December 14, 2012

Today was our last class before Exams so we went over the review. It was not much of a review for me because I had already got down all of my notes in OneNote the night before to get a head start. It was also the last day our Japanese students were here and it was very hard not to cry. I will have to get over the fact that they must leave and focus on acing this exam.

December 12, 2012

Today in class three of the groups presented their presentations to convince us to buy American or foreign!

December 6, 2012

Today in class we finished watching part three of The People's Republic of Capitalism. Here are my notes:
Everyone used to travel on bike
Jakson Tang- Liberty Mutual
400 traffic accidents a day
25,000 new cars a day
30 million cars
Terrible traffic, no one obeys the laws
80% of buyers are first time- 9 out of 10 pay cash
Last emperor- 80 years ago, originated the Buick
more Buicks in China than US

December 5, 2012

Capitalism

An economic and political system in which a country's trade and industry are controlled by private or corporate owners for profit. Figuring how much to charge for stuff to stay in business on your own.

Communism- supposed to get rid of having super rich people and super poor people. a theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state. A revolutionary socialist movement to create a class list and state list social order structured upon
Free enterprise-an economic and political doctrine holding that a capitalist economy can regulate itself in a freely competitive market through the relationship of supply and demand with a minimum of governmental intervention and regulation, the practice of free enterprise in an economy, or the right to practice it. freedom of private business, operating for profit, without interference from government, beyond regulation
Free market- an economic system in which prices and wages are determined by unrestricted competition between businesses, without government regulation or fear of monopolies.