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.

Christina Naab

Econ / Personal finance 

Mrs. Weser 

2-27-2014 

This week in Weserville we had to figure out how the government was going to pay for the roads that Walmart had asked for. So the Government of Weserville decided to tax the people of Weservill. Some of us where taxed using proportional tax; meaning that they take the same percentage of income form all taxpayers regardless of income level. I think that this is unfair because even though they are paying the same percentage the amount of they are paying is not the same because the more wealthy people have more money they are paying more then the lower class citizens. Then some of the people where taxed using progressive tax this is when the people with a higher income pay a higher percentage rate of taxation then those who make a low- income earners. this is what we have in the United States, because the tax rate increases as income increases. The last group was was taxed based on the regressive tax this takes a larger percentage of income from people with low incomes than they do from people with high incomes. With the regressive tax, the Percentage of income paid in taxes decreases as income increases. I think that the most fair tax structure is the proportional even though they are not paying the same amount of money they are paying the same percentage. The taxes that the citizens pay to the government are used to pay for the public goods these are the goods and services that are provided by the government such as roads, street lights, and education. and that's what went on in Weservill this week Paying a lot of taxes :/ 

This week in personal finance class we started off the week by getting new jobs. you either got a new job for one of the new businesses coming to Weaservill or you could have kept your old job. or unfortunately for some people because of the new jobs coming in lost their old ones. Only to get a new one later in the week. 

Later in the week we were broken up into two groups people who where for a Walmart coming to Weaservill and those opposed to it. We had a town council  meeting to discuss the benefits and downfalls of a Walmart. It was a long back and forth discussion and after doing some negotiating with Walmart the town council voted on bringing in a Walmart to the town of Weaservill. I agree with this decision even though it is getting rid of  the dandy mini mart we are gaining a larger well known store with out people losing their jobs.

Gas shortage after sandy storm

the article I read was the Gas shortage continues in the areas hit by sandy. the article was written by Aaron Smith. The article states how due to the storm only 40% of the 2,944 Gas stations in New Jersey had power and where operating. The gas stations with power had long lines of people trying to get gas for their generators and many people where turned away when the station ran out of gas. police officers where called to maintain order. due to their being no gas the effects of sandy could cost the economy up to 50 billion dollars because of there was a gas shortage the price increased.This has to do with our economy class because we talked about how if the product is scarce it will cost more money to buy I agree with this because if you have less of something more people will want the product.

http://money.cnn.com/2012/11/02/news/economy/gas-shortage-sandy/index.html

popular airports

the article that I read was posted in the Los Angeles times; written by Dan Weikel. In his article he talks about how the air ports suffer from the economy loss because a lot of people travel for vacation but because the economy is declining people are losing money and don't have the money to spend on vacationing because that is a  luxury and not something they really need. The article talks about how the third most popular airport in Los Angeles lost a lot of international passengers also in the economic decline in 2005. i agree that the airports would suffer from an economic struggle because people don't really have to travel unless they travel for work. most traveling however is done when people going on vacations so if they are not making enough money for the things they want then they cant do them.This ties into class with the conversation we had a bout decision making and choosing over things you want and the things you need

http://articles.latimes.com/keyword/economy

christina naab