A market system is characterized by the private ownership of resources and the use of markets and prices to coordinate and direct economic activity. The system allows for the private ownership of capital, communicates through prices, and coordinates economic activity through markets, places where buyers and sellers come together to buy and sell goods, services and resources. Directly resulting in competition and a widely dispersed economic power. The command economy the government owns most property resources and economic decision making occurs through a central economic plan. The planning board, appointed by the government determines production goals for each enterprise. The division of output between capital and consumer goods is centrally decided based on the board’s long-term priorities

Budget in this final week, you will develop a proposed budget of $150,000 for the first year of the program and complete the final concept paper for the proposed program due for senior management review. the budget should identify the program's anticipated expenses for the year ahead. budget line items should be consistent with the proposed program and staffing plan. using the readings for the week, the south university online library, and the internet, complete the following tasks: create a proposed budget of $150,000 for the first year of the proposed program including the cost for personnel, supplies, education materials, marketing costs, and so on in a microsoft excel spreadsheet. you may transfer your budget to your report. justify the cost for each item of the proposed budget in a budget narrative.