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Handy Dandy Guide - Economics Project

 

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  #1  
Old April 03, 2009, 07:25 PM
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Lightbulb Handy Dandy Guide - Economics Project
1. People choose.
2. People's choices involve costs.
3. People respond to inventives in predictable ways.
4. People create economic systems that influence individual choices and incentives.
5. People gain when they trade voluntarily.
6. People's choices have consequences that lie in the future.

Project due next Tuesday, worth 40 pts.

simple. I need to illustrate each fact. Check to see if the described are okay and help me if needed :/

Check the ones I did for now.


#1
A person is trying to decide whether to eat sausages or chicken.

#2
The person chose to eat sausages instead of the chicken. He gave up chicken to eat the sausages.

#3
Not decided yet.

#4
~Traditional Economic System~
not decided

~Command Economic System~
not decided

~Market Economic System~
not decided

#5
not decided

#6
not decided
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  #2  
Old April 04, 2009, 05:09 PM
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can someone check the first two and give me some ideas for the other 4??? thanks
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  #3  
Old April 06, 2009, 03:51 PM
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Can someone help me figure out what I can draw for a Traditional Economic System and a Command Economic System? They are the only ones I need to do before I turn the project in tomorrow.
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Old April 06, 2009, 07:40 PM
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I'm sorry Jchen. But I don't understand your homework.

I would like help you but I can't figure me your homework.
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  #5  
Old April 06, 2009, 07:47 PM
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okay do you know what a command economic system is? That's the ONLY one I have to do. I drew a Chinese flag but I don't know what to do next.
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Old April 06, 2009, 08:11 PM
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Quote:
Originally Posted by jchen View Post
okay do you know what a command economic system is? That's the ONLY one I have to do. I drew a Chinese flag but I don't know what to do next.
I don't.

Sorry.
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Old April 06, 2009, 08:35 PM
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@Jessica: how about saying what happens to brands or prices of products when citizens live under a Command Economic System? You could also draw a Cuban Flag.
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Old April 07, 2009, 05:19 AM
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Can I draw a person telling farmers to grow this and not that? :/ and it's due today class starts soon so I might not be able to change it :-(
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Old April 07, 2009, 05:22 AM
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Sorry. Does command economic sistem mean comunismo?

Thanks.
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Old April 07, 2009, 05:23 AM
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yes it could be that it generally means that the government decides everything.
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