9/24/15:
This week you have learned about the economic measurements that calculate how well the economy is doing, such as GDP, GDP per capita, and labor productivity. In this weeks blog, please answer the following questions:
1. Why is it important to find out if prices are changing from one month to the next or one year to the next?
2. During times of inflation when prices of goods and services are increasing more rapidly than our wages, does this effect your spending habits? Please answer yes or no, and why.
Please answer in at least 2-3 complete sentences, correct spelling and grammar.
1. The reason for knowing the changes in prices from month to month is so you can plan accordingly so you do not get hit by high prices without any preparation.
ReplyDelete2. During inflation your spending habits drastically change due to not making as much money to keep up with the rise of prices for the things you want.
1. Its important because you can find out if the GDP of on object is going up or down judging off of what its like month to month or year to year.
ReplyDelete2.yes i believe it does because if you dont have money you wont be able to buy the same stuff you usually do. you will have to maybe buy a cheaper kind or just dont buy it at all.
Watch spelling and grammar
DeleteSo you know when its chipper to buy it so you can save money. yes because it may save you money or it may cost more money.
ReplyDeleteWatch spelling and grammar
Delete1. It is important to know changing price ranges so you can plan your spending accordingly.
ReplyDelete2. When prices increase more rapidly than wages, this most certainly affects our spending habits. Soon, with such rapid inflation, you won't be able to afford anything you want/need.
It is important to find out prices are changing from one month to the next or one year to the next because without keeping track of it constantly,the GDP can drop anytime and it is important for the government to know when
ReplyDeleteThis definitely affects our spending habits because the prices of goods are going up but the hourly pay is not so people are not going to afford the items they need and eventually they will eventually go into sever debt. +
1.So the consumer could know if the prices have inflated or deflated.2.It would effect your spending habits, because if the prices went up in something that was very essential to your daily lives then the luxuries would need to be cut back or cut off.
ReplyDeleteyou will be able to know because the changing of the prices
ReplyDeleteyes because if the things we want or need cost to much then we are more likely to not to pay for it
Watch spelling and grammar
Delete1. It is important to know if the prices are changing from one month to the next of one year to the next because in the near future the prices will increase by a lot.
ReplyDelete2.During inflation, people will not be buying as much as usual because they do not have to money for it.
It is important to figure out how the prices are changing so that you can keep track of what you will be able to afford and not afford in the future. During inflation, a lot of people can not afford what they usually are able to because prices are exceeding their annual income.
ReplyDelete1.) its important to know the price changes so you can be able to determine your spending habits and keep up with the economy.
ReplyDelete2.)Yes it does affect our spending habits because you wont be able to buy the certain things you you need or want. Also because it effects your budget.
It is important to find out if prices are changing, whether is be month to month or year to year, so you can be prepared so that if the prices do change again, it will not get you as bad as it would if you didn't know. Inflation of goods and services do affect your spending habits. You will spend your money more wisely and try to get the best for what you are paying for.
ReplyDeleteIt is important so you can save money or you could watch the progress of your business. Yes that would effect spending because you could either spend more money or you could save money.
ReplyDelete1. the changes of prices, month to month is important so you cam be ahead of your schedule and know when the prices are getting ready to increase.
ReplyDelete2. inflation causes you to spend a lot of money, change due to making more money then what you already have made.
Watch spelling and grammar
Delete1. It's important to find out what prices are changing because you would want to keep track of what you can afford and what you can't afford.
ReplyDelete2.Yes inflation effects your spending habits. The reason why is because you're not making as much money to stay with the increase of prices of goods and services.
1. It is important to know price changes because price change effects you as a worker, consumer, and citizen. It also has an effect on the economy and could be a reliable tool to see what stage your country is in the business cycle.
ReplyDelete2. Yes a time of inflation would effect my spending habit because when prices are higher than my wage as a worker i won't spend a lot of money because things would be to expensive.
1. It's important to know price changes because it affects you, and everyone else. It can interfere with your job, and mess with your money.
ReplyDelete2. Yes it would effect my spending habits. It would make me not want to buy things because it would be too expensive.
It is important to find out prices are changing from one month to the next or one year to the next because without keeping track of it constantly,the GDP can drop anytime and it is important for the government to know when
ReplyDeleteThis definitely affects our spending habits because the prices of goods are going up but the hourly pay is not so people are not going to afford the items they need and eventually they will eventually go into sever debt. +
1. It is important to know the price changes because it could heavily effect you and you would not be able to afford much.
ReplyDelete2.During inflation, not everyone is going to be able to afford things they could before because prices will shoot sky high.