this week in economic class we covered simple interest and compound interest. we had to learn the formulas to find the two. we were then we where tested on the two. I understand how to find the simple compound but it was hard to comprehend how to find compound interest. we also learned that compound interest is normally better to go with. We also had to pay for two bills  the electric one and chair bill. we also got bigger items to buy , I want to save to buy the advantage on the final I have two hundred twenty dollars but if we have to keep paying bills idk if I will be able to save up for it.

in econ class we had jumped into learning about the personal finance portion of the class. we started learning about budgets. we made a family and where all given amount of money and then had to budget with our wants and expenses. we then where given obsolesces like our highest paying family member losing their job or having a baby in the family to see if this changed our budget. because our family wasn't really buying a lot of our wants we had a lot of money left over and our budget didnt really change. I think this activity helped me realize we need to prioritize the things we want from the things we need so that we dont go into debt.

this week in personal finance we learned about GPD. We also learned about different economy's in other places. This made me realize that we have it really well off in the U.S and that our economy is way better off then a lot of other countries. We watched this video of these college students that was very enlightening but also very sad they went and spent 3 months with people who live on just a dollar a day. I honestly would never be able to do that. I am too attached to my materialistic things. That's why I think that I am excited to do this project that we got assigned though I am only researching one country I think it will be an eye opener to see how a less advanced economic place runs.

this week in econ we learned about market structure. we first learned about perfect competition, we learned however real markets are never perfect. we learned that perfect competition has five characters those consist of, numerous buyers and sellers, standardized product , freedom to enter and exit the markets and they are independent buyers and sellers. we then about what a monopoly is. we did a project and cut out pictures from magazines to learn about the different monopolies which include, natural, government, technology, geographic. we then had a quiz on very thing that we learned. after all of this we started playing a game dealing with stocks. it is really confusing and I have no clue what  I am doing and I think that I lost some money already :/
 

Christina Naab

Econ 

3-120-2014 

i abide by honor code 

this week in Weserville we learned about supply and how it work. We learned about the different effects that effect supply such as the government, import goods ,labor , technology, producer expectations, and number of producers. we learned how to graph the supply and find total coast, marginal coast , total revenue, marginal revenue and profit we worked on a lot of graphs and I feel like that really helped me get a better understanding on the concept. I think and hope i did really well on the quiz. the last update on Weserville was there was a flood (oh no) a lot of the businesses and homes were effected. we are waiting for further results on what happened. 

Christina Naab 

Personal Finance 

3-13 -2014 

I abide by honor code 

The article that I read about is about the Super Bowl pricing. it talks about how the pricing for tickets elastic. The article talks about how if they sell their tickets at to low of a price. they will be losing money instead of gaining money. However that is part of their plan they do this so they have maximum attendance. and they focus on the revenue of the concessions,parking lot and  merchandise. I think that this is a good idea because if you have more people there at the super bowl  you will have more people who will spend money one the less expensive things this will include when they charge for parking, when people buy shirts and foam fingers and at concessions. 

 http://www.forbes.com/sites/prishe/2013/09/19/super-bowl-xlviii-pricing-a-lesson-in-demand-elasticity/  

Christina Naab
Personal finance
3-13-2-2014

In personal finance we were paired up in group. Assigned a project to make advertisements for  the different things that Weservill. so that they would effect the demand in Weservill, we had to incorporate the factors that effect demand. My group decide to touch base on the factor of income and market size we also talked about substitute products. We presented our advertisements to town council. They proceeded to vote on who's advertisement they would use to represent Weserville. The town council picked different groups for each category. Each group was rewarded different prizes, one group earned bathroom passes one earned 5points on their test and the last group earned Weserville cash I enjoyed working on the project. After the projects we learned about inelastic an elastic we had to work on an practice worksheet to help us with our test. We learned how to do a demand curve.