Assingment #6

Entrepreneurship Interview:

1. Name of Entrepreneur/ Name of entrepreneur's business/ complete address(including zip code)
- Angela Hall
-Whipple Collins Catering Services
-920 Nottingham Dr.
Dublin,Ga

2.Type of business organization?
-Partnership

3. Length of time business has been in operation
- 5 years

4. list products provided by the business (goods/services)
-Home made meals

5. Number of employees/ skills needed to work in the business
- 10 employees
-cooking
-hosting
-serving
-dedication

6. List benefits of business to community/ What does this business provided that similar business don't provide
-Meals from scratch

7. Major competitor for this business and how this business remains competitive
- Other catering services
-Reputation for good meals
-Regular costumers
-Lots of  Recommendation

8. Describe methods used to increase growth of business and any future plans for expansion
-Better advertisement
-Website
-Business Cards

9. Three greatest challenges operating the business
-Man Power
-Space
-Finances

10. Three greatest rewards in operating the business
-Find pleasure to be together as a family
-Finance vacations every two years
-Enjoyment from cooking

Mircoeconomics Assingment#5

Microeconomics

1. Using the typical "Facebook" lingo, write a definition for Microeconomics and then provide a standard English translation for your "Facebook" definition.

Mircoeconomics is a branch of economics that studies how the individual parts of the economy, the household and the firms, make decisions to allocate limited resources, typically in markets where goods or services are being bought and sold.

                                                                  Role of Money:
1. Using what you learned about the three functions of money, explain how "play money" differs from "real money"?

                    vs                                

Real money deals medium of exchange, store value, and unit of account. Play money does not, it is fake, it cant be used for any of these functions.

2. Money has no actual value other than the value we attach to it. The barter system would be practiced today if the participants did not agree to set a value on a piece of printed paper that represented the value of the goods and services they had to offer. What would you accept in place of money, if someone wanted to buy your most prized material possesion?

I would accept something that means almost the same to that person. Just like money, you get what you pay for and if it means that much to me, I want something that means the most to you.
                                                    Circular Flow Model - M11
1.)What does a circular flow model tell us?

Circular Flow refers to a simple economic model which describes the reciprocal circulation of income between producers and consumers.

2.) What is the role of households in the three sector circular flow model?

The role of households pay taxes to the government and the households gives the businesses labors and payments.

3. What is the role of businesses in the three sector circular flow model?

The role of the business is to pay taxes and give goods and services to the government .Business also gives income and goods and services to the households.

4. What is the role of government in the three sector circular flow model?

The government provides services and payments to the business and services and income to the households.
5. What role do households have in the factors or resource market (inputs)?

The households are the factor market

Fundamental Economic Systems Standards Assignment #4

Title:Economuic Goals, Role Of Government; Economic Growth and Stability

1. How are the economic goals of freedom, security, efficency, equity, stability, and economic growth achived in a  market economy? Economic freedom simply allows people to have freedom in the economy.Economic equity is the fairness of all people disregarding race or income. Economic stability is the absence of excesive fluctuations in the economy.Economic Growth is the process which a country's wealth increases over time. Security is simply for protecting the economy.

2. Why has the role of government in the economy increased dramarically since the 1880's?
The government has increased because of scarcity.

3. Write an argument that supports or opposes the statement in the visual below that says "deregualtion won't work because people are greedy".
This statement is very accurate. America sees nothing but the finer things in life and the problem is that we have so much demand we dont have enough supply. If deregulation occurs then there is not gone be enough economic equity.


4. Explain why the government provides public goods and services?  Why are these public goods and services NOT provided sector?
The government provides public goods and services for consumers and producers in a market economy .  Goods and services are not provided by the private sector because there's government involvement so that means its in the command economy.
5.Describe the 6 functions of government in a market economy .
The 6 functions are maintaing social fram work, providing public goods, maintaining competition, redistribution income, correcting for exteralities, and stabilizaing the economy.

6.Describe the relationship that inputs and outputs have on productivity?In order for an economy to be sucessful  it must increase productivity . It must produce output which are the products for the resources . Productivity equals the amount of output of products and the input of resources.

