Putting A Human Face On Economics

519 words - 2 pages

Putting a Human Face Economics 1. The laws of supply and demand say that when many consumers want something someone will produce it too make money. They do assume that people will act rationally. Most of the time people do not act rationally and companies either have a surplus or a deficit. Equilibrium is rarely reached.2. The first goal of an economic system is to make money. This is so you don't go into a depression or recession. You also want your system to grow. Growth increases moral, strength, power, and money.3. No, I do not think that I follow the rules of the economic theory all the time. This is because sometimes it is more convenient to pay more money then to have to go out of your way to get a cheaper one. An example is when I bought a shirt at the mall for $25.00 when I could have bought it at an outlet for $20.00 because I was at the mall and it was more convenient.Too Much Corporate Power 1. I think that corporations in America have a very large amount of power and influence on our citizens but also on worldwide economy. Mega stores and large chains of businesses, such as shop-rite, are popping up all over in this country. If they are popular, more branches are built and a monopoly starts to form because all other business goes down.2. Yes, the power of corporations should be limited. Soon, the product or service becomes used a lot and more people start buying it. This feeds the corporate power. If a monopoly...

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