Markets, (Capitalism) historically have rewarded the individual according to their output. Socialism rewards people according to...

Markets, (Capitalism) historically have rewarded the individual according to their output. Socialism rewards people according to their needs. With the current economic system, we are seeing bail outs of the financial as well as the Banking industry. Is this Socialism, Capitalism, or a new type of economic system for the individual and the Corporation?

Solutions

Expert Solution

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

Free Market driven societies reward individuals according to their output; Government or communist driven societies rewards...

Free Market driven societies reward individuals according to their output; Government or communist driven societies rewards people according to their needs. How might these different systems affect work effort? Which is more fair?

(The Lost Episodes) Perfectly competitive factor and output markets. In a labor market, can an individual...

(The Lost Episodes) Perfectly competitive factor and output markets. In a labor market, can an individual firm determine the market wage? Answer this using at least 100 words. According to this video, explain how many workers an individual firm should hire in order to maximize profit, according to the Rule for Hiring? Answer this using at least 100 words. According to this video, how would you determine how much revenue is generated by hiring additional worker? Answer this using at...

Economists believe people should get paid according to the value of the output they produce. This...

Economists believe people should get paid according to the value of the output they produce. This is fairly easy to determine when you produce something physical, such as cupcakes. However, it becomes very difficult to measure if you are providing a service (perhaps teaching, or you're a doctor treating a medical condition). Regardless of how you measure the value of the output, the more productive you are the more valuable you are in the market to potential employers. This is...

Income and Poverty Economists believe people should get paid according to the value of the output...

Income and Poverty Economists believe people should get paid according to the value of the output they produce. This is fairly easy to determine when you produce something physical, such as cupcakes. However, it becomes very difficult to measure if you are providing a service (perhaps teaching, or you're a doctor treating a medical condition). Regardless of how you measure the value of the output, the more productive you are the more valuable you are in the market to potential...

8. Business schools have historically had syllabuses that, according to Willman (2014), are ‘opportunistic, eclectic, fragmented...

8. Business schools have historically had syllabuses that, according to Willman (2014), are ‘opportunistic, eclectic, fragmented and derivative’. Explain what Willman means by this statement. Critically assess the value of such a syllabus for the business school student.

According to Smith, what effect does the number of people participating in the economy have on...

According to Smith, what effect does the number of people participating in the economy have on society’s wealth? Why?

According to a survey, out of the 297 people in our class, 71 have senior standing...

According to a survey, out of the 297 people in our class, 71 have senior standing (7 or more semesters at UCB), and 226 do not. Among those with senior standing, 53 have declared a major and 18 have not. Among those without senior standing, 69 have declared a major and 157 have not. Suppose we are going to choose a single student at random from the class. (a) Are the events “drawing someone with senior standing” and “drawing someone...

According to CalCentral, out of the 297 people in our Stat 2 class, 71 have senior...

According to CalCentral, out of the 297 people in our Stat 2 class, 71 have senior standing (7 or more semesters at UCB), and 226 do not. Among those with senior standing, 53 have declared a major and 18 have not. Among those without senior standing, 69 have declared a major and 157 have not. Suppose we are going to choose a single student at random from the class.    (a) Are the events “drawing someone with senior standing” and “drawing...

The individual health insurance market covers most people who have health insurance. covers a small percentage...

The individual health insurance market covers most people who have health insurance. covers a small percentage of people with health insurance. is used by employers for their employees. has been eliminated by the Affordable Care Act The claims experience of an insurer’s enrollees does not include the benefits available to the enrollees. the demographic characteristics of the enrollees. the cost-containment provisions of the health plan. the insurer’s administrative costs.

When a curly haired individual reproduces with a straight-haired one, the children all have wavy hair. What offspring would be produced, in what proportions, when two people with wavy hair reproduce?

1) The inheritance of curly hair illustrates incomplete dominance. When a curly haired individual reproduces with a straight-haired one, the children all have wavy hair. What offspring would be produced, in what proportions, when two people with wavy hair reproduce? 2) Colorblindness is an X-linked trait recessive disorder. A woman who does not carry the color-blindness allele has children with a man who is color blind. What proportion of their children will be color blind? 3) Huntington disease (HD)...

Subjects