Civics_Ch10_Homework-2

=**Civics Ch. 10 Homework #2**= Answer the questions based on the reading passages.

1. __Economic Systems__: Suppose you wanted to make a sandwich but you discovered that you had no bread. How could you get more? Would you have to grind wheat into flour so that you could bake a new loaf? Might you have to stand in a long line for hours before someone gave you a few slices? Of course you wouldn't. With a quick trip to the store, you could buy as many loaves of bread as you wanted. All around in other parts of the world, however, getting items like bread is not as simple. How people get the things they want is determined by a country's economic system. The nature of economic systems varies widely from place to place. However, they all help people create and obtain the goods and services they need. All around the world, people need certain things to survive. People cannot live without food and water, shelter, and clothing. These basic materials that people cannot live without are called needs. In addition to their needs, there are many items that people want in order to make their lives more comfortable. These items are not necessary for survival, but they can have great value to people. For example, you may want a television, a cell phone, or a car. You do not really need any of these things in order to live, but they can make your life easier, more comfortable, or more enjoyable. These types of items are called wants. Different people have different wants. In addition, a person's wants can change over time. People satisfy their wants by obtaining goods and services. For example, if you want fun, you can buy a new game. The process of obtaining goods and services to satisfy your wants is called the want-satisfaction. How people obtain goods and services is what distinguishes different economic systems from each other. A traditional economic system refers to hunting and gathering societies in which people grow or hunt their own food. A command economy or socialism is one in which the government has control over business and property. A market economy or capitalism is one in which there is private individual ownership of business and property and people are free to buy and sell what they choose. __**QUESTION: Why do countries need economic systems?**__

2. __Life in a Market Economy__: In a market economy, people are free to start a business and pursue profit, which is the money a business has left after it has paid its expenses. The profit motive, or the desire to make a profit, is essential to a successful market economy. If people do not want profit, they will not start businesses and people will have no way to obtain goods and services. In order to make a profit, people need to provide a good or service. In order to provide a good or service, they need resources. As you know, however, resources are not unlimited. As a result, businesses and individuals must compete for the resources they need. This competition eventually affects everyone, not just business owners. In time, it affects the prices we pay for the goods we want. One result of the competition for these resources is scarcity, which is the lack of a particular resource. When a resource becomes scarce, it is harder for producers to obtain. Products made with that resource also become more difficult to obtain. As a result, the prices for these items usually rise.

Changes in prices are usually the result of the laws of supply and demand. These laws are among the most basic of all economic principles. The law of supply says that businesses will produce more products when they can sell them at higher prices. They will produce fewer products when prices are low. The law of demand says that buyers will demand, or want, a greater quantity of a good when its price is low. Likewise, as prices rise, the quantity demanded falls. That is, when the price of a good goes up, people buy less of that good. Although you may not realize it, you are probably already familiar with the principles of supply and demand. Imagine, for example, that you are paid $100 by each of your neighbors to mow their lawns. You will probably want to mow quite a few lawns, because that is a good price for your service. Imagine, however, that your neighbors only wanted to pay you $1 per lawn. Would you still want to mow as many? Most people would not, because that price is too low. That is what the law of supply says - people are more eager to provide a good or service for a high price than for a low one. Business owners hope that the supply of and demand for a product will balance each other. Because they want to find a price at which consumers will continue to buy a product, the price cannot be too high. At the same time, however, business owners need to make a profit. Therefore, the price cannot be too low either. To understand this balance, imagine that you are selling lemonade. You need to figure out a good price to charge for your product. First you think that you would like to charge $10 per glass. That way you will make a large profit on each glass that you sell. Unfortunately, people do not want to pay that much for a glass of lemonade. To sell more, you drop the price. If you sold a glass for a nickel each, there would be a lot of buyers. However, you quickly would learn that it costs you more to make the lemonade than you earn by selling. Obviously, you would need to raise your prices if you want to stay in business long. You could raise your price to $2 each. You'd have less customers than you did when it was a nickel but many more from when the price was $10 and business would be steady, therefore that is a good price.

