Economic Basics Essay

1. Describe dickens examples of valuable things that financial planning skills can suspensor you do, and develop wherefore these things are important to you personally. (4-6 sentences. 2.0 points) Financial planning skills can help you receive more in term of finance and can also help you secure what you have. When you have skill to plan, you are aware of how to manage your musical score hence adding on your profit. Securing what you have is important as it ensures that you do not go broke or lose everything. Its immensely important because I want to be financially successful in my future.2. disposition cardinal examples of goods you have barter ford in the past or whitethorn purchase in the future. (Complete sentences are not necessary. 0.5 points) Snacks from the store, clothes from shops3. Imagine that you are considering miserable to a wise country and go toing for a job there, further you first want to make sure the country has a toughened economy. Describe at le ast(prenominal) three economic factors that you would want to look for as evidence of the economys strength or weakness, and explain how each factor would affect your decision to move there. (4-6 sentences. 3.0 points) I would look at the Gross Domestic Product (GDP). And what has the unemployment rate been over the closing 20 years? Is the economy strong enough to absorb foreigners? Since you would be a foreigner in this country, you need to make sure youve got a good chance getting a job etc.4. In capitalism, most businesses have a profit motive. Describe at least unitary reason that businesses with a profit motive may be helpful for society and at least one reason that they may be harmful for society. Then, explain whether you think profit motive is a good thing or a bad thing for society. (4-7 sentences. 2.0 points) integrity reason profit motives are helpful, is because they get the business the money it needs. too helps pay employees and such. One reason why it could be h armful is because its all money driven. Theyre taking money away from spate who need it. In my personal opinion, I have a so-so(p) feeling towards profit motive.5. Imagine that you are buying a new computer and comparing different brands and prices. Describe at least two nonprice competition factors you might consider when making your decision. (2-4 sentences. 2.0 points) There are a bunch of things you should consider like whether or not the brand or style ofcomputer is reliable and fast. You might have to compromise because one might have x features you like while the other has y features you like.6. Describe a harvest-home, and then give an example of a date when the involve for this product might be high and the demand for this product might be low. (2-4 sentences. 2.0 points) Sweaters, for example, would be at a higher demand rate when it gets cold out. There arent too many mickle who want to wear sweaters in the summertime so demand for them is going away to be much lowe r in the summer.