TEAM PROJECT #1_ THE ISMS! Due: February 12,2002, midnight.($15 maximum depending on quality) Each Team is to report their findings on their assigned economic SYSTEM, including the team assigned to research the ECONOMIC SIZE of various nations. For the ISMS, focus on who controls the MAJOR RESOURCES in each country, Public or Private Sector? How control and leadership of the economy is established, etc. For the SIZE assignment, focus on the GDP dollar amount of various nations from the wealthiest to the poorest. HAVE FUN AND LEARN!

-- Anonymous, February 07, 2002

Answers

The Macroeconomics “Keynesians” - Judee, Tiffany, Corey, Michelle and Lisa

Socialism is an organization that advocates ownership and control of industry, capital, land, factories, and other property used to produce goods and services by the community as a whole.

1.) Socialists believe that the government is for the best interest of society and want to see that property benefits many instead of only a few. They are of the public sector. 2.) Socialism is based on the idea of achieving social justice through the means of public ownership of productive property. 3.) Socialism arose in the 18th century as a reaction associated with the industrial revolution.

-- Anonymous, February 12, 2002

Rational Expectation Capitalism is an econonmic system in which private individuals and business firms carry on the production and exchange of goods and services, through a complete network of prices and markets. Also known for free enterprise, capitalism lets busineses run themselves with little or no government control. The person who laid out the structure of capitalism is Adam Smith, who started the basis in his book "An Inquiry into the Nature and Causes of Wealth". He said that businesses didn't need to be run by governments because they run themselves by competetion between each other. This theory is known as the "invisible hand".

-- Anonymous, February 12, 2002

The Monetarists: Joe, Ryan, Michelle, Brent, Jake. In a fascist system, the government is authoritarian. One person, or elite group, to control the whole system, a dictatorship. The government has complete control over nearly everything. Fascism usually centers around a certain state or race, decreeing that as the basis for all history and life. The government controls who makes money, and how it's made.

-- Anonymous, February 12, 2002

1st. World 2nd. World 3rd. World 4th. World 5th. World Australia Honk Kong Venezuela Poland Haiti

-- Anonymous, February 12, 2002

Wealthiest to Poorest. 1st. World 2nd. World 3rd. World 4th. World 5th. World Australia Honk Kong Venezuela Poland Haiti GDP 4.0% -5.1% -1.2% 4.8% 2.5% **$393,900.0 $168,100.0 $194,500.0 $263,000.0 $8,900.0

Ireland Malaysia Cuba Bulgaria Guinea GDP 8% 5.4% 6.2% 2.5% -4.9% **$67,100.0 $215,400.0 $17,300.0 $33,600.0 $8,800.0

Belgium Saudi Arabia Iraq Russia Afghanistan GDP 4.1% 4% 15% 6.3% NA% **$236,000.0 $186,000.0 $52,300.0 $593,400.0 $20,000.0

The GDP % is the Real Growth Rate ** GDP Purchasing Power Parity - Millions of Dollars This is just to give you an idea how other nations comper to the United States GDP 2% GDP Purchasing Power Parity $8,511,000.0

-- Anonymous, February 12, 2002