Basic Economics with Tar - 987 Words

First of all, before I will discuss this article, I will define first what is Economics and its kinds. Economics is the study of how the forces of supply and demand allocate scarce resources. Subdivided into microeconomics, which examines the behavior of firms, consumers and the role of government; and macroeconomics, which looks at inflation, unemployment, industrial production, and the role of government. In this news paper article, it talks about the condition of the consumer with the inflation of the price of the food or goods. We as consumers, we are unique in many ways. We differ in our needs, wants and demands even in likes, dislikes, standards, lifestyles and traditions. Sometimes, our behavior as a consumer is hard to identify†¦show more content†¦Over time, as the cost of goods and services increase, the value of a dollar is going to fall because a person wont be able to purchase as much with that dollar as he/she previously could. While the annual rate of inflatio n has fluctuated greatly over the last half century, ranging from nearly zero inflation to 23% inflation, the Fed actively tries to maintain a specific rate of inflation, which is usually 2-3% but can vary depending on circumstances. Opposite of deflation. Food is one of the basic needs of man. It is a necessary need for it will satisfy our hunger. Necessary needs is defined as natural or unlearned needs or requirements determined by factors innate to a person or his or her environment, such as for food, security, shelter, etc. it is being discuss further in Maslows hierarchy of needs. Accordingly, motivation theory which suggests five interdependent levels of basic human needs (motivators) that must be satisfied in a strict sequence starting with the lowest level. Physiological needs for survival (to stay alive and reproduce) and security (to feel safe) are the most fundamental and most pressing needs. They are followed by social needs (for love and belonging) and self-esteem needs (to feel worthy, respected, and haveShow MoreRelatedThe Exploitation Of Earth s Natural Resources1504 Words   |  7 Pagesimportantly fossil fuels. However oil is the only resource whose extraction and usage single handedly ruins the environment. With the increasing demands of our growing population, the world now needs energy more than ever and Canada needs its tar sands. Canada’s tar sand was once acclaimed by Eric Newell who spearheaded the formation of the National Oil Sands Task Force in 1995 as a resource worthy of investment (Gillespie). However, in the present times, it has become one of the biggest insults to sustainabilityRead MoreEconomic Benefits Of The Alberta Tar Sands Outweigh The Environmental Costs942 Words   |  4 PagesDo the economic benefits of the Alberta tar sands outweigh the environmental costs? World needs energy and Alberta need the oil sands to strengthen the economy. 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For example, inflation, low cotton prices and economic strains shown to have influenced the higher rate of lynching frequencies. White supremacists bore the responsibility of all the lynching related to African Americans. White supremacists were a part of a pure AmericanizationRead MoreWeek 3 Assignment, Chapter 7 - 91137 Words   |  5 Pagesbreak the female mother, she will break the offspring in its early years for you. In order to make the males compliant they would, take the meanest, restless slave and unclothe him in front of the others, female, male and infants. Next, they would tar and feather him. After this, tie each leg to a different horse in opposite directions, set him on fire and beat both horses to pull him apart in front of the remaining slaves. Lastly, take the bullwhip and beat the remaining male in front of the othersRead MoreTobacco Regulation Act Of 20031309 Words   |  6 Pagestowards the poor and vulnerable population. Two, still in the national level, the government also deliberately accused cigarette companies of its misleading product labeling. For instance, labeling a pack of cigarette with misleading words like â€Å"low tar,† â€Å"light,† or â€Å"mild†. Altogether, the government requires cigarette packs showing health warnings and graphic pictures showing deadly effects of smoking. In the local level, from where I resided, Davao City, Philippines passed a strict ordinance banningRead MoreFinding out a Bit about Sweden797 Words   |  3 PagesSweden Since I am interested in Sweden, I decided to find out a little about. One of the first thing I would find out is some basic information about the country. Another thing I would like to find out is what has happen in Sweden’s history. Furthermore, it would also be interesting to learn about the country’s current leader. Information about the capital city is another thing that I want to discover about Sweden. 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