Living in a market economy, I have had to deal with the highs and lows of it all. I like having access to a multitude of products, but it's worrisome that we don't have a universal system for basic needs like health care and public education.
With supply and demand, producers are able to predict the trends that consumers will want. This leads to high satisfaction and a happier community. Since there is a lot of individual freedom, people can express themselves how they want to. They're able to direct their money in the places where they feel it is most needed.
On the flip side though, not having services available to everyone is difficult and leads to distress. Having a high competitive system leads to many private companies and a lot more money being needed by each individual. The economy is run by greed and the need for profit which isn't the best quality to instill in younger generations. It seems like the only way to be successful is if you're able to make a lot of money.
With supply and demand, producers are able to predict the trends that consumers will want. This leads to high satisfaction and a happier community. Since there is a lot of individual freedom, people can express themselves how they want to. They're able to direct their money in the places where they feel it is most needed.
On the flip side though, not having services available to everyone is difficult and leads to distress. Having a high competitive system leads to many private companies and a lot more money being needed by each individual. The economy is run by greed and the need for profit which isn't the best quality to instill in younger generations. It seems like the only way to be successful is if you're able to make a lot of money.
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