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Economic Basics

Essay by   •  July 16, 2019  •  Research Paper  •  761 Words (4 Pages)  •  255 Views

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Graded Assignment

Assignment 1: Economic Basics

Instructions

Save the assignment to your computer with your name at the end of the filename (e.g., Graded_Assignment_U14_Alice_Jones.doc).

Type the answers to the assignment's questions. Use complete sentences unless the question says otherwise. You will have more than one day to complete an assignment. At the end of each day, be sure to save your progress.

Assignment

Total score: ____ of 24points

(Score for Question 1: ___ of 2.0 points)

  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. (4-6 sentences)

Answer: Financial planning can help you buy a car and also buy a house. These two things are important too me personally for different reasons. The house is important to me because

 (Score for Question 2: ___ of 0.5 points)

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

Answer:  groceries, hot fries

 (Score for Question 3: ___ of 0.5 points)

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

Answer: plumbing, cable

 (Score for Question 4: ___ of 2.0 points)

  1. One of the functions of money is as a store of value. How does inflation affect money's ability to store value? (3-6 sentences)

Answer: it erodes the buying power of money. If the buying power of money is eroded then it makes the money itself less valuable. It’s considered less valuable because it wouldn’t be able worth as much as it used to be.

 (Score for Question 5: ___ of 3.0 points)

  1. 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. (4-6 sentences)

Answer:  the marketplace surplus, capital formation, natural resources. These 3 factors would be important in my decision to move to area. The natural resources would factor because I would want to know what my new country has to offer for natural services. The marketplace surplus would help me know about the money markets make and the value of them. And the capital formation would help me understand the government there,.

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