https://padlet.com/james_heyes/iaapxfxb2ljv Created by: James Critch-Heyes - Insights into Economics 2017 en-us 2017-03-22 20:36:15 UTC 2024-05-17 18:11:55 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Templeball.png james_heyes https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161970552 While searching for articles online to demonstrate Macro economics I stumbled upon this. As we know Inflation play a role within this scope of Economics and is what helps consumers predict when prices will raise and fall. I believe this information is shocking due to the fact that the overall Canadian Inflation rate will almost rise by 1% by 2020. Another Interesting attribute about this source is it provides and extensive list including other specific contributors and stats to Macroeconomics such as GDP, Consumer Price Index,and Import/Export Prices.]]> 2017-03-22 20:55:57 UTC https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161970552 james_heyes https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161973487 As broadcasting technology moves forward, the world grows accordingly. As Bell media begins to acknowledge
pressure from other media outlets from other countries they begin to downsize their labour force (Structural Unemployment). This is important because it provides us with a clear and concise example of unemployment within our own community. We can relate to these individuals because these jobs are being taken away from our local labour force, this being Mirco, and Bell competing with other Media Broadcasters in other countries, being Macro.]]> 2017-03-22 21:15:59 UTC https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161973487 james_heyes https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161978229 Microeconomics studies consumer behaviour and how we as individuals interact with one another. This link is about how chewing gum can alter a consumers decisions.This study was conducted by students at the Ted Rogers School of Retail Management at Ryerson University and illustrates how chewing gum increases brain activity, influencing shoppers to think about their purchases and how wisely they spend their money. Spending less money will effect our Economy in the long run, we must all contribute and purchase goods/services to succeed.]]> 2017-03-22 21:41:35 UTC https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161978229 james_heyes https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161980275 When the average person thinks about Economics, they think large scale typically. Asking themselves questions like "How does this apply to me?". Although this video may be a tad childish, it assists a younger consumer understand Macroeconomics as a whole without them even noticing. More Producers should incorporate these concepts in creative ways to familiarize children with a bigger picture. Trade off value can be applied to everyday life and help children understand how important time management is at a young age.]]> 2017-03-22 21:56:28 UTC https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161980275 james_heyes https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161991366 Every Entrepreneur faces economic risks, Canadians especially. With the Canadian dollar being worth less than the US, it makes it very difficult to produce goods and services within Canada. In order to create products it requires to much money to import goods to start production. With a weak demand from competing countries for our goods and services it leads to a higher unemployment rate. Without any producers willing to pay labourer fair wages, it drives the unemployment rate up. This is why it is important to support local brands and businesses. These Entrepreneurs are the ones generating income within Canada.]]> 2017-03-22 23:38:49 UTC https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161991366 james_heyes https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161991564 The intent of this Padlet is to discuss and explore the the similarities and differences between Macro and Micro Economics. A thought to take away from this page is that all economics are not Macro, the individual choice we make on a daily basis make a difference and without small contributions made by everyone, it makes it difficult for our Nation to succeed. Topics that will be discussed range from GDP to Scarcity and Opportunity Cost, I hope you enjoy and expand your knowledge about our economy.]]> 2017-03-22 23:41:00 UTC https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161991564 james_heyes https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161996158 We often complain about high prices as consumers, but how can we change these prices and take control? While looking goods and services they are 3 common types of prices.
1. A Good Price
-We consider these good deals and products and services being offered at an unbeatable price. The consumer usually dictates the price when inflation rates reach too high.
2. A Ridiculous Price
-Items that only consumers with a high disposable income can "afford". (Inflation)
3. An Expensive Necessity
-Items such as gasoline and certain food products that no matter the price, we need to buy in order to live.

]]> 2017-03-23 00:31:27 UTC https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161996158 james_heyes https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161997955 This is a perfect metaphor for Microeconomics vs. Macroeconomics because micro focuses upon each individual tree as its own, and macro observes the entire forest. Each scope is applied differently to concepts and differs upon the subject.]]> 2017-03-23 00:50:25 UTC https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161997955 james_heyes https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161999272 Loans are an interesting concept within economics and can be applied to both Macro and Micro economics. The consumer being the individual, depends on a larger source for money in order to grow. But, the bank relies on money provided by the consumer to spread around to other customers. If every consumer demanded all of their money back, the bank would be speechless because their cold hard cash has been distributed to multiple clients and created a "paper trail" or "balance".]]> 2017-03-23 01:02:41 UTC https://padlet.com/james_heyes/iaapxfxb2ljv/wish/161999272 james_heyes https://padlet.com/james_heyes/iaapxfxb2ljv/wish/162000645 Without a Macro scope and rules in place, small independent companies would not be able to grow and prosper because within a free market prices are unrestricted and governed by privately owned companies. This is important because competitors can continually undercut the lowest price until the monopoly brands could only produce. With less profit margins, local business owners get "eaten up" by larger corporations.]]> 2017-03-23 01:14:56 UTC https://padlet.com/james_heyes/iaapxfxb2ljv/wish/162000645 james_heyes https://padlet.com/james_heyes/iaapxfxb2ljv/wish/162005687 Questions 1-3.]]> 2017-03-23 02:02:43 UTC https://padlet.com/james_heyes/iaapxfxb2ljv/wish/162005687 james_heyes https://padlet.com/james_heyes/iaapxfxb2ljv/wish/162006536 2017-03-23 02:13:03 UTC https://padlet.com/james_heyes/iaapxfxb2ljv/wish/162006536