week

Another week has gone by and again we learned some new things. We learned about mostly the government.  Taxes are mandatory payments to the government. We learned about different spending's. We learned about mandatory and discretionary spending. Mandatory spending's are required by the law and they have entitlement programs such as medicare and medicaid. Discretionary associates with education and the justice administration. The largest discretionary spending is the national defense. Congress and the president work together to establish the federal budget which lasts from the first day of October till September the 30th.

Post of the week of what we did

2-20-14
We had watched a video based on WalMart this past week. It was based on a small town who had people who had arguments of whether to have it or not. With a group of people who were known as the Pink Flamingos, they fought against having WalMart but lost. We then talked about our small town of Weserville of whether we should also have a WalMart or a Bass Pro. The town had voted for having it so now we have one which in my opinion is a bad idea for it may begin to shut down other businesses of what we already have.
The only thing I am looking forward to this week is the Waffle Party we are having on Friday.

things we learned this week

We had a busy week. We had learned some new things. We learned that there are three different economies. They are command, traditional, and free market economies. Traditional economy is when the people do their own thing such as hunting for themselves. Command economy is based on the government making the choices. Market economy is everyone who makes individual choices. We learned about two famous economic analysts who are known as Karl Marx and Adam Smith. Adam Smith was a "fan" of capitalism while Marx disliked it because he saw it as a way that can lead to peoples greediness. Marx believed that we should all "share" our resources while Smith saw it as to not share resources. Marx believed everyone should work to what they can do and get what they need. Marx also believed that their is a limited supply of resources and that we should share all our resources.

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