The objective of this question is to help you learn how to ask hard questions of an economic system to determine what’s good and what’s bad about it.
Every country has its own unique type of Economic System. Ours is called Capitalism. Please consult the material covered in the topic called The Market System. Google may also be of help here.
•Please list and explain5 “good” things Capitalism has produced for us over the years. Make sure you provide thorough explanations of why you believe these are “good” things.
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This is harder than it looks! Think carefully and be objective. Nothing is 100% good or bad, so you will need to be very thorough in your explanations. Don’t talk about pros and cons. Focus only on good things that capitalism has produced.
•Please list and explain5 “bad” things Capitalism has produced for us over the years. Make sure you provide thorough explanations of why you believe these are “bad”.
•Capitalist Economic Systems typically require a steady flow of resources and expanding markets. Please explain in detail what would happen to our capitalist system when these two conditions are absent and explain why those we would expect to see those results.