Economic Goals, Role of Government; Economic Growth and Stability Assignment#4

1. Economic freedom is basically allowing people to have their own freedom within the economy, Economic equity is basically treating everyone equal no matter what, Economic stability is the absence of constant flucuations, Economis growth is when a country gets rich over a period of time, and Economic security is basically protection.

2. The government has increased dramatically because of the high rate of unemployment and things in that nature.

3. I agree with the visual because people only want the flashy things in life and will do anything to get it, if deregulation happens then the economic security will get weaker because of the things that will be going on.

4. The government supplies good and services in the market economy for the consumers and the producers. Consumers being the buyers and Producers being the creators and sellers of a product.

5. The 6 functions are maintaining competition, providing public goods, stabilizing the economy, maintaining social frame work, correcting for externalties, and redistributing income.

6. If a company wants to be successful all it has to do is increase productivity, it must produce more product for the people that are intrested in buying the product.

7. To become better in production by using some of the money they made to buy more updated technology to make their products better, and they can increase the education of the workers that are in their company.

8. A lot of workers are producing a low output which is making the umemployment rate lower and lower, the production growth is almost equal, with that being said it is not enough workers to get the job done.

How different economic systems answer the three basic econmic questions Assignment#3

1. The threebasic economics questions are what to produce, how to produce it, and for whom to produce it for?

2. An economic system is the distribution and consumption of goods and services of an economy. The four types of economic systems are the Market Economy, Command Economy, Traditonal Economy, and a Mixed Economy.

3. The Market Economy is controlled by the consumers and producers, the Command econmy is controlled by the goverment, the Traditonal economy is based on what they want, and the Mixed economy is a mixture capitilism and socialism.

4. The United States government regulates their own enterprise in a lot of ways . Traditionally , the government wanted to get rid of monopolies such as Microsoft for putting other softwares out of business.

5. The economic system that fits this category is the traditional economy because the child was doing what he was raised to do and he got rewarded for doing it right.
6. All of the features are apart of the market economy, the only one that is not is the government regulation because it deals with the command economy and the traditional economy deals with themselves.

Production Possibilities Curve; Rational Decision Making; and Specialization Assignment#2

1. A Production Possibility Curve would tell you what products could be produced. Creating new and advanced technology would cause the PPC to shift to the left, human capital would make the PPC to shift to the right.
2. I think the best way to determine if we are making a good rational decision is by determining if the marginal benefit exceeds the marginal cost. 
3. When a company makes up their mind to specialize, they can rise in production. Reason being is because companies choose to specialize based on what they have. Companies trade based on what they specialize in. If companies did not specialize they would not be able to produce a lot of that product.
4. 

5.  I feel ok about this standard. I don't have two questions but I have one question. What would probably cause a curve to shift outwards twice?

Standards Based Economics Blog Assignment #1 Limited Resources and Unlimited Wants and Needs

Scarcity influences the choices you make about your money because you can not buy everything you want if you do not have the money to buy all that. I once had to trade off some shoes, I either could have got a pair of expensive shoes or two pair of cheap shoes. The opportunity cost was that me getting the expensive shoes over the two cheaper shoes was that the expensive shoes probably would have lasted longer while the cheaper ones probably would not have. I chose the more expensive shoes because they are more worth my money and I will get more use of them. I was happy with my choice of shoes because the more expensive shoes is what I really wanted.

A risk that business owners may take about land is that it might be to small to run the business, and a reward that owners might take about land is that the land might be popular and have good history. A risk that business owners might take on laborers is that the workers might be lazy and do not get their job done, and the reward might be that the laborers might make the business good money and bring in a lot of coustomers. A risk that business owners may take upon capital is that they might not be making enough money to run the business, and a reward might be that people really like the retail they are buying and they will come back for more. A risk that business owner may take on is that he/she may hire family members that may get lazy and start to slack on their job. A reward that a business owner may take is that he/she may be running the business well and may get known by a major company.

I would want to be the entreprenuer because I feel that I can take upon the job and make everyone comfortable with their work hours and the money they are recieving, and everyone will be happy with their job.

I feel like I did well on the Formative Assessment because I was focused on the lesson and was really paying attention to the material, I feel like I mastered the standard.