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Why does a modern capitalist economic system require the existence of markets?
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- Is capitalism associated more with a market or command economy? Why would capitalism be able to do "millions of things better" than a centrally planned economy? What things do you think a capitalist society would be more successful at than a centrally planed society?Why is Private Property and Competition are the most important to a capitalist economy?Which Characteristics of economy system are the most important to a capitalist economy?
- What are some deficiencies of the capitalist model?In a Capitalistic economy, due to the "mixed market" and economic freedoms that are a part of this system, is there a greater gap between the rich and the poor?Briefly list and explain each of the eight main shortcomings of the capitalist, free-market capitalist system.