02/27/2014 Reflection Blog!

The Government Week!

This week we learned a lot about the different moves a government has to make.
We learned about public transfer payments which is a way to distribute income, public safety nets that are for those who can't provide for themselves, and Public transfer payments that is when government transfers income from taxpayers to recipients who do not provide anything in return towards society. We learned about the different spendings and how difficult it is for our government to chose whatever is most beneficial towards us. We learned about mandatory and discretionary spending and what they offer. We also learned about the different entitlement programs like; social security, medicare, and medicaid and how they are aimed to help the people with less income in society. Our government does a lot to help its people and I think that is amazing.

Weekly Blog 2/21/2014

This week was very interesting and educational. We talked about how a big chain store (Wall-Mart) could affect a small town. We watched a movie about the town of Ashland and their process of acquiring a Wall-Mart in town, most of the townspeople were against Wall-Mart because they were concerned for the local businesses future, they knew that if a Wall-Mart arrived at Ashland it would make the local businesses close. The council of Ashland had several meetings to argue the future of the town, in the end it was decided that a Wall-Mart would be in Ashland's best interest, it would bring more people to town, create jobs, and offer low price products for everyone. We also discusses whether or not Weserville should have its own Wall-Mart. We researched the pros and cons of having such a big chain store in a small developing town and we came to the decision that it would be positive for the town to have a Wall-Mart. There were certain sacrifices that were necessary in order to have a Wall-Mart in Weserville, and certain requirements had to be met in order for Wall-Mart to accept the town's petition. In my opinion it will be very beneficial for Weserville to have a big chain store because it will create jobs, it will bring more people to the town, and the people of Weserville will be able to enjoy the benefits of the low prices from such a store like Wall-Mart.

Blog Week 2

This week was based in which business would be more efficient in Weserville. We were assigned to chose a business that would function the best in Weserville, we had to take in consideration the resources that would be necessary to make it happen, as well as the circular flow motion chart which includes the factors of production, the product market, the business itself and the household.

2/6/2014 Weekly Reflective Blog

Reflective Blog

This week we learned a lot about economy. First we learned about the three different types of economy; Traditional economy which is a historical economic system in which traditions, customs, and beliefs shape the goods and products the society creates. Command economy, an economy in which production, investment, prices, and incomes are determined centrally by a government, and Market economy that is an economy that relies chiefly on market forces to allocate goods and resources and to determine prices.

We also learned about these two men, Adam Smith and Karl Marx which are great historical character when it comes to economics, Smith thought that a capitalist was the best choice for any country while Marx preached that capitalism would fail and that society should adopt Socialism.

At the end of the day, all that both of these men wanted was whatever was the best for the people and society. Even with their very different beliefs they are looked up to when it comes to economics.

Blog Numero One

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