Free enterprise is private ownership of business and property with little government interference. It's linked to capitalism, which is an economic system in which the productive resources - farms, factories, machines, and so on - are owned by private citizens. It is often referred to as a market economy since buyers and sellers control the economic decisions through the laws of supply and demand. Competition among businesses in this type of system keeps prices affordable and products of good quality. __**QUESTION: How are supply, demand, and free enterprise key to a market economy?**__

3. __Business Organizations__: If you want to start your own business, one of the first decisions you will have to make is how your business will be owned. In the United States, there are three basic types of business ownership or business organization - the sole proprietorship, the partnership, and the corporation. Each type of organization has advantages and disadvantages. A sole proprietorship is a small business owned by one person. A partnership is a business in which two or more people share the responsibilities, costs, profit, and losses. A corporation is a type of business that is recognized as a separate legal entity. In other words, a corporation is one in which investors buy shares of stock in the company and has a board of directors to run the corporation. The board of directors appoints company officers such as the chief executive officer (CEO) and the chief financial officer (CFO). The CEO hires managers to run different areas of the business with employees that carry out the orders of the management. Corporations are usually called big businesses. __**QUESTION: What are the three ways businesses organize?**__

4. __Factors of Production__: You have, at one time or another, had to make a decision about how to spend your money. Sometimes, there may be only one thing that you want. That makes the decision easy. If you want more than on thing - a new game and some new clothes - and your funds are limited, you have to make a choice. Countries make similar choices about production. Every country must ask "What are we going to produce?" "How are we going to produce it?" The answers to these questions help us decide how to use the four factors of production. One factor of production is natural resources, which are the items provided by nature without human intervention that can be used to produce goods and to provide services. These raw materials come from the oceans, rivers, mines, fields, and forests that help make up the world's natural resources. A natural resource is considered a factor of production when some payment is necessary for its use. A second factor of production is capital, which is the manufactured goods used to make other goods and services. Capital includes tools, trucks, machines of all sorts, and office equipment such as computers. Financial capital is the money that is used to buy the tools and equipment - the capital goods - used in production. A third factor of production is labor or the workers. Workers sell their labor for money - a paycheck. The fourth factor of production is entrepreneurship. An entrepreneur is a person who organizes, manages, and assumes the risks of a business. Entrepreneurs often come up with an idea for a new product or a new way of doing business. All of the things you enjoy buying were developed by an entrepreneur. Bill Gates, the founder of Microsoft and Windows computers, is an example of an entrepreneur. Steve Jobs, who built Apple, is also an entrepreneur. You can thank Steve Jobs for your iPods, iPhones, and iPads. America became an industrialized nation and the wealthiest nation in the world due to entrepreneurs. When our government and nation embraces entrepreneurs and encourages risk taking in terms of starting a business, the American economy grows. However, as we have found out in more recent times, when the government is skeptical of business and puts in controls over entrepreneurs, our economy slows down. __**QUESTION: What are the four factors of production necessary for a successful business. Why one do you think is most important? Why?**__

5. __The Government's Role__: Although the U.S. government does not tell business owners what products to make or how much to charge, it does influence business in many ways. For example, government ensures that big corporations do not destroy competition with small businesses. The government also protects a person's right to own private property and to buy and sell in a free market. In addition, the federal government taxes business income. Changes in the tax code can affect business plans. Many agencies of the federal government help businesses. For example, the Small Business Association helps small businesses as they compete in the economy. The government tries to help the economy run smoothly. However, too often the government interferes too much and becomes a burden on the economy. The government protects workers' health and safety, prevents pollution (although the environmentalist movement has made the government too intrusive in this area), and protects buyers from dishonest practices and harmful products. The government can also ensure that employers don't discriminate against workers or job applicants. Congress has established a minimum wage law that requires a minimum hourly wage for employees. Some people believe that the government has gone too far in being involved in economics. This is because modern Progressivism seeks to have the government manage the entire economy, even though this type of economics (near socialism) has never worked long-term in history. Another example of too much government involvement would be the tens of thousands of pages that are needed to print out all of the regulations that businesses have to follow issued by the federal government. How much government involvement there should be is often decided by voters. __**QUESTION: How is the government involved in American economics?**__

