POV: You are here ‘cuz your teacher sent you. The only thing keeping you entertained is the comments. You read the comments while the video is playing but you miss the entire video so you have to watch it again. Lol
Sharifah Fitrah the key economic issue is scarcity. Every society needs to figure out how to deal with it. All of the systems find different ways to deal with the scarcity problem, some with more government regulations and others with less. Which part of the video is confusing you? I want to make sure I can help
Mr. Sinn Thankyou. Your video very helpful to me. however, i want to know about the key issue on the value for money ya? Because it always came out on my past year exam
Corbin spends his entire income on the consumption of two goods X and Y. Explain what would happen to the equilibrium consumption of two goods, X and Y, if (a) income doubled and all prices tripled, (b) all prices doubled and income tripled, and (c) all prices and income doubled. In each case, show the effects when both goods are normal goods and when one good is a normal good and the other an inferior good Sir please answer this. I have to submit it in a couple of hours. I beg of your help Sir
I would add to the explanation of disadvantages, such systems do produce sufficient basic needs it is just that due to uneven distribution of income, not everyone can afford those goods & services. However, this potential for low quality of life does act as an incentive to strive per Adam Smith that we act economically out of regard for self interest. Also, when mentioning the uneven distribution of income, you should note this is a function of all economic systems and not just capitalism. For instance, in Middle Ages Europe (a tradition system) you had a wide range of wealth levels from nobility to serf. Likewise in the Soviet Union (command system/socialism) you had the wealthy party leaders and a range all the way down to the average citizen.
@@kylanaveros8998 Good Morning Kyla. The answer depends on what kind of command system the business must deal with. In Communist command systems (government owns means of production); business is run by the government. They are literally told what to make, how much, and how to distribute the results. However, they suffer from what is called diseconomies of scale, which means a business (in this case the government) is so large it loses efficiency - especially due to insufficient ability to pass communications between levels of government and lack of time to make informed decisions. Add to that issues like dictators making decisions based more on attaining and retaining power (for example: Stalin collapsing farm production and causing the Ukraine Famine just to put the farmers under his thumb) and you get a situation where communist states couldn't even produce enough to feed themselves, let alone meet the needs of their populations. Fascist command systems (private ownership of means of production with government control) seem to suffer similar issues, but to lesser degrees due to companies having more ability to make decisions on how to operate and interact with other companies as long as they remain within overall parameters of the dictatorial govt. Consider how Oscar Schindler was able to exploit the limited flexibility to save Jewish people from the death camps, and turn out faulty equipment - but maintain the illusion he was producing war supplies by buying a small amount of working equipment from other manufacturers. Hope this helps.
Kind of peculiar how free market capitalism really hasn’t sold the issue of poverty. One of the biggest capitalist countries United States has the highest poverty rating in comparison to other great powers like Great Britain and Germany. And I am aware that the United States economy is not the libertarian ideal however it was quite a free market prior to 1930. And Americas poverty rating was a lot higher regardless of the free market. The free-market ideology is flawed just as much as the concept itself.
rather than make students pay for youre notes make youre own websites where you can show youre notes and give ads on youre website then the viewers will be happy and you will earn youre money from ads
Hi! Can you expound on the ethical perspective in the real market economy in terms of harmonic competition and how does this relate to you a responsible citizen and me as a student?
Here because I have to take a test about the economy's and my teacher posted every one of his economy links for me to watch. Honestly looking up answers and listening to music instead. SORRY MR SIN
POV: You are here ‘cuz your teacher sent you. The only thing keeping you entertained is the comments. You read the comments while the video is playing but you miss the entire video so you have to watch it again.
Lol
so true
@@camreaney9473 😂
real
i'm here cuz we have online learning rn and my teacher has a million links to your videos that we need to watch
Welcome! I hope the videos help
Radioactive Pickle same.
same pickle
Same but corona is still here😢
Same here
POV: you are sent by the teacher from online school
In this case, I am the teacher also.
same
u caught me 😕😕😕
yes
Hello ! Exactly this was what I was searching to learn my economic system lesson. Great explanation. Love from Sri Lanka
Great video Sir ! Thank you.
Excellent content! I'm using your videos and the notes for my Social Studies lessons with Grade 8 in Thailand. Thanks a lot!
what is the different between market economy and market system?
Everyone: here because their teacher sent them or they are in an economics class
Me: Here because she just wants to be here
Sameee
Where is guided notes, I cant find in commments
for next week's debate … the finale exam is the debate between market economy and planned economy...
冯Vincent you will have to let me know which side has better points!
You saved my Exam🎉🎉
This pretty darn cool man
great video
That video was so helpful to me
I can not find the guided notes, I think it would help my class
there were deleted
Hi, may i know the answer oh key issue regarding of economic which best alternatives, best choices n etc. I need an explaination of it
Sharifah Fitrah the key economic issue is scarcity. Every society needs to figure out how to deal with it. All of the systems find different ways to deal with the scarcity problem, some with more government regulations and others with less. Which part of the video is confusing you? I want to make sure I can help
Mr. Sinn Thankyou. Your video very helpful to me. however, i want to know about the key issue on the value for money ya? Because it always came out on my past year exam
@@MrSinn hey can u please help me, how does the business run in command economy
When you realize you have to pay for the guided notes
My money: you do not have the facilities for that big man
Lol
Thank you
Good sir thanks
Where can I find the notes?
