US Economic System

• Discuss the different economic systems and how they compare to the US economic system.

There are four primary systems of an economy: Capitalism, Communism, Socialism, and a Mixed Economy.

Capitalism is a freer form of economics that allows businesspeople to privately own their businesses with little restrictions on what can be produced by their organizations. Profit is the number one objective and employee wages are flexible up to a certain point; there is a minimum amount established by each state based on the average cost of living. Capitalist companies are free from government interruption, aside from taxes. State Capitalism, on the other hand, is a mixed practice where the government has certain control over the firm. The United States

When a store is low in supply, they will resupply by having the leftover products (non-perishable) shipped from other branches and warehouses, either to the location they are running low on or to the customer who purchased the items online.

Wal-Mart Stores, Inc. has been building their sites to the specs of 1 million square feet in size (2017), with a holding capacity of roughly 500,000 items. This quantity is more than ten times the average shopping center at 30-50 thousand items. This plethora of available items is what draws new customers every day. Because their customers demand goods at a specific price range, they need to keep on top of suppliers, competitors, and consumer behavior.

The reason they are so good at staying on top of consumer behavior is because of the program that S. Walton and D. Glass put into development in 1985 called Retail Link (Hornblower, 2004 para. 2). This program cost $4 billion, and several years of development, this program allows for more accurate demand forecasting to reduce product waste and profit losses. This means that Walmart has a more stable environment to address supply and demand in an orderly fashion, either in stores or

Using only words of boasting from the Walmart website, I can only assume that they have a vast quantity of suppliers at the ready to restock shelves and online goods because they are never sold out for long; unless the product is replaced with a better version.

The average price is the “everyday low price” that Walmart offers its customers, while low represents Walmart’s rollback program that will reduce the price to match the competitor’s. Not meant to scale.

• Explain how your business would operate differently if it was part of a different economic system.

Thanks to the restrictions of a socialist-capitalism, Walmart cannot run every company out of business. The corporation succeeded in many other countries aside from America because of its stable supply chain and desirable prices. The countries it failed in either already had a cheaper all-purpose super center, it’s supply was weakened by small business suppliers, consumers did not want or need all the additional products, or there were just cultural barriers between customers and the employee codes of