Hillary White
1. Discuss both the advantages and disadvantages of living in a capitalist society. The, describe how such disadvantages could be minimized.
Capitalism is an economic system in which all or most of the factors of production and distribution are privately owned and operated for profit. To live in a capitalist society you have the right to own private property, including the means of production, and the right to own a business and keep profits are two of the fundamental rights that exist in the economic system called free market capitalism. I understand that some people get rich and some people get poor just as some people can be great and some will only be common.
The Advantages of living in a capitalist society are as a consumer, you can get the best quality goods and services at the best prices. The freedom and competition that exist in a capitalist economy forces producers to make their goods and services as good as possible and as cheap as possible so as to attract customers. As a consumer or a producer, you have the greatest possible freedom to do what you want. You have the right to buy what you want and to produce what you want.
The disadvantage of living in a capitalist society is it is very possible for some people to become poor in a capitalist society while others become very rich. While others are buying and selling businesses some people who can’t afford too. This can be very hard on the people who are left behind. It also makes for the possibility of political instability and conflict. Another disadvantage is having to work harder. Also it's unstable so you can end up unemployed. There are many more disadvantages of living in a capitalist society.
1. Discuss both the advantages and disadvantages of living in a capitalist society. The, describe how such disadvantages could be minimized.
Capitalism is an economic system in which all or most of the factors of production and distribution are privately owned and operated for profit. To live in a capitalist society you have the right to own private property, including the means of production, and the right to own a business and keep profits are two of the fundamental rights that exist in the economic system called free market capitalism. I understand that some people get rich and some people get poor just as some people can be great and some will only be common.
The Advantages of living in a capitalist society are as a consumer, you can get the best quality goods and services at the best prices. The freedom and competition that exist in a capitalist economy forces producers to make their goods and services as good as possible and as cheap as possible so as to attract customers. As a consumer or a producer, you have the greatest possible freedom to do what you want. You have the right to buy what you want and to produce what you want.
The disadvantage of living in a capitalist society is it is very possible for some people to become poor in a capitalist society while others become very rich. While others are buying and selling businesses some people who can’t afford too. This can be very hard on the people who are left behind. It also makes for the possibility of political instability and conflict. Another disadvantage is having to work harder. Also it's unstable so you can end up unemployed. There are many more disadvantages of living in a capitalist society.
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