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Week 1 Homework Assignment

In: Business and Management

Submitted By wdavis888
Words 829
Pages 4
Will Davis
July 13, 2014
Week 1 Homework Assignment
Which economic system is best suited for handling a crisis of epic proportions (hurricane, flood, blizzard, forest fire, etc.)? Why?
NIMS (National Incidence Management System) also known as FEMA. When there is a natural disaster, emergency crews (fire department, ambulance, police etc.) is usually the first help on the scene to help people out. Socialism system offers the best solution for handling emergency situations because the government takes care of paying the people who work there so everyone can focus on helping the people in need. Being a not for profit organization means that everyone doing what they are supposed to and looking after injured people's best interest. Socialism in its perfect form (which rarely ever happens) seems to be the best economic system because it teaches people how to share things with your neighbor and to help out on the time of need.
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.
A socialist society is more likely to have immediate and controlled impact on an emergency situation like the ones suffered in recent years throughout the world. Socialist societies are base in the good of the nation and the human needs of the people making them more efficient in regrouping and reorganizing their efforts. In these societies, each person has a role to play and they know what it is. There is no guess, no waiting for leadership, all but eliminating the flailing about of aimless masses unsure of what to do.
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.
The rule of supply and demand states that, changes in either supply, demand or...

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