Economic Basics Essay

772 Words Mar 19th, 2015 4 Pages
1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points) It can five me a better future. Its helps stability and you wont have to worrie about where your rent money is going to come from because your financial stable from what you built. It also give you freedom and sense of security.
2. List two examples of goods you have purchased in the past or may purchase in the future. (Complete sentences are not necessary. 0.5 points) Two good things I bought were a phone and a car.
3. List two examples of services you have purchased in the past or may purchase in the future. (Complete sentences are not necessary. 0.5
…show more content…
7. In capitalism, most businesses have a profit motive. Describe at least one 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)Capitalism allows people to choose what tthey want to do. It gives people the right to spend their money where they want harmful. the government control is very limited it allows people to dominate the industry. The richer gets richer n por gets poor. 8. Choose a well-known company that you know of, and describe its direct and indirect competitors. Describe at least three direct competitors and three indirect competitors. (6-12 sentences. 3.0 points) mcdonalds competitors are burger king . mcdonalds has sells food but with cheap prices. Mcdonalds changes its prices and try to be a fast food cheap place better than burger king. 9. 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) the brand name and how good their Microsoft is. The prices and the quality that come on the computer. 10. Describe a real or made up but realistic example of a product that went through a time of scarcity, when demand was greater than the supply. What is the product, and why do you think it became

Related Documents