https://padlet.com/austinpayne1203/hv7umgg4xl8 By : Austin Payne en-us 2018-04-15 17:52:19 UTC 2025-11-02 08:06:54 UTC hello@padlet.com austinpayne1203 https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251914071 Every human society must ask itself three questions. 

What to produce?

How to produce?

Whom to produce for?

Today we are going to try and answer these questions. See who decides to answer the questions for the country of Canada, and see what economic styles are better, planned economy, market economy, or controlled economy. ]]> 2018-04-15 17:58:39 UTC https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251914071 austinpayne1203 https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251925487 On this website basic answers are provided for the questions. Here I was able to learn that a country must make produce products That are for sure profitable. By having a noticeable supply demand equilibrium that is found attractive to suppliers. For how to produce the question becomes what is the least expensive way to produce this good. A good example of this would be do we rely on a human labour force or machines. You would have to pay humans hourly which would be a costly expense where as machines would only cost you in overhead. Whom it is produced to is asking yourself who your target audience is depending on there disposable income. Thus making your good something people from that category would want to buy. ]]> 2018-04-15 19:28:55 UTC https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251925487 austinpayne1203 https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251938961 Here we come to a understanding of the government's power of a supplier and a consumer. Canada is a mixed economy meaning there are plenty of regulations on the market the government also competes in the market itself.Through certain socialist and capitalist laws our government can intervene with the market. The pros are that the government can set market prices on items to help ensure affordability for consumers and set minimum wages for employees to afford some sort of standard of living. However there are cons too. The government can also raise taxes on products and uses tax money to provide people with welfare checks. Welfare is a way of income for people who don't have a job. The pay towards it comes from everyone else who pays there taxes and have jobs. The issue here is it provides a incentive to some people to not go out and look for a job and also the standard of this individual's living is dependent on the rest of the people in the country that are employed.  Thus proving that even a mixed economy has flaws. But how does this relate to three questions. Well it shows that canada's government has some power to set regulations into place can either benefit or detremint a certain product someone may wish to supply into the market.]]> 2018-04-15 21:27:16 UTC https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251938961 austinpayne1203 https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251943492 This shows us the average income of canadians. Through this we are able to tell the disposable income of canadians and can get a idea for what would be good prices on products and how many people of the general population would have enough disposable income to afford what we are providing. This is really good information for anyone thinking of selling a product as it gives them a good idea of a number that should be supplied around the country. ]]> 2018-04-15 22:16:26 UTC https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251943492 austinpayne1203 https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251944386 This video discusses the three questions. But also the three styles of economies planned economy, controlled economy, and market economy. I believe the best system around is a capitalist one or a free market system. The free market empowers the individual instead of the state or government. Meaning each person has the decision on what to sell how they sell it and who they sell too. This helps suppliers charge the price that they find fair they also can supply people with the standard of quality they are willing to supply in there products, and if a individual couldn't afford a certain product for sure there will be a competitor who supplies the same product at less quality but a more affordable price. Even though i am stating i am Pro free market with products I do also hold some socialist values that we have in Canada that I feel are fair. One of those ideas being free health care as health care is what determines people's health and there shouldn't be a price on that. ]]> 2018-04-15 22:27:17 UTC https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251944386 austinpayne1203 https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251946762 This video helps us understand  the history of Capitalism and why there is such a negative connotation people of the general public have towards it. The video points out interesting ideas that sparked from capitalist thoughts. One being that slavery is a terrible work force idea and that workers should be compensated properly. The video points out that people tend to have there own self interests and goals behind everything which is very true, and that by letting people sell these skills or turn these ideas to products for sale then society will prosper.   ]]> 2018-04-15 22:52:08 UTC https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251946762 austinpayne1203 https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251951510 I wrote earlier in Video 2 that there is a lot of negative connotations seen nowadays towards Capitalism. One of the reasons being is captialism is competitive and in order to succeed or win this competition you have to work hard. It doen't look out for everyone and not everyone wants to work hard. So currently Canada stands a s a mixed economy but with the current political climate we are moving towards a more socialist / communist government. They make these new moves toward this direction by dressing up the idea of equality of outcome by saying that equality of outcome does not exist because of other people's races, sexes, and sexual orientation. 

Jordan Peterson in this video discusses how people make these moves in this direction. He also goes after the common idea that a real communism has never been achieved by saying it can never be achieved as the opportunity to take full power comes with it. ]]> 2018-04-15 23:42:57 UTC https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251951510 austinpayne1203 https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251976215 2018-04-16 02:56:19 UTC https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/251976215 austinpayne1203 https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/252360624 Just a interesting discussion between points of Capitalism and Communism. It's funny to read because many common people believe communism is about empowering the people. However throughtout history it has never been the case. It is important that people are educated how this economic system has been used in history. ]]> 2018-04-16 22:27:38 UTC https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/252360624 austinpayne1203 https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/252361858 Below is a diagram of how resources are distributed into the economic system. The idea is that What to produce is basic resources How to produce is through the firms and the money supplied there. and Whom they produce for is the basic people ]]> 2018-04-16 22:36:47 UTC https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/252361858 austinpayne1203 https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/252362825 All though I'm very pro capitalism. The system does have flaws as every system does in the world. In this photo they show what is good and what is wrong with capitalism. I still feel capitalism is a better system then a full socialism or full communism system. ]]> 2018-04-16 22:45:46 UTC https://padlet.com/austinpayne1203/hv7umgg4xl8/wish/252362825