What types of items should be produced by the private sector (capitalism), and what type should be produced by the government (socialism)?

Order Description

Our government provides many goods and services, e.g. police, national defense, and roads, but most goods and services are provided by the private sector, e.g. cars, food, etc. In recent years most stadiums (e.g. Century Link Field, Safeco Field, and the Seattle Coliseum) have been provided by city and/or county government.
Develop criteria for when the government rather than private sector should produce certain items. What types of items should be produced by the private sector (capitalism), and what type should be produced by the government (socialism)? For items meeting your criteria, explain why their production shouldn\’t be left to the private sector. Think of how capitalism decides what and what not to produce. How do your criteria relate to golf courses and indoor ski hills? Should the government or the private sector provide them? Address who pays the cost of the item if it\’s produced by the government and if it\’s produced by the private sector. Who should pay the cost? Address economic efficiency; is the right amount produced, i.e., with capitalism are we at the optimal point on the PPC or would too many or too few golf courses and indoor ski hills be produced.
Use one new word that you were previously unfamiliar with ( not related to economics, e.g. not scarcity or absolute advantage) and underline or highlight it. Grammar, spelling, and clarity of writing count for half your grade! Use macroeconomic textbook
Currently 1 writers are viewing this order