Market vs. Planned

Market Based Economy Private Property - Individuals, rather than government, are the owners of resources, goods, etc. Private Property - Individuals, rather than government, are the owners of resources, goods, etc. Individual freedom - Those who have private property, goods, resources, etc. have the freedom to use property as the see fit. Individual freedom - Those who have private property, goods, resources, etc. have the freedom to use property as the see fit. Competitive markets - Market are used to exchange privately owned commodities and to answer the three questions of allocation. Competitive markets - Market are used to exchange privately owned commodities and to answer the three questions of allocation.

Planned Economy Government control Government control –Market failure inefficiencies, especially market control. –Business cycle instability that creates unemployment problems. –Concentration of wealth and income and resulting inequality problems.

U.S. Mostly free: Mostly free: 1.Business 2.Labor Not so free: Not so free: 1.Government spending 2.Corruption

Ford Motors Dec. 31, 1988: Ford's worldwide earnings were $5.3 billion, the highest of any auto company to date. 2005: Ford loses market share for the 10th year in a row, and also loses its place as America's best-selling brand to GM's Chevrolet. Ford sold around 2.9 million vehicles in 2005 for a 17.4 percent market share down from a market share of 18.3 percent in 2004 and of 24 percent in 1990.

Effects… Income/salary Income/salary Wealthy Wealthy There are people that are financially stableThere are people that are financially stable Better benefit the countryBetter benefit the country

Continued… Income/salary Income/salary Poverty Poverty Free market, more space for bad decisionsFree market, more space for bad decisions Not every one has guaranteed successNot every one has guaranteed success If economy goes down, the people go with it, but the government still offer Medicare, social security and other type of help. If economy goes down, the people go with it, but the government still offer Medicare, social security and other type of help.

China Planned till 1980s Planned till 1980s Although the reforms were encouraging, the Chinese government experienced various difficulties. It struggled to collect revenues due from provinces, businesses, and individuals; to reduce corruption and other economic crimes coinciding with the reforms; and to maintain daily operations of the large state-owned enterprises. Many of the state-owned enterprises had not participated in the vigorous expansion of the economy, and some of them had lost the ability to pay full wages and pensions. Although the reforms were encouraging, the Chinese government experienced various difficulties. It struggled to collect revenues due from provinces, businesses, and individuals; to reduce corruption and other economic crimes coinciding with the reforms; and to maintain daily operations of the large state-owned enterprises. Many of the state-owned enterprises had not participated in the vigorous expansion of the economy, and some of them had lost the ability to pay full wages and pensions. Read more: Pacific/China-OVERVIEW-OF-ECONOMY.html#ixzz2DkHaiSt5 Read more: Pacific/China-OVERVIEW-OF-ECONOMY.html#ixzz2DkHaiSt5http:// Pacific/China-OVERVIEW-OF-ECONOMY.html#ixzz2DkHaiSt5http:// Pacific/China-OVERVIEW-OF-ECONOMY.html#ixzz2DkHaiSt5

Effects China's Going Global Policy, where Chinese companies are looking to increase their international presence by investing abroad China's Going Global Policy, where Chinese companies are looking to increase their international presence by investing abroad The Chinese government's desire to increase its overall FDI The Chinese government's desire to increase its overall FDI The need to develop new markets for Chinese goods The need to develop new markets for Chinese goods Inequality Inequality –Urban vs. Rural The owners always make the money, it it just so happens that the Urban Chinese people get that side of things The owners always make the money, it it just so happens that the Urban Chinese people get that side of things Works arent paid very much do to the fact that they just work in farms, factories etc. The Rural Chinese people tend to get this side of things. Works arent paid very much do to the fact that they just work in farms, factories etc. The Rural Chinese people tend to get this side of things. Read more: economic-growth Read more: economic-growthhttp://seekingalpha.com/article/ global-effects-of-china-s- economic-growthhttp://seekingalpha.com/article/ global-effects-of-china-s- economic-growth

… United States –United States is fairly free but I feel as if the government is trying to handle everything more and more each year. This is going down and yes I believe China is going to be the new power soon

… China –The country of China was communist but now that it made the change, it looks like nothing is stopping it from becoming the power of the world. The economy is strong and only growing. China is cute!

