Market Economy: Social Service Delivery
One would never think steak could be used as an analogy for a customer and how 4 people would be fighting for the steak as the suppliers.
In the cartoon we are shown 4 people who appear to be in competition for who is going to get the 1 piece of steak between the 4 of them. This can also be identified as a market economy which is by far the perfect analogy because in a market economy the suppliers produce products or services that customers are willing to buy. So the suppliers are in competition to attract the customers to buy their products. The cartoon also states that “competition is good” which is true for a market economy and one the characteristics used to distinguish the market economy.
A market economy is an economy in which a structure …show more content…
The suppliers will focus on the getting a large profit and not really what the people need [social services] so public health or education etc. will get little attention which will disadvantage the needy. In a market economy there are often economic inequalities as richer places will get services the quickest because of the money they bring in and the poorer or rather those who need social services despite not being able to pay for other products or services. There is increased corruption in a market economy which might force the social services to get slower to the people and with this comes less social benefits and welfare in terms of getting social services because these services often come from taxation and the richer are getting more benefits of which include paying less taxes[ if corruption occurs] less money for social services will be available which will disadvantage the delivery of social services. However there are advantages which include the economy being great in terms of social service delivery because most social services are a necessity and with competition there are many businesses that are willing to deliver the service which is quite efficient for the people. Most services are often delivered because most businesses want to fill the niche and produce for the people which makes the delivery of social services more convenient for the
In the cartoon we are shown 4 people who appear to be in competition for who is going to get the 1 piece of steak between the 4 of them. This can also be identified as a market economy which is by far the perfect analogy because in a market economy the suppliers produce products or services that customers are willing to buy. So the suppliers are in competition to attract the customers to buy their products. The cartoon also states that “competition is good” which is true for a market economy and one the characteristics used to distinguish the market economy.
A market economy is an economy in which a structure …show more content…
The suppliers will focus on the getting a large profit and not really what the people need [social services] so public health or education etc. will get little attention which will disadvantage the needy. In a market economy there are often economic inequalities as richer places will get services the quickest because of the money they bring in and the poorer or rather those who need social services despite not being able to pay for other products or services. There is increased corruption in a market economy which might force the social services to get slower to the people and with this comes less social benefits and welfare in terms of getting social services because these services often come from taxation and the richer are getting more benefits of which include paying less taxes[ if corruption occurs] less money for social services will be available which will disadvantage the delivery of social services. However there are advantages which include the economy being great in terms of social service delivery because most social services are a necessity and with competition there are many businesses that are willing to deliver the service which is quite efficient for the people. Most services are often delivered because most businesses want to fill the niche and produce for the people which makes the delivery of social services more convenient for the