For this discussion, first watch the embedded YouTube video of Mises vs Marx and answer the question posed at the end of the video. Mises and Marx argue their cases for Capitalism and Socialism. They debate the economic pros (benefits) and cons (costs) of either side of the debate. Now, think about the society/ nation where you grew up and/or where you live now, and start to critically analyze how economic activity is actually taking place all around you. Economic discussion prompts: Discuss how economic systems other than the market system (i.e., mixed systems, socialism, communism) approach the main characteristics of the market system. That is, how does an economic system with more government involvement than in the market system explained in the chapter approach at least one characteristic of the market system, such as private property, freedom of enterprise or choice, competition, etc. Discuss how answers to the fundamental economic questions differ depending on the economic system. That is, how is one of the fundamental economic questions answered in a nation with more government involvement than in a market system? Or in a nation that is operating under or close to a command system? Discuss the impact the economic system in a society or nation has on the economic activity that takes place there. That is, what are the economic implications on individuals or the society as a whole due to the economic system within their nation? What are the economic implications on the markets due to the economic system of the nation in which they operate? At this point, I do not expect an advanced economic analysis of the experiences or knowledge you share. We will be looking much more into how market systems work and government’s involvement in the market economy throughout the semester. However, you should be connecting your experiences and knowledge with the economic concepts of the chapter.