Understand Socialism

Understand Socialism - Understand Som Som is an economic...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Understand Som Som is an economic system based on the premise that some, if not most basic businesses such as steel mills, coal mines, and utilities should be owned by the government so that profits can be more evenly distributed among the people Benefits of som Social equality Free education Longer vacations Negative Consequences of Som Takes away some of business peoples incentives to start work early and leave work late. Brain Drain- The loss of the best and brightest people to other countries. Understanding Communism Communism is an economic and political system in which the state makes almost all economic decisions and owns almost all the major factors of production. Government has no way of knowing that to produce because prices dont reflect supply and demand as they do in free markets. Communism is disappearing, most communists countries today are suffering The Trend Toward Mixed Economies Free Market Economies- exist when the market largely determines what goods...
View Full Document

This note was uploaded on 02/10/2012 for the course MGT 101 taught by Professor Staff during the Fall '10 term at Texas State.

Page1 / 2

Understand Socialism - Understand Som Som is an economic...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online