ipl-logo

What Are Trade-Offs That People Face

766 Words4 Pages

1. What are some of the financial decisions that people face? What are trade-offs? What are some of the trade-offs that you may face? People face many financial decisions they could face financial decisions regarding education, what kind of car they have, what kind of house they buy, or even which brand of food that they buy. Trade-offs occur when constraints such as budget or time force us to give up one thing in order to get something else. I may face trade-offs when it comes to college education, if they want to go to a school far away and spend more or it they want to go to a school close to home and spend less. I may also face trade-offs when it comes to sports and theatre. If I’m able to do both or if I may have to give one up to do something else. …show more content…

Why do governments intercede in the market? Governments intercede with the market because they want education and many other thing accessible to every person. Better education systems will help students as they become adults because they will make more informed decision about their career, politics, and cars or houses. These all help our government improve, because they are voting and paying taxes to support the government. 8. What explains the difference between richer and poorer countries? How does a government promote this? Countries that are still in the process of developing are generally poorer and their workers make much less than minimum wage. Countries that are developed like the US are richer and they have programs to help the less fortunate to lessen the amount of people in poverty. Income in developed countries determines the standard of living. 9. Why do prices rise when the government prints too much money? The price will raise when a government prints too much money, because the money loses some its value. To make up this loss of money the government or even businesses will raise prices. This is called inflation in the economic world. 10. How does the economy affect your personal

Show More
Related

  • Analysis Of Should Everyone Go To College By Stephanie Owen And Sawhill

    295 Words  | 2 Pages

    Tuition also plays a role in decision making because some people don’t have enough money to pay for college out of pocket so, they need financial help. They look at what financial aid they can receive and any scholarships that are available. They include statistics to back up data, this helps the reader understand fully how

    Read More

  • My First Generation Immigrant As A Refugee

    98 Words  | 1 Pages

    I am a first generation immigrant; I arrive into the United States as a refugee. As every human being set a goal, I have also set myself a goal of education. While I was perusing my educational goal, situation came where I have to choose between education and work. I have chosen education with no doubt, but the decision brings me and my family a financial burden. Although, I do not have any regret of my decision, sometime it is hard to disregard the financial need to support the family, and unable to afford the most necessity things.

    Read More

  • Charles Murray Are Too Many People Going To College Summary

    1721 Words  | 7 Pages

    Additionally, Murray claims that money isn't the only important aspect to consider when deciding to go to college, but that "the topic is no longer money but job satisfaction" (Murray 248). Murray discusses how money

    Read More

  • The Role Of Economic Inequality In Canada

    171 Words  | 1 Pages

    Poverty and wealth is difficult to measure in terms of geographic dimension. The pictures below demonstrate

    Read More

  • Great Depression Dbq

    565 Words  | 3 Pages

    Prices also went up because people that were selling products wanted to make more money. Prices were going up people couldn’t afford to buy food most of the time. “ There is no cause to worry. The high tide of prosperity will continue”, said Andrew W. Mellon,. Trading throughout the countries became a loss because of their lack of wealth.

    Read More

  • Stephen King Why We Crave Horror Movies Essay

    618 Words  | 3 Pages

    The first decision in life that makes us challenge ourselves is going to college. This is a hard process to deal with in life because it involves a lot of money. It causes a lot of frustration because you not only deal with school but also with family problems. For example, I had to decide between going to college or work at one of the fancy Hair Salons. To work at Kenneth's or Charles Penzone Hair Salon you need to work full time and that was going to be my only career.

    Read More

  • Effects Of Income Inequality In The United States

    1863 Words  | 8 Pages

    1. Introduction Income inequality has grown significantly during this past decades and this phenomenon continues to increase over the years. This problem is constantly discussed in the daily news all around the world. Several consequences of this increase of inequality between people leads to economic problems such as high unemployment rates, lack of work for young people, fall of demand for certain product. The gap between rich and poor is increasing, the rich are richer and the poor are poorer as a result politicians and economists try to adopt certain policies in order to reduce this gap.

    Read More

  • Thomas Hobbes: The Four Purpose Of Government

    409 Words  | 2 Pages

    Thomas Hobbes described that life in a state of nature would be “solitary, poor, nasty, brutish, and short.” In addition, no one would be able to survive in an Anarchy society where there is no order and the safeguard of others is at risk. Therefore, governments require for citizens to surrender some freedom to obtain the benefits of the government. Thus, the government has preserved its two major purposes: maintaining order and providing public goods to the public and an uprising purpose of promoting equality. The main and oldest purpose of government is to maintain order by establishing laws to preserve life and protect property.

    Read More

  • Socialism Vs Capitalism Essay

    732 Words  | 3 Pages

    Definition of Capitalism What is capitalism? According to Adam Smith, both parties in a capitalist system, the buyer and the seller, act in a voluntary transaction to achieve the outcome that serves their self-interest. However, both parties cannot obtain what they want without delivering the needs of the other. In definition, capitalism is an economic system where properties can be controlled and owned by private sectors to suit their interest, which is to gain profits, while the demand and supply of goods and services set the market prices to serve the interest of the society.

    Read More

  • Government Regulation In The US

    911 Words  | 4 Pages

    Although the United States is known as a capitalist regime, the truth is that the federal government takes a firm hand in regulating and guiding it. Everything from our economic system to the environment, to social and educational programs, bears the imprint of governmental influence. This is not to say we are a society under government control, but regulation is necessary to keep a nation from plunging into utter chaos. Since the Great Depression of the 1930s, the government has intervened quite heavily in certain sectors of the economy to ensure that all citizens have access to equitable gains.

    Read More

  • Positive Externalities In Education

    1200 Words  | 5 Pages

    Externalities can be defined as whenever the benefit or cost of consuming a good affects people that are not actually consuming it. They come in two forms: positive and negative externalities. Positive externality can be defined as this occurs when the consumption or production of a good causes a benefit to a third party an example can be education when people go in college because they want to get an education, probably so they can get good jobs, live happy lives, etc. But them getting an education does not just benefit them, it benefits society as well. Some may go on to invent handy products, or come up with important ideas, which everyone else will gain from.

    Read More

  • The Four Causes Of Inflation In Trinidad And Tobago

    1729 Words  | 7 Pages

    Inflation is the rate at which the general level of prices for goods and services is rising, and, then purchasing power falling over a period of time. When price level rises, dollar buys fewer goods and services. Therefore, inflation results in loss of value of money.

    Read More

  • Advantages And Disadvantages Of Government Intervention

    1195 Words  | 5 Pages

    Regulations that the government implement, licensing for example, increases the barrier of entry into the market and decreases ways for the traders to gratify consumer demand. This case is prevalent in the monopoly market. The market is sometimes best to decide how much and what to produce since it has better information and knowledge of the consumers compared to the government. Economic decisions may also not be competent when the government is motivated by political power rather than economic imperatives. Sometimes, economic policies are designed to retain power rather than to ensure maximum efficiency in the economy.

    Read More

  • Role Of Government Essay

    1025 Words  | 5 Pages

    • Regulating the economy. • Establishing educational systems. Role of government

    Read More

  • Literature Review Of Inflation

    1055 Words  | 5 Pages

    CHAPTER 2 LITERATURE REVIEW INFLATION (InvestorWords, 2015) stated that inflation is the increase in the general price level of goods and services in economy, normally caused by excess supply of money. Inflation usually measured by the Consumer Price Index (CPI). When the cost of producing goods and services goes up, the purchasing power of dollar will decrease. A customer will not be able to purchase the same goods and services as he/she previously could.

    Read More

More about What Are Trade-Offs That People Face

Open Document