BUSN 115 Week 1 Homework Economic System

Prepare a two- to three-page paper in APA style, sixth edition format, that describes, explains, addresses, and answers the following questions or statements.

Which economic system is best suited for handling a crisis of epic proportions (hurricane, flood, blizzard, forest fire, etc.)? Why? (9 points)

Describe and explain why a socialist system might be the best in responding to the needs of people struck by an emergency situation like the earthquake that occurred in Haiti in January 2010. (9 points)

Use the laws of supply and demand to explain why the cost to heat our homes and businesses goes up in the winter time. Be sure to explain your answer fully. (9 points)

Include APA style in-text citations, as well as a reference section. (3 points)