StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

N/a - Essay Example

Comments (0) Cite this document
Summary
Economists associate capitalism concept with Adams Smith while socialist connects it to the Marxist capitalist theory by Karl Marx. It is a…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91% of users find it useful

Extract of sample "N/a"

Capitalism and Socialism Capitalism and Socialism To imperatively discuss the essay, it is in order to dichotomize the unembellished key concepts ‘capitalism and socialism system’. Economists associate capitalism concept with Adams Smith while socialist connects it to the Marxist capitalist theory by Karl Marx. It is a socio economic system which emphasizes the owners of capital investments control the economy. Means of production are controlled by the private market as opposed to government controls. Under this system, the major motive of the private companies is to make profit and maximize wealth of its shareholders. It is also referred to as free market system. Prices and distribution are controlled by competition. (Britton, 2012)
Characteristics of Capitalism
The system controls what to produce, how to produce it and the final consumers.
The system must be in a position to adapt to changing economic climates
Individuals have the right to own property (private property)
There is freedom to make various economic decisions
The system provides room for competition
There are limited government regulations
The system set prices for goods and services
The system gives room for destruction of unwanted resources. (Britton, 2012)
It is expected that every economic system should address fundamentals such as; the type of goods and services which are produced within the economy, It must be in a position to address how these goods are produced within the economy and finally the source of demand for these goods. All these requirements are addressed by the capitalism economic system. The system recognizes the issue of scarcity within the society and therefore the question of opportunity cost.
Socialism
Socialism economic system, advocates for common and public ownership of resources. It advocates for common ownership of property and other important resources in the economy. The production arrangement is designed to meet the demands of the common man. With this kind of arrangement, all the goods required by the populace will be produced.
Differences between socialism and capitalism
Socialism fosters on communal ownership of resources. It gives power to the citizens to control the means of production. Therefore there are no wide gaps, i.e. the haves and proletariats. Capitalism is a free market system which fosters on the private ownership of property. Means of production and distribution is wholly under private ownership. The system is characterized by sole motive of competition to make profit. (Britton, 2012)
The oil in the United States of America is handled in a form of capitalism. The production is majorly driven by the need to make profit. The full control of oil is purely private ownership based. In Mexico, the oil industry is partially competitive and profit driven and other hand, communal well being driven. It is operated as a mix of both capitalism system and socialism system. It is important to note that in Mexico, the government has a keen interest on oil and therefore subjects some regulations. Norway, one of the wealthiest countries in the world operates a mixed system which gives room for the private investors to exploit the resources fully. At the same time the government is in a position to legislate some regulations to ensure that the locals also benefit. Oil is operated through the mixed system. (Britton, 2012)
Reference
Britton, T., L (2012), Economic systems, ABDO Pub Co: Minneapolis, MN Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“N/a Essay Example | Topics and Well Written Essays - 500 words - 1”, n.d.)
N/a Essay Example | Topics and Well Written Essays - 500 words - 1. Retrieved from https://studentshare.org/macro-microeconomics/1602244-na
(N/a Essay Example | Topics and Well Written Essays - 500 Words - 1)
N/a Essay Example | Topics and Well Written Essays - 500 Words - 1. https://studentshare.org/macro-microeconomics/1602244-na.
“N/a Essay Example | Topics and Well Written Essays - 500 Words - 1”, n.d. https://studentshare.org/macro-microeconomics/1602244-na.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF N/a

N/a

...?Law College: Principles of Equity and Trust The concept of equity and trusts has been a controversial issue in the English law especially while dealing with complex issues that arise between trustees and beneficiaries. Trusts are legal bonds in which one person, the settlor, grants powers to another, the trustee, to act on his behalf, say after his death, to pass his properties to their rightful beneficiaries. In this case, the trustee bears an obligation to pass the property to the beneficiaries, either as stated by the settlor or at his own discretion. As opposed to express trusts where the beneficiaries are explicitly stated, in discretionary trusts, the trustee has the power to elect the beneficiaries depending on the class... College:...
12 Pages (3000 words) Essay

