Values-Interests Blog entry

1.) WORK_ Money* Benifits* Successful* Boring* Vacation* Communication * Patience* Helping People* Power* Skills

--->PLAY_ Parties* Fun* Late Nights* Travel* Amusement* Friends* Liesure time*


2.) Exciting- Prosperuos- Secure- Free Time and Fringe Benifits


3.)If i didn't have to work i probably would work only sometimes because, sometimes its not all abut the money when you work it's better if you work for the principle because if your job is about helping helpless people then it would be a rewarding feeling that you have the ability to even help out other people. But in my spare time I would always be around my friends and family, and sometimes by myself for relaxation time because everyone needs time for theirselves.


4.) Work satisfaction from most important to least important:
*RECOGNITION *SECURITY *GROWTH *MONEY *PRESTIGE *INDEPENDENCE
---> The reason why I ranked these words the way I did is because when I like to get recognized for the the things that I do. I would like to be secure so that I know my job is safe, to know that i will have the same job for a long period of time so that i can earn growth in my career. Money is in the middle because it's important but it's not as important as my careers' growth, security, and recognition. I would like to have some prestige but it's not really necessary.

5.) My three letter code was ESI. The three top careers that was suggested to me were Department Head of college or university, Private Investigator, and a Newscaster. Yes I think the SDS was a helpful tool because it taught me things that I didn't even know about myself.

Supply and Demand Curves

1) What is unique about an equilibrium price?

The unique thing about equilibrium is that it automatically adjusts to make the quantity supply and the quantity demand equal.

2) What situation can lead to excess demand?

When the quantity demanded is more than the quantity supplied.

3) How is a price floor different than a price ceiling?
The price floor is the minimum price and the price ceiling is the maximum price set by the government.

4) What are the benefits and drawbacks of rent control?
The benefits of rent control is the it helps some households y cutting their housing cost and the drawback of rent control is that it takes from other households even poor ones.

5) Explain how the equillibrium price and quantity sold of eggs will change in the following cases:

a) An outbreak of food poisoning is linked to eggs.

Then the quantity of the eggs sold would go down and so would the equilibrium price.

b) Scientists breed a new kind of chicken that lays twice the amount of eggs in a week

Both the equilibrium price and the quantity eggs sold would increase.
c) UFC heavyweight champ Brock Lesnar endorses eggs as a great source of protein and attributes his success to eating lots of eggs.

The equilibrium price would be normal but the quantity sold would increase.

Supply Curve

1)The difference between supply and quantity supplied is when there is a change in the price the quantity supplied but the entire curve stays the same which is the supply.
2) The difference betwen 'Supply Curve' and 'Market Supply Curve' is supply curve horizonally obtains to the market supply demand and the market damand curve shows the total quantity supplied varied as the price of the good varies.
3) Three ways a supply can increase is if the customers income rises, if the supply becomes very popular, or if there is nothing else like the product.

Demand Curve

The graphs that I just created is a demand curve it is not a market demand curve beacuse the total amount of a particular good or service demanded in the economy at each price; it is calculated by "adding horizontally" the individual demand curves

Reflection On Demand

Part one: 5 Purchases that I've made is a Gatorade at the soccer game because I was thirsty, A shirt from the mall because i liked it, A necklace because I like hello kitty, a taco from taco bell because I was hungry, and a dress for homecoming because I need one for the dance.
Part two: 10 goods or services that are in great demand is An ipod, touch mobile phones, skinny jeans, high top shoes, hand sanitizer, polo style shirts, the doctors office, social networks, music downloads, wireless PCs. These are all common because they're all very popular and people are excessively buying them right now, or they need the service right now.
Part three:A time in my life where i used the substitution effect was when I was using this stuff called Shine in my hair for when i wear ponytails and it cost $3.75 and it worked just as well as this stuff called Jam but it cost like $2.07 and the jars had the same volume so since the jam was cheaper that's what I started buying.

Lemonade Stand Game

In the Lemonade Stand Game I had a net profit of $6.29 the reason why its was so low was because i kept buying too much ice to where it would melt and i bought too many lemons to were the would spoil.