1.Summary
The economy means the way people use the environment to meet the physical needs. It is a realization of the economic system in the country or elsewhere. This includes the production, exchange, distribution and consumption of goods and services in the area.
As societies grow and become more complex, the economy grows. The ancient economy was largely based on subsistence farming. Also, for most people, commodity exchanges occurred through social relationships. As trade evolved, mercantilism caused by trade was an approach to mediate between private and public interest. Mercantilism relates to merchant foreign traders, particularly the rapid growth of British geographical discoveries and rapid growth of foreign trade. Although Jun-san was produced mostly by non-productive production methods, it was a trading system for profit. And now, capitalism has replaced medium-stricken systems and led to economic growth. The Industrial Revolution system enables production and division of production to enable mass production. Capitalism has evolved gradually in Europe, and it has provided major industrial tools in many parts of the world. Because of the development of capitalism, the surplus resulting from the emergence of commercial agriculture promoted mechanization of agriculture. And the key characteristic of capitalism is the establishment of a huge industrial monopoly. However, capitalism has long had a long recession in the United States and the Great Depression, and debates on the long-term survival of capitalism have begun. Thus, capitalism stimulates economic growth with GDP. But capitalism creates social inequality within society as well as the ability to spur economic growth and improve living standards.
In contrast, socialism refers to the various theories of economic organizations that support the ownership and production of workers and the means of producing resources and resource allocation, and the use of equivalent resources for all individuals with the means of compensation based on the amount of labor consumed. The main characteristic of socialism is that Prollettarian controls the means of producing workers through labor interests, and economic activity is still being organized through the use of incentives, and social classes are still less and less than capitalism. Some socialists support full nationalization of production, distribution, and exchanges.Other people, however, espouse national control over capital gains in the framework of the market economy, but the criticism of socialism is that socialist economics and political models are inefficient or incompatible with the freedom of civil society.
2.What was the most interesting thing you have read?
It was very interesting that the economics of capitalism evolved from the interaction of five categories, merchandise, money, labour, production, production and production. Individuals participate in the economy, labor, and investors simultaneously by providing both money and labor, and the company determines the products and production of products to produce. The reason why companies lead the capitalist economy is to constantly seek revenue. The profit motive also encourages businesses to operate efficiently by using resources in the most productive manner. A market is a term used to describe the central exchange through which people can purchase and sell goods and services. Demand and supply and competition occur mainly through the price of goods and services in the capitalist economy. The income of capitalist economies depends primarily on which technology is present and what technology is currently being supplied. In addition, in a capitalist country, individuals can work wherever they want. In addition, the government can decide which wage to pay and which pricing will be imposed on the product.
3.Dicussion question
Capitalism includes capital and production factors or means of production that maintain economic and social systems. By means of the means of production, the owner gains profits and the production pays for labor. However, capitalism has generated recurring problems with economic stagnation and bust and bust cycles. What is the limitation of the capitalist system? And what is the alternative to replacing the capitalist system? Can socialism be a way to replace capitalism?
The economy means the way people use the environment to meet the physical needs. It is a realization of the economic system in the country or elsewhere. This includes the production, exchange, distribution and consumption of goods and services in the area.
As societies grow and become more complex, the economy grows. The ancient economy was largely based on subsistence farming. Also, for most people, commodity exchanges occurred through social relationships. As trade evolved, mercantilism caused by trade was an approach to mediate between private and public interest. Mercantilism relates to merchant foreign traders, particularly the rapid growth of British geographical discoveries and rapid growth of foreign trade. Although Jun-san was produced mostly by non-productive production methods, it was a trading system for profit. And now, capitalism has replaced medium-stricken systems and led to economic growth. The Industrial Revolution system enables production and division of production to enable mass production. Capitalism has evolved gradually in Europe, and it has provided major industrial tools in many parts of the world. Because of the development of capitalism, the surplus resulting from the emergence of commercial agriculture promoted mechanization of agriculture. And the key characteristic of capitalism is the establishment of a huge industrial monopoly. However, capitalism has long had a long recession in the United States and the Great Depression, and debates on the long-term survival of capitalism have begun. Thus, capitalism stimulates economic growth with GDP. But capitalism creates social inequality within society as well as the ability to spur economic growth and improve living standards.
In contrast, socialism refers to the various theories of economic organizations that support the ownership and production of workers and the means of producing resources and resource allocation, and the use of equivalent resources for all individuals with the means of compensation based on the amount of labor consumed. The main characteristic of socialism is that Prollettarian controls the means of producing workers through labor interests, and economic activity is still being organized through the use of incentives, and social classes are still less and less than capitalism. Some socialists support full nationalization of production, distribution, and exchanges.Other people, however, espouse national control over capital gains in the framework of the market economy, but the criticism of socialism is that socialist economics and political models are inefficient or incompatible with the freedom of civil society.
2.What was the most interesting thing you have read?
It was very interesting that the economics of capitalism evolved from the interaction of five categories, merchandise, money, labour, production, production and production. Individuals participate in the economy, labor, and investors simultaneously by providing both money and labor, and the company determines the products and production of products to produce. The reason why companies lead the capitalist economy is to constantly seek revenue. The profit motive also encourages businesses to operate efficiently by using resources in the most productive manner. A market is a term used to describe the central exchange through which people can purchase and sell goods and services. Demand and supply and competition occur mainly through the price of goods and services in the capitalist economy. The income of capitalist economies depends primarily on which technology is present and what technology is currently being supplied. In addition, in a capitalist country, individuals can work wherever they want. In addition, the government can decide which wage to pay and which pricing will be imposed on the product.
3.Dicussion question
Capitalism includes capital and production factors or means of production that maintain economic and social systems. By means of the means of production, the owner gains profits and the production pays for labor. However, capitalism has generated recurring problems with economic stagnation and bust and bust cycles. What is the limitation of the capitalist system? And what is the alternative to replacing the capitalist system? Can socialism be a way to replace capitalism?
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