Sunday, January 31, 2016

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

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