Explain The Three Economic Stances

Three economic stances are neutral, expansionary, and contractionary. Neutral is where the government is balanced out and gains more money. Expansionary is where the government is dishing out more money than they receive from taxes. Contractionary is where the government is gaining collecting more money than they spend.

The four economic resources are land which includes both physical land and natural resources, capital which includes tools and machinery use to make the product, labor which is the physical and mental work of a worker to make the product or do the service, and entrepreneurial which include the people with the skill to run a business.

Three economic stances that a government may have are Neutral-leads to more tax revenue for the government, Expansionary-spends more money than it collects, and contractionary-collects more money than it spends.

The three primary concerns in macroeconomic analysis that I found played a major role in macroeconomics was gross domestic product, inflation and unemployment. All three of these concerns tie together and affect one another. But first let’s start off with inflation. Inflation is referred to as a broad increase in the price among services and goods within an economy over a certain period of time. Inflation has always been a concern for businessmen, policymakers, and investors. When inflation is expected, it can be planed for. Example being businesses will raise prices, so workers will demand higher wages, and then lenders will raise interest rates. You then have unexpected inflation, which is where inflation is higher than expected and tends

would enable them to spend more money. People would be able to buy more cars,

2. Consider an economy in which taxes, planned investment, government spending on goods and services, and net exports are autonomous, but consumption and planned investment change as the interest rate changes. You are given the following information concerning autonomous consumption, the marginal propensity to consume, planned investment, government purchases of goods and services, and net exports:

In the highly materialistic world that we live in, success is generally measured in financial terms. The same is true in politics, where the success of a politician, especially the President, is measured by how well the economy did during his term in office. It is specifically measured by how well they bring down unemployment, grow the economy and fight inflation. Two basic modes of thought on the subject have pervaded public policy since World War II: supply-side and demand-side economics.

Time to rewind back to Economics 101. The beautiful topic of Economics is based on the principal of scarcity: we have a limited amount of time and resources available to us and must make choices of how to allocate what we DO have. In college, this means balancing the 3 S’s: Sleep, Studying and Socializing. Take a look at the following three principles and think about how you can apply them to your own life.

In, The economic way of thinking, by Peter Boettke, Paul Heyne, and David Prychitko, (2014) the authors explain the effects of gouging and price spikes on the economy, specifically focusing on the effects they have on a community during a declared disaster. Gouging and price spikes appall and outrage many people because they often occur at the time of disasters. Prices for items needed the most at that given time are drastically increased. Leaving many people questioning how the government could let the rising prices occur. Especially after what happen during the time of hurricane Katrina in August 2005 when plywood prices had risen even before the storm hit the Gulf Coast. As the prices rose not only in that area of the disaster but all over in other parts of the world as the demand was increased. As a result of past experiences with disaster one poses a question, Should people be upset at how the economy responses to disasters? After reflecting on the economist view point and analyzing the importance’s the market plays this student favors letting the market process for

In modern economics there are two major schools of thought in regards to how the economy should be run; socialism and libertarianism. As with the issue of prohibition in the 1920’s, how our government should interact with our economy has been a polarizing issue in American politics for decades. Both sides carry valid points and support different ideals. I will walk you through a brief history and explanation of libertarianism, highlight a fundamental economist who really developed the ideals behind libertarianism and give the pros and cons. I will then do the same for socialism. I will attempt to share this knowledge with you in as unbiased a way as possible.

The two types of economic analysis are positive analysis and normative analysis. Positive analysis answers the questions “what is?” or “what will be?” and normative analysis answers the question “what ought to be”. A normative analysis is telling someone how it should be and a positive analysis is saying if something happens, what will be the outcome.

Resources (resources) is understood as a business asset and property which can be exploited for economic purposes (Sirmon et al., 2010).

Firstly, let us take a look at tangible resources. Under this category, we have financial resources, organizational resources, physical resources and technological resources.

These resources are the inputs of production: land, labour and capital. He gave importance to four fundamental characters of human existence such as;

In every country there 's a government and economy. Each counties government helps or tries to help recover, stabilize, and grow the economy. First thing we need to look at is economic policy. Economic policy refer to actions the government makes in the economic field. For example the taxation, the government supply, money supply, interest rates, along with the labor market, and national ownership. Inside the economic policy you will find all sorts of things that help make the policy stand on it 's two feet. The three main parts that tie into economic policy are supply-side economics, demand-side economics, and monetary policy. Each of the three economic structures will also help define and show what all the economic policy is and