Chamberlain ECON 312 ECON312 Week 1 Discussion Economic Systems
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ECON 312 Week 1 Discussion Economic Systems (Chamberlain College of Nursing)
Think of a business firm you recently visited (such as Walmart, Home Depot, Red Lobster, Barnes & Noble, McDonald’s, etc.). What motivated the producers of all the individual products in the store to make them and offer them for sale? How did the producers decide on the best combinations of resources to use? Who made those resources available, and why? How does the market determine who will get the goods and services? Who decides whether these particular products should continue to be produced and offered for sale? How do these decisions differ between capitalist and socialist systems?
Instructor lead discussion questions:
1. What are economic resources and how does scarcity of resources apply to economic decisions?
2. The U.S. government has been actively bailing out the banks and auto makers. Do
you think the government is taking a more capitalistic approach or more socialistic
approach?
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