You have received a gift of money. The money is enough to buy either a piece of jewellery you like or tickets to a concert you want to attend. Which would you buy? Use specific reasons … On my 20th birthday my parents gave me 500 euros to spend however I choose. I couldn’t believe my eyes! There were a lot of things I could buy with 500 euros but about a month ago I had set my eyes on a wonderful piece of jewellery and was determined to buy it. It was an exquisite pearl necklace that would match
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I disagree with the statement‚ and I think that minimum-wage jobs are a good start for first-time employees and a way to keep the prices down for products and services of immediate necessity and some employers might be taking advantage of people who need job but I do not believe this entirely their responsibility. I believe that everyone has to start a minimum –wage job in their teenage years. When we are young we learn habits and behaviors. Minimum-wage jobs teach the habit of first responsibilities
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Explain why negative externalities are an example of market failure? Market failure refers to the failure of the market to allocate resources efficiently. Market failure results in allocative inefficiency‚ where too much or too little of goods or services are produced and consumed from the point of view of what is socially most desirable. Hence when there are negative externalities caused during consumption and production‚ this causes a welfare loss further more causing market failure. Negative
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motorist get pulled over and issued a speeding ticket on a daily basis. Bob’s thinks about this everyday when he sees someone getting another ticket. Bob’s opinion changes because many people are getting speeding tickets. Bob no longer thinks those people shouldn’t be speeding. Bob thinks it is unfair to pick on common working citizens for going to work. One day at work Bob receives a memo from a fellow employee to protest the high volumes of speeding tickets at a public place. The protest gets out
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should be restored. The reason I think it should be restored is because it would certainly save lives and it will most definitely save gas. However if the price of gas goes down then I think it would be still exceptional. The distribution of speeding tickets would also go down. I do think that since gas prices constantly go up people will not be happy to have to move so slow while paying a high amount for gas. Higher gas prices have forced some American drivers to trade in their SUV’s for smaller
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Some laws that law enforcement agencies set up in order to create this type of revenue off of lawbreakers include speeding tickets. The action of speeding can cause more good than harm because of the amount of revenue that speeding tickets can produce‚ compared to the amount of speeding related automobile accidents that people who speed cause. The consequence of getting a speeding ticket is a much more efficient consequence than consequence of someone who has committed a murder and pays no fine but
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vehicle‚ the driver seemed apologetic‚ and understood that he was speeding because he was in jeopardy of losing his job. His record was clean‚ other than a few minor speeding tickets that have already been taken care of. There was a dent in the front fender of his car‚ so I also had to take in consideration on whether he was always a speedy driver. It was also very noticeable that he had a family to take care of‚ and a full speeding ticket would impact him financially. In the second scenario‚ the driver
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have a common opinion that is cognitive biased‚ which means that they tend to ignore the prior known probabilities of a subject and failing to incorporate with a specific topic. According to Sarah‚ the drivers of the red cars often get the speeding tickets at a higher chance than drivers of the other cars with other colors. In order to analyze and address this personal opinion‚ fallacy and heuristic will be identified and explained. Fallacy is a misconception resulting from incorrect reasoning
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for my family as well as someone else’s family. It could also lead to death. Speeding is defined as “exceeding the posted speed limit‚ driving too fast for conditions‚ or racing” and is a dangerous driving behavior. Despite progress in other areas‚ such as increased seat belt usage and fewer drunken driving deaths‚ speeding continues to be a major factor in about one-third of traffic fatalities. Speeding is an offense that’s not only dangerous to the one committing the crime‚ but also to
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statistics of fatal crashes used to rationalize these insufficient speed limits. Drivers surprised by the sight of the almost camouflaged police unit‚ are common causes of highway tragedies for instantly cramming on their brakes‚ to avoid getting a speeding ticket. With traffic usually traveling in groups‚ the comfortable following distance is reduced by each reaction to this sudden braking action
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