Samurai Résumé Project

1. Samurai Résumé Project • Labor: human effort used to make goods and services OR workers that are hired. • Scarcity: you can’t have everything you want OR unlimited wants, limited resources • Supply and Demand relationships: • As demand goes down, price goes down • As demand goes up, price goes up • As supply goes down, price goes up • As supply goes up, price goes down

2. General Economics Knowledge A benefit is something you gain in making a choice. A cost is something you give up in making a choice. A market is where buyers arrive with money looking to purchase things and sellers offer goods or services in exchange for money. Economics is the study of how people make choices. In a market, both buyers and sellers have an incentive to reach a compromise price in order to be mutually satisfied. Incentives are things that motivate people to do something. Opportunity cost is the best option given up when you make a choice. Scarcity tells us we can’t have everything we want. There is no such thing as a free lunch.

3. Lawn Boy Character Matching projects go awry often purposeful quiet and easily led by others. red hair says groovy short, round somewhere inside that brain maybe a screw came loose steel seat, pedals over the motor teacher in an experimental school trades stock broker services for lawn mowing services typical 12 year old uses family as guinea pigs voice sounds like thunder wise in a round about way big as a mountain bowl type hair cut clothes vintage 1970 does trim and other quiet work in the neighborhood doesn’t have the money to buy an inner tube for bike fast, light, moves easily gave lawn mower to lawn boy gentle touch hand as big as a ham has cousins lawn boy can hire inventor looked like a small bull dozer looked like someone who flunked clown school old, small, two feet wide

4. Lawn Boy Vocabulary Matching a plan of income and spending a share of ownership in a corporation all of the money you receive in business before paying any expenses; gross an economic system based on private ownership of the means of production an increase in the value of an investment controlling, directing, or governing expert knowledge or skill giving money to a business with the hope of getting more back, but with the risk of losing it all human effort used to make goods and services licensed or certified to work money received as pay; wages property and equipment used to produce goods or services revenue minus costs something you gain in making a choice something you give up in making a choice the possibility of suffering a loss; dangerous chance. the problem of limited resources the profit you make from your initial investment to spread one's efforts or investments over a variety of products, securities, or the like, in order to increase production or profitability, or average the risk of loss. to trade without money to use in a specific way two or more businesses combine into one business wages, payments for raw materials, transportation, rent, and interest on borrowed money wealth that is immediately available for use when everything goes right without any effort

5. Voluntary Trade Creates Happiness!

6. Lawn Boy Chapter Titles • The Principles of Economic Expansion • The Growth of Capitalism • The Law of Increasing Product Demand Versus Flat Production Capacity • Capital Growth Coupled with the Principles of Production Expansion • Labor Acquisition and Its Effect on Capital Growth • Economic Expansion Combined with Portfolio Diversification • Overutilization of Labor Compounded by Unpredicted Capital Growth • Dramatic Economic Expansion: Its Causes and Effects • Conflict Resolution and Its Effects on Economic Policy • Force of Arms and Its Application to Business • Business and the Art of Creative Misrepresentation • Team Management in Times of Uncertainty • Expertise, Its Utilization and Effects on Economy • Resource Utilization: Its Causes and Effects • Serendipitous Activity and Its Effects on Capital Quantity