TUESDAY & The Factors of Production

Land is the most important factor production because if we don't have land we have no natural resource nor the building to do work in.

Life and Debt

Globalization : growth to a global or worldwide scale; "the globalization of the communication industry"

I think it is a good thing because growth is always a positive when it come to the economy. More is always better then less, so if something globalizes it make its easier to get for everyone. 

IMF : International Monetary Fund , an organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

Returning from A Long Weekend

http://www.snopes.com/food/warnings/takis.asp

http://www.barcel-usa.com/we_are_barcel.html

Is Wal Mart Good For America ... Continued!

Walmart's best practices is being able to sell things cheaper than other stores and are providing us with numerous products. America loves things that are cheap but very good quality and we support what Walmart does each and everyday. There worst practice is abusing production companies and hardly paying anything for materials and products. They call the shots and really take people for granted and that is wrong. They control the marketing and manufactures, and are left but to follow Walmart because then they will lose money as well. Walmart put Rubbermaid out b/c they stud up and refused to lower prices and Walmart didn't like that so they tried there best to ruin them and soon they went out of business. Walmart is so powerful it can do that to the manufacture. It has it's good and bad. I feel like Walmart is gonna get out of hand if things keep going the way they do. Someone will stand up to Walmart and a change will come.

Productive Resources & Entrepreneurship

1. You have learned about the factors of production or the resources needed to produce goods and services. List all the major resources that the Strauss brothers needed to make jeans. Sewing machines scissors needles canvas, etc. 
2. All resources fall under 1 of 4 categories. Land: Natural Resources to make a product. Labor: Workers. Capital: includes tools, buildings, and equipment. Entrepreneurship: the ability to combine the other 3 resources to make or improve a product or service. List each resource as Land, Labor or Capital. Land: canvas Labor: Worker who cut and sew the jeans. Capital: sewing machines, thread, snaps, sciccors, needles, building purchased. Entrepreneurship: went to SF with an idea to sell something and saw that people needed more sturdy pants for work. 
3. Did the Strauss brothers possess entrepreneurship? Explain. Entrepreneurship: went to SF with an idea to sell something and saw that people needed more sturdy pants for work. 

Personal Finance Unit 1 - Financial Institutions

I have chosen to investigate the product, that most women use on a daily basis or important occasion to enhance their look. Fake eyelashes made out of plastic.

The improper attachment of fake lashes can damage the natural lashes. The extra pressure caused by the false lashes can also cause damage to the hair follicles, stopping eyelash growth temporarily or permanently.

http://www.eyelashes.7p.com/how%20to%20make%20false%20eyelashes.htm

This is how there made! Labor. 

A number of people have been credited with the invention of false eyelashes including D. W. Griffith (1916), George Westmore (1917), Max Factor (1919) and Karl ‘Charles’ Nessler (1921). However, we have to look back a lot earlier than this to discover their origins. Entrepreneurs. 

http://www.cosmeticsandskin.com/cdc/false-eyelashes.php

Personal Finance Unit 1 - Financial Institutions

1. I track how I spend my money regularly. 2
2. I use a personal budget to plan how I spend money.  1
3. I talk to my parents or guardians about my financial goals.  1
4. Before making a purchase, I ask myself if this is a need or want.  3-4
5. I save money for my future needs and wants.  4
6. I set personal financial goals for myself. 1

I want a purse that is really expensive it's almost $300 and both purses that I want are the same price, juicy couture and Michael Kors. I don't need a purse so expensive but I do need a purse to to carry all of my personal things that I need with me. So far I don't have any future financial goals set. Maybe save money for my winterformal  and prom dress as well as a pair of shoes and ticket prices. 

Factors of Production!!!

Land: all natural resources on earth without our doing, earns rent.
Labor: human effort to produce good service, earns wages.
Capital: machinery/tools/trucks/shipping/human capital that are used to create production, earns interest.
Entrepreneur: the person who takes risk to create product, funds the project, earns profit.

Needs vs. Wants

1) Needs:
Sweaters, shoes, clothing, food, contact solution and case, phone, underwear, glasses, body wash, soap, deodorant,

Want:
A lot of UGG boots, fancy clothing, make up, perfumes, new cell phones (latest), brand shoes, electronics (games like Xbox), jewelry, big TVs, Internet.

2) People are affected by scarcity regardless of their income because no one in the world can have unlimited time. 
Would you agree with the statement that there is no such thing as a free lunch? Yes, I do because nothing in life is free it comes with a price. Everything is always bought by someone, it may be free to you but it was purchased to be given to you. 

3) Land: Cotton mills, building to work in and material to make the shirts out of.
    Labor: people who run the sewing machines, designers, maintenance crew to keep machines running, crew that helps load and ship shirts.
    Capital: machines to pick cotton, make shirts, and load products, trucks, etc.
    Entrepreneur: people with the plan to create a new business and keep it going. 

4) Companies seek natural resources in other parts of the world because the resources could be better quality and can get material at a cheaper price. 

Welcome Back !!!

My break was pretty good :) I spent time with my best friend, family, and boyfriend. I had sleepovers, went to Tahoe with family, and partied with family and friends. Overall you can say my break was nice. The highlight was my family met my boyfriend and we spent time together. I'm happy to get back to school so I can fix myself back into shape for college and also graduate.

This year I didn't make any resolutions like I do every year. I never keep them, so I though about not making any and letting things that I accomplish be my resolutions. Things that I achieve in my daily life as well as my educational career. I plan to do many things but I don't want to jinks them :) hopefully I have a lot in store for me in this new year. I can't wait to be done with high school and go to a university. I need changed in my life.