Monthly Archives: November 2013

30 days

hardest thing 1. having less money 2. not have having furniture 3.by not having a vehicle 4. phone bill 5.not getting enough money for the bills they made. could of done different 1. save some money up 2. see if … Continue reading

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minimum wage

the highest minimum wage  : Washington, Oregon,Vermont,Nevada,Connecticut,Illinois. By highlighting the need to increase the federal minimum wage in his State of the Union address, President Obama breathed new life into a critically important issue. Wages for U.S.  

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wealth of nations

1. by if you are rich or poor according to the degree in which he can afford to enjoy the necessaries, conveniences, and amusements of human life. 2. labor is related to wealth because you work to be able to … Continue reading

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shortage

1.the price will go up if we have a shortage   2.by how much that grows of that product. it will be low. that would not be a problem  

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living wage

minimum wage- the lowest wage permitted by law or by a special agreement (such as one with a labor union). living wage-a wage that is high enough to maintain a normal standard of living. the difference between the to is that … Continue reading

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chapter 10 section one assessment

1. government intervention and supply 2.it shows equilibrium 3.it shows disequilibrium 4.rent control 5.minimum wage 6. a) it will cause a shortage b)make more profit

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price ceiling/price floor

price ceiling -a maximum price that can legally be charged for a good or service. price floor -the lowest price allowed for certain goods or services. free market equilibrium because of the supply and demand.

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