12.1 – measuring the nation’s output and income Macroeconomics – part of economics that deals with the economy as a whole and uses aggregate measures of output, income, prices, and employment Gross Domestic Product is one of the most important macro measures that keep track of nation’s production, consumption, saving, and investment. GDP – The…
Unit 6 – Money, Banking, and the Fed Chapter 14.1 – The evolution, functions, and characteristics of money Federal Reserve System (Fed) – private owned, publicly controlled central bank of the united states Federal reserve note – paper currency issued by the Fed in use today The evolution of money Barter economy – moneyless economy…
Section 9.1 – economic impact of taxes When a tax is placed, the good or service raises the cost of production and the price of the product With less products sold, resources has to be cut from a business Can be used to encourage/discourage certain types of activities Sin tax – relatively high tax designed…
Free enterprise capitalism Voluntary exchange Profit motive Economic freedom Private property rights Competition – businesses attract consumers; consumers obtain the best products at lowest prices 7.1 – competition and market structures Laissez-faire – philosophy that government should not interfere with business activities Market structure – nature and degree of competition among firms in the same…
Sole Proprietorships Sole proprietorship – business owned and run by a single person who has the rights to all profits and unlimited liability for all debts of the firm Easiest form of business to start Management is relatively simple Owner can keep the profits without having to share them with other owners Proprietorship does not…
Chapter 4.1 – What is demand? Demand – combination of desire, ability and willingness to buy a product Microeconomics – part of economics that studies small units, such as individuals and firms An introduction to Demand Market economy – economic system in which people and firms make all economic decisions Demand schedule – a table…
Unit 1 – What is economics Chapter 1.1 – scarcity and the science of economics The fundamental economic problems Societies do not have enough productive resources to satisfy everyone’s wants and needs Scarcity – fundamental economic problem of meeting people’s virtually unlimited wants with scarce resources Economics – social science dealing with how people satisfy…
Chapter One Outline Settling the Continent Who are the Indian People? Native people living in the “New World” at the time of its discovery by Europeans. No single physical type characterized all native people. There were over two thousand tribes/groups that all had varying cultures/languages. Once the “New World” was discovered writers proposed theories…
Water has many unique characteristics which make life possible on earth and support it. One of these properties is water’s high specific heat, or water’s ability to resist changing temperatures. In terms of water’s chemical nature this is possible because of the large amount of energy which would be needed to break the hydrogen bonds…
Within the novel, Their Eyes Were Watching God by Zora Neale Hurston, there are several inanimate objects which relate to the development of the main character but also the overall story. These inanimate objects reflect several aspects of the setting and of the time period in general. One of these inanimate objects is the mule…
During the late 1890s the creation of the quantum mechanics and Einstein’s Relativity beckoned a new age in physics: modern physics. The terminology of modern physics refers to any branch of physics, such as nuclear physics or electromagnetism, which was developed in the early twentieth century or older branches that were greatly influenced by twentieth…
The use of electricity is a relatively new discovery when considering the history of mankind. Its use became particularly popular in the experiments conducted by Thomas Edison when he created the first electric light bulb. The light bulb featured the use of a direct current which moved the electrons in one continuous direction. The use…
The extinction of species has been an ongoing cycle since life first formed on Earth. Some species have died out through natural selection, meaning they were unable to adapt quickly enough to the changing environment. Others have been plucked from existence by humanity’s work, whether it be by over-hunting, habitat destruction, or other means. Whatever…
Sleep paralysis is the feeling of being paralyzed despite of being conscious and aware of the things that are happening around you. In addition, while in this state, the person who is experiencing this will not be able to move nor speak. Dating back to the 10th century, sleep paralysis was believed to be caused…
Nathaniel Hawthorne Believed that evil was a dominant force in the world—his work is dark, gloomy and pessimistic. Born in Salem, Mass., descended from a prominent Puritan family. One ancestor was a judge at the Salem Witch Trials, another was known for his persecution of Quakers. For twelve years secluded himself in his mother’s house…
A novel in which a character grows is ‘To Kill a Mockingbird’, by Harper Lee. This novel is about the story of a Southern American family, living in a small county in the 1930’s, from the perspective of a young girl called Scout Finch. At this specific point in time, racism was at its peak…
In ”Pygmalion”, Henry Higgins is Shaw’s Pygmalion and Eliza Doolittle is his Galatea. Henry Higgins teaches Eliza how to speak proper English and shapes her to fit into the middle-class morality from a ”guttersnipe” just as Pygmalion creates a beautiful statue from an ugly piece of rock. While the transformation of Eliza is in process…
Genetic Privacy laws exists to prevent the abuse of genetic information. It is understood that these laws were created specifically to prohibit health insurance companies, employers and housing agencies from using genetic data to discriminate against citizens. Genetic discrimination can be described as the unfair treatment of individuals by employers/insurance companies based on gene mutations…
Titles influenced by Shakespeare. There are a number of books, novels and collections whose titles were directly taken from some of Shakespeare’s lines from his plays or poems. Islam (2010), a Bangladeshi author, wrote an article about works titles by being influenced by Shakespeare. He has identified some writers like Charles Dickens, Thomas Hardy, Somerset…
As a novel that explores numerous complex themes. A Lesson Before Dying teaches that never give up even under a brutal system of racism, which is shown through the character of Jefferson, Grant and Miss Emma. Jefferson, a black man who is falsely accused of murder, is compared by his defense attorney to a hog…