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, and the ownership of private property.
Respond to the following:
Classmates post below
Hi class! As an individual, I benefit (and effected) by the four features of capitalism. It allows me to find the products that I am searching for at a greater ease because there are multiple choices from different competitors. This can lead to better prices in order for competitors to compete for business from the consumers. However, it can also lead to increased prices based on what company has a corner on the market. Capitalism also allows me to become creative and introduce a new produce to society so I can attempt to capitalize on an existing market or simply create something new entirely.
I don’t think that there is a fair market when comparing small business owners to corporations. Small business have a hard time fighting to stay a float within Capitalism. Corporations are able to dictate the market by adjusting the prices certain products which may not allow smaller businesses the opportunity to catch up or even move forward because they can not afford it. This can cause large corporations to gain a monopoly power over the market which could cause the closing of smaller businesses as well as hurt the pay wages given to the workers.
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