Sci/275 Week 1 Research Paper

747 Words3 Pages
Week 1 Assignment Morgan Wagner DeVry University Week 1 Assignment Which economic system is best suited for handling a crisis of epic proportions (hurricane, flood, blizzard forest fire, etc.)? Why? Describe and explain why a socialist system might be the best in responding to the needs of the people struck by an emergency situation like the earthquake that occurred in Haiti in January 2010. Use the laws of supply and demand to explain why the cost top heat our homes and businesses goes up in the winter time. Crisis of Epic Proportions I feel that a socialism economic system would be the best choice. In a socialistic government the citizens would not have to wait for aid. Nor would the big and ugly corporations that charge an arm and a leg to help take them advantage of. These private companies would come out to help with the intention of making a profit. With a…show more content…
In order for your furnace to heat your home it demands natural gas, electricity, or even propane. These demands are then supplied by the supplier in your area weather it be ComEd, Nicor, or PeoplesGas. They set the price based on the current market rate and value. Then based on what temperature you have that thermostat set at depends on how much gas is used and how high your bill will be. For example Nicor must decide how much gas they will be able to supply for the season and estimate the demand for it. If they demand is higher than the supply available they will increase the price making your gas bill much higher than normal. On the other hand if they have more available than the demand then they can keep the rate the same or even lower it. But because you are using more gas than you do during the summer to heat your home you will still end up paying more because your furnace will still be turning on every half hour or so and will be using the supply of gas available to you. (Bovee,

More about Sci/275 Week 1 Research Paper

Open Document