IMF

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.

Tuesday

I couldn't really find anything about big business decisions but I found an interesting fact about the staedtler eraser. The staedtler eraser is one of the best erasers in the world! I personally use this eraser and I love how it works. I never knew that they also have pencils of this brand. That's something I will have to test out one of these days.

Happy Friday !

Some of Walmarts good decisions are having the product prices low. This makes it good for the customers because we save a lot of money. 

Some bad decisions that Walmart has is that they drop a company if they don't agree with Walmarts prices. 

Levi Strauss

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

1. The major resource was canvas. 

2. Land:Canvas, labor: sewers, cutters capital: scissors, needles, sewing machines , snaps.

3. Yes they did because they started with a small idea then they made it into a billion dollar company. Their company still exists. He had a simple idea. The main thing was that he was able to adjust to a new product.

1/14/14

This website shows gives me a lot of information about the production of an eraser. 

http://www.madehow.com/Volume-5/Eraser.html

The first eraser was pieces of bread.

Financial

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

From now on one of my New Years resolution was to not spend money on things I don't need. Also I want to save money for my future plans which is to make a beauty salon in Mexico. I plan on spending money on things I need.

Happy Thursday!!

The four factors of production are land,labor, capital, and entrepreneurship. Land means having a natural resources. Labor includes any work people to produce goods and or services. Capital includes machines needed to make the products, buildings and tools. Entrepreneurship is the ability of individuals to start a new business.

Common needs

1

Phone 

Music

Money water job house

Juice

Car

Stereo

V 

2

People are scared of scarcity Because at some point you have to make a decision about their time.

I do agree with the statement that there's no such thing as a free lunch because they want something from you at the end of the day and you have to waste your time .

3

There has to be a land that is being sold. You need money to buy the land.

The labor you need to have 

Welcome back

My winter vacation was by far the best vacation I've ever had. I was in Mexico for almost a month and it was the best. My little sister had her quinceañera and we spent Christmas and New Years there. To be honest I'm not happy to be back. I miss Mexico a lot. It made me feel more independent and responsible because a woman's life style there is completely different then a woman's lifestyle here in the u.s.a. 

I told everyone I only had one New Years resolution which was to be healthy and graduate high school. I plan on studying hard and making sure I get through school. I want to graduate having good grades. Lastly I want to show that I appreciate everyone's presence around me.