They were deleted
Appreciate your efforts.
You need to make a video on functionings of the market economy
I’m tryna do my homework hurry up
Awesome
Honestly, I'm not an eco student. I'm here just to know what it is?
im going to be smart now thank you mr. sinn
You saved my exams!!!😊
I am here bc I have a test soon :)
thank you mr sin
POV you were sent here by your teacher and the comments are the only things keeping you entertianed
Corbin spends his entire income on the consumption of two goods X and Y. Explain what would happen to the equilibrium consumption of two goods, X and Y, if (a) income doubled and all prices tripled, (b) all prices doubled and income tripled, and (c) all prices and income doubled. In each case, show the effects when both goods are normal goods and when one good is a normal good and the other an inferior good
Sir please answer this. I have to submit it in a couple of hours. I beg of your help Sir
haha he didnt answer
Where r the notes ????
I would add to the explanation of disadvantages, such systems do produce sufficient basic needs it is just that due to uneven distribution of income, not everyone can afford those goods & services. However, this potential for low quality of life does act as an incentive to strive per Adam Smith that we act economically out of regard for self interest.
Also, when mentioning the uneven distribution of income, you should note this is a function of all economic systems and not just capitalism. For instance, in Middle Ages Europe (a tradition system) you had a wide range of wealth levels from nobility to serf. Likewise in the Soviet Union (command system/socialism) you had the wealthy party leaders and a range all the way down to the average citizen.
Hi can u please help me, how does the business run in the command economy?
@@kylanaveros8998 Good Morning Kyla. The answer depends on what kind of command system the business must deal with.
In Communist command systems (government owns means of production); business is run by the government. They are literally told what to make, how much, and how to distribute the results. However, they suffer from what is called diseconomies of scale, which means a business (in this case the government) is so large it loses efficiency - especially due to insufficient ability to pass communications between levels of government and lack of time to make informed decisions. Add to that issues like dictators making decisions based more on attaining and retaining power (for example: Stalin collapsing farm production and causing the Ukraine Famine just to put the farmers under his thumb) and you get a situation where communist states couldn't even produce enough to feed themselves, let alone meet the needs of their populations.
Fascist command systems (private ownership of means of production with government control) seem to suffer similar issues, but to lesser degrees due to companies having more ability to make decisions on how to operate and interact with other companies as long as they remain within overall parameters of the dictatorial govt. Consider how Oscar Schindler was able to exploit the limited flexibility to save Jewish people from the death camps, and turn out faulty equipment - but maintain the illusion he was producing war supplies by buying a small amount of working equipment from other manufacturers.
Hope this helps.
@@lancehitchcock6608 wow thats too much! Thankyou for not ignoring me. Love it! Thanks a lot 😍
@@jelitaaruan10 how can I help?
Thank you. You made ito so easier 👍👍👍
Thanks for the video. please do you have any ideas about What are the similarities between the social networking site and a market?
Who else here because of an essay
Bay Whedon me
Bay Whedon I have a test
SOCIALISM IS BEST
GOD BLESS MADURO CASTRO EVO
Kind of peculiar how free market capitalism really hasn’t sold the issue of poverty. One of the biggest capitalist countries United States has the highest poverty rating in comparison to other great powers like Great Britain and Germany. And I am aware that the United States economy is not the libertarian ideal however it was quite a free market prior to 1930. And Americas poverty rating was a lot higher regardless of the free market. The free-market ideology is flawed just as much as the concept itself.
communism will prevail
I am here because I have two make I diary of someone in a market economy. I'm probably going to fail:)
rather than make students pay for youre notes make youre own websites where you can show youre notes and give ads on youre website then the viewers will be happy and you will earn youre money from ads
Hi! Can you expound on the ethical perspective in the real market economy in terms of harmonic competition and how does this relate to you a responsible citizen and me as a student?
it helps a lot
Can I get some text for my assigment for free market economic system of possible
Final's tomarrow
So we all here cause of school rn?
am i the only here who is only studying for an competition rather than basic school
Here because I have to take a test about the economy's and my teacher posted every one of his economy links for me to watch. Honestly looking up answers and listening to music instead. SORRY MR SIN
I'm here cuz i have exam tomorrow:'(
it has a 4 economic question not only 3
Free market is the best and most effective economy type, governments are best when they govern less.
I have a presentation tomorrow.-.
i am here because it is informed
Thank you so much
POV: you're trying to pass your econ final
I’m doing homework now my mom knows about homework cuz virus and my teacher sent it to her oof
it"s so similar to capitalism, are they the same?
Thanks..!!!😍❤
Imagine having 75k subscribers and not being the most famous sinns
What you talking about? The other guy has tens of millions.
Your name should be Jack
I’m here because cats are kind
jonny sins with hair
eye andrew best class h1h3
MARK MARK MARK
Andrew yes
Lies
Mr sinn. Why do you sin?
Союз нерушимый республик свободных сплотила навеки единая Русь
im here because my teacher made me :(
U looked like sheldon
Hi miss mona
Querubin sadboi
☯️🌏🕵🏻♂️👣🌌
Naa not enough
u cute
Oof Nice video
I am sad this tAKINg up my recomended
hi
Same lol
Online school check
This is soviet territory now
bruh
You wish
I am sad this tAKINg up my recomended