7.How do investments in capital goods ,technology, human capital and training and educating workers , improve productivity and economic growth? They improve productivity and economic growth by using some of the economy profits to buy new machines and equipment , to research and implement new technologies ,and to improve the education of the workforce.
8.Refer to the chart below and explain the cause of the decrease in the output, productivity and employmet in manufacturing in the united states .What can the united states do to reverse this downward trendin manufacturing?
The unemployment rate is high because only a few workers producing the output in the u.s manufacturing and the productivity growth is almost equal, therefore there is not enough workers to do the job.

Format and Instructions for Assingment #2

Standard EF2 and EF3

Title: Production Possibilities Cruve; Rational Decision Making; and Specialization

• 
  
  If I owned a busniess, a Production Possibilities Cruve  illustrates the production possibilities of an economy--the alternative combinations of two goods that an economy can produce with given resources and technology. Two factors that cause an outward shift would result when there is an improvement in technology that would benefit both types of goods and a increase in the workforce which would result in mor factor resources being exploited.
• The best way to determine whether or not we are making a rational economic decision 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

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

Format and instructions for Assignment #1

Standard EF1

Title: Limited Resources and Unlimited Wants and Needs

•  Scarcity influence the choices I make about spending my money because I tend to spend more than what I have. An example of trade-off was when I had to give up basketball in order to stay focus in school and pass my classes. The opportunity cost of my decision was playing basketball. I made my decision by deciding which one is more important to me. In the end I felt great because I graduated with my 8th grade class and continued to play in high school.

• I think i would see myself  being the entrepreneur who makes the decisions about the use of labor. I reached this conclusion because I feel as if  I am a leader and i think that perfection is everything. You need the best to be the best.

• The business owners influence each of these factors of production because these are things they need. They need land to have a place to start the business,labor to get the work done, the capital to see the goals that you set for your business, and entrepreneurship to make the business and money because if you don't have either one then the business would fail. 

• I feel that this standard was understandable. I understood the four factors of productions and how business owners affect them.

Format and Instructions for Assignment #3

Standard: SSEF4
Title: How different economic systems answer the three basic econmic questions

1.The three basic econmic questions that every society must answer is:
- What to produce?
- How to produce it?
-For whom will it be produced?

2.An economic system is the system of production, distribution and consumption of goods and services of an economy. The four types of economic systems are:
-Market Economy
ex: An example of a market economy is the United States. For those of you who don't know, a market economy is where the resources of a country are owned and controlled by the people of the country, rather than the government.

-Command Economy
ex: Cuba, North Korea, China, Russia and Iran.are current examples of economies that are closest to perfect command economies.. An economy that is planned and controlled by a central administration.

-Traditonal Economy
ex: In a traditional economy everything essentially proceeds as it always has. It is controlled by tradition (hence the name) and by culture.The only examples of traditional economies are ones where little has changed for centuries - it was used by aborignal Americans and still is by some African and South American tribes.


- Mixed Economy
ex: The definition of mixed economy remains somewhat subjective. Both the US and Cuba have been refered to as mixed economies as all economies are to some extent or another mixed. Pure capitalism and pure communism have never and most likely can never exsist. The world's developed nations are the most common examples of mixed economies.

3. The Market Economy is controlled by the buyers and sellers, The Command econmy is controlled by the goverment, the traditonal economy is based on custom and the mixed economy is a mixture od capitilism and socialism.

4.The U.S federal government regulates private enterprise in numerous ways . Traditionally , the government has sought to prevent monopolies such as electric utilities from raising prices



5.The economic system that the childern pursued was the traditional economy because they were doing as they were taught.

6.All of the elements are apart of the market economy except for the government regulation because that deals with the command economy and the traditional economy deals with social involvement.

My first week back to school!!!!

SO MY FIRST WEEK BACK TO SCHOOL WAS KIND OF A DRAG. I WASN'T HAPPY WITH SOME OF MY CLASSES BUT I WILL MANAGE. THEY CHANGED THE LUNCH SCHEDULE WHICH MADE IT WORSE BECASUE I BECOME WE HAVE TO EAT AFTER ANOTHER SCHOOL. ON THE OTHER HAND I HOPE THIS SCHOOL YEAR IS THE BEST YEAR. THIS IS THE LAST OF THE BEGINNING. YAYYYYYY MAY 2011 HERE WE COME!!!!!!!!!