Political systems and economics Essay Example | Topics and Well Written Essays - 750 words

governmental systems and economics - Essay ExampleThe confederation is viewed as a mesh of diametric people vying for different interests, that the art of reasoning, ruling and governance among the others, is essential to unify the society to act to a common vote, to watch over a certain interest. It explains how the governing political body and its directives affect the collective behavior of the players in the societyEconomics parameters are set on scarcity, the use up of incentives, the application of efficient economic tools and models, all to satisfy and perform humans current and future wants and needs. Economics lies on maximizing and making sound decisions to make efficient use of existing scarce resources. Nothing in life is free, as explained by the concept of opportunity cost. hazard cost is the value foreg 1 in pursuit of another activity or good of interest. Everything individuals do has a tradeoff. An individuals Economic decisions are motivated by incentives, a mechanism which motivates decisions and activities.Economics is different from political systems in the sense that, economics could go on forever without laying a hand on it to make it work and in its continuity, it is only susceptible to its own natural dynamics. Politics now depends on the intervention and control of men. While economics seeks to explain occurrences through long-wearing principles, politics is just chiefly an experimental, temporary tool in human affairs. One (economics) is amoral, the other (politics) is moral (Economics versus Politics). twain political science and economics acknowledges the participants in the societys selfish interests, that, control of which is delivered by laws and punishment in property of political science, and motivated by incentives and disincentives in lieu of economics. Economics, unlike political science though, is tackled like one of the exact sciences through the use of models, equations and numerical treatment to explain or for ecast the situations governing and a society. (Economics versus Politics)The book chapter is posing the challenges of the economic environment, and such may be seen as problems to solve, to outwit. enquire 2 Feudalism is a socio-political system wherein land and land-based assets determine an individuals social status. Land ownership entitles the owners of the manors-now combining weight to villages-exclusive rights to their lands, spending decisions with their money and other assets and administering homage for their serfs and vassals (Feudalism and Medieval Life). Serfs, peasants, vassals and landlords are the primary movers in the social structure and the king played only a representative role in the society. Serfs are the tenants sustained by the landowners. They are at the foot of the social structure. They serve their landowners who are responsible for their sustenance. Hes necessitous of tangible property and his marriage is subject to the landowners permission (Feudalism and Medieval Life). Vassals are the more privileged than serfs. They have a certain amount of freedom although they live poor lives. They comprise 10-60 families brisk on a community. Landlords or barons ruled the manors, which pertains to the villages during the Middle Ages. The landlords serve as the local administrator of their lands and legion(predicate) serfs and vassals serve and protect him, as he is also accountable to them. Due to the Black Plague, The hundred course of study war and the