https://padlet.com/s_greta_reed/q7wioci3i9t2 By Greta Reed en-us 2017-03-19 16:04:16 UTC 2023-02-27 17:06:18 UTC hello@padlet.com s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161002085 Mixed Economy]]> 2017-03-19 16:08:00 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161002085 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161002116 Command Economy]]> 2017-03-19 16:08:22 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161002116 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161002197 Free Market Economy]]> 2017-03-19 16:09:13 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161002197 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161003822 The country of Sertyuio decides what to produce based on consumers demand for different products. The government has no control over anything that is produced and it is entirely decided by what the buyers are willing to buy. For example, there is a high demand for pretzel rods and keyboards, so both pretzel rods and keyboards are highly produced in Sertyuio.]]> 2017-03-19 16:28:43 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161003822 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161003881 The country of Sertyuio decides how to produce products based on efficiency and how the producers think is best. The government has no regulations on how companies are allowed to produce anything and it is entirely up to them. For example company Qwertyu uses dangerous machines to produce shoes, because they are extremely efficient which benefits the company, but the govenrment of Sertyuio cannot do anything about this. However, the people of Sertyuio can decide that they no longer want to buy from Qwertyu Co. because of these practices, Qwertyu Co. will change their behavior. In short, in Sertyuio's people and companies decide how they are going to produce goods and services.]]> 2017-03-19 16:29:18 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161003881 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161003889 Sertyuio decides for whom the goods and services are produced by who wants them and by who can pay for them. The government has no role in this. For example, school has gotten very expensive in Sertyuio which means that only about half of its residence can even afford to go to high school. Because of this, it has created many problems because its population is largely uneducated. The government would like to fix this, but unfortunately they must leave it up to the market to decide on the price. ]]> 2017-03-19 16:29:25 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161003889 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161003934 The country of Sertyuio has three main strengths. First, they have efficiency. Because the government has not set any rules about what they can and cannot do, companies can use extremely efficient techniques even if they are ethically questionable. They also have a lot of competition which leads to lots of efficiency. Secondly, they value freedom. The economy is completely made by peoples own self interest. The people of Sertyuio can choose completely by themselves how they spend their money and how they earn their money. Thirdly, they value growth. Because there is so much innovation from having a free market economy, it creates a lot of growth as well. Sertyuio has a big economy and a high GDP per capita because of this.]]> 2017-03-19 16:29:55 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161003934 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161003954 Sertyuio also has its weaknesses. First off, it has no economic security. Because the government has no safety net programs or offer any help to get out of poverty, it means that people and companies that go bankrupt often stay there, and running companies could fail any minute. Secondly, they do not value equity. Because the market decides who the winners and losers are, there is a great economic divide in Sertyuio with a few members being very rich and many being very poor. ]]> 2017-03-19 16:30:07 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161003954 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161006517 The country of Ertgy decides what to produce based on both consumers demand as well as government decisions. The government of Ertgy provides public goods and services to prevent market failures, such as schools, roads, parks, and clean water programs, but most products are decided by the consumers and producers of Ertgy, so they also produce high demand products such as sporks, convertible couch/beds.]]> 2017-03-19 16:58:37 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161006517 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161006670 The county of Asdfgh decides what to produce based on the government's decisions on what they think is needed for them. Central planners make all the decisions on what they should be producing. For example, even though there is a high demand for witty flags and country names, the government of Asdfgh decides they would be better off producing panicked emails to teachers, so that is what they produce.]]> 2017-03-19 17:00:33 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161006670 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161012314 The country of Ertgy decides how they are going to make products based on the consumers and producers as well as the government. The government sets regulations and laws to ensure the companies have ethical practices, but the companies can work in any way they want to as long as they are not breaking these regulations. For example, the government of Ertgy has set a minimum wage, and laws about the usage of SuperEffiecentButWillCutYourArmsOff machines. These means that company Loiuyt & Co. cannot use said machines and must pay their workers at least a certain amount, but they can still decide everything else as long as they don't break these rules.]]