Economy and Me

Economy is held accountable for all the services and goods we own (and have sold!).  It starts with production.  Most of these goods were made, or produced in factories.  The making of these things is called production, and everything I use and own went through this process. I’ve also produced things myself, like movies with my friends or a lemonade stand with my brother.  Then comes distribution.  Distribution is when companies sell what they have produced.  Stores impact my life by distributing goods locally, because if there were no stores, I would have to go to where the goods were produced to purchase them, which would make purchasing anything very difficult. Again, I have also tried to sell things, like the previously mentioned lemonade stand, and a failed craft store. After distribution comes consumption. Consumption is the use of goods.  This makes me a consumer because I consume everything I own, like books, my phone, and furniture.  I consume two things, goods and services.  Goods are all material things I own, so that is definitely a huge part in my life! Services are things that others do to help me, such as insurance, police, restaurant waiters and yes, school, so I can say that services play a big part in my life as well.     

Bibliography

School bus picture

https://commons.wikimedia.org/wiki/File:32166_Albemarle_County_School_Bus_Road-e-o.jpg

Standard of Living Thoughts

 

This is my infographic for France's standard of living. Here are my thoughts on standard of living:

A country’s standard of living does not show how everyone lives in that country. The standard of living shows only the standards, or averages of a country’s wealth, health, education, infrastructure, and leisure time. This means some people could be very below or above the standard in that country, but the standard only shows the average person, so their standard of living wouldn’t be recognized.

The most interesting thing that I learned about standard of living is that everyone in France has access to safe drinking water. I find this interesting because when I went to France, there were some homeless people, so that must mean that even they have access to safe drinking water.

Countries with a higher standard of living have an obligation to help countries with a lower standard of living. The countries with high standards of living aren’t legally obliged, but they usually provide aid to those with a lower standard of living because they want to help out.