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Communism/Socialism:
Advantage
- There are no social classes- This means that there are no poor individuals within a society. There is no upper, lower, or middle class. Everyone has about the same amount of income/resources.
Disadvantage:
- Little economic freedom- The government plans the economy. This means they control how many products a business makes and how many goods/resources each family has.
Capitalism
Advantage:
- Individual freedom- In a capitalist society, citizens can buy whatever they want as long as they have the money. This allows citizens to do what they want, when they want, without having the government telling them what to do.
Disadvantage:
- Poverty/Homelessness- This system involves very little government interference with the economy. This means there will be social classes. Ultimately, some individuals will end up poor or homeless for any number of reasons.
The English Bill of Rights was an act signed into law in 1689 by William III and Mary II, who became co-rulers in England after the overthrow of King James II. The bill outlined specific constitutional and civil rights and ultimately gave Parliament power over the monarchy. Many experts regard the English Bill of Rights as the primary law that set the stage for a constitutional monarchy in England. It’s also credited as being an inspiration for the U.S. Bill of Rights.
The troubled asset relief program was able to address the great recession by using the taxpayer money was used to help several large financial firms stay in business.
<h3>What is the TARP program?</h3>
TARP program means a Troubled Asset Relief Program.
This is a program that is intended to purchase toxic assets and equity from financial institutions to strengthen its financial sector.
Therefore, the Option B is correct.
Read more about TARP
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