https://padlet.com/s_amber_bastianelli/unit2project By Amber Bastianelli en-us 2017-03-19 03:33:52 UTC 2023-07-26 15:29:05 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Growing.png s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/160964432 Economic System: Free-Market Based Economy]]> 2017-03-19 03:39:01 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/160964432 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/160964898 Economic System: Command Based Economy]]> 2017-03-19 04:01:25 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/160964898 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/160965336 Economic System: Mixed Economy]]> 2017-03-19 04:15:07 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/160965336 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161002445 Raingladow has a Free-Market based economy, so they determine what they produce based on what the people want them to produce, so that the people will purchase their products, because they run the economy. In Raingladow, they love nothing more than food and relaxation, and avoiding exercise, (they have one of the highest obesity ratings in the world,) so the most predominant things being sold there, are fast food, sweatpants, and recliner chairs.]]> 2017-03-19 16:11:57 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161002445 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161325393 Raingladow uses whatever means of providing goods and services is cheapest, while still being effective, because the firms don't have any reason to pay their employees more than they have to, but there is a lot of competition, so they still have to make sure that their products are better than other products on the market. Because of this, they rely on mostly child labor (because there are no regulations on child labor) and people in poverty to make their products, because they can pay them less than most people.]]> 2017-03-20 20:26:34 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161325393 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161326917 Goods and Services in Raingladow are given to whoever can afford them typically the rich, because firms don't have any interest in making sure that everybody has what they need, but have an interest in making as much money as they can, so they will generally charge as much as they can, while also trying to charge less than competitors, so people will buy their products. The richer people who are able to buy products, are ones with higher paying jobs, like doctors. (They have a lot of patients, because of the massive amounts of fast food production.)]]> 2017-03-20 20:33:44 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161326917 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161454327 Free-Market economies like the one in Raingladow, have a lot of benefits. There is a fair amount of economic growth, because there is natural competition, which also leads to better efficiency, because they have to make sure that their products are outselling rival products. The main benefit to this kind of economy, is freedom, because companies can hire whoever they want, sell whatever they want, and employ whoever they want, without government regulations affecting their economy.]]> 2017-03-21 11:59:31 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161454327 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161460175 Free-Market economies also have their downsides. One of the weaknesses of a free-market economy, is that there is practically no equity, because there is no government involved, trying to keep people out of poverty, or make everybody more equal, and the firms don't care if people are employed or can afford products. The other big downside to this form of economy, is the lack of security, because the government isn't trying to make sure as many people are employed as possible, so people with jobs can be fired at any time for any reason.]]> 2017-03-21 12:19:17 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161460175 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161683202 In The Nation of the KGB, they have a Command economy, so they determine what they produce, based essentially, what the government thinks they need, because of this, the most produced things in the country, are basic foods, like bread, cabbage, and potatoes. Anything other than basic necessities like generic food and drinks, are considered luxury goods.]]> 2017-03-22 00:11:21 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161683202 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161685209 In the Nation of the KGB, the government employs everybody, because they own all of the companies, so they the things they produce are produced by the citizens of the country, because the government has a responsibility to make sure that everybody is equal, and that everybody is employed, so they aren't very efficient, because people won't really be fired if they preform poorly at their job, so nobody has incentive to work hard because they get paid regardless.]]> 2017-03-22 00:32:55 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161685209 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161687560 In the Nation of the KGB, the government "fairly" distributes all of the products to everybody, so that everybody has enough to survive, but nobody has too much. For example, a family with 3 kids would get more products than an unmarried person who has no kids, but the family of with three kids would be provided only enough for the parents, and the three kids to survive, and the unmarried person would only have enough to survive for themselves.]]> 2017-03-22 00:53:22 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161687560 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161692268 The UST has a Mixed Economy, so what is produced is determined by both the government, and the firms. The firms produce things generally based on what the people want the firms want them to produce, but there are also government regulations that partially control the products that are produced. Because of this, products consist of necessities, like food and drink, as well as luxury items, such as cell phones, computers, and televisions, which are common products in the UST.]]> 2017-03-22 01:29:31 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161692268 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161694149 The products in the UST are made by the firms, and they generally decide how they make products, but the government also plays a role, because they make regulations about what the firms can do, (i.e. anti-child labor laws.) In the UST, products are made mostly by machines, or employees, and the employees are paid at least a minimum wage which is set by the government, and they work in conditions deemed fit by the government.]]> 2017-03-22 01:44:52 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161694149 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161694911 In the UST, the products are mostly purchased by people who can afford to buy the products, from the firms, but some products are given to the people who can't afford products, because of the government's attempts to keep as many people out of poverty, and make sure that they have the means to survive.]]> 2017-03-22 01:52:22 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161694911 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161696472 Command economies have a fair amount of benefits. Arguably, the biggest benefit of a Command economy, like the one in the Nation of the KGB, is the equity. In the KGB, every person is given enough to survive, so each individual person has exactly the same benefit as everybody else. The other major benefit of a Command Economy, is that since the government employs everybody, there is practically the most job security possible, because people very rarely get fired.]]> 2017-03-22 02:09:37 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161696472 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161697810 Command economies also have weaknesses, one of which is the lack of economic growth and efficiency, because since the government owns all of the firms, so there is no competition, therefore there is no need for their economy to grow or be more efficient. The other big weakness of Command economies, is the lack of freedom, because the government controls all firms, so there isn't much freedom in the market.]]> 2017-03-22 02:17:14 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161697810 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161698829 In a Mixed economy like in the UST, there are a fair amount of benefits caused by the mix between government and firms involvement. Mixed economies are strong in terms of growth, efficiency and freedom, mostly due to the firms influence, and they're also strong in terms of security and equity, which is mainly because of the government aspect of their economy, and while they are strong in all 5 areas, they aren't really strong in any one area. They are more overall strong then strong in any specific areas.]]> 2017-03-22 02:27:38 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161698829 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161699955 Mixed economies have weaknesses in terms of all five economic goals, (by comparison at least,) because they have less government and less firm involvement than the other kinds of government, but like in strengths, they don't have any specific weaknesses, but more of an overall average mix of all 5 economic goals.]]> 2017-03-22 02:40:57 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161699955 s_amber_bastianelli https://padlet.com/s_amber_bastianelli/unit2project/wish/161700415 If I were to chose one economic system, out of the three options, Command, Free-Market, and Mixed, I would choose a Mixed Economic System. I chose the Mixed economy over the others, because I feel that leaning too far to a Command economy, would ignore the strengths of a Free-Market economy too much to be beneficial, and vice versa. The Mixed economy has a good combination, in my opinion, of all 5 economic goals, and even though it doesn't have any strengths that it excels at, I feel that all 5 of the goals are too important to ignore one or more of them. For example, to chose a command based economy, would mean ignoring the strengths of a Free-Market economy, while includes economic growth which is a very important thing for an economy to have. Alternatively, to chose a Free-Market based economy, would result in ignoring the benefits of a Command economy, including equity, which is very important for the people living in a country. In conclusion, I chose a Mixed Economy, because I think that it is important to make sure that all economic goals are met, for a countries economy to be as successful as possible.]]> 2017-03-22 02:46:50 UTC https://padlet.com/s_amber_bastianelli/unit2project/wish/161700415