6. __Law 101 - Teens and Labor Laws__: Suppose you are 14 years old and your parents have given you permission to get your first job. You might ask yourself, "What kind of job would I like?" The first questions your should ask, however, are, "What kinds of jobs am I legally allowed to have, and how many hours am I allowed to work?" For many years in this country, children as young as 5 or 6 sometimes worked to help support their families. Children as young as age 8 worked in coal mines and factories. Many people believed that working long and difficult hours was not a healthy way to spend a childhood. For this reason, Congress outlawed child labor in 1938. Today the federal government limits the hours that children can work and the types of jobs they can hold. The laws vary, depending on how old you are. For example, children 13 and younger can only work at certain jobs, such as babysitting, delivering newspapers, or acting in theatrical, motion picture, and broadcast productions. If you are 14 to 15, you can work only three hours on a school day and not more than 18 hours during a school week. You can, however, work full time during the summer. Teens aged 16 or 17 can work more hours during the school year, but there are certain jobs that are off limits for anyone under 18. These prohibited jobs involve dangerous work, such as mining and operating heavy equipment. __**QUESTION: Why do you think government limits the hours and types of jobs teens can have?**__

7. __Transporting Goods__: In the early days of our country, goods were usually delivered by horse-drawn wagons or by boats. These were slow and often unreliable methods of transportation. The development of the railroad sped things up somewhat, but a truly efficient national economy needed faster and more effective ways of getting products from the manufacturer to the consumers. Today, goods in our economy are still shipped by rail and by water, similar to the ways goods were shipped 150 years ago. But today we also use trucks and other motor vehicles to carry much of our freight. Airplanes carry freight that must move quickly from one place to another.

Railroads are an important part of the country's transportation system. They carry bulk cargo, such as coal and grain. Railroads helped create a single, large market for products. Long freight trains rolled from coast to coast carrying raw materials and finished products. The railroads provided means for rapid transportation and communication reaching cities and farm areas. From 1850 and for about a century, railroads were the country's chief method of transportation. Railroads today carry a much smaller percentage of the freight than they did in the late 1800s. Airlines are also important in transporting freight. For example, planes now carry all first-class mail between U.S. cities located over a certain distance apart. Air shipping is faster than truck or rail, but also more expensive. Therefore, air shipping is only 3% of the freight shipped. After the terrorist attacks on September 11, 2001, air shipping has become even more expensive since all airlines had to make major changes for security. The motor vehicle is the leading means of transportation in the United States. Americans and their families do about 85% of their traveling in personal vehicles (cars, light trucks, and SUVs - sport utility vehicles). Motor vehicles, especially trucks, are also the leading means of transporting goods in this country. Trucks carry about 3/4 of all goods by dollar value and about 2/3 of all goods by weight. Rapid highway transportation depends on good roads. To speed motor traffic, the country maintains a vast interstate highway system. Highway transportation also depends on a steady supply of fuel. Transportation of goods by water - rivers, canals, and oceans - continues to be an important means of transportation. Although relatively little - about 1% value; 6% by weight - of our goods are shipped by water, there are some advantages. For those manufacturers and consumers located close to major rivers, barge or boat transportation of goods can be fast and inexpensive. The development of modern container shipping, where goods are packed in large container boxes that can be carried on the back of a truck or loaded onto a barge, has made it easier to use a combination of land and water transportation to deliver goods. __**QUESTION: Which method of shipping do you think is best and why?**__

