Seminar One Exercises
Samantha Curtis
FIN 101
February 23, 2015
1. Research some economics concepts regarding the value of labor. How do the business cycles and the health of the economy affect the value of your labor? In terms of supply and demand, what are the optimal conditions in which to sell your labor? How might further education increase your mobility in the labor market (the value of your labor)?
a. When the value of labor is down, the economy is down. When the events from the world begin to change (recession), than the balance between supply and demand change. Sometimes demand and supply change so much that one or the other cannot keep up with the other. Whatever happens between supply and demand, us as buyers and sellers react, than overall this will create the change. When supply is up, labor is a must. Try to push the labor to make more money. When demand is down, than it is clear that you will not have that much labor to sell. Furthering education will help with budgeting and learning how supply and demand actually works.
2. View the video “Interview Questions for Choosing a Financial Planner” at (this is located outside of Baker College - you will have to open this in a new window.) Which advice about getting financial advice do you find most valuable? Share your views with classmates. Also view the MSN Money video on when people should consider getting a financial advisor: According to the featured speaker, is financial planning advice for everyone? How do you know when you need a financial planner?
a. I think the most valuable advice from the video was the link he made about the doctor. Even though we don’t need to go every month, we should go once a year for a checkup. Same with our financial advice, we should go once a year or once every couple years so that we know we are on track with our 401K. Not a lot of people think about it like this, but listening to these two talk it makes sense to go get checked.
b. No financial planning advice is not for everyone. You
FIN 101
February 23, 2015
1. Research some economics concepts regarding the value of labor. How do the business cycles and the health of the economy affect the value of your labor? In terms of supply and demand, what are the optimal conditions in which to sell your labor? How might further education increase your mobility in the labor market (the value of your labor)?
a. When the value of labor is down, the economy is down. When the events from the world begin to change (recession), than the balance between supply and demand change. Sometimes demand and supply change so much that one or the other cannot keep up with the other. Whatever happens between supply and demand, us as buyers and sellers react, than overall this will create the change. When supply is up, labor is a must. Try to push the labor to make more money. When demand is down, than it is clear that you will not have that much labor to sell. Furthering education will help with budgeting and learning how supply and demand actually works.
2. View the video “Interview Questions for Choosing a Financial Planner” at (this is located outside of Baker College - you will have to open this in a new window.) Which advice about getting financial advice do you find most valuable? Share your views with classmates. Also view the MSN Money video on when people should consider getting a financial advisor: According to the featured speaker, is financial planning advice for everyone? How do you know when you need a financial planner?
a. I think the most valuable advice from the video was the link he made about the doctor. Even though we don’t need to go every month, we should go once a year for a checkup. Same with our financial advice, we should go once a year or once every couple years so that we know we are on track with our 401K. Not a lot of people think about it like this, but listening to these two talk it makes sense to go get checked.
b. No financial planning advice is not for everyone. You