https://padlet.com/86377/wz1uz04c5dbg Made with the help of a typing monkey en-us 2018-10-17 18:52:27 UTC 2018-10-17 19:22:24 UTC hello@padlet.com 86377 https://padlet.com/86377/wz1uz04c5dbg/wish/294052822 Resource allocation established by central planners. State-owned businesses are often inefficient but rarely allowed to fail.]]> 2018-10-17 18:55:05 UTC https://padlet.com/86377/wz1uz04c5dbg/wish/294052822 86377 https://padlet.com/86377/wz1uz04c5dbg/wish/294053239 Most allocation decisions made by consumers and producers in markets. Extensive specialization and internal trade increase productivity and competition.]]> 2018-10-17 18:55:51 UTC https://padlet.com/86377/wz1uz04c5dbg/wish/294053239 86377 https://padlet.com/86377/wz1uz04c5dbg/wish/294053603 Incentives for individuals and businesses to produce more and avoid waste encourage efficient use of resources. Specialization, investment in capital and workers' education and training and trade encourage higher levels of output.]]> 2018-10-17 18:56:33 UTC https://padlet.com/86377/wz1uz04c5dbg/wish/294053603 86377 https://padlet.com/86377/wz1uz04c5dbg/wish/294053635 Private ownership of all kinds of resources is allowed, and individual freedom and control of resources is highly valued]]> 2018-10-17 18:56:37 UTC https://padlet.com/86377/wz1uz04c5dbg/wish/294053635 86377 https://padlet.com/86377/wz1uz04c5dbg/wish/294053674 Generally, individuals are responsible for their own health care, retirement benefits, housing and income. But there are some government programs to reduce risks and provide increased economic security such as assistance for low income families, unemployment compensation, social security, and government job training programs.]]> 2018-10-17 18:56:41 UTC https://padlet.com/86377/wz1uz04c5dbg/wish/294053674 86377 https://padlet.com/86377/wz1uz04c5dbg/wish/294053719 Some unemployment is tolerated, income depends on the resources an individual has to sell, the federal government uses monetary and fiscal policies to reduce unemployment and inflation and encourage economic growth.]]> 2018-10-17 18:56:47 UTC https://padlet.com/86377/wz1uz04c5dbg/wish/294053719 86377 https://padlet.com/86377/wz1uz04c5dbg/wish/294053759 Equality of opportunity, people are free to make own decisions on how to use their resources and capabilities but no guarantee of success. Income depends on the value of labor and other resources an individual has to sell.]]> 2018-10-17 18:56:51 UTC https://padlet.com/86377/wz1uz04c5dbg/wish/294053759 86377 https://padlet.com/86377/wz1uz04c5dbg/wish/294055343 Growth targets set by central planners who assign output quotas for different firms. Weak incentives to reduce waste. Plant facilities and equipment maintenance often a problem.]]> 2018-10-17 19:00:10 UTC https://padlet.com/86377/wz1uz04c5dbg/wish/294055343 86377 https://padlet.com/86377/wz1uz04c5dbg/wish/294055394 Government ownership of most capital and land resources, many decisions made by central planners.]]> 2018-10-17 19:00:19 UTC https://padlet.com/86377/wz1uz04c5dbg/wish/294055394 86377 https://padlet.com/86377/wz1uz04c5dbg/wish/294055421 Pensions, jobs, income, housing and health care provided or guaranteed by the government.]]> 2018-10-17 19:00:22 UTC https://padlet.com/86377/wz1uz04c5dbg/wish/294055421 86377 https://padlet.com/86377/wz1uz04c5dbg/wish/294055462 No unemployment, prices usually set below market price to ensure that goods are sold, which controls official measures of inflation.]]> 2018-10-17 19:00:27 UTC https://padlet.com/86377/wz1uz04c5dbg/wish/294055462 86377 https://padlet.com/86377/wz1uz04c5dbg/wish/294055488 Wages often set by government to provide greater equality of income. Opportunities for moving or changing jobs is limited, so jobs may not make use of an individuals' skills and abilities.]]> 2018-10-17 19:00:31 UTC https://padlet.com/86377/wz1uz04c5dbg/wish/294055488