Slide3-8 The Market Economy
The great virtue of a free market system is that it does not care what color people are; it does not care what their religion is; it only cares whether they can produce something you want to buy. It is the most effective system we have discovered to enable people who hate one another to deal with one another and help one another.
Milton Friedman (1912-2006), a U.S. economist, Nobel laureate, and influential advocate of free-market capitalism and monetarism
Characteristics of a Market Economy
In a market economy, most goods and services are privately owned. Owners can profit by selling or leasing property, products, or services.
Business owners are free to produce, sell and purchase goods and services in a competitive market.
Self-interest is a primary factor behind a successful market economy. A market economy provides opportunity, gives people a chance to work for themselves, and lets them try to earn a living in a way that they want to.
Supply and Demand of Products and Services is determined by Needs and Wants.
The market economy is a reflection of the collective demands and needs of society, where the invisible hand of supply and demand guides the way toward prosperity and progress.
The market economy is a reflection of the collective demands and needs of society, where the invisible hand of supply and demand guides the way toward prosperity and progress.
Market demand needs are the foundation of economic exchange, representing the essential goods and services that sustain human life and well-being, and they form the bedrock upon which market economies are built.
Needs refer to the basic, essential requirements for human survival and well-being, such as food, water, shelter, clothing, and healthcare.
Needs refer to the basic, essential requirements for human survival and well-being, such as food, water, shelter, clothing, and healthcare.
Demand wants are desires and preferences for goods and services that go beyond basic needs.
Demand wants are typically discretionary expenditures that are not necessary for survival but contribute to a higher quality of life or personal satisfaction. These can include things like entertainment, luxury items, travel, hobbies, and other non-essential purchases.
Demand wants are typically discretionary expenditures that are not necessary for survival but contribute to a higher quality of life or personal satisfaction. These can include things like entertainment, luxury items, travel, hobbies, and other non-essential purchases.
Four Steps To Market Growth
Implementing accessibility functionality to meet Needs should be considered an investment, not a burden, as it improves the interactive experience for all users.
Benefits: Drive innovation, Enhance brand, Extend market reach, Minimize legal risk
Benefits: Drive innovation, Enhance brand, Extend market reach, Minimize legal risk
Accessibility for Ontarians with Disabilities Act, 2005 (AODA) is about identifying, removing and preventing barriers to inclusion for people with disabilities. Collaboration among businesses, organizations, communities and all levels of government is key to creating a more accessible and inclusive society.
Canadian Survey on Disability, 2017 to 2022
Vision, Hearing, Motor, Cognitive, Aging and Temporary
Vision, Hearing, Motor, Cognitive, Aging and Temporary
Key Facts About Disabilities
Myths, stereotypes and stigma about disability are barriers to the realization of the human rights of people with disabilities.
Myths, stereotypes and stigma about disability are barriers to the realization of the human rights of people with disabilities.
Types Of Barriers
Attitude is the most challenging barrier to overcome because it is hard to change.
Attitude is a habit of thought. Who you are is a function of specific choices that you have made. Leadership needs to understand product development and the laws and standards that apply to digital content.
Attitude is a habit of thought. Who you are is a function of specific choices that you have made. Leadership needs to understand product development and the laws and standards that apply to digital content.
Barriers to information (education, Employment, Leisure) can make it difficult for people to receive or convey information.
Technology, or lack of it, or unusable, can prevent people from accessing information.
Architectural or structural barriers may result from design elements of a building such as stairs, doorways, the width of hallways and even room layout.
Systemic barriers can result from an organization's policies, practices and procedures if they restrict people with disabilities, often unintentionally.
Resources