Tuesday, April 10, 2012

What i did during the break

hey guys, you know those funny moments where you overlook something little and it turns out it could potentially affect something important? Something like saving a post in the drafts and not being able to post it until the deadline? Yeah that just happened.

For the most part of this break I've been trying to get into economics. Now, we all know that next year, Grade 10 will be having economics as a subject. For those people taking economics in college, it will shed a litle light on what you will have to expect.

For those whose first time is hearing it, you definitely have the question "What is economics?'

Economics is the study of how people choose to use resources.

Resources include the time and talent people have available, the land, buildings, equipment, and other tools on hand, and the knowledge of how to combine them to create useful products and services.

Often, people appear to use their resources to improve their well-being. Well-being includes the satisfaction people gain from the products and services they choose to consume, from their time spent in leisure and with family and community as well as in jobs, and the security and services provided by effective governments. Sometimes, however, people appear to use their resources in ways that don't improve their well-being.

In short, economics includes the study of labor, land, and investments, of money, income, and production, and of taxes and government expenditures. Economists seek to measure well-being, to learn how well-being may increase over time, and to evaluate the well-being of the rich and the poor. The most famous book in economics is the Inquiry into the Nature and Causes of The Wealth of Nations written by Adam Smith, and published in 1776 in Scotland.

Although the behavior of individuals is important, economics also addresses the collective behavior of businesses and industries, governments and countries, and the globe as a whole.

Oh, and did I mention that Economics is an effective pre-law? Yup for those attempting to become a lawyer, that is a good course to take.

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