Economics: Questions And Answers

Improved Essays
1. What did you have to sacrifice as a result of your income realities? What was the hardest thing to give up, and why? (2 marks)
I have to sacrifice the clothe pretty much, since it is being paid at the spot, not each week like other things, in which only one sweater are bought. In addition, the hardest thing to give up is probably the food, because they are important just as money is. I though that people should not use too much of one's health to make money, since one will end up using the money to "buy" health; Mrs. Smith (and her son) should eat well and be healthy in order to make money, and to take care of the family.

2. What would it have been like to live on this budget? Could you live comfortably? Why or why not? (2 marks)
I think that the family could live comfortably on this budget if it has been carefully planned out. Although, some of house appliances (e.g., refrigerator, broom, etc., and clothing might be missing, in the result of Mrs. Smith only make seven dollars a week, and have to pay for such meals.

3. What would the economic future be for your family? Why? (2 marks)
Little amount of payments is made each week, so some money will be saved, and by the time the son is grown up, there sure
…show more content…
There are much more things to pay for as the country develops, as more technologies, and beauty products, for example, are introduced. For that reason, the salary of a person would increase as the living standard increases. Furthermore, a Canadian family during the Depression- era will have less thing to pay, and the food prices are low (which is good). However, everyone will have a harsh time going through, because jobs are hard to find, and money is hard to

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