Finance Park!

Good Morning and Welcome Back! I hope you had a great weekend ... maybe a little fun, a little work and a little time to relax ... to kick off today, we are going to review a little about what we covered last week before playing a game called "Gotta Have It" which will focus on the pros and cons of using credit cards vs. debit cards. Before that, however, I need you to complete pages 1-6 in the workbook you just picked up :) Thanks and we will get started as a group shortly!

TUESDAY & The Factors of Production

As we know the four factors of production are Land, Labor, Capital and Entrepreneurship. Of those 4 factors, which do you believe is the MOST important in regard to finding success in the business world? In addition to listing the one you believe it most important, please also explain why and give an example if possible! Thanks and we will get started with presentations shortly!


I feel as if Entrepreneurship is the most important because most people come up with different ideas everyday but what makes a product famous and successful is how people make it become famous and make everything matter and have different changes they need to make the product become famous and make people want it.

Life and Debt

For today's blog, and in preparation for watching today's video, please do a quick internet search and define what "Globalization" is.  Based on the definition you find, describe whether you think Globalization is a good thing or bad thing.

Please also take a moment to look up the IMF.  What is the IMF?  What is their overall goal as an organization?

These concepts WILL help you better understand "Life and Debt"

1. Globalization 
   growth to a global or worldwide scale; "the globalization of the communication industry"
   
   
   It can be either good or bad at a time it means new things happen and change it makes the world bigger if we are talking about resources it makes a big difference but also changes how people live there life.
2. The International Monetary Fund (IMF) is an organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. It goal is to make a changed and help our people become a better person as a whole.

Supply and Demand

Today we will be mainly focusing on the Law of Supply and Demand.  To being, please research and write about a product or service that you believe the price will rise or fall significantly over the next several years.  You can look online for a product or service to get ideas if you need and can also look online for a reason why you think this price change will occur.

Again ... the essential question for today is: What is one product or service for which you believe the price will rise or fall AND why do you think this price change will occur?

I believe that the demand will go up if it is like fixing your car or even anything around the house like a heater or the water pump it will always go up just because it might not always happen to everyone clothes in the other hand I feel as if  it might go down more people are getting expensive clothes cheaper north face for example you can get them in north storm rack for cheaper. Now almost anyone can afford them.    

Switching it Up!

What do you think?  Is Wal-Mart Good for America?  Have you ever shopped at a Wal-Mart?  What are some things that are good or even great about Wal-Mart?  What are some things that are bad about Wal-Mart?  Try to develop a thoughtful response and we will get started shortly.


Yes Walmart is good for America it gives people low prices and saves people a lot of money and a lot of Americas shop there which is good they save money I don't really ever go there because I feel as if it has some cheap things that aren't worth getting but school supplies are cheap and good. Walmart has almost all the products they have pet stuff house clothes baby shoes iPads phones which is good the only bad thing is when you work there they don't give full time benefits which isn't right but if you choices to work there that is your problem over all it is a good store I guess

Returning from A Long Weekend

"About 70 percent of the Earth’s surface is covered in water, and technology is almost as pervasive," said OtterBox CEO Brian Thomas. "We take our smartphones with us everywhere, and OtterBox is dedicated to making these activities as worry-free as possible. The Preserver Series is dependable, seriously waterproof protection that you can trust."

The two-piece case snaps together for easy installation. It boasts a solid plastic frame lined with device-cradling foam and overmolded bumpers to absorb and deflect shock away from the device inside. The built-in screen protector guards the vibrant display from scratches without inhibiting touch sensitivity.

Otterbox cases are running different company and they are trying to make new cases like the waterproof case that they are trying to copy they are both very expensive. Otterbox is cheaper then the waterproof case but the otter case looks cheaper well at least that's what I have noticed. 

Is Wal Mart Good For America ... Continued

Today we will be finishing up the documentary about WalMart and whether or not it is good for America.  Last Friday, with little or no background you discussed some of the things you liked and disliked about Wal-Mart and whether you thought they were good or bad for America.  Having watched the first half of the documentary, what would you say are Wal-Mart's best and worst practices?  In other words, what are some things that they do that are good and what are some decisions they make that are bad?  Feel free to address the following:

• their control over the market/manufacturing
• prices matter most to WalMart
• WalMart driving down the price of goods
• WalMart rejecting Rubbermaids price increase
• High Road vs. Low Road of Competitiveness
• High Margin Items
• Opening Price Point Practices
• Etc.

The best things that Walmart does is have good deals on some certain things. It's sometimes way cheaper then Costco. They know how to run there products and marking problem 

The bad things are that the products look cheap and look as if they aren't going to last. They don't give there customers rights don't give them benefits which I feel isn't fair  for someone if they have worked there for a long time. It focus other companies to lower there product other business get out of business and etc

Productive Resources & Entrepreneurship

1. You have learned about the factors of production or the resources needed to produce goods and services. List all the major resources that the Strauss brothers needed to make jeans.

Land:  refers to natural resources that exist without human interventions

Labor:  work people do it's also called human resources

Capital: another factor is capital the manufactured good used to make other goods and produce other services

Entrepreneurship: refers to the ability of individuals to start new businesses introduce new products and processes and improve management techniques.  

