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Hello again, this week in economics was interesting, with us learning about supply curves, and the flood of Weserville, we even designed off-road 4x4 wheel chairs, but right now I am here to talk to you about. I recently read an article about the further raising of Obama care prices, and all i could think is "after it obviously failed, a long time ago, who is still willing to dump their money in this black hole, and put up with its biggest problem, the fact that it exists?" I kind of like how the website that people are to trust their healthcare for the rest of their lives with doesn't even work, but the ones that take donations for the support of the program work just fine. In economics/personal finance we are taught how to handle money, the laws of money, and how to use our money wisely, I haven't seen America do that in a while. I think this has everything to do with the subject of our class, and I think it is a good example of what not to do. Maybe, also make it harder for people to abuse, people capable of working, living completely off our tax dollars.

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Very recently i saw an article on the internet about how President Obama, very discretely, was trying to get the law changed to so that he may have a third term. This, for me personally, is a nightmare, not just that he would even try something like that, but the fact that he really believes that he is the best thing for America, and that him being in office for a total of 12 years, would actually help all the damage he has done. He would have four more years of major spending and pooling our wealth into other countries, wasting the tax payers money on welfare and trying to support Obama care, which was a miserable failure, and putting more American's out of jobs, and in deep debt. Its about time he started thinking about the greater good, instead of trying to fund his stupid fantasies.
This week in economics we finished our campaign ads which included a tv commercial, radio ad, and a newspaper article. We all presented our ad campaigns to the class, then the town hall committee voted on which ads to take from each group. Overall it was very successful, with all the very well done ads from everyone, we should have no problem getting the word out about our wonderful town of Weserville.
We also started to cover a new topic, the other side of Demand, and that is supply. Supply is the willingness and ability of producers to offer goods and services for sale. And there is one major law of supply, just like the Law of Demand. Producers are willing to sell more of a good or service at a higher price than they are at a lower price, and price and supply have a direct relationship. Just like Demand, supply has schedule's and curves, for both individuals and markets.

This week in our beloved town of Weserville

This week in Weserville we went over demand, the law of demand, and we also went over the variety of charts that can express demand curves and demand schedules. Along with learning about demand, we also learned about the causes of the fluctuation of demand, including income effects, and substitution effects. And therefore the effects of a change in demand, and a change in quantity demanded. Therefore there are 6 things that effect demand itself consumer income, consumer tastes, consumer expectations, market size, substitute goods, and complementary goods. And most importantly about normal and inferior goods. Normal goods are goods that consumers demand more of when income increases. And inferior goods are goods that consumers demand less of when income increases. These are important, because inferior goods will always be needed, and inferior goods are the ones people won't need to buy anymore, or will not want to buy when they get more money, because they can afford better things.

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Sam Wojcik
Mrs. Weser
Economics
2/27/14
I abide by the honor code__SW__.


In Economics this week, we explored a number of new topics. We discussed public transfer payments, and went over government social spending programs. We went over the government's fiscal policy and budget, and how they get all the money they spend, and spend all the money they have (and then some), with taxes. Taxes that can come from businesses, citizens, taxes on sales, and taxes on people's property. These are known as the four tax bases, there are many more ways the government gets its revenue. The two choices the government has to spend money on is mandatory spending, and discretionary spending. The government is required by law to finance mandatory spending, that's all the stuff that is necessary for infrastructure. Discretionary spending is all the stuff that the government doesn't have to spend money on but it is deemed important, like interstate highway systems and transportation systems. We played a game in class where we controlled aspects of government spending and it showed us what our decisions had on the economy by 2035. Most people were able to lower the national debt 4 trillion dollars in only a few years. (Really a few minutes) Just by cutting foreign aid, welfare that people abuse, and other completely unnecessary spending we were able to diminish the national debt significantly with positive effects. If President Obama really cares about this country, why doesn't stop his mission "The Lost Cause", and do whats really necessary for the good of the country?