https://padlet.com/doylecj25/nvjc9zja8y109ece en-us 2023-09-14 13:11:32 UTC 2023-09-14 20:57:57 UTC hello@padlet.com doylecj25 https://padlet.com/doylecj25/nvjc9zja8y109ece/wish/2704190063 "Laguana Reef" is the title of my new island! Laguna Reef is neighboring with the Maldives. The climate of my island is typically on the humid side, though we have the warm, lush, temperature all year around. We have many trees as shown on the picture, and the water we are surrounded by is clear and bright blue. ]]> 2023-09-14 13:17:26 UTC https://padlet.com/doylecj25/nvjc9zja8y109ece/wish/2704190063 doylecj25 https://padlet.com/doylecj25/nvjc9zja8y109ece/wish/2704209587 Land is the natural asset used in manufacturing. 5 natural resources include, water, trees, fish, sun, and soil. The soil can help produce crops to assist in feeding the 30 individuals on the island. The water and sun can also help with that process. We could use the rain for drinking water. Lastly, the trees can supply shade, and/ or shelter.
 Labor is the supply and demand for occupations. A few jobs that can be found on our island is someone collecting drinking water, making shelter out of trees, finding fertile soil to enable the use of crops. Two more jobs that are equally important is establishing a fire, and lastly, creating weapons to catch/ find food. 
Capital is an economic system where public goods are controlled and managed by private ownerships/ businesses. 5 pieces of capital I would bring to my island is sun protection, hammock, knife, boxes of matches, and a fishing net. I would bring sun protection so the others and I do not receive sun poisoning, and or skin cancer. Next, I would bring a hammocks for better sleeping usage. I would also bring boxes of matches to light a fire for cooking and heating purposes. Then, A knife would be brought so we can chop up food, wood, etc. Lastly, a fishing net is brought to collect many fish at one time instead of individually. ]]> 2023-09-14 13:28:36 UTC https://padlet.com/doylecj25/nvjc9zja8y109ece/wish/2704209587 doylecj25 https://padlet.com/doylecj25/nvjc9zja8y109ece/wish/2704807407 I believe at first, only the necessities should be produced such as sun protection, knife, etc. Although, as time goes on, we can start producing anything they have interest in. I think entrepreneurship is the best way to go, as it combines all three factors of production. I also think a combination of people can produce these goods, although at first we may not have a big governing body. Again, at first individuals will obtain these items based on needs, then once the rotation is set, we can do a combination of trade and needs. ]]> 2023-09-14 20:28:16 UTC https://padlet.com/doylecj25/nvjc9zja8y109ece/wish/2704807407 doylecj25 https://padlet.com/doylecj25/nvjc9zja8y109ece/wish/2704822345 The system that best fits our island is market. The market system gives the individuals choice and power, and we have the opportunity to make the production and salary. As stated earlier, the market system lets individuals have freedom, by letting them create their own businesses, profit, etc. Laguana Reef lets the people have/ own control. ]]> 2023-09-14 20:47:27 UTC https://padlet.com/doylecj25/nvjc9zja8y109ece/wish/2704822345 doylecj25 https://padlet.com/doylecj25/nvjc9zja8y109ece/wish/2704829469 I chose this economic system because I believe it worked best for our island, as it gave the people and not just the little governing body we had, control. The market economy may be difficult at first as we have such a higher demand of goods, and less competition. The economy that is ran will be efficient long term as it improves innovation, and businesses will run smoother if ran by the true owners. Three strengths in the economy is no government interference, producers have the right to select, and promotes enterprise. Three weaknesses is unemployment, restricted production, and low competition. ]]> 2023-09-14 20:56:37 UTC https://padlet.com/doylecj25/nvjc9zja8y109ece/wish/2704829469