N/A

Allowing Performance Enhancing Drugs in Sports Introduction: The area of human activity that is associated with a dramatic spurt in the quality and quantity of performance enhancing drugs is the arena of sports. The performance levels required to succeed at the highest levels of sport are at the limits of human endeavor and with so much competition and money involved in the success associated with sports, there is the strong temptation to indulge in the use of performance enhancing drugs to gain the required edge and be a part of fame and financial gain that success in sports brings.
Performance Enhancing Drugs in Sports:
The use of performance enhancing drugs in sports is defined as “the administration to sportsmen or spo...
2 Pages (500 words) Essay

What advantages does a herfindahl-type index have as a measure of industrial concentration over an n firm concentration ratio

...The n-firm concentration ratio and the Hirschman-Herfindahl index, alternatively known as the Herfindahl index both are measures that attempt to assess the degree of concentration of firms in industries by using the market shares of individual firms to construct indices. While the Herfindahl-type indices use the market shares of all the firms present in any industry, the n-firm concentration ratio uses the market shares of the top ‘n’ number of firms. By the top firms here we refer to the firms with the highest market shares. The ‘n’ firm concentration ratio is calculated as the percentage of the share of the market captured by the ‘n’ largest firms in the industry1. So, it can be expressed as CRn = S1 + S2 + S3 +  ... + Sn; Si = market...
2 Pages (500 words) Essay

Hariharan N The Musical Genius

...HARIHARAN N –The Musical Genius It is uncommon to find well-educated artists in the entertainment industry, but in the case of India, Hariharan isan exception. Hariharan has finished two bachelors’ degree: in the field of law and science. Two contrasting disciplines that takes a lot of commitment to pursue; however, the music in his blood did not die since he pursued a musical career. The year 1977 was the year that validated that music ran in his veins when he bagged the top-prize in the All-India Sur Singaar competition. It was a very prestigious competition then; moreover, he was immediately signed on by a music director then to sing for the Hindi film “Gaman” ( hindiflix.com). from then on, This was the start of his popularity...
5 Pages (1250 words) Essay

N/A

...Photography Photography is the prosaic fusion of arts and science. It is the process of capturing light and electromagnetic waves into durable images. Classifying photography into genres is a bit difficult; differentiating one technique from other can be tedious. For instance, is portraiture a genre or a technique? Similarly who will decide in which category to place high speed photography? There are tons of photographic genres defined so far. To name a few; fashion photography, flash photography, aerial photography, black and white photography, stock photography, environmental photography, erotic photography and the list goes on. As far the evolution of these genres is concerned, one needs to trace each genre back to its... Photography ...
2 Pages (500 words) Essay

N/A

It was established in 1958 from its predecessor NACA – National Advisory Committee for Aeronautics – and has posted remarkable performance including the famous Apollo moon-landing missions and lately, the Space Shuttle project.
O’Keefe came from a financial management background when he joined NASA with his mission being to mitigate $4.8 billion overrun problem of the International Space Station. The administrator faced pressure from enthusiastic astronauts to land to the Moon and Mars. But O’Keefe intended to have an overhaul of the policies of NASA before embarking on the Moon-Mars mission (Lambright, 2008). The aim of this paper would be to evaluate the leadership portrayed by O’Keefe in NASA towards attainment of the set m...
5 Pages (1250 words) Essay

N/A

...Negligence in nursing practice Negligence in nursing practice I personally think it is a negligent for a nurse to leave a patient without confirming if the other nurse has returned to the floor. This is because sudden risks may arise in the course before the other nurse reports on duty. Such situations are considered as negligence of the highest order and are considered as vice by the nursing code of conduct. According to Croke, negligence is a failure to take the appropriate responsibility or care on a person from injury or damage of similar kind. According to the nursing code of ethics, if a nurse leaves his duty before handing over to the next person if in shift is believed to be an inhuman practice. This is because, each... in nursing...
2 Pages (500 words) Assignment

N/a

...Spanish Culture Spanish Culture Food Service Styles Spanish culture adopts food and table service styles that are used across the globe though there could be variations that are unique to Spanish culture. Spaniards maintain a notable consistency in menu, décor, uniforms, cuisines, table setting and ambiance (Eichler, 2013). i. French service-it involves three courses at the table side. Food is mostly cooked from Gueridon (Eichler, 2013). French service is considered a reserve for the elegant in Spain. ii. Platter service-this service is faster than French service and it is used in banquets. Hot food is served from a silver platter at the tableside. iii. Butler service- it is a personalized food service where they choose... Culture Spanish...
2 Pages (500 words) Essay

