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TASK 1:

The Stock Market is not something that can be taken lightly. In the stockmarket money is really everything when playing in the stock market. If you have no money then you absolutely can not play the stock market. In order to invest into a stock of choice, a person must put down some money. Slowly but surely, in order to see a significant change in the amount they originally started with you must know what is a good investment and what is not a good investment. A profit is not always made when making an investment on a stock. When someone seems interested in investing into a stock the should research because that is a key to know right from wrong. Some stock may be looking good on the charts but writers may be saying otherwise and give reason as to why they think that. The stock market is like a Roller Coaster, it is always moving up and down, left to right. It is incredible how heckit is can be to play the stock market well. For example, investing some money into a stock that is doing fantastic at that moment may not be the same next week or even the next day.

Stocks have their own ups and downs that no one will ever understand why they happen. If someone decides to invest into the stock market they should be aware of the frustration and patients that has to come with it. Although money has a lot to do with the stock market so does emotion. Everyone has emotions whether it is joyful. depressed, peaceful, etc. emotion shouldn’t play a factor when investing money in the stock market. When people see a green arrow pointing up they feel as if they have accomplished a goal in life, but when the see a red arrow pointing down it the end of the world. That shouldn’t be the case in all the. People need to know what is going on when they are looking at the stock market. Instead of being ignorant, research would help out a lot to those who plan on investing.

TASK 4: SCARCITY

According to Merriam Webster, the definition of scarcity is a very small supply : the state of being scarce. Scarcity is all over the world and applies to many people. Each person may have their own way of scarce. It may be the fact that some is in search of food, water, money, a home and many other. In this article it talks about all kinds of reason as to why scarcity is. It is a simple concept to understand, basically scarcity is very common because in our society today and also in the past our needs and wants are endless. For example, there are people that like to collect items, such as shoes. These people are not satisfied with just one pair of extravagant and may i mention also expensive pair of shoes. No they must have the new released shoes or the shoe that are in style. These people have no limit when is comes to have a fresh pair of sneakers. Now lets say for more than2 years none of those ridiculously expensive shoes come out. Then all these “sneaker-heads” are just wait to get there hands on a new pair of shoes. Since they wait for so long that those certain shoe become more and more scarce. to those people. The wants and needs of these people are endless. These shoes may be expensive but the reason for that is most likely because the material used to make the shoe is also scarce because of that price may rise significantly in order to satisfy those sneaker-heads. Although i made it seem as if scarcity was bad it also has its positive perks. The world needs a balance of both good and bad, so does the economy. Scarcity is a good thing because if it didn’t exist everything in this world would be free. Scarcity also opens more job opportunities for those without one. For example, several years back i went to visit my uncle, who owned a mechanic shop, in Redmond, Oregon. While i was there i notice that there was not many mechanic shops near by. The people in that town will always need a mechanic, so because of the scarcity in mechanics my uncle has always had excellent business. Scarcity is not something to worry about, yes it will hurt some but it will also may benefit others at the same time.

http://study.com/academy/lesson/what-is-the-basic-economic-problem-of-scarcity-lesson-quiz.html

TASK 3: CAPITALISM

Capitalism is a common word used to describe our social system that we have and also live in today. According to the google definition, this word can be defined as an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. This type of social system is now starting to become something more common throughout the entire world. In capitalism we buy and trade off with different countries, we do this by producing goods and to also further distribute them to foreign countries. In order to produce the goods workers are needed to help out. Technology is not that much up to date where we don't have to move a finger because a machine can simply do it, so we have workers. People work in order to get some sort of income to provide for themselves and or their families.

Now lets say someone has lost their job but is in need of some sort of income. So they start their own local business making shirts. This person need to first buy the equipment and then find a price that is reasonable to sell for. The materials are cheap so this person starts off his price at $10, now this person is considered a producer. He produced the shirts in order to make a small income. In a capitalist country this kind of stuff is permitted because they produced shirt on their own and are self-employed. The state may not interfere with this action because the person live in a country where capitalism is normal.

http://www.worldsocialism.org/english/what-capitalism

TASK 2: WHAT IS MONEY?

DRAFTBACK REFLECTION

I have always known that I am a bad writer. I don’t like writing at all because its not my strongest subject and after looking at my draftback a few times... wow. I AM A TERRIBLE WRITER! My style of writing is just to keep writing and not looking back. I write just to finish an assignment on time so that I can get credit for on time work. I notice I don’t like to go back and edit anything as soon as I’m done I don’t got back. Honestly, I need to started editing my writing so that it looks like a high school student wrote it. I should do this not only for my own reasons but so people don’t think that some little kid is writing.

