The market system in the US is a great system. Our economy has notmbeen very good for the past 4 years but hopfully it will bounce back soon. The things that i can relate to this market economy is "major strength of the market economy it is high degree of individual freedom. So in other words, when you have a market economy people can produce whatever they want to, as lojng as they think it will be successfull. I have been in this busness marketing a product called verve and so i can relate to how the market economy works.
A disadvantage of having a command economy is that it is not made to meet all of the wants of the consumers even though many basic needs are provided. So not all of the peoples needs are met with a command economy and that is a bad thing because if they sell a certain amount of shoes in one size then the other sizes will run out much faster and there will only be a certain amount of shoes left that may not fit all of the peoples wants and needs. this is bad because the people will want to leave and go to a different country to get exactly what they want and so they can go into a market economy and buy and sell anything they want. A question i have with a command economy is how many command economies are there in this world and how profitable are they?
Friday, September 21, 2012
Thursday, September 13, 2012
blog 2
At the end of summer last year i was faced with two very important work decisions. #1 do i stay with my current job and work for subway like what i have been doing for the past one and a half years? #2 do i decide it is time to move on and work a different job at Postal Connection and try that out to gain new work experience or continue with what i know and stay at subway. this was not a very hard decision for me and i choose to work at Postal Connection over subway. This was an easy choice for me because the people that i worked with at subway were very rude and did not care too much about customer service, i did not like doing the same thing over and over again every single day; it just got too boring for me and so when i had a new opportunity i had to go for it.
I did not know anything about the business at all and so everything was totally new to me. the thing i really enjoyed about working for postal connection was i was getting paid $12.50 an hour vs.when i worked for subway and i got paid $8.80 an hour and barley any tips with it. I also enjoyed how it was less stressful than subway; you were never slammed to the door at postal connection and you never had any annoying customers yell at you for not doing your job correctly. The opportunity cost that i gave up when i was making my decision was staying with subway and do everything i already knew how to do which was easy, vs quitting subway and trying something totally new that i had no idea what i was doing, but gained more work experience and gain a better opportunity. by doing this i think i choose the correct choice because i wanted to experience more work and see how it can affect me later on in the future. A question i have is what would the opportunity cost be if i stayed with subway and didn't go after my new job? where would i be now? would i be in a better spot or a worse spot then before and how would my opportunity cost effect me?
At the end of summer last year i was faced with two very important work decisions. #1 do i stay with my current job and work for subway like what i have been doing for the past one and a half years? #2 do i decide it is time to move on and work a different job at Postal Connection and try that out to gain new work experience or continue with what i know and stay at subway. this was not a very hard decision for me and i choose to work at Postal Connection over subway. This was an easy choice for me because the people that i worked with at subway were very rude and did not care too much about customer service, i did not like doing the same thing over and over again every single day; it just got too boring for me and so when i had a new opportunity i had to go for it.
I did not know anything about the business at all and so everything was totally new to me. the thing i really enjoyed about working for postal connection was i was getting paid $12.50 an hour vs.when i worked for subway and i got paid $8.80 an hour and barley any tips with it. I also enjoyed how it was less stressful than subway; you were never slammed to the door at postal connection and you never had any annoying customers yell at you for not doing your job correctly. The opportunity cost that i gave up when i was making my decision was staying with subway and do everything i already knew how to do which was easy, vs quitting subway and trying something totally new that i had no idea what i was doing, but gained more work experience and gain a better opportunity. by doing this i think i choose the correct choice because i wanted to experience more work and see how it can affect me later on in the future. A question i have is what would the opportunity cost be if i stayed with subway and didn't go after my new job? where would i be now? would i be in a better spot or a worse spot then before and how would my opportunity cost effect me?
scarcity,yo
An item that is scarce in my house would be a tv. we only have one tv in our house and it is a 55 inch LED sony tv, we did have 3 total tvs in our house but one of them broke and my dad sold the other tv at a garage sale. it is a scarce item because unlike our cells phones, everyone in the house has one unlike our tv, not everyone has a tv in my house. we only have one tv compared to a total of 5 phones in the house.
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