Week 1 : Business and its Role in Society - Homework ES
Week 1 Homework ES
1. No one can predict a natural disaster or world crisis. When a hurricane or flood or a pandemic strikes a country, who is most likely to respond first? Which economic system is the best solution to handling a crisis of epic proportion? (Points : 13) When a hurricane, flood, or a pandemic strikes a country, it is questioned who is most likely to respond first. The government would be highly likely to respond first. The government would need to obtain the needed trained officials and assistance to attempt to regain stability in the community that this crisis has unexpectedly occurred. a better understanding what matters the most, helping each other out when in need.
2. What advantages might a socialist system have in responding to the needs of people struck by an emergency situation like the earthquake that occurred in Haiti in January, 2010? (Points : 13)
The advantages a socialist system have in responding to the needs of people struck by an emergency situation like the earthquake that occurred in Haiti in January, 2010 is the immediate control they have of their response. The socialist system has the benefit of evenly disbursing the profit among people due to the fact that most of the basic businesses are government owned. Which is beneficial in the need of an emergency situation because they are able to evenly distribute goods as well as services to that in need during an emergency situation like Haiti. In comparison of a Capitalistic system they may not have the financial stability to provide the immediate emergency assistance needed when these particular events occur.
3. When disasters hit an area, the cost of everything seems to go up immediately: food, water, housing, gas and so forth. Explain why this phenomenon may be a good thing, using the laws of supply and demand to explain your...
Please join StudyMode to read the full document