Part I: Explain the difference between the laissez-faire system and socialism. Find an example of a country that is considered a socialist country in a reputable resource outside of your book. What are some of the welfare program offerings that it has which categorize it as such? Hint: You will need to research online the aspects of socialism (minimum of 6 sentences).
Part II: Which economic system do you believe is the best and why (minimum of 5 sentences)?
Part III: Respond to two of your classmate’s posts regarding either Part I or Part II of their discussion (within the same thread – select the reply option when you view the classmate’s post). Specifically, focus on the trade-offs that people face when countries are under more capitalist structures vs. socialist structures (or vice versa) (minimum of 6 sentences for each reply).