Assignments # 3

Q1: What will be produced ?
How it will will be produced ?
From whom will it be produced?
Q2:What is a economic systems? The method used by a society to produce and distribute goods and services.

• -Market - the power of division of labor in which the prices of goods and services are determined in a free partice system set by supply and demand. (
• Command - supply and price are regulated by the government than market forces.
• Traditional- a country such as China trains their kids to be success and warriors
•  Mixed- mixture of capitalism and socialism

Q3- The four economic system ( traditional, mixed, command, and market), these four economic systems involves the economic questions because these three questions are asked daily doing the process of the economy growth and use of economics needs.
Q4:The united states standard economic model of how things work is that people produce and exchange goods. Governments exist to provide  government goods things that people cannot provide for themselves, such as national defense. The standard economic view is that activities are essentially productive.
Q5: The economic systems that is used by the Inuit would be Traditional economy. I choose this because an traditional economy is based of customs and things that have been done for years.
Q6:
Profit Motive- Market ( the government allows the producers earn money by making a profit by creating new goods and services

Traditional (the government is the producers & consumers their motivated by their customs which makes their  profits of their goods and services

Command (the government officials controls their profit motive for their goods and services for their economy)

Mixed ( private and state enterprise)

Profit Ownership- Market( the market economy has large  amounts of bussiness which could be regualted or deregualted

Traditional ( the traditional economy has their business could be ranned based off customs and their money comes from the things that they

Command

Mixed

Format and Instructions for Assignment #2

Standardx EF2 and EF2
Title: Production Possiblilties Curve; Rational Decision Making ; and Specialization

•   It tells you the combintatin of two commodities (goods, products) that can be produced efficiently with a society's available resources.It also respersents the point at which an economy in the best way possible.
• When the PPC shifts  outwards there is growth in the economy_________________
• The best way to determine weather the ecomony is rational economic is
• By using specialalization, a country can produced the thing that it can do rest, rather than diving up its resources.If countries trades are goods that they produce for other goods in which they don't have a compartive advantage both countries will be able to enjoy both products at lower opportunity cost.

How do i feel about the knowledge of this standard ?

I feel that this standard helps me with my understanding of the graphs and how business work usin PPC graghs it's a BIG help on undersatnding how the graph ad the capitial goods work to together in the ggraph to show how the opportunity cost could increase or decrease..

Questions????

 1.

Assignment #1

Standard EF1
Title: Limited Resources and Unlimited Wants & Needs
Scarcity influence my choices I make about spending money because I usually would spend my money on limited resources, and unlimited resources are usually free.

• An example of trade-off I've made would be a choice I've made between attending the movies with b.f, weather then attending the game with friends.I made this decision because I have plenty of time to enjoy with the girls, we're basically around each other 24/7.
• I don't have a deep feeling about the decision I choose because, there would be no lost towards the girls and I on the decision that I made. Only that i missed the game & and that it was a ravel school!!
• Business owners influence each factor that was listed because, their owners of their own business therefor that makes them entrepreneurs. Also when your a business owner your to busy to handle the company on your own to keep it going so your would hire labors/employees to work for you.
• Me personally I see myself as an Entrepreneur . I'm always two step ahead and tend to be a very hard worker. I'm always on top of my game and also makes great decisions.

                                                 Formative Assessment Reflections:
I feel that this standard helps me understand how business works,and helps me have a understanding that the business world is not as hard as it looks "so far".This standard also is something that I do everyday as of trade-offs, and scarcity which is very exciting to me...
-How does the trade-off , and scarcity is mixed with being an entrepreneur?
-(no second ?)