Well, its actually bit complicated but Ill get into one of the biggest issues.
So, 2008, seeing that youre in high school, you were most likely here to experience it. There was the huge economic collapse building up because houses were gaining worth.
Because of this, investors began to see a chance at making large sums of money by doing something that you would think would end up bad.
Giving loans to people with bad credit score to buy houses.
They knew these people were more likely to default on their loans, the investor would then by law own the house and because prices are rising, they know they are going to make a ton.
This kept building and building and the houses were being defaulted on constantly and overtaken.
Well, supply and demand. You have a ton of houses with people kicked out and the people that need houses are the people with bad credit score that were just kicked out.
So there was a need for housing, but only for people who could not afford it.
The pricing of housing plummeted and many investors who had on credit made the investment, had to declare bankruptcy.
This is obviously a more simple overview but it was so bad that the economy dipped down to its lowest point since the great depression. Government worked very hard to try and control the situation and contain it from causing the final economic collapse of society and right now, we are in an "okay" economy so it seems that the restrictions worked.
Government had to intervene in the free market because if they did not, the economy would collapse.
And just to add, by saying we are in an "okay" economy, thats an understatement. Its insane the amount of stuff we have compared to other countries.
You may think that if we chose a random person, he would kinda be like you. Well, turns out we are the minority in the world.
There are only around 43% of people with access to internet. People have easier access to phones than they do to clean water.
The economy is complex but I hope this peaked your interest in it
Explanation:
Hunting-Gathering societies.
Horticultural societies.
Agrarian societies.
Industrial societies.
Post-industrial societies.
Answer:
Social media is a collective term for online platforms where users provide content without or with minimal intervention from a professional editorial team, but by the pure and simple action of each user, who manages their profile according to their consideration. The main characteristics are the interaction and dialogue between users, who exchange data, files, knowledge and experiences through these means.
Thus, since the main factor of these media is social interaction, a situation may arise with positive or negative implications, depending on how said social interaction affects the user. Regarding the positive aspects, social media serve to reduce the gap of distance and time between users, allowing a more fluid communication in less time. In addition, it serves to, in cases, increase self-esteem and positive perception of oneself, through the approval that other users make of the posted content.
The correct answer is: "The elites use their payoffs to stay in power."
Firms constantly seek to hire as cheap as possible. The less amount they pay in terms of salaries, the greater will be the margin of profits, as the calculation will be profit= revenue - costs, being salaries one fraction of the costs.
This mechanism produces an increase of the inequality gap. Workers get lower salaries and firmowners and directives keep on rising the amount of profits generated by their businesses, and in turn, their payoffs also grow. This trend creates elites.
In
group decision making, a form of tunnel vision that develops in which there is
only one "right" viewpoint and suggested alternatives are perceived
as signs of disloyalty is called groupthink.
<span>In
simpler form, groupthink discourages creativity, from the name itself, it talks
about the decision making as a group in which individuality is not accepted.</span>
