Naked Economic. An insightful book, that will bring you into the depths of Economy. The author, Charles Wheelan, begins his book 1989. And Douglas Ivester, the CEO of Coca-Cola industries, is making a haste decision about advertising for his company. Wheelan explains that is no use because after all, it was “ a money-losing proposition and the East German Currency was worthless.” (Wheelan 4) Then by 1995, the Coca-Cola company began to accelerate and become a “strong market.” (Wheelan 4) As the chapter continues, Wheelan tells us that the Coca-Cola business began to radiate more confidence and become more bold. That they wanted to expand their profits and think about their future in communism. Soon after, the marketplace boomed. It suddenly
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American lives were improving day by day. As Wheelan continues his book, he asks us an very important question, “Why did the chicken cross the road?” Wheelan explains, that this idea is like our lives. That it’s filled with complications and uncertainty. Wheelan wants us to understand that “the chicken crossing the road,” is like people making decisions. Deciding to do one thing, rather than another. Even though, one thing may seem more beneficial. Wheelan wants us to realize that “life is about tradeoffs, and so is economics… [that] getting out of bed in the morning and making breakfast involves more complex decisions than the average game of chess.” (Wheelan 10 ) According to Opportunity Cost, “[An decision] is what you must forgo in order to get something. The benefit or value that was given up can refer to decisions in your personal life, in a company, in the economy, in the environment, or on a governmental level.” The things we do in life, can either be beneficial or can cost …show more content…
We come upon statement and we begin to illustrate the principles behind them. Charles writes, “The market economy is a powerful force for making our lives better.” (Wheelan 20) Wheelan explains that businesses produce products, that us, the consumers, want to buy. Today, people get inspired to invent and invest in products that will improve and purify our lives for the better. Charles also speaks about business competition. That it is “fabulously good for consumers.” (Wheelan 20) That products will become more efficient, bigger, and more life changing than ever. Another statement Charles writes is, “Our system uses prices to allocate scarce resources.” (Wheelan 22) Today, we have an abundance of things. Things people are willing to do pretty much do anything for. The only question is “who gets what?” (Wheelan 22) To answer this question, Charles writes about different economies. Specifically, he writes about the communist economy. That if “a butcher received a new shipment of pork, he slapped on the official state price for pork. And if the prices were low enough that he had more customers than pork chop, he [would] not raise the price for extra cash. He [would] merely [sell] the chops to the first people in line.” (Wheelan 22) Today, in our economy we use prices to “allocate resources.” (Wheelan 22) For example, there are people who are willing to pay a lot of money to go see a famous singer in concert. To
American lives were improving day by day. As Wheelan continues his book, he asks us an very important question, “Why did the chicken cross the road?” Wheelan explains, that this idea is like our lives. That it’s filled with complications and uncertainty. Wheelan wants us to understand that “the chicken crossing the road,” is like people making decisions. Deciding to do one thing, rather than another. Even though, one thing may seem more beneficial. Wheelan wants us to realize that “life is about tradeoffs, and so is economics… [that] getting out of bed in the morning and making breakfast involves more complex decisions than the average game of chess.” (Wheelan 10 ) According to Opportunity Cost, “[An decision] is what you must forgo in order to get something. The benefit or value that was given up can refer to decisions in your personal life, in a company, in the economy, in the environment, or on a governmental level.” The things we do in life, can either be beneficial or can cost …show more content…
We come upon statement and we begin to illustrate the principles behind them. Charles writes, “The market economy is a powerful force for making our lives better.” (Wheelan 20) Wheelan explains that businesses produce products, that us, the consumers, want to buy. Today, people get inspired to invent and invest in products that will improve and purify our lives for the better. Charles also speaks about business competition. That it is “fabulously good for consumers.” (Wheelan 20) That products will become more efficient, bigger, and more life changing than ever. Another statement Charles writes is, “Our system uses prices to allocate scarce resources.” (Wheelan 22) Today, we have an abundance of things. Things people are willing to do pretty much do anything for. The only question is “who gets what?” (Wheelan 22) To answer this question, Charles writes about different economies. Specifically, he writes about the communist economy. That if “a butcher received a new shipment of pork, he slapped on the official state price for pork. And if the prices were low enough that he had more customers than pork chop, he [would] not raise the price for extra cash. He [would] merely [sell] the chops to the first people in line.” (Wheelan 22) Today, in our economy we use prices to “allocate resources.” (Wheelan 22) For example, there are people who are willing to pay a lot of money to go see a famous singer in concert. To