Work cited bin/awb_nav.pl?s=wpd&c=dsp&k=market- oriented+economy bin/awb_nav.pl?s=wpd&c=dsp&k=market- oriented+economy bin/awb_nav.pl?s=wpd&c=dsp&k=market- oriented+economy bin/awb_nav.pl?s=wpd&c=dsp&k=market- oriented+economy y.html y.html y.html y.html rich-class-years-ago.aspx rich-class-years-ago.aspx rich-class-years-ago.aspx rich-class-years-ago.aspx and-the-Pacific/China-OVERVIEW-OF-ECONOMY.html and-the-Pacific/China-OVERVIEW-OF-ECONOMY.html and-the-Pacific/China-OVERVIEW-OF-ECONOMY.html and-the-Pacific/China-OVERVIEW-OF-ECONOMY.html

4321 Market Based Economy: Needed specific historical examples of how goods, services and resources are allocated. More explanation in the presentation on the descriptions of each type of economy as well. Includes a full description of a Market based economy including historical examples, and specific examples of how production, distribution and consumption of goods, services and resources are allocated. Includes a partial description of a Market based economy including historical examples, and specific examples of how production, distribution and consumption of goods, services and resources are allocated. Includes an incomplete description of a Market based economy. It is missing historical examples, and or specific examples of how production, distribution and consumption of goods, services and resources are allocated. Includes a poor or incorrect description of a Market based economy examples are completely missing. Examples and evaluation of the US economy: There were times in the presentation that I could not tell if you really understood how the US economy demonstrates a Market Based Economy. You did not elaborate on your example and it was very surface level. Includes a full examination of the US economy and to what degree it demonstrates a fully Market based economy. There are multiply examples discussed and analyzed in detail. Detailed examples of the effects on everyday citizens are given. Includes a partial examination of the US economy and to what degree it demonstrates a fully Market based economy. There are multiply examples but not all are discussed with enough detail. Brief examples of the effects on everyday citizens are given. Includes an incomplete examination of the US economy and to what degree it demonstrates a fully Market based economy. There are few or no examples with little to no detail. Examples of effects on everyday citizens are confusing, or contain incorrect information. Includes a poor examination of the US economy and to what degree it demonstrates a fully Market based economy. There are no examples given. No examples of the effects on everyday citizens are given. Planned Economy Needed specific historical examples of how goods, services and resources are allocated. More explanation in the presentation on the descriptions of each type of economy as well. Includes a full description of a Planned economy including historical examples, and specific examples of how production, distribution and consumption of goods, services and resources are allocated. Includes a partial description of a Planned economy including historical examples, and specific examples of how production, distribution and consumption of goods, services and resources are allocated. Includes an incomplete description of a Planned economy. It is missing historical examples, and or specific examples of how production, distribution and consumption of goods, services and resources are allocated. Includes a poor or incorrect description of a Market based economy examples are completely missing. Examples and evaluation of the Chinese economy: Very little explanation of how China demonstrates a planned economy. You began to give examples but did not fully understand them, so it became confusing to the audience. Includes a full examination of the Chinese economy and to what degree it demonstrates a fully Planned economy. There are multiply examples discussed and analyzed in detail. Detailed examples of the effects on everyday citizens are given. Includes a partial examination of the Chinese economy and to what degree it demonstrates a fully Planned economy. There are multiply examples but not all are discussed with enough detail. Brief examples of the effects on everyday citizens are given. Includes an incomplete examination of the Chinese economy and to what degree it demonstrates a fully Planned economy. There are few or no examples with little to no detail. Examples of effects on everyday citizens are confusing, or contain incorrect information. Includes a poor examination of the Chinese economy and to what degree it demonstrates a fully Planned economy. There are no examples given. No examples of the effects on everyday citizens are given. Presentation Rubric

Market vs. Planned economy position. A clear and definite position is taken in defense of either economic system. Specific examples are revisited to reinforce position taken. Position taken is not 100% clear. Position may not appear definitive, and examples partially undermine position. Position contradicts examples and student does not appear committed to their chosen position. Examples are vague. No position is taken and not examples are provided to reinforce position. Presentation Student is prepared and well rehearsed; time is filled completely with relevant information. Student can elaborate on visual aid, and answer questions Student seems prepared but needs more practice for a polished presentation. Student can elaborate on visual aid. The student is somewhat prepared but it is clear that rehearsal is lacking. Student is not able to elaborate on visual aid and simply reads slides. Student does not seem at all prepared to present. Student fumbles over word choice and pronunciation and does not elaborate upon visual aid. Visual Aid Visual aid is polished and cohesive. It is easy to read, has a nice mix of text and visual. Visual aid is heavy on either text or visuals; it has a few mistakes that distract from the presentation. Visual aid is almost solely text or visuals; there are several mistakes that make the presentation difficult to follow. Visual aid detracts from the presentation, there are many mistakes, factual errors, and it has no balance between text and visual.

Sources Use Easybib to put into MLA format. All sources are accurately cited in proper MLA format. Sources are credible and accurate and easily verifiable. It is easy to see where all information was gathered. Some facts are not cited, MLA format is questionable, and some sources are of questionable credibility. It can be difficult to see where information was found. Many facts are not cited, MLA format is not followed, and many sources are of questionable credibility. Finding where information was found is a chore or impossible This was a good first draft of the presentation. Be sure to rehearse before presenting again. Be able to elaborate on your slides and know the material in more detail. If you need help or do not understand a concept please ask me and I will help explain. As you finish your presentation take a strong stand for either for a Market based or a Planned economy, much like a conclusion to an essay refer back to the body and to the evidence you just presented to tie everything together.