Intro to Business and Technology - 27039

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Prepare a two- to three-page paper in APA style, sixth edition format that describes, explains, addresses, and answers the following questions or statements.

Which economic system is best suited for handling a crisis of epic proportion (hurricane, flood, blizzard, forest fire, and so forth)? Why? (10 points)

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. (10 points)

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. (10 points)

Include APA style in-text citations, as well as a reference section. (5 points)

Solution Description

During any disaster or epic proportions the economy situation of the country will be affected in a major way and the market value will be completely down comparing the other days. Every country should take necessary steps or precaution to face such disasters in an efficient way. Because the slow economy will cause the obstacle for the organizations to spread their business and also it will affect to overall stuck value. There are various economic systems proposed by the government to face such situations and to provide an economy in the country (B Wisner 2004). Among all the systems “free market” economic system which contributes a lot for the growth of the economy. This system basically involves the private sector owning most resources which leaves the government's main function as facilitating and aiding economic activity. This particular division of responsibility is considered particularly strong in a disaster situation because the infrastructure of the economy would be severely disrupted meaning that, in this case, the government would be focused on rebuilding and encouraging investment in the private sector (G. Bankoff 2003). Considering an example of the “free market” economy system, the government would likely introduce ways of lending money such as grants and low interest loans which would help the private sector get on with their main concern whilst making them more efficient because their predominant motivation would be profit which, in this case, would greatly aid regeneration. Apart from that many other economy systems such as communism and dictatorship are the best solution for handling various disas

Homework Intro to Business and Technology.docx
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