Free Market Economic System

The cartoon depicts a market economic system. It highlights the key factors which can influence the entire economic system of a country. The “chop” represents the resources required for the different enterprises (represented by the people seated at the table) to compete. The cartoon also shows that there are limited resources and that each enterprise has to work fast, and smart to succeed. It also highlights the fact that even though all the enterprises are given an equal chance, some are at a disadvantage as they are not all the same size, do not have the same amount of money, skills or means to succeed. This is also true for a market economic sytsem.
A market economic has very distinct characteristics to other economic systems; however the four which are directly linked to the delivery of services are: Freedom of choice, competition between different privately owned enterprises, resources or the lack thereof and the distribution of power.
Much about how the market economic system works can be drawn from the cartoon; however, looking at how the economy itself functions is not enough when the people it affects the most are not put into consideration. This brings forth the need to answer the question of whether a market economic system is the best economic system for social services …show more content…
The big companies’ interests are not in what will benefit the people more or in what the people need (health care, education, basic nutrition, housing and other provisions which could possibly improve the lives of children, the disabled, the elderly and those who are unable to work for various reasons); rather in what will help the make the largest