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What Are Trade-Offs That People Face

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1. What are some of the financial decisions that people face? What are trade-offs? What are some of the trade-offs that you may face? People face many financial decisions they could face financial decisions regarding education, what kind of car they have, what kind of house they buy, or even which brand of food that they buy. Trade-offs occur when constraints such as budget or time force us to give up one thing in order to get something else. I may face trade-offs when it comes to college education, if they want to go to a school far away and spend more or it they want to go to a school close to home and spend less. I may also face trade-offs when it comes to sports and theatre. If I’m able to do both or if I may have to give one up to do something else. …show more content…

Why do governments intercede in the market? Governments intercede with the market because they want education and many other thing accessible to every person. Better education systems will help students as they become adults because they will make more informed decision about their career, politics, and cars or houses. These all help our government improve, because they are voting and paying taxes to support the government. 8. What explains the difference between richer and poorer countries? How does a government promote this? Countries that are still in the process of developing are generally poorer and their workers make much less than minimum wage. Countries that are developed like the US are richer and they have programs to help the less fortunate to lessen the amount of people in poverty. Income in developed countries determines the standard of living. 9. Why do prices rise when the government prints too much money? The price will raise when a government prints too much money, because the money loses some its value. To make up this loss of money the government or even businesses will raise prices. This is called inflation in the economic world. 10. How does the economy affect your personal

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Additionally, Murray claims that money isn't the only important aspect to consider when deciding to go to college, but that "the topic is no longer money but job satisfaction" (Murray 248). Murray discusses how money

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The first decision in life that makes us challenge ourselves is going to college. This is a hard process to deal with in life because it involves a lot of money. It causes a lot of frustration because you not only deal with school but also with family problems. For example, I had to decide between going to college or work at one of the fancy Hair Salons. To work at Kenneth's or Charles Penzone Hair Salon you need to work full time and that was going to be my only career.

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1. Introduction Income inequality has grown significantly during this past decades and this phenomenon continues to increase over the years. This problem is constantly discussed in the daily news all around the world. Several consequences of this increase of inequality between people leads to economic problems such as high unemployment rates, lack of work for young people, fall of demand for certain product. The gap between rich and poor is increasing, the rich are richer and the poor are poorer as a result politicians and economists try to adopt certain policies in order to reduce this gap.

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