ECON-1740
Question 1:
Answer #1 Power of free market.
Answer #2 and economy freedom
Question 2:
Answer #1 Equality of opportunity
Answer #2 but not opportunity of outcomes
Question 3:
Answer #1 With local Hong Kong affairs
Answer #2 Free markets
Answer #3 Tariff
Answer #4 Regulations
Answer #5 Government intervention
Answer #6 Natural way
Question # 4:
Answer #1 They bare the cause
Answer # 2 They get the benefit
Question #5:
Answer #1 Is what we do together of our own free will, when this people buy ans sell to each other and none is subjected to force or fruit . Voluntary Associaton it is anything that is going on between consenting adults.
Question #6:
Answer #1 Something that we use for granted and use everyday, is the result of complex interaction between thousand of people. That is why the operation of the free market is so essential not only to promote productive efficiency, but even more foster harmony and peace among the peoples of the world.
Question #7:
Answer #1 Concentration of power
Answer #2 Of the government
Question #8:
Answer #1 One hundred years
Answer #2 One hundred thousand years
Question #9:
Answer #1 End up with neither
Answer #2 The great measure of both
Question #10
Would you approve of this method in calculating your final grade? Why or why not?
I certainly believe in social justice, and equality of opportunity. However, I do not agree to the application of this concept of “fair shares for all” towards grading students. Though everyone starts at the same line, that doesn't guarantee a positive outcome; a good grade.
A student must put effort into the work. He or she must be persistent, needs to have the drive for academic success. These factors create the difference between a student who wants to excel, and one that is trying to just pass the class.
I am working hard. I'm a single mom, and I haven't been in school for over fifteen years. I have three kids to raise, I'm working, studying, and doing my best to make the grade. I do not think that it is fair to share grades with other students, especially those who don’t care about being productive, or who won't make the effort that takes to be successful in life. I also believe that regardless of whether a student has previous education, everyone has the opportunity to excel, in order to have a better future.
How would this differ from “fair shares for all” economically?
Professor Friedman pointed out that having economic freedom has it own consequences. “If they fail, they bear the cause. If they succeed, they get the benefit”. There is opportunity for everybody who wants to take the risk, even when the government has so many rules and regulations. There is still opportunity for people who are innovative, those who have a different outlook on life, one that makes them strive for success.
I think that a successful person is expected to give more of his earned income. For example, paying more taxes compared to people who have a lower income; people who are working class cannot give what they do not have.
In conclusion according to the New york Times, President Obama pointed out related to equality of opportunity: “We are true to our creed when a little girl born into the bleakest poverty knows that she has the same chance to succeed as anybody else, because she is American; she is free, and she is equal, not just in the eyes of God but also in our own.” Based in this statement I still believe that America is the land of opportunity, people who want to get educated no matter their race, gender or background there are opportunities for them, and the main concept would be: if we want something better, a change in our life, we have to go out there and look for opportunities.
REFLECTIVE WRITING
By completing this assignment helped me to develop knowledge & skills to civically engage. I learned more about American economic growth. For me It was really interesting to know how different concepts like Great Depression and the Rober barons, had a significant impact in the world. Likewise by studying the evolution of economy and the different systems I understand more of how economy works. I analyze different concepts for instance the empirical investigation that Professor Friedman did with such dedication and passion, how he observed, studied and analyzed different factors, variables in different parts of the world.
By completing the quizzes on line I think I practice Theoretical investigation because I had to read several times the same chapter in order to understand the concept because sometimes I could find the answer easily not always understand the technical words in the text.. It was really interesting to know about theories and facts of railroads, effects of civil war, industrial sector, American capitalism etc. That I have to admit I am still processing some of that information.
Moreover this assignment helped me to think critically & creatively, to think outside of the box,and explore the effects that events have in this century. Creatively helped me because sometimes I imagine what would I do if I was in that situation and how would I react or interpret those events. I like the fact that I am more aware of understanding the history of this country from a economic perspective and in the end formulate my own conclusions. I am convinced that learning also happens outside the classroom., by reading and searching different vocabulary helped to understand better the concept of American history.