2. All resources fall under 1 of 4 categories. Land: Natural Resources to make a product. Labor: Workers. Capital: includes tools, buildings, and equipment. Entrepreneurship: the ability to combine the other 3 resources to make or improve a product or service. List each resource as Land, Labor or Capital. 

  

You would need to find places where it wouldn't be more expensive to get what you want you will need to have to go somewhere local a place it wouldn't sell that much so that you can make a prof eft in Whatever product

.   3.Did the Strauss brothers possess entrepreneurship? Explain.

Yes because the main brother had other ideas and he wanted to sell but in the end he done something more useful that still sell a lot now in days he is an entrepreneurship he found a good idea that he can follow 

Factors of Production

Good Morning - Today you have one 50 minute class period to prepare for your upcoming Factors of Production presentation. To ensure we make the most of this period, please highlight what product/company you have chosen to investigate. In addition, through todays research please also highlight 3 interesting facts you learned and how they are applicable to the land, labor, capital or entrepreneurship aspect of the product/company! Thanks and lets make today as productive as possible!


My product is otter box cases

Starting with something as simple as a box, OtterBox was created in 1998 and built upon fundamentals of hard work, creativity and perseverance. Our cases are dedicated to all the klutzy, spontaneous, chaotic, graceless individuals who have broken a device or valuable due to their active lifestyle and like our customers, we've been there too!

Richardson soon found himself in Fort Collins, Colo. on scholarship at the Earl C. Martin Academy of Industrial Science, but it wasn’t quite what he was looking for so at age 18, he started an apprenticeship at a local molding company. By 21, he had bought Genie Plastic Tooling and in 1981 he started Richardson Tool and Mold. Other ventures sprung up including Richardson Finch Manufacturing and Richardson International, where he imported molds from Taiwan, Hong Kong and Poland for Mattel®, Display Technology and other US companies. When the international excursion ended, Richardson went back to the basics…his garage. Associated Tooling Concepts was created and soon Richardson was approached by the Wilkerson Corporation to form Associated Molding. Compiling all this industry experience, Richardson created the first prototype of a waterproof case in his garage in the early 90’s and in 1998, OtterBox was born.

Personal Finance Unit 1 - Financial Institutions

1. I track how I spend my money regularly. 1
2. I use a personal budget to plan how I spend money. 1
3. I talk to my parents or guardians about my financial goals. 1
4. Before making a purchase, I ask myself if this is a need or want. 3
5. I save money for my future needs and wants. 1
6. I set personal financial goals for myself. 4

When I have a job Ernesto and I are going to have a budget well he already saves his money and tracks everything with all the money he gets which I will do the same once I get my job we will both then have a saving account for our future a house. Other things we spend money on is maxx and kodis food and vet vists  also gas are the most important other then that we try not to spend money on things that are not nessary.  

Factors of Production!!

Land:  refers to natural resources that exist without human interventions

Labor:  work people do it's also called human resources

Capital: another factor is capital the manufactured good used to make other goods and produce other services

Entrepreneurship: refers to the ability of individuals to start new businesses introduce new products and processes and improve management techniques.  


Shoes clothes balls

Needs vs. Wants

1.  To kick off the day, brainstorm a list of common needs and wants such as food items, clothing, or entertainment expenses.  Next to each item on your list, note which ones you would classify as needs and which ones you would classify as wants! 

Need:
House
Food
House appliance 
Clothes 
Shoes 
Car
Dog supplies (food vet bill money etc)


Want:
Puppies
Starbucks
Candy
Chips
Phone
Money
Kittens
Purse
Wallet
2.  Why are people affected by scarcity regardless of their income?  Would you agree with the statement that there is no such thing as a free lunch?

Everyone is affected by scarcity because people are always going to want things things we don't really need but want like for example I have a phone and a laptop but I want a new iPad I don't need it but I want it. Food is never free we always have to pay or do something to earn it. 

3.  Take a moment to identify the factors of production for a t-shirt business.  In a  small group, discuss the land, labor, capital and entrepreneurship that would be required to establish a business that designs and sells t-shirts. Be as thorough as possible as you develop this list.  Each individual will need to write a brief summary highlighting the factors of production needed to start this business.

We need Cotten to make the shirt oversea picking up the Cotten it has to be shipped. Capital sowing machine trucks cars transportation person to marketing it and selling it. Land is using natural resources not created by people. Labor includes people working manual labor or performing services capital manufactured goods such as buildings tools and computers used to make others goods. 

4.  Why might businesses in one country seek natural resources or other materials needed for production in other parts of the world?

Business do that to sell the product and get a better product and they want the best product and people want everyone to get it. More affordable to get transported to protect environment and etc.

Welcome Back

 

My break was good I got to spend a lot of time with my family it was resting and chill I was stress free. My highlights were spending time with my boyfriend and maxx and kodi. I spent a lot of time with Ernesto's family and mines last year Ernesto spent most of the holidays with my family so this year was different we spent most of the time with his which was nice and fun. The only reason why I am excited to be back is because I am almost done with HighSchool this should go by fast and I hope so.


No I didn't make a new years resolution I find no point at least for myself. Everyone wants changes in there life I had a good year it made me grow as a person no I'm not perfect but I am growing and learning new things I feel that I have learned some lesson and now realize how I should handle situations in a less childish ways. My one goal is to finish HighSchool strong and go into college ready and motivated I have a lot on my way and I have to be ready and not kill myself just take it one step at a time. I want As and Bs this semester.