Keyne VS Hayek

Keyne and Hayek both are people whom have studied and observed the economy to see what is the best way for the economy move on. In order for the economy to be stable and move is a structural matter, Hayek believes that we should have a Free Market system. He also believes that the reason for the United States bust was because of the low interest rates going on. High interest rates is better so the economy would not go in dept. Hayek says that war is the main cause of massive distruction. Weapons, shelter and also food is bought to those at war using our tax money On the other hand, Keyne says that we should have a steered market. He says that if there is order for the economy and were are able to spend money then we we must spend and take advantage of the good time. When the economy is bad then we should start saving our money. When the government spends money on a town, city, state or even the whole country. Hayek does not think that war is a bad thing he think that wars in depressions. Keyne is more of a liberal and Hayek is a conservative, both have good ideas but Keynes philosophy over powers Hayek for right now,

U1-U6

U1- Luis is 24 years old and has fallen in the long term unemployed rate. He dropped out of high school and never got a diploma or a GED. Luis has been incarcerated for 3 year and is now a felon. He lives in Nevada where the unemployment rate is now one of the highest due to the fact that the cities rise in population and competition is growing just as fast. He worked at a local casino as a janitor but was laid off because of his incarceration.

U2- Creg workers for a farmer in Rhode Island whose job is seasonal. He has been a farming for this man since the age of 18, after he graduated high school. When winter comes around there is no crop being grown because it gets cold. Creg loses his as soon as the winter season comes around. and is now unemployed.

U3- Troy works as a barback at a local bar called ‘FIRE’. He has had this job for about 10 years now and does not plan on leaving. until one day he shows up to work and ready and the boss calls he to the back. They explain to Troy that they bought a new machine to do his work a lot faster and more officiant. He really is not that skilled in anything else so he is not able to find a jobs for his specific skill.

U4- Philly is a young woman of 25 years old and has not had a job for almost 2 years. She is currently a stay at home mom but searching everyday. she resume is not long and her work experience does not meet the expectation to the jobs she is applying for.

U5- Mike had just turned 16 years old a few months ago and is now looking for a job. He plans on going to college in New York but has to start saving as soon as possible. Mike has searched for a got for a couple month but has not found anything. He is not very skilled at anything since this is his first job.

U6- Blu is 30 year old man working retail at Walmart in Oregon. He plans on moving to Colorado and wants to be transferred locations. In Oregon he works full time putting in 40 hours a week and getting paid $10.50 an hour. When he is relocated to Colorado they start his pay at $8.50 and hour and only putting in 25 to 30 hours a week. Now he is forced to work part time at a low pay rate.

Economics VS. Wilderness

A economic system is different from the wilderness on this earth, but not by a long shot. In our economic system the people are the center of everything. By that I mean that people produce and consume in a everyday basis. “We all strive for safety, prosperity, comfort, long life, and dullness” to a lot of people these are life goals, but in reality it means nothing. We think that we are able to do anything and everything but we really can’t. We set limits to ourselves to die “comfortable and safe” but that’s not the case. We need to see the earth in a different perspective. Instead of thinking of the short term we should think of the the long term in life. The wilderness is always there nothing really changes, unlike in our economy, but just like we produce and consume the wilderness does too. Animals die everyday in order to survive. Animals have a “kill or be killed” mentality. A economic system and the wilderness both have that producer and consumer cycle. Earth day is not a day to “Reduce Reuse Recycle” it is so that we the people can change or perspective on our state of mind on the earth. Not to just strive for safety, prosperity, comfort, long life, and dullness but to experience what is really out there in this world for all of us.