In-N-Out Burger

... & Armstrong, 2014). Likewise, case facts also revealed that In-N-Out makes sure that the patties being used for their burgers were never frozen. This was noted to be made possible since they reportedly own patty-making commisaries. In addition, all ingredients are natural: potatoes for their french fries, and real ice cream for the milkshakes. As a result, the customers who patronize In-N-Out stores are not only satisfied, but delighted to eat these products. In fact, many of the customers were revealed to queue for long hours just to avail of their products, especially when a new outlet was reported to be launched in an identified state. Aside from the products which evidently exhibit high quality in value perception to the customers...
4 Pages (1000 words) Coursework

N/a

... Creative Writing Everyone has a preferred location to escape when he feels like relaxing. They always go there when they want to be alone away from noise and disturbance of people. My best and comfortable place is spring. Spring is considered the king of seasons. The springtime makes me relax as no other location could do. I normally enjoy the beauty and charming nature of this wonderful season. During spring season, I prefer spending more hours outside my house, be it mountains or fields. I love sitting on grass as I listen to the sound of nature around. When I glance around me , during this time, I see beautiful and clear things. For instance, the tall green vegetation and leaves of the trees sway breeze. Then I see pastel... Creative...
2 Pages (500 words) Essay

Movie Review: Boyz N The Hood

The parents, on the other hand, tried to ensure that they stay away from all these and lead a healthy lifestyle so that they can become responsible citizens in future. The environment of a ghetto is a mixed atmosphere altogether. We get to see everything in the movie. The central character of the film, Tres is a smart person but even he is curious about the things that happen in the hood. Being a kid, he has heard many issues related to sex, drugs and killings and these things have always intrigued him in some way or the other. However, it is up to him to take up the good things or get involved in the bad things in the neighborhood. In a nutshell, the youth environment in the movie has everything to offer and it is up to the viewe...
4 Pages (1000 words) Movie Review

N/A

...Problem Identification of the of Assignment 3 Problem Identification Introduction Previously, research had been conducted on customer reviews through websites, such as Trip advisor, Open table and Yelp, with respect to the Oak Room Restaurant. Thereafter, the data obtained had been analyzed, in order to assess the competitive advantage of this restaurant. The following possible areas of improvement were observed with regard to the Oak Room Restaurant. 2. Possible areas of improvement 2.1 Quality of Services-Staff Attentive, efficient and innovative staff constitute the backbone of any organization, and this is especially true of restaurants. The importance of the staff emerges from the fact that they interact directly... Identification of ...
5 Pages (1250 words) Research Paper

N/A

... Task: Position Advertisement A new catering company in town is looking for qualified and ambitious individuals to fill the position below. This is a great opportunity to be part of an ambitious catering team and work closely with an experienced team to provide high quality service to our clients. Catering manager The manger will coordinate all activities in the catering department and ensure that the highest quality and excellence in service provision. This involves motivating employees, developing new dishes and experiences and working towards the general reputation of the company. A bachelor’s degree in hotel management and 3 years experience are necessary for the position. Qualified candidates should apply through the website...
1 Pages (250 words) Admission/Application Essay

N/A

...-Star-Hotels-Great-Hospitality-Service.htm Kaihara, T., Fujii, N., Nonaka, T., & Shinmura, T. (2014). A Proposal of Adaptive Restaurant Service Model with Co-creative Design. In M. Mochimaru, Serviceology for Services: Selected Papers of the 1st International Conference of Serviceology (pp. 203-212). Tokyo, Japan: Springer. Lowe, M. C. (2012). California. Meetings & Conventions, 47(10). Magellan Luxury Hotels. (n.d.). San Francisco Luxury Hotels. Retrieved October 9, 2014, from http://www.magellanluxuryhotels.com/san-francisco/westin-stfrancis-hotel-san-francisco Miller, D. (2014). Getting Food Quality Precise is an Ingredient for Sustaining and Growing a Successful Restaurant. Retrieved October 26, 2014, from http://hotelexecutive.com...
10 Pages (2500 words) Essay

