Comparative Systems Questions
1) Compare and contrast Capitalism versus Socialism?
2) You studied the economics of the market system and that in the market we always find equilibrium. Can socialist planners make correct choices on product or service prices to reach equilibrium for over thousands of product or if they don?t do surpluses and shortages result through incorrect pricing policies?
3) By examining #2, in what way would you suggest that socialism if not balanced with some capitalist features could become in-efficient?
4) So why have so many Socialist countries opted to move away from most of their socialist leanings towards a more mixed Socialist Capitalist variety?
5) The USSR had more of a centralized administration while China because of it huge population has developed into a more decentralized organization. After listening to the news on TV or read the paper, which of the two economies: centralized or decentralized has seemed to be able to move quicker towards a more capitalist economy and why?
Economy, which is defined as the riches and assets of a locale, can be gathered into two sorts:
formal and casual. Private enterprise and communism are formal economies that contrast in view
This question was answered on: Dec 18, 2020
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