Raul Castro, the 14th Governor of Arizona, was born in Cananea, Mexico with 12 other sibling. Raul Castro and his family migrated to the United State because they were political refugees. Rauls father was organizing a group in mexico but things weren't going so well so the fled to the U.S. This is where Raul Castors life journey began to success. When Raul was just a boy his father past away and with 12 siblings and a single mother, Castro began working in order to bring something to the table for his family. He adapted to become the man of the house quickly in order to survive in the U.S. were segregation was still around. One day when we was out looking for food, he found a spot in 10th street Douglas were Governor George W.P. Hunt was giving a speech. Raul Castro heard him say even one of "these young barefooted Mexican kids" could be governor one day. He was inferring this comment directly towards him and his friends. At the time Castro did not even know what governor meant. Raul was not always a great student. Before entering into high school his fifth grade teacher told him that he could do good in school if he tried more. So Raul Castro did as told. He graduated high-school and was able to go to college but his teacher told him not to waste his time or money because he would never find a job for being Latino. Raul took there advice and kept working to provide for his family.Until one day someone that worked at NAU approached him and asked him if he wanted an athletic scholarship to go to school there. NAU was in need of a quarterback at the time and Castro had experience in that position because he played QB in high school. He quickly took the offer and went to college. When he got there it was nothing like he expected. Him and a few other Latinos were isolated from everyone. That didn't face Castro because he got a degree in teaching but never found a job. Raul became a hobo until one day his brother called him and told him he was ready to drop out of school so he went back home and started working again to help out his family. He later himself went back to NAU to get into law school. He graduated and slowly worked his way up to being a governor. It took Raul Castro a long time to be successful in life but he never gave up. Raul managed to work, go to school, graduate both high school and college, become a hobo and still have a comeback to become a Governor for the State of Arizona. I believe his story would be possible today because he over came so many obstacles such as overcoming being a hobo and immigrant to becoming a great U.S. citizen governor.

Circular Flow

In 2007 the Great Recession hit everyone in some sort of way. It may have been physically or mentally but it sure did some damage to some people, some lost their jobs, others lost their home, even those who were in a university or college that were ready to graduate were affected. The graduating class of 2008 really felt the difficulty of finding employment. During that time the Recession was at one of its peak, the few that did find a job coming out of college were not necessarily getting paid the amount of money they hoped for. For example, Joe Moser graduated from the University of Iowa’s law school in 2011, another terrible year to graduate. While he was going to school he was a bartender at a local bar, he later found a job at a law firm, he was glad that he didn't have to bar-tend anymore and that he found a job in the field he studied in. Although he was not to delighted with the paycheck that he would recieve. The youth is always told to go to school to get some sort of degree in order to have more job opportunities and get a better pay. This was not the case for Joe and other students who graduated during the recession. In the 1980s people got paid a lot more after graduating college than those who graduated during the Great Recession. The reason why these students who are recently graduated are not getting paid the amount that they should be getting is because of all the competition going on. People who are already have the job that has to do with their degree are fighting to keep it. Not only do they want to keep the job they have, they also want to get a promotion to get paid more. Competition is what is going on after graduating college. The Recession affected the economic activities that were suppose to be going on. The Circular Flow very well demonstrated that affect that went on. The problem was that consumers tried to save their money instead of spending. Consumer were not buying goods and services so labor was more limited, this is why so many people lost their jobs and went unemployed. The U.S. Recession is gradually building back up to how it use to be, however I don’t think it will change for the better soon. College graduates are still in major debt due to the fact that the interest rate on student loan is still rising. After graduating, it isn't as easy as it may seem to find a job in the field of study they just graduated from. People take years and years to pay off a student loan, more and more students want to go to college, which means more debt. Hopefully our economy is ready for what is coming in the future with all this debt.

#10.1

mikegomez2015

iphotographer-15-blog-blog

Do you think a country should base its progress on GDP and SPI or one or the other? I strongly believe that balancing both when looking at a countries progress should be a main key to unlock a place where individuals are happy with their lives and happy with their environment.

mikegomez2015

Creating balance is necessary in almost everything, so yes I do believe that both GDP and SPI would figure out how the country is doing. This would help as a country to better our own lives do that we are not so closed minded.

Stock Market

The Stock Market is money being invested into stocks, which are exchanged with other. People do this in order to double up their money they initially started with and try to beat the stock market. The stock market isn’t something that is consistently staying the same, it’s crazy because one day you may invest money into a product that is doing outstanding in the stock market but a few hours later it may crash and do terrible. The first time around when I played the marketwatch game emotion played a huge factor into the way I played the game. Whenever i would log on to play and i would see that i had a few small gains and a few small loses, i would get extremely excited or disappointed because i saw red or green. I really didn’t take into consideration the significance of the positive and negative percentages.

I learned that emotion shouldn’t get in the way of me investing into a certain stock or even any investments. Instead of panacing, another option would be to weigh out the situation to see if it is worth it or not. Another thing is that whenever investing into a stock market it takes time to see a results. For examples, when I first played the Marketwatch game I would buy some shares and I would expect them to make a difference right away, but that wasn’t the case. The market has its times when it is open and when it shut down. I had to wait until the next day in order to see my purchase.

