Economic Systems Project

Economic Systems Project

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  • I just lost my job.
  • Economic security provides a safety net for workers that protects them. A benefit of living in a command economy is that a job is given to you. In a mixed, you can get fired and a job is not guaranteed.
  • I am very sorry to hear. In my country, my job is provided by the government.
  • Right now I'm actually on my way to the unemployment office.
  • In a mixed market, a job is not provided but services such as unemployment and EBT exist to help citizens.
  • With that, I can still afford the products that i need which are regulary avaliable.
  • Economic stability is when resources are regulary avaliable and the people can afford it. This benefits people by having the resources there when people need it.
  • In a command economy the government chooses what to produce, how to produce, and for whom to produce. For example, the government chooses to produce one type of car for citizens. The amount of products available in a commnad economy is low and people can rarely ever afford the things they need because of fluctuating prices.
  • Everthing is owned and made by the government where i live, i may be provided a job, but i make little and can barely afford the things i need.
  • In my country, the people have freedoms to own buisnesses and run the economy, 
  • In a market economy, people choose what to produce, how to produce, and for whom to produce. The economy is run by competition and incentives to innovate products. For example, phone companies such as Samsung and Apple will compete to make the best cell phone for consumers.
  • well, I have to go. It was a pleasure speaking with you.
  • Likewise, have a great day.
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