Gas Prices

With the economy so delicate, any type of stimulant or leakage could have drastic effects as we continue to try and recover from the recession we have undergone. This weekend I was filling up my gas tank and since I drive a Suburban, the gas station is never a fun place to go. As summer quickly approaches, along with college and other expenses I will be hurting the more gas prices rise. Although raised gas prices bring more money into the economy, this may not be helpful to society as a whole. Since Arlington is so large, a car is definitely a necessity just for me to get to work and make money. However, if I put all my money that I make towards my gas, I will not be in a better economic situation. Why do gas prices have to increase by so much? It's actually doing greater harm than good. Also, if I go away to college, I will lose my job and money will dwindle quickly especially if I'm paying 100+ dollars for a full tank of gas. This is probably the number one issue on people's mind and it really needs to be resolved. I really think the economy is getting better but gas prices scare me. High gas prices equals less money to consumers therefore making consumers more restrictive when they do choose to spend money.

Prom dresses in relation to the economy

It's prom dress season and for all the girls, it is one of the most exciting times of the year for shopping! There is a variety of options, colors, designers and many more to choose from. Many girls have already bought or ordered dresses and prom isn't even until April or May. So why all the hype for these designer dresses that range from hundreds to thousands of dollars? After all, it is just one night to dress up and show off a beautiful but expensive purchase. Plus, every year prom dresses seem to get more expensive. However, women seem to run the economy. At least the shopping aspect of things. I've heard a saying once that said, "Without women in the world, money would be useless." Since all these girls are planning to spend millions of dollars overall on dresses, it is a stimulant for the economy and allows us as a society to continue our recovery from the recession. I believe since people are planning on or have already spent several hundreds of dollars on dresses, this shows how our economy is improving and into a recovery phase.

Nothing Bundt Cakes in relation to supply & demand

Nothing Bundt Cakes is becoming a popular cake chain throughout various parts of the United States. With its moist cake and unique concept, it is no surprise consumers enjoy walking into a store and quickly become returning customers.

Supply and demand is an important thing in any business if they want to continue being successful. However, supply and demand is a delicate balance and many factors can affect it. Consumer demand is important because if demand changes it may affect the supply and overall sales negatively. Nothing Bundt Cakes strives to continually develop strong, friendly customer relationships that allows the customer to enjoy walking into any store and enjoying their product, bundt cake. If the economy continues to worsen, Nothing Bundt Cakes could face a loss in consumers and therefore causing a chain of struggling Americans starting with the consumer up through the employees and operators of the corporate offices. Another factor that affects supply and demand greatly is future expectations. Since Nothing Bundt Cakes is a cake shop, they mainly focus around holidays so they can market appropriately and gain spikes in profit around those times. Without demand for these holidays and special occasions, Nothing Bundt Cakes may not survive.

These are only two of the concepts we covered in relation to how supply and demand could be affected. Obviously they are two important factors in any business but these two especially to Nothing Bundt Cakes.

College, College, College

As a senior in high school, college is very important to me and many of my classmates. We seemingly feel as if college is controlling our lives because when we look at the statistics, it really is. Since the economy is so tough right now, it's hard to find a job especially without a college degree. However, college can be a troublesome time for families who cannot afford pricey colleges. Recently, Obama has decided to introduce a plan that helps make college more affordable to students. Now, after discussing equality in class this past week, is it fair that college will become more affordable to other students? After all, America is all about freedom and competition. Why should others have the ability to competitively compete for limited spots in colleges now that they have more funds to do so? There is two ways to look at this. One, coming from the side that supports the funding and then the opposing side that has the ability and means to afford the college without the additional help. What do you believe is fair?

Market Systems In Relation to Children

Recently in school, a teacher told me about an article that he had read about how children wanted discipline and rules. As we talked about market systems in economics this week, I thought that article would be an interesting article to analyze in relation to a market system. Now why in the world would kids want rules? No rules means absolute freedom to do whatever they want much like the market system that Adam Smith heavily supported. But just like the Lord of the Flies example in class, with absolute freedom comes complications and problems that can turn bad very quickly. If kids were given a world without rules, they would have to fend for themselves, make decisions and essentially survive solely by themselves. If the world was a market system, I believe chaos would break lose. We need some type of governmental structure to maintain order or else everyone would be competing with each other without rules or regulations. Life could become dangerously challenging if nobody was required to run businesses, pay employees properly, organize taxes or regulate the economy. The world is a very fragile place and without order, we would simply fall into a cycle of trouble and recklessness just like kids would do without rules.

Opportunity Cost And Paradox Value of Phobias

Phobias are known worldwide as severe fears. Phobias range from more common fears such as fear of death or heights while also focusing on eccentric fears such as fear of clocks or laughter. But really, what could people be sacrificing when living with these absurd fears? When a person develops a phobia, for example telephonophobia which is fear of telephones, he or she is making a choice to give up a normally common aspect of life. This relates to economics because the person factors in an opportunity cost into his or her life. Should I use the telephone or email the person I want to communicate with? Telephones are the opportunity cost because they are the next best thing to the person with the fear of telephones. Also, this person places a paradox value on certain objects. Most people would love if I came up to them and give them a brand new phone of their choosing. However, since this person has a fear of telephones they would place a different value on them than everyone else. Do you have any phobias? What exactly are you giving up and placing value on while living with these fears?