Economic System

Week 1 essay

Chris Ruiz

DeVry University

Professor Ivan Briceno

BUSN 115

Abstract

In this essay I will be talking about which economic system is best suited for handling a crisis of epic proportion. I will tell you why a socialist system is the best system when responding to the needs of people struck by emergency situation for example the earthquake in Haiti in 2010. And lastly I will explain why the cost of heat and business goes up in the winter time.

Week 1 essay

When there is a natural disaster people might ask which is the best economic system for handling this crisis? Two examples are the National Incident Management System (NIMS) and

The Socialist System.

National Incident Management System

The National Incident Management System (NIMS) is a system designed to guide departments and agencies of government, non-governmental, and the citizen sector to work together and manage all incidents involving all threats and hazards. (https://www.fema.gov/national-incident-management-system) Usually emergency crews are on the scene first to help out such as police, fire department, ambulance, etc.

Socialist System

A Socialist System is when the government takes care of paying the people who work there so everyone can focus on helping the people in need. In my opinion the Socialist System offers the best solution for handling an emergency disaster. This type of system is a nonprofit organization which means everyone is doing what they are supposed to and looking after the injured. Also it teaches you to share things with your neighbor and to help out in the time of need. (http://www.answers.com/Q/What_economic_system_could_handle_a_crisis_of_epic_proportion_best)

Haiti Earthquake

In Jan.2010 there was 7.0 earthquake that killed 230,000-316,000 people. 1.5 million Lost their...