N/A

...PSY403: Unit 6 Questions Importance of Central processes in auditory perception. Auditory perception refers to the ability to perceive and immediately understanding different sounds produced, normally with particular organs like ear. Sound existence is in the form of vibrations traveling through air and other substances (Yost, 2008). The organ detects the vibrations, changing them into impulse immediately sent to the brain for interpretation. Here the brain is primarily responsible for many processes that convert most incoming noise into something meaningful and understandable. The central auditory processes, however include the auditory mechanisms as well as the processes responsible for behavioral characters like auditory... Unit 6...
2 Pages (500 words) Coursework

Rock n Roll and Social Change in the USA and Britain

... all areas of life in the United States and Britain. It allowed for the pushing of boundaries that had been maintained for centuries concerning sexuality and society while at the same time calling for peace in a world that had been affected by war. Coming to popularity almost immediately after the Second World War, rock n roll music ushered in a new age where social change concerning sex, religion, fashion, and drugs took place. Rock n roll developed in a period where after a century of racial tensions in the United States after the Civil War, the segregation system was essentially falling apart. This is reflected in the origins of the music itself where despite its mainly African American origins; it ended up being increasingly popular...
6 Pages (1500 words) Essay

Decision Analysis of N&F Company

...Decision Analysis N&F is a company that was founded at the end of 1981 based at a single site in Sheffield, manufacturing and distribution. From this modest start in 1981, the number and geographical spread of the customers has increased rapidly in part as a result of the company starting to sell directly to customers over the internet in 2003. This rapid growth has caused problems both in the distribution of goods to the customers, warehousing and transport Task 1 The diagrams below show the analysis of product range and profit analysis of area one and area two respectively. Diagram 1 Diagram 2 Interpretation From the diagrams, we can infer that region one performed higher than region two...
12 Pages (3000 words) Case Study

The Dying Ground by Tramble, N

.... This was the moment that Maceo essentially chose the drug world over the respectable one. It turns out that his sacrifice was for naught, however, as Flea left him anyhow. Although it was unsaid, Maceo was basically alone at the end of the book. He no longer had Flea; he no longer had Alixe; and his Daddy Al had turned his back on him. Although Maceo still apparently had Holly, this was a small comfort, for Holly represented Maceo’s choice. This choice was to remain in the drug world, and, although this is not made clear, the assumption is that Maceo, having made his choice, probably followed the path to its logical conclusion and started dealing drugs himself. Source Used Tramble, N. (2001) The Dying Ground. New York: Random House....
11 Pages (2750 words) Book Report/Review

Interntionnal business n focus

... than their competitors because of economies of scale and thereby eradicate the threat caused by prices wars. Secondly, through market penetration, Tesco will be able to increase its market share, which will in turn make it hard for other new retailers to enter into the market and it will have an equal financial muscle as Wal-Mart, which is the parent company of Asda, its main rival in the UK. References Acur N. and Bititci U. (2004) A balanced approach to strategy process, International Journal of Operations & Production Management, Vol. 24 issue 4, pp.388-408; Ansoff, I. (1957). Strategies for Diversification, Harvard Business Review, Vol. 35 Issue 5, pp. 113-124 Bernard, B., (1981), Feasibility study of a new business, N Y, Sage...
11 Pages (2750 words) Assignment

Dancing Identities in Drum n Bass Club Culture

Yet several music researchers, journal records and handling artists depict the classification as found at the convergence of a reach of musical and social impacts, announcing the style as a result of the 1990s urban, multicultural Britain. Although early depictions of club groups of onlookers help this thought by delineating them as racially blended, researchers Gilbert and Pearson identity a later splitting of the class into "dark" and "white" audiences (Ladner, 2004). This strain is still evident in contemporary British drum "n" bass club society: whilst youthful, white, male clubbers now rule the scene, their development practices are ostensibly "appropriated" from mainstream representations of a racialized Other. Stuart Hall p...
7 Pages (1750 words) Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic N/a for FREE!

Contact Us