8. __Keys to Wise Consuming__: Each year businesses spend billions of dollars encouraging us to buy their products. They run advertisements in newspapers and magazines, on the Internet, on billboards, on the radio, and on television. Businesses create slogans they hope we will remember. They know that some of us will buy the product whose slogan appeals to us most. There are steps you can take to be certain you're spending your money wisely. One lesson is to learn when and where to buy. I good habit to get into is putting a portion of your paycheck into a savings account in order to increase your purchasing power. In today's world many citizens use credit to borrow money to make numerous purchases. A good rule of thumb is to not take out a loan to purchase anything that decreases in value over time. That way you won't have to pay interest on something that loses value as the years go by. Taking out a loan to buy a house or land is not in this category since land and houses increase in value over time. Items that people will often take out loans for that decrease in value over time include automobiles, furniture, clothes, and most forms of entertainment. A consumer is a person who buys or uses goods and services. As consumers, we play an important part in the American free enterprise system. Some shoppers are called impulse buyers, or ones that make a quick decision to buy a product based on the product's slogan, a display in the store, or television advertising. A wise shopper spends more time thinking about what to buy and what is necessary. Often times buyers purchase wants rather than needs. This is fine unless the buyer is one who struggles to pay his/her bills from paycheck to paycheck. Another tip is to watch for sales and compare prices. Some consumers buy only brand-name products. A brand is a name given by the maker to a product or range of products. Brands are what companies advertise. Many people buy brand-name items because they believe it to be of good quality. A generic product is a product that does not have a manufacturer's name or brand. They are often plainly packaged. They may not offer the guarantees of quality. They are often less expensive and many consumers believe just as good of a product. Another key piece of advice is to study labels. Labels are placed on foods, clothing, and other items to protect consumers. The Fair Packaging and Labeling Act requires businesses to provide certain information including contents and quantity or weight. The Nutrition Labeling and Education Act of 1990 and amended in 1994 requires that food companies, in addition to listing serving sizes also show the fat, cholesterol, sodium, fiber, and nutrient totals contained in each serving. __**QUESTION: How can you be a wise consumer?**__

9. __Consumer Protection__: Sometimes you may find that a product has been falsely labeled or advertised, or that you have purchased something that is defective. If you believe you have been misled by an unfair business practice, or if the item is defective, you should first make a complaint to the business that sold you the product or service. Most of the time, the seller will try to solve the problem with you. However, if that does not happen, there are organizations and agencies that offer protection and assistance to consumers. The Better Business Bureau is an organization that gives advice and assistance to people who believe they have been cheated or treated unfairly by a company. There is also a group called the Consumers Union, which tests and rates nearly every product the public buys. There are several government agencies as well. The Federal Trade Commission (FTC) has the power to bring to court any business that falsely advertises or is misleading through false labeling. The Department of Agriculture puts standards on meat and poultry products and also conducts inspections. There are also laws that punish consumers for illegal activity such as shoplifting, which is stealing from a business and costs billions of dollars to American businesses each year. __**QUESTION: What can consumers do if they are dissatisfied with a product?**__

10. __America's Credit Card Debt__: The first general-purpose credit card was introduced in 1958, when the BankAmericard was sent to 60,000 potential customers. By 1970, two major credit cards were available, but only about half of the people who received cards were using them. The average credit card debt was $185. Credit card companies have changed a lot since those early days. Today, there are over 20,000 different types of credit cards available. Companies now research the financial background of potential customers. To make more money, they also charge penalty fees and offer people higher credit lines and lower minimum payments. The average household today has an average of $8,000 in credit card debt, up from $3,000 15 years ago. Credit cards provide consumers the ability to buy an item that costs more than the consumer can afford in one payment. Therefore, the consumer can make payments to the credit card company paying interest with each payment, which is how credit card companies can earn a profit. The danger with credit cards is that often times people use too many credit cards and create such high debt that it becomes nearly impossible to pay off the debts. __**QUESTION: What are the advantages and disadvantages of credit cards?**__

