luther

luther
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  • i want to go to college here, it is really nice!
  • road to success
  • tolls ahead
  • Voting vs. Economic Decisions: Voting is when majority rules and people are usually uninformed and economic decision is an individual choice, often they are very informed. When a student is trying to decide where to go to college, their money is at risk so they want to find the best college for the best price. 
  • thank goodness my brand new, expensive car is protected by the lemon law!
  • Subsidies: Subsidies is a form of financial aid by the government. For instance, farmers get subsidies to guareentee crops and money and to keep the farmers happy. A pro is that the farmers keep producing food despite the fear of drought, they always have something to fall back on.
  • Public goods: A public good is an economic product that is for the people and can be consumed collectively. For example, a highway is available to everyone to use and is paid for by taxpayers and tolls. A con to public goods is it leads to free-riders.
  • Interest Groups: Interest groups is a group of people who believe in something that will interest the public and influence public policy. For intance, Christian Coalition is a group that is for school prayer and banning abortion and they want to influence the public policy. 
  • join us sunday night for a night of prayer! anyone welcome.
  • got jesus?
  • Protective Function: Providing goods that are difficult to provide in certian markets prevent theft and monopolies. For example, the lemon law protects consumers from buying a bad car, they are protected by this law. It keeps the consumers happy and economy good.
  • Free Rider Problem: A free rider is whenever people pay for a good or service but another person gets all the benefits as the person paying, but without paying. For example, a public park. People who live in that neighborhood/city where that park is pay for the park with thier tax money but anyone can use it even if you don't pay for it. A con would be that if not enough people pay for something then no one will get to enjoy that good/service.
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