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Homework assignment #1

Homework assignment #1
Michael Sterner
Michael_lee_sterner@yahoo.com
Content

Introduction…………………………………………………………………………...page 2

Question 1 ……………………………….………………….………………………… page

Question 2 ……………………………….………………….………………………… page

Question 3 ……………………………….………………….………………………… page

Conclusion………………………………………………………………………....... page

References………………………………………………………………………....... page Homework assignment#1

Hello my name is Michael Sterner and I am writing a essay to day to answer some questions on a few topics about our economy. The purpose of this paper is to answer 3 questions about (1)Which economic system is best suited for handling a crisis of epic proportions (hurricane, flood, blizzard, forest fire, etc.)? Why? (2) Describe and explain why a socialist system might be the best in responding to the needs of people struck by an emergency situation like the earthquake that occurred in Haiti in January 2010? And finally (3) Use the laws of supply and demand to explain why the cost to heat our homes and businesses goes up in the winter time. Be sure to explain your answer fully?

Q1: Which economic system is best suited for handling a crisis of epic proportions (hurricane, flood, blizzard, forest fire, etc.)? Why?
The Socialism system seems to offer the best resolution for controlling emergency situations. Socialism, in its perfect form, would be the best economic system to assist people because it demonstrates to people how to come together during this time of crisis and assist each other in this time of great need. Socialism is an economic structure based on the proposition that some, if not most, rudimentary businesses such as coal mines and utilities, should be retained by the government so that revenues can be more equally dispersed among the populace.
For example, if a huricanes or tornado hit a city the people would assit there neigbors in getting help and water and shelter.

Q2: Describe and explain why a socialist system might be the best in responding to the needs of people struck by an emergency situation like the earthquake that occurred in Haiti in January 2010?
The socialist system can better respond in emergency situations because the government can more easily mobilize the resources needed to respond since the government owns most public services.because the services we offered to hati members were our red cross and our military in shipping fresh water and food and tents to the people in hati. Not only were those services rendered but we alos took donations from multiple orginazations to help send supples over to hati and to the people of hati in 2010.

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