NOOOOOOOO!!!!!!!!!!!!!!!!!!!!!!!!!

This week was fun! We had a lot happen. The most exciting was getting our Weserville money, but most of us lost a lot of our money because of TAXES. That made a lot of mad. Taxes make many people unhappy. Taxes put many people into debt. Nobody has the amount of money. The choice... What type of tax should be put on Weserville? Well in my opinion proportional taxes would be best because that we would all pay the same percent. Would love to hear what everyone else has to say! Express your opinions!!!

WHAT'S IN FOR WESERVILLE?????

Thursday Weserville had a Town Hall meeting about whether or not Walmart should come into Weserville or not. It was a very heated debate both sides had very strong arguments. After an hour of very convincing arguments, it was time to make a decision. All the residents had voiced there opinions and concerns. Led by the mayor the town council voted. It was not up to us anymore it was up to the council to do what was right for the town of Weserville. The mayor and the rest of the council put in there vote, in a 5 to 2 vote, Walmart will enter Weserville. Walmart agreed to some conditions such as keeping two lanes and offering 20% of there money to Weserville instead of 10%. We agreed to allow Wlamart after they met these conditions. We can only hope that Walmart will be the best for Weserville and help us grow and develop as a small town.

Say What?

This week we focused on the market economy and the Circular Flow Chart. What is the circular flow chart? Well it is a visualization of all interactions in a market economy. Now that you know what it is lets talk about how we used it this week. Weserville is welcoming three new businesses. To promote our business we used the circular flow chart to explain how the business will work. We also had to say what the incentives of our business would provide. Incentives are benefits that people receive. Most of the businesses offer jobs as their incentive. We learned a lot this week and we had a lot of fun !!!

Who Came Where?

This week in personal finance we learned about the different types of economies. There are three types, market, command, and traditional. A market economy is an economic system based on individual choice and voluntary exchange. A command economy is an economic system in which the government makes all economic decisions. A  traditional economy is an economic system in which people make  economic decisions based on customs and beliefs that have been handed down from one generation to the next. Also this week we had to very important visitors, none other than, Adam Smith and Karl Marx. Adam Smith was the creator of the free market economy. Karl Marx was the creator of the command economy. Both of these men came to the Weserville town hall to discuss which type of economy would be best for Weserville. Both men discussed their views and sides but are leaving up to us to choose. I agree with Smith and think that a market economy would be best because Weserville does not have a lot of resources so we can trade with other cities to provide for our needs. This will help Weserville to become a stronger community.

Hello Everyone!!!!