This week.

This week we have been going over taxes.

We have looked at how the Government handles taxes and how the different taxes affect different people.

There are three types of taxes, Progressive taxes, which tax the rich more, Regressive taxes, which tax the poor more, and Flat taxes, which tax everyone the same percentage.

To really understand it, we all recieved a random amount of money and was they separated into groups of people who got taxed by the different types of taxes.

The excercise allowed us to really see how these taxes can affect the poor and rich, but in the end the poor always have it harder.

This week.

This week we have been discussing if Walmart should come to Weserville. 

We created a proposal for a Walmart represenative and negotiated for the better for both of us.

We disscused roads and running gas lines to the Walmart for gas distribution.

The representative reviewed our offer and told us that there was a good chance it would go through.

Hopefully today or Monday we will have more information, I will update you next week.

This week.

This week we have gone over the Circular flow model.

The Circular flow model show the cycle of money and labor between the consumer and producers.

To really learn how to understand the Circular flow model, we made life size Circular flow models out of people.

My group developed a way to show what it is by having two people walk around symbolizing money and the product being sold and four people standing in a circle to represent the producer, consumer, factors and goods.

Tune in next week to learn more about what happened in Econonmy class!

This week.

          This week we have gone over alot, but most importantly, Karl Marx and Adam Smith. We can see that they both were revolutionary in the development of their economies. Later, we wrote a skit about what would happen if Karl Marx and Adam Smith were to eat lunch in Weserville and disscuss the pros and cons of each a market and command economy. While presenting our skits we ate a feast of goodies brought in by other students. That is it so far, but keep in touch to learn more about our adventures in the world of Economy Class!