Thank You.
Answer #1 Power of free market.
Answer #2 and economy freedom
Question 2:
Answer #1 Equality of opportunity
Answer #2 but not opportunity of outcomes
Question 3:
Answer #1 With local Hong Kong affairs
Answer #2 Free markets
Answer #3 Tariff
Answer #4 Regulations
Answer #5 Government intervention
Answer #6 Natural way
Question # 4:
Answer #1 They bare the cause
Answer # 2 They get the benefit
Question #5:
Answer #1 Is what we do together of our own free will, when this people buy ans sell to each other and none is subjected to force or fruit . Voluntary Associaton it is anything that is going on between consenting adults.
Question #6:
Answer #1 Something that we use for granted and use everyday, is the result of complex interaction between thousand of people. That is why the operation of the free market is so essential not only to promote productive efficiency, but even more foster harmony and peace among the peoples of the world.
Question #7:
Answer #1 Concentration of power
Answer #2 Of the government
Question #8:
Answer #1 One hundred years
Answer #2 One hundred thousand years
Question #9:
Answer #1 End up with neither
Answer #2 The great measure of both
Question #10
Would you approve of this method in calculating your final grade? Why or why not?
I certainly believe in social justice, and equality of opportunity. However, I do not agree to the application of this concept of “fair shares for all” towards grading students. Though everyone starts at the same line, that doesn't guarantee a positive outcome; a good grade.
A student must put effort into the work. He or she must be persistent, needs to have the drive for academic success. These factors create the difference between a student who wants to excel, and one that is trying to just pass the class.
I am working hard. I'm a single mom, and I haven't been in school for over fifteen years. I have three kids to raise, I'm working, studying, and doing my best to make the grade. I do not think that it is fair to share grades with other students, especially those who don’t care about being productive, or who won't make the effort that takes to be successful in life. I also believe that regardless of whether a student has previous education, everyone has the opportunity to excel, in order to have a better future.
How would this differ from “fair shares for all” economically?
Professor Friedman pointed out that having economic freedom has it own consequences. “If they fail, they bear the cause. If they succeed, they get the benefit”. There is opportunity for everybody who wants to take the risk, even when the government has so many rules and regulations. There is still opportunity for people who are innovative, those who have a different outlook on life, one that makes them strive for success.
I think that a successful person is expected to give more of his earned income. For example, paying more taxes compared to people who have a lower income; people who are working class cannot give what they do not have.
In conclusion according to the New york Times, President Obama pointed out related to equality of opportunity: “We are true to our creed when a little girl born into the bleakest poverty knows that she has the same chance to succeed as anybody else, because she is American; she is free, and she is equal, not just in the eyes of God but also in our own.” Based in this statement I still believe that America is the land of opportunity, people who want to get educated no matter their race, gender or background there are opportunities for them, and the main concept would be: if we want something better, a change in our life, we have to go out there and look for opportunities.
REFLECTIVE WRITING
By completing this assignment helped me to develop knowledge & skills to civically engage. I learned more about American economic growth. For me It was really interesting to know how different concepts like Great Depression and the Rober barons, had a significant impact in the world. Likewise by studying the evolution of economy and the different systems I understand more of how economy works. I analyze different concepts for instance the empirical investigation that Professor Friedman did with such dedication and passion, how he observed, studied and analyzed different factors, variables in different parts of the world.
By completing the quizzes on line I think I practice Theoretical investigation because I had to read several times the same chapter in order to understand the concept because sometimes I could find the answer easily not always understand the technical words in the text.. It was really interesting to know about theories and facts of railroads, effects of civil war, industrial sector, American capitalism etc. That I have to admit I am still processing some of that information.
Moreover this assignment helped me to think critically & creatively, to think outside of the box,and explore the effects that events have in this century. Creatively helped me because sometimes I imagine what would I do if I was in that situation and how would I react or interpret those events. I like the fact that I am more aware of understanding the history of this country from a economic perspective and in the end formulate my own conclusions. I am convinced that learning also happens outside the classroom., by reading and searching different vocabulary helped to understand better the concept of American history.
Thank You.