Economics and Profit Motive Essay examples

Submitted By gujar12345
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Atique
(1) Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally Help give you financial security. Make your money grow. Seek out a good investment advisor who will assess your penchant towards risk & reccommend appropriate investments. Edward Jones reps are rated best & most conservative.

(2) List two examples of goods you have purchased in the past or may purchase in the future. (Complete sentences are not necessary You purchased a hair cut and a cell phone contract.

(3) List two examples of services you have purchased in the past or may purchase in the future. (Complete sentences are not necessary

You purchased a hair cut and a cell phone contract (4) One of the functions of money is as a store of value. How does inflation affect money's ability to store value? Inflation erodes the buying power of money. A loaf of bread still takes just as much time and effort to make today as it took last year, but the price rises because the money value erodes with time. Last year, bread cost $0.99. This year, $1.29. The rise in price comes mainly from two factors, rise in cost of raw materials and inflation causing the dollar to buy less in goods and services.
(5) Imagine that you are considering moving to a new country and looking for a job there, but you first want to make sure the country has a strong economy. Describe at least three economic factors that you would want to research as evidence of the economy's strength or weakness, and explain how each factor would affect your decision to move there ? Imagine that you are considering moving to a new country and looking for a job there, but you first want to make sure the country has a strong economy. Describe at least three economic factors that you would want to research as evidence of the economy's strength or weakness, and explain how each factor would affect your decision to move there.
(6) Explain which economic system (market, planned, mixed, or traditional) you think is best for consumers. Describe at least one reason why you