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Problem-
Review the four Foundations of Capitalism (i.e., ideas foundational to a market economy) which are in the text book. Then review the 10 Planks of the Communist Manifesto (i.e., ideas foundational to a command economy) which are near the end of ‘Chapter II Proletarians and Communists' (available as a document by that name under the Helpful Resources content heading). Link below:
https://www.marxists.org/archive/marx/works/1848/communist-manifesto/ch02.htm
Discuss how the Foundations of Capitalism and the Planks of the Communist Manifesto are similar. Discuss how they differ.
Discuss three ways in which your current life is different because of the economic system you have lived under.
What are your thoughts as to why a poor or under employed person in a market economy might reject capitalism and prefer a socialist or communist state?
Additional information-
This problem relates to Economics and it discusses about the similarities and differences between foundations of Capitalism and the Planks of the Communist Manifesto.
Word limit- 400.
Using a traditional game theory 2x2 matrix, show how this law prevents a prisoner's dilemma and thereby actually makes models better off. In other words, show what the game theory matrix looks like without this law.
The Optimal Scam Corporation would like to see its sales grow at 20% for the foreseeable future. Its financial statements for the current year are presented below.
Assume demand shifts out to the right by 10 percent, the elasticity demand is 1.5 and the elasticity of supply is .5, By how much will price change.
An internal study at Mimeo, revealed that much of its workers assembles 3 copiers per hour and is paid $3 for every assembled.
Explain in detail how a decrease in consumer demand for a product will result in less of the product being produced and in fewer resources being allocated to its production.
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