Read the following news stories and choose one or more to discuss. Write your comments in the comments section and check back for your classmates' opinions. Be civil and polite, but you may disagree with each other. Argue using the information in the story or anything you may know that's relevant. Do not go off topic or put anyone down. Worlds Cheapest Car Plans to Enter the U.S. Market Should we allow such a tiny car on our freeways? Vick, Eagles agree to 2-year deal Does Michael Vick deserve to become wealthy again? Your Cup of Starbucks Just Got More Expensive Why do you think Starbucks' cost of doing business is going up in such a bad economy? Do you think they'll get less business? Why?
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Ch. 1 Notes
What is Economics? Section 1: Scarcity and the Factors of Production What do the following have in common? Scarcity and Choice Economics is the study of how people seek to satisfy their needs and wants by making choices A need is something like air, food, shelter or water that is necessary for survival A want is an item we desire but is not necessary for survival Economics answers such questions as: What will happen to me if I go to the movies instead of study for this test? How many people should my company employ, and how much should it produce? How much should the national government tax its citizens and on what should it spend the money? Why not both? Why not hire everyone and produce everything? Why not have the government pay for everything? The Answer: Scarcity What is Scarcity? Goods, physical objects like clothes and shoes, and services like haircuts, doctor visits and acting in a movie, are all finite...there isn't an unlimited amount of them Not the same as a ...
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-Carmella Love
anyways they're just 25 cents....