Discussion board chap 3$4 Econ 2301

TOTA Chapter 3 discussed Economic Institutions, Socialism and Capitalism with 0 emphasis on the differences between these two systems. Assumptions play an important role in the way we view or approach issues. The workings of the market (Supply and Demand) has an explicit assumption. What is this assumption? As you reflect on your reading of chapters 3 & 4, what explicit or implicit assumptions do you hold that are different from those held by economists? How has your reading, class presentation, discussion or interaction with your peers affected your implicit or explicit assumption