Economics and Financial Planning Skills Essay Sample
1. Describe two illustrations of of import things that fiscal be aftering accomplishments can assist you make. and explicate why these things are of import to you personally. ( 4-6 sentences. 2. 0 points ) I have many things that fiscal be aftering accomplishments can assist me but I have to two that I want to speak about on this inquiry. One thing that fiscal be aftering accomplishments can assist me with is to acquire my money together for college. Having fiscal be aftering accomplishments can assist me so I don’t stop up holding to do loans. One other thing that fiscal be aftering accomplishments can assist me make is acquire adequate money to fulfill my demands and wants. That mean I won’t have to worry about necessitating something because I’ll be able to acquire with the money I made.
2. List two illustrations of goods you have purchased in the past or may buy in the hereafter. ( Complete sentences are non necessary. 0. 5 points ) two goods that I might see purchasing in the hereafter are a auto and house. The ground for that being said is because auto will acquire me to put to put and a house would set a roof over my caput at dark.
3. List two illustrations of services you have purchased in the past or may buy in the hereafter. ( Complete sentences are non necessary. 0. 5 points ) Two services I likely purchase in the hereafter are a auto care and a baby-sitter. The ground for that being said is because one need to acquire my cheque every twelvemonth to do certain one avoid any jobs and such. The ground for the 2nd thing is merely in instance I wanted to hold childs one twenty-four hours I will necessitate person to watch them why I’m at work.
4. One of the maps of money is as a shop of value. How does rising prices impact money’s ability to hive away value? ( 3-6 sentences. 2. 0 points ) The word rising prices means the addition in monetary values and the autumn in the buying value of money. Inflation can impact it because it can diminish the value of money over clip. If rising prices addition it is wise to put the money iin investings that are likely to increase the value.
5. Imagine that you are sing traveling to a new state and looking for a occupation at that place. but you foremost want to do certain the state has a strong economic system. Describe at least three economic factors that you would desire to research as grounds of the economy’s strength or failing. and explicate how each factor would impact your determination to travel at that place. ( 4-6 sentences. 3. 0 points ) One economic factor that I would see researching is the GDP ( gross domestic merchandise ) . If the GDP increases the economic system is turning and going stronger. if it decreases the economic system is shriveling and becomes weaker.
6. Explain which economic system ( market. planned. assorted. or traditional ) you think is best for consumers. Describe at least one ground why you think this system is best for consumers. ( 4-7 sentences. 3. 0 points )
7. In capitalist economy. most concerns have a net income motivation. Describe at least one ground that concerns with a net income motivation may be helpful for society and at least one ground that they may be harmful for society. Then. explicate whether you think gain motivation is a good thing or a bad thing for society. ( 4-7 sentences. 2. 0 points )
8. Choose a well-known company that you know of. and depict its direct and indirect rivals. Describe at least three direct rivals and three indirect rivals. ( 6-12 sentences. 3. 0 points )
9. Imagine that you are purchasing a new computing machine and comparing different trade names and monetary values. Describe at least two nonprice competition factors you might see when doing your determination. ( 2-4 sentences. 2. 0 points )
10. Describe a existent or made up but realistic illustration of a merchandise that went through a clip of scarceness. when demand was greater than the supply. What is the merchandise. and why do you believe it became scarce? What happened to the monetary value of the merchandise when it was scarce? ( 3-6 sentences. 2. 0 points )
11. Describe a merchandise. and so give an illustration of a clip when the demand for this merchandise might be high and the demand for this merchandise might be low. ( 2-4 sentences. 2. 0 points )
12. Describe an illustration of a merchandise that has extremely elastic demand. Describe at least two factors that make this product’s demand so elastic. ( 4-6 sentences. 2. 0 points )