Assignment 1: Economic Basics
Save this file in your course folder, and name it with Assignment, the section number, and your first initial and last name. For example, Jessie Robinson's assignment for Section 1 would be named Assignment1JRobinson.
Type the answers to the assignment questions below. 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.
Review Lesson 4 of the Course Overview for instructions about turning in your assignments.
1. Describe two examples of important things that financial ...view middle of the document...
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. 3.0 points)
6. Explain which economic system (market, planned, mixed, or traditional) you think is best for consumers. Describe at least one reason why you think this system is best for consumers. (4-7 sentences. 3.0 points) i think the best economic system is mixed because it contains both privately-owned and state-owned enterprises. It gives people the right to what they want and also the gov't to be involved. the gov't can intervene to make sure that the companies don't harm the customers.
7. In capitalism, most businesses have a profit motive. Describe at least one reason that businesses with a profit motive may be helpful for society and at least one reason that they may be harmful for society. Then, explain whether you think profit motive is a good thing or a bad thing for society. (4-7 sentences. 2.0 points) Capitalism allows people to choose what they want to do(job) , it gives people the right to spend their money where they want.harmful: the gov't control is very limited, it allows people to dominate the industry. the richer gets richer n the poor gets poorer.
8. Choose a well-known company that you know of, and describe its direct and indirect competitors. Describe at least three direct competitors and three indirect competitors. (6-12 sentences. 3.0 points)
Jack in the Box
Local burger joints
Cotton Patch Cafe
The indirect competitors are comprised of all places that are not fast food joints,...