11. __Federal Reserve System__: This system is the central bank of the U.S. and is divided into 12 federal districts. A Federal Reserve bank is located in each district. Federal Reserve banks do not do business directly with individuals or companies. Instead, they act as bankers for the federal government and for other banks. Federal Reserve banks serve two main purposes. First, they handle the banking needs of the federal government. For example, Federal Reserve banks handle the sale of bonds issued by the government. In addition, most U.S. currency (money) is put into circulation through the Federal Reserve System. From these banks, the money spreads out into the economy for use by businesses and consumers. Second, the 12 Federal Reserve banks provide various services to state and national banks, and control the banking system. For example, a member bank can go to the Federal Reserve bank in its district and borrow money. Doing so allows the member bank to meet a high demand for cash from its customers. The member bank must pay interest on the loans it receives from the Fed, just like individuals or businesses. The rate of interest charged to member banks by the Federal Reserve is called the discount rate. This rate often influences the amount of money available to banks for making loans. The Federal Reserve is managed by a board of 7 governors. There is a chairman of the Federal Reserve who has authority over the system. In more recent years, the Federal Reserve has come under scrutiny since they have put large amounts of money into circulation, which is the reason for major increases in prices on goods. __**QUESTION: How does the Federal Reserve regulate the economy?**__

12. __Insurance Provided by the Government__: Social insurance programs are government programs meant to protect individuals from future hardships. Social Security is social insurance for the elderly. It also includes payments for disability and unemployment insurance. People pay a certain percentage of their salary each month while they work in order to receive cash benefits later when the retire. This is the basic concept of Social Security. Employers also contribute a certain percentage to their workers' Social Security as well. Unemployment is given to those who are unable to find work after having been in the workforce. Workers' compensation is paid to workers who are injured on the job and unable to work for a period of time. Medicare is health care for the elderly. Citizens pay into Medicare like Social Security when they work. __**QUESTION: What is the purpose of social insurance?**__

13. __**QUESTION - OPINION: When the economy is struggling, do you think the government should get more involved by spending a lot of tax dollars or should the government stay out of the way and let the free market system work itself out? Why do you think the way you do?**__

14. __Labor Unions__: As American industry expanded, growing numbers of workers became dissatisfied with their labor conditions. Men and women began to organize into groups to demand better conditions from their employers. These organizations of workers became known as labor unions. Early labor unions had little success because of the use of violence to try to get their way. Also, socialists (those who want government control of business and property) got involved in unions, which also led the unions to lose widespread public support. Labor unions had ups and downs but overall grew in the 1900s. Typical labor union demands included better wages, safer working conditions, and shorter workdays. To achieve these goals, union leaders needed the right to bargain with employers. The form of negotiation between workers and management is called collective bargaining. Under collective bargaining, representatives from a labor union meet with representatives of an employer. Each side argues for the changes it wants or does not want. Usually some sort of compromise is necessary. For example, employers may argue that meeting union wage demands will harm the company's profits. Union leaders might agree to a lower wage increase if some pieces of old and dangerous equipment is replaced. When an agreement is reached, its terms are put into a written contract for a certain amount of time. When both sides fail to reach a contract, there are other tactics that could be used by either side. Management could conduct a lockout in which workers aren't allowed in the building and no work is done that day. That would hurt workers who need to earn a wage, but also the business is not getting its profits. Workers could go on strike, or refuse to work until a contract is reached. The same problems could occur - that is workers wouldn't get their wages but the business wouldn't get its profits. Today, there are positives and negatives about unions. Unions work for equal treatment for all employees in the union, work to protect the jobs of union members against firings, and attempt to get higher wages for the workers. Negatives are that unions protect ALL workers, even unproductive or inefficient workers. In other words, if there is a union worker who is not doing a good job, management cannot just get rid of that worker but that worker is in the union. Another negative is that all workers are paid on a union scale whether or not that person works harder or is lazy. A hard worker wouldn't get paid more than a lazy worker. Many workers don't want to join a union because they want to be able to earn more money than a person that isn't a hard worker. __**QUESTION: What is the purpose of labor unions? Are unions good or bad in your opinion?**__