> 2017-03-19 18:08:59 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161012314 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161013962 The country of Asdfgh decides how they are going to produce goods and services purely by government control, and what the government thinks is the best way to do things. They have central planners that make all the decisions on how companies are allowed to make products. For example, Asdfgh's central planners decided 10 years ago that they are going to use SlowInefficientOld machines. They were good at the time, but now much better technology is available; unfortunately the central planners have to make many decisions, and this is not very high on their priorities list. Surprisingly enough, it is slow and inefficient.]]> 2017-03-19 18:29:08 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161013962 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161018575 Ertgy decides for whom the goods and services are produced by both the government as well as the market. The government has some programs to ensure that some goods and services are available to everyone, even the ones who cannot afford it themselves. Some of these programs include: school and scholarship programs, food stamps, and healthcare. Who gets most goods still is decided by who can pay for them however, which means that plenty of people cannot buy certain goods because they cannot afford it.]]> 2017-03-19 19:18:36 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161018575 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161020252 Asdfgh decides who the goods and services are produced for by the government's decisions. They have a group of central planners who decides how the goods and services are allocated to the citizens. Asdfgh uses coupons that can be exchanged for goods, such as shoes or bread. Luckily, Asdfgh is pretty good at being fair about distributing these coupons to everyone, well except for the people the government doesn't like but we Do Not Talk about that. For example, an average citizen Joseph Kazoo, gets coupons on the first of each month. He has received 2 bread coupons and 1 milk coupon. Sounds like he won't be eating too much sand this month.]]> 2017-03-19 19:37:14 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161020252 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161270667 Ertghy has three main strengths. First,  they value growth. With a mostly market economy, there is a lot of innovation which creates growth, but also because the government has created safety net programs to help keep people out of poverty, which creates higher living standards for the general public and a higher GDP per capita. Secondly, they value security. Like mentioned before, the government has programs to attempt to keep people economically secure and help failing businesses. Thirdly, they value freedom. Although the government makes some decisions about how citizens spend and earn their money (ex. illegal businesses, policies about how companies are allowed to run their themselves) for the most part, people have near economic freedom and make most of these decisions for themselves.  ]]> 2017-03-20 17:36:58 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161270667 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161270815 Asdfgh's main strengths are equity and security. The government is the one distributing wealth and they try their best to distribute it equally, or create fairness in living standards and wealth. Secondly, there is economic security because there is no fear of suddenly loosing all your wealth or job because the government is giving it to you, so it should exist as long as the government exists. ]]> 2017-03-20 17:37:23 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161270815 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161353606 The country of Asdfgh' main weaknesses are freedom and efficiency. The people have no economic freedom at all. The government decides how they spend their money as well as how they earn their money. Secondly, they are extremely inefficient. Because they have a group of central planners that make decisions about everything, the decision making process is extremely slow and very bad at aligning with the actual demand for differing goods and services.]]> 2017-03-20 23:56:54 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161353606 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161358269 Ertgy's main weaknesses are equity and efficiency. Although equity is a very subjective term, many citizens think that it is not fair that some citizens of Ertgy are much wealthier than others. Secondly, although they do a pretty good job at maximizing output from resources, the government policies restrict companies from being efficient as they could have been.]]> 2017-03-21 00:45:26 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161358269 s_greta_reed https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161359236 I would choose to live in Ertgy, the mixed economy. I chose to live in Ertgy because its strengths and weaknesses are less drastic than those of Sertyuio and Asdfgh. For example, Sertyuio is very strong in economic freedom, but has no economic security at all. In the same vain, Asdfgh is very strong in equity and security, but has basically nothing else. Ertgy is different because it has a little bit from each category and is more balanced. Although it is not completely perfect in any one category, it does a pretty good job of valuing all of them to an extent. Because of this, it was actually quite difficult to talk about its weaknesses, considering they are not particularly weak in any specific category. Ertgy takes the good parts from both free market economies and command economies and combines them. Although Ertgy's economy is not perfect, I would definitely choose to live there over Sedrtyuio or Asdfgh's economy any day.]]> 2017-03-21 00:55:40 UTC https://padlet.com/s_greta_reed/q7wioci3i9t2/wish/161359236