If I choose to live in Wilmington it would be nice weather and at the beach but there would be hurricanes that could damage my possessions, if I decide to live in Cary I would not be at the beach but I would be protected from storm weather such as hurricanes.
How to decide if I should get a job or go to college
My choices are to go and get a job or go to college.
If I get a job I can go ahead and start making money to support myself but I wont get paid as much as if I were to take the time to go to college
I think that I will go to college
I am taking 4 years of my life to off to get my degree
I am happy with my decision because I make a lot more money than I could have without college.
I must decide whether to drive or fly to Florida.
I can either drive my car or take the airplane
If I drive it will probably be cheaper but it will be much longer to get there. Flying will get me there very quickly but is also more expensive.
I think I will fly there
I pay the money and get there in no time.
I am happy with my decision because money was not an issue for me, and I did not have to drive for 12 hours straight.
In a command economy, the resources are owned and controlled by the government.
Saudi Arabia is an example of a command economy
Advantage-You cant really make any mistakes with your resources
Disadvantage- You get no control over your resources
In a market economy, the resources are owned and controlled by the people of the country
Mexico has a market economy
Advantage-You control your own resources
Disadvantage-Everyone might not agree with decisions that are made
Capitalism refers to the private ownership of resources by individual, rather than by government.
The United States is an example of capitalism
Advantage-Freedom of production and consumption
Disadvantage- Individuals could make some wrong decisions and get themselves in debt.
A communist economy includes limited choices and supply of consumer goods.
China has had a communist economy but is now trying to come out of it