This week we are covering textbook topics found in Chapter 4, “The Nature of Capitalism,” (beginning on page 117) and Chapter 5, “Corporations,” (beginning on page 156). These chapters identify four key features of capitalism:
the existence of companies
the goal of making a profit
- a competitive market
- the ownership of private property
- Respond to the following:
- How do these four features of capitalism relate to you as an individual? Explain your thoughts.
Be sure to respond to at least one of your classmates’ posts.
To receive full credit, remember to write 2 posts in the discussion: one original and one response to another student. Your original should be at least 7 sentences, and your reply should be at least 4 sentences.
- Student Post (Lisa) below:
- Hello everyone! I personally benefit from (and am affected by) her four hallmarks of capitalism. This makes it easier for you to find the product you’re looking for as you have multiple choices from different competitors. This will improve prices and allow competitors to compete with consumers for business. However, the price can also be higher depending on the company that has established its market position. Capitalism also allows us to be creative and introduce new products to society, so we can take advantage of existing markets or create something completely new. I don’t think there is a fair market when comparing small business owners to businesses. SMEs find it difficult to survive in capitalism. Companies can influence the market by adjusting the prices of certain products, but small businesses may not be given a chance to catch up or even move forward because they can’t afford it. This could lead to large companies gaining monopoly power in the market, leading to the closure of small businesses and affecting workers’ wages.
BUS 309 Strayer University Wk 4 The Nature of Capitalism Discussion