The Trade Offs Faced By Each Of The Following - 1333 Words

Chapter 1 1) Describe some of the trade-offs faced by each of the following: a) A family deciding whether or not to buy a new car needs to take into account their finances. They also need to think about the fact that is there something more important in the near future that they will need the money for and also is their old car a safety hazard. Also the money spent could often be put into savings for emergencies or used for clothing, going on vacation, college education for one’s kids etc. All of these factors need to come into play before making a large-scale decision. b) When a member of Congress decides how much money to spend towards national parks they have to take into account other important expenses which could include the country’s defense, if money is needed for the betterment of our countries roads, social programs, education etc. c) Before opening a new factory a president has to decide whether funds are needed in other or existing projects which may produce profits for the company and also should decide whether the money is needed for operating/administrative expenses, or just to have extra cash on hand etc. d) A professor should consider when deciding on how much to prepare for a class the time spent with family, time for personal activities, research done for subject, also the lesson prepared would be easy for the students to understand etc. e) A recent college graduate deciding whether to go to graduate school would take into account the income theyShow MoreRelatedQuestions On Problems And Applications1473 Words   |  6 Pages Chapter 1 Give three examples of important trade-offs that you face in your life. Some examples of trade-offs that I face in my life are rather I should go to sleep early or adding another hour of studying for a test. Another trade-off was that if I should watch some shows online or study more for the final. The last trade-off is when I could spend my money to go out to eat or I could save my money and eat at home. 5. Why isn t trade among counties like a game with some winners andRead MoreAnalysis Of The Book Founding Brothers 1577 Words   |  7 PagesFounding Brothers Essay 17 Oct 2015 Shaan Sekhon The United States faced many challenges in the years following the revolutionary war. The themes discusses in the â€Å"Founding Brothers† show how difficult it really was to create a perfect union. Ellis shows that many factors went into decisions as theoretically simple as the location of the nations new capitol, to the morality of slave trade. 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It was a place where all the neighborhood children would come together and play whilst their parents were away laboring in the fields. He recalls being taught by his mother how to defend himself. They would practice shooting and throwing