20% Update

•Throught this project, Allie and I learned that what you want isn't always what you need. We learned how to spend money wisely on education and how easy it was to get a scholarship. It was successful for us because we are now easily able to reasonably think about our future. 

•This month, we have put together all of our gathered information so it's more comprehensible to others. 

•Throughout this project, it was difficult to find some necessary information because there weren't many statistics to go off from. 

Schools {CCS}

     Socialist, Communist, and Capitalist countries are all unique and similar in numerous ways in the field of education. In socialistic societies, students are given freedom to select their desired career paths. However, the schools they attend are all chosen for them according to their career. In communist countries, schooling is mandatory. Students are required to finish schooling. Depending on what is needed by the country and what a specific student excels at, their career path and schooling options are chosen for students. In capitalistic places, students have the right to choose which career path they wish to take and whether they want to participate in public or private schooling options. Socialist and communistic societies both have public schooling while capitalist and socialist societies have private schooling.

Definitions

A stock is a share of a company that you're permitted to purchase.

A dividend is when a company pays the shareholder, often quarterly, an amount of money. The amount given is based on the company's overall profit.

A trade is a stock owned for six months or less. 

A catalyst is something that initiates an event to happen. 

Lemonade Stand

       

       The average cost of one cup of lemonade was 12 cents to produce. The variables involved in the game included when to buy and how much to buy of the necessary ingredients. The sugar, ice, and lemons were all perishable. The constants present in the game were the cups. I didn't gain much from this game, but it provided a brief introduction of how businesses work. 

Minimum Wage

http://money.cnn.com/infographic/pf/low-wage-worker/

http://www.usnews.com/opinion/blogs/economic-intelligence/2013/03/11/raising-the-minimum-wage-wont-help-the-poor

http://www.nytimes.com/2012/02/20/nyregion/fearing-a-minimum-wage-increase-will-be-bad-for-business.html?pagewanted=all&_r=0

      The president's call to increase the minimum wage will make it harder for firms to hire workers because it will make workers more expensive. The minimum wage should not be increased, especially given the state of the labor market. Kevin Hassett said, "Lifting the minimum wage would result in job loss. A bunch of workers would get bigger checks while a bunch of workers would have to lose their jobs." Rather than increasing the minimum wage, getting the millions of currently unemployed workers into productive employment should be a major focus of government. Hassett also said, “Many people who have little experience get their start at places like fast food restaurants. But if wages are higher, employers are less likely to take a chance on people with less experience because it's a big investment. Fewer people would get a shot at proving themselves." Minimum wage workers tend be young and unskilled. Less than half of workers under the age of 25 are currently employed and many rely on low paying opportunities to get their first break. The majority will earn a raise within a year, but they currently lack the experience and skill to compete for higher paying jobs. Raising the minimum wage makes it harder for these inexperienced workers to find a job, because businesses will either eliminate positions or choose to hire someone with more experience at the higher mandated wage. Joseph Berger wrote,"Particularly skilled cleaners will receive up to $11 an hour. Cleaners in buildings that require unionized workers start at $9.20 an hour. Even a $7.25 worker costs an extra $1.74 for every hour worked because of liability and disability insurance, Social Security and other costs. Equipment can also be expensive; drivable scrubbing machines cost up to $12,000 each.Should the minimum wage be raised this year, Mr. Cestaro cannot charge a store like Sears any more because he is under a long-term contract."  In contrast, Jared Bernstein stated, "even if employers give workers fewer hours, workers' hourly wages would be higher so they could still come away with higher earnings." However, it is clear that fewer people would be able to work for a specific company and few would benefit from the higher earnings.