Personal finance 1050 module 12 assignment summer 2017

10. 1 1. 12. _13. its: 1. Whydld the prices of tule bulbs Increase so dramatically? In other words. why were people willing to pay higher "Ell-g higher prices? . Find information about the term "speculative bubble." and describe it in your own words. What does the tullpomanla have to do with modern business? (Hint: you might nd and describe an example of a speculative bubble that occurred within the last 20 years). Mackay gives a list of items (starting with "Two lasts of wheat. 448 orins") that were traded for one tulip root. He could have left out this list and simply said that the root cost 2500 florins. What Is the purpose of the list? Why would Marco Polo compare the production of paper money to alchemy? Why would someone in Kaan's empire 'readily' accept a piece of paper as payment for a good? Hint: It's the same reason that you accept pieces of paper as payment today. How was paper money helpful to business in Kaan's Empire as described by Marco Polo? At the beginning of 2017. the U5. federal debt was approximately $20 trillion. Why don't we take a lesson from the Kaan and print $20 trillion worth of dollar bills to pay that debt? Review the three functions of money listed in the Introduction to the Redford reading. Did cigarettes serve each of these functions for prisoners of war? Address all three functions in your answer. in what ways could prisoners of war earn a prot? What would motivate a prisoner to want prot? Thinking about what happened in prisoner of war camps. as well as the readings from previous modules. do you think that money. businesses. and economies are things that inevitably arise from human nature? In other words. must business be part of any human society? , To what extent did the introduction of money and business to prisoner of war camps lead to the formation of social classes? According to Redford. when Canadian butter stopped coming. the price of German margarine went up. Why would this be true? What point is 0. Henry trying to make in "The Romance of a Busy Broker"? Do you agree with O. Henrys point? Explain. The works of Mackay. Polo. and Radford are non-ction. but essentially iust stories. Assess the credibility of each of these three sources and state which you think is the most credible and why