1. A society would produce goods that they are able to produce, depending on its resources. In addition, what would be produced would depend on the needs of the members of said society.
2. Due to scarcity and shortages, choices must be made about manufacturing goods. Any method of manufacturing goods that have a low opportunity cost and trade-off are appropriate. Also political restrictions would affect the methods of production.
3. The consumption of the goods and services varies depending on the goods itself. However, if one is unrestricted to purchase the goods, one is not only permitted to consume the goods and use the services but encouraged and welcomed to. In general, the target consumer who has a depend for the goods will be the ones consuming the goods and services.
Tuesday, February 1, 2011
Monday, January 31, 2011
Article(s)
Why I chose these articles:
http://online.wsj.com/article/SB10001424052748704832704576113931636828282.html?mod=ITP_moneyandinvesting_0
http://online.wsj.com/article/SB10001424052748704832704576114032994273502.html?mod=ITP_moneyandinvesting_0
http://online.wsj.com/article/SB10001424052748704680604576111072214310728.html?mod=ITP_moneyandinvesting_0
http://online.wsj.com/article/SB10001424052748704680604576110592471569376.html?mod=ITP_moneyandinvesting_0
I chose them because they were the headlines of today's paper in the Wall Street Journal for the Money and Investing section, the section which appeals the most to me. Also I could only read a bit of each article so I decided to read multiple articles.
http://online.wsj.com/article/SB10001424052748704832704576113931636828282.html?mod=ITP_moneyandinvesting_0
http://online.wsj.com/article/SB10001424052748704832704576114032994273502.html?mod=ITP_moneyandinvesting_0
http://online.wsj.com/article/SB10001424052748704680604576111072214310728.html?mod=ITP_moneyandinvesting_0
http://online.wsj.com/article/SB10001424052748704680604576110592471569376.html?mod=ITP_moneyandinvesting_0
I chose them because they were the headlines of today's paper in the Wall Street Journal for the Money and Investing section, the section which appeals the most to me. Also I could only read a bit of each article so I decided to read multiple articles.
10 Economical Terms
GIC (Guaranteed Investment Certificate) - An investment with a small, but guaranteed rate of return. 2%-4%
Mutual Funds - An investment with a medium rate of return, usually safe. 5-10%
Stock - An investment with the highest rate of return, however the most dangerous. 8-X % (Represents Ownership of a company)
Investment (Financial) - Input of money for a larger return of money in the future.
Bonds - An investment in the form of a loan, usually to a country.
Microeconomics- The study of behavior of indivuals on their financial decisions.
Macroeconomics- The study of behavior of a group on their financial decisions.
Economics- The study of production and consumption of goods and services.
Inflation- The increased value of goods in the economy over a period of time.
Revenue- The income of a business.
Mutual Funds - An investment with a medium rate of return, usually safe. 5-10%
Stock - An investment with the highest rate of return, however the most dangerous. 8-X % (Represents Ownership of a company)
Investment (Financial) - Input of money for a larger return of money in the future.
Bonds - An investment in the form of a loan, usually to a country.
Microeconomics- The study of behavior of indivuals on their financial decisions.
Macroeconomics- The study of behavior of a group on their financial decisions.
Economics- The study of production and consumption of goods and services.
Inflation- The increased value of goods in the economy over a period of time.
Revenue- The income of a business.
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