Folks,
First here is my question for your journal (which you can replace either questions 2 or 3 with): We tend to think of costs as the money we pay for things. But does that mean that there would be no costs in a primitive society that did not yet use money or in a modern cooperative community, where people collectively produce the goods and services they use and do not charge each other for them?
Remember that your 3 standard questions are:
T1 is always tough but I promise i'll be amped as long as you are. The discussion was pretty good today and I hope you feel the same. Note that without your contribution this class will be terribly boring. Also, on any given day I really encourage you to bring in a question or thought that might be bugging you and challenge your classmates and I to figure out how/what econ has to say about these things.
First here is my question for your journal (which you can replace either questions 2 or 3 with): We tend to think of costs as the money we pay for things. But does that mean that there would be no costs in a primitive society that did not yet use money or in a modern cooperative community, where people collectively produce the goods and services they use and do not charge each other for them?
Remember that your 3 standard questions are:
- What was the thesis of this reading?
- What was your biggest takeaway or what/how does this apply to your interests? (If you don’t know where to go here I will email a question for thought before each lesson).
- What don’t you understand or what objection do you have?
T1 is always tough but I promise i'll be amped as long as you are. The discussion was pretty good today and I hope you feel the same. Note that without your contribution this class will be terribly boring. Also, on any given day I really encourage you to bring in a question or thought that might be bugging you and challenge your classmates and I to figure out how/what econ has to say about these things.
1. The thesis to this reading is to describe what economics is in the most basic form. To understand what economics is and the study of it, it had to be expalined what an economy was.
ReplyDelete2. (replacing question)- In the text they difined the basis of economics as being the scarcity of a product amoung a large group of people who want the same thing. I believe that if we lived in a primative society where there would be no charge for a specific good or service, there would be no physical cost on the society. Although, if the society produced their own goods and services, and used a different kind of system that called for some kind of exchange, there would start to be a scarcity in the product, which would lead to a "cost" on the society.
3. I don't fully understand how economics could be an opinion. Yes, there are different ideas when it comes to it and different economic systems to follow, but I don't understand how those systems can be an opinion.