Money also has a great effect in all the stock market. I mean that is the reason to play the game, to invest in your money and try to make a significant amount of profit then what was started with. When companies set their prices they take into consideration how well the economy is doing as well as what is affordable for the consumers. The company has to make a profit in order to persuade other consumers to join them in their earnings and also their success.

#stockmarket

andreashallbeblogging

iphotographer-15-blog-blog

Simon Kuznets shared the creation of Gross Domestic Product and it is a measure of economic performance and he warned that this should only be a tool of measure and should not be a guide for a countries decision making but people have ignored this and the world makes its choices based on Gross...

mikegomez2015

I absolutely agree with the all the point you stated. I think that people don't always understand the true significance of GDP so that is why some base their live off of GDP. This is a tool of measurement to help see how the whole economy's a doing, this is not a lifestyle. I also like how you mentioned that if GDP is high then SPI is low because this is true. If someone is just worried about money, money, money then they forget about living a happy and enjoyable life. I think it's better for both GDP and SPI to be stabled and balanced. If one over powers the other then that is no good, with balance I believe people would live a better life that they would enjoy waking up to everyday.

TED Talk

Michael Green goes in depth in explaining in the creation of Gross Domestic Product, also known as GDP, which is a measure of the economic performance threw out the United States. It is basically a measurement of the money being made in the country. Another tool that is used to see how the country is doing is The Social Progress Index, better known as SPI, measures the variables that actually have to do with how a person is feeling. Variables such as education, health care, etcetera. Both GDP and SPI are tool which helps analyze how a society is doing as a whole within a specific country. These tools also help us further to understand out a country does when it comes down to having a scarce amount of supplies. Michael Green wants us to knowledge the fact that GDP should not take control over our lives. It is simply a tool of measurement used to see how the economy is doing. Although GDP is indeed just a tool, this tool does not take into consideration that people have other important things to worry about. This tool doesn't measure the justices, fairness, happiness, or the communities in the economy. For example, the United States is one of the wealthiest countries in the world, the GDP is higher than other countries but in New Zealand the SPI is much greater then the U.S. New Zealand may not be as wealthy as we are but they sure are happier then us. I would rather have both a stable economy and also be happy with where I live and how I'm living.

#GDP SPI

What is money?

What is money? This is a common question that not many people stop and actually think about. Money is essentially a claim on human labor. It is very obvious that society doesn’t like to work for free and always expect something in return. We live in a “give and receive” world with people who have a “give and receive” mentality. That specific mindset is the cause for why many people don’t do many things out of the kindness of their heart. We believe that if we give time and put effort into labor, it is required from whoever we are doing labor services for that they reward us with a good, that being money or something worth value. In order for money to be used properly it must have three components; first component being that the money must have store of value, second component being that the money must be a unit of account, and the last component being that the money must be a medium of exchange. When being told that money must store value, what is basically being said is that it must last for a long period of time or for it to be relatively rare. When said that in order for money to work properly money must also have a unit of account, it is basically being told that it must be divisible or identical to another unit. Lastly, when were told that money must be a medium of exchange, we are being told that if there is ever an exchange of something, both of the individuals trading must agree that what they are trading is acceptable and will work just as well as to what was traded. In 2008, after the housing market collapsed we heard about the trillions of dollars that were disappearing. The question repeatedly asked by everyone was, “Where did all those trillions of dollars go?” My view on money is that money is fictional and that it is currency used as simple information. I believe it to be numbers that only go back and forth between banks and with numerous amounts of people all over the world. In reality there is not a physical transaction going on. For example, say you go to Chase banking and you deposit $100, then you ask for the total amount in your bank account, the clerk will then give you a number and you believe that is what is really in your account. Actually, let’s say the bank goes bankrupt and your money is becomes “lost”, I’m sure the same question from 2008 will surface, “Where did all the money go?” Money is simply something that all of society believes in. There isn’t really much value in a paper with very complex scheme and numbers. Beside the complex schemes and numbers majority of the people do not even know what any of them mean or the purpose to why they’re even there. I’m sure we all believe that all of that is valuable and necessary to have on a bill or coin but the truth is there is nothing special about it and some of the things on there are very irrelevant. Different government from around the world led civilization to believe that money is truly existent and that money only works if people believe. When inflation occurs is when people stop believing or even doubting the worth behind every bill or coin. There would be no purpose for money if there weren’t people who back up the system. People use money without keeping in mind that the money’s worth always changes, just like can be worth a good amount right now it can change and be a bad amount later.

#10

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