15. __The Free Enterprise System__: The U.S. economic system is also referred to as a free-enterprise system. Under a free enterprise system, individuals have the right to own private property and to make individual choices about how to use that property and their own creativity to make money. There are two major groups that make decisions affecting the free enterprise economy. A person who buys goods or services is called a consumer. A person or company that provides goods or services are called a producer. Many people act as both consumers and producers. In a free enterprise economy, different groups interact with each other to acquire goods, services, and resources through markets. Among these groups are households, businesses, government, financial institutions, and charities. The interaction of groups in the economy can be illustrated by the circular-flow model. An example of this model is that households sell resources to businesses and the government. In return, households receive payment, called income for those resources - we go to work and earn a living. When households sell their labor (go to work) to businesses or the government they receive wages in payment. Wages are one form of income. Businesses sell goods and services to households and the government. In return, businesses receive payment, called revenue, for the goods and services sold. The government receives tax revenue from businesses and households. It uses this tax money to provide government goods and services, as well as financial support for government programs. The circular flow consists of goods, services, and resources moving in one direction, with money moving in the opposite direction. this makes sense because we use money as payment for goods, services, and resources.

In a free enterprise system, consumers and producers are free to act in their own interests. Consumers want low prices while producers prefer higher prices. In economics, the amount demanded is the amount of a good or a service that a consumer is willing and able to buy at various possible prices during a given time period. The connection between quantity demanded for a good or service and its price is described by the law of demand. When prices go up, quantity demanded drops. When prices go down, quantity (or amount) demanded increases. You're more willing to buy something at a lower price. The connection between amount demanded and its price is described by the law of demand. Supply is the quantity of goods and services that producers are willing to offer at various possible prices during a given time period. Prices and quantity supplied are related. According to the law of supply, producers supply more goods and services when they can sell them at higher prices. When prices are lower, producers supply fewer goods and services. The interaction of supply and demand in the marketplace establishes a price at which consumers are willing to buy all of the goods that producers are willing to make. Another factor that affects prices is competition, which is the economic rivalry among businesses selling similar products. Producers compete to satisfy the wants of consumers. Producers may invent new products or improve existing products to get ahead of their business rivals. __**QUESTION: What are the most important elements of a free enterprise system?**__

16. __Natural Disasters and Economics__: Economists and government officials use economic indicators to plan changes to make the economy perform well. However, there are some events for which economists cannot prepare. At times, current events can affect the economy in ways no one expected. For example, the terrorist attacks on September 11, 2001, affected many businesses in New York City and caused the New York Stock Exchange to close for several days. The attacks also hurt the airline industry, because many Americans were afraid to fly after the hijackings. The overall U.S. economy was weakened. As Americans began to feel more confident, however, spending increased and businesses returned to normal. Even weather may affect the economy. For example, in 2005 Hurricane Katrina struck New Orleans and many other cities along the coast of the Gulf of Mexico. The hurricane disrupted port facilities and highways. Imports and exports were almost halted. Oil and gas refineries were shut down. As a result, business slowed, gas wasn't as readily available and prices increased until the economy got back to normal. In 2012, Hurricane Sandy was a "super storm" that hit New York and New Jersey. The economy was shaken by this hurricane as well. __**QUESTION: How can disasters (man-made or natural) impact an economy?**__

17. __Government Regulation__: In the United States, all levels of government - federal, state, and local - regulate business. Government regulation has five main goals: to protect workers, to protect consumers, to limit negative effects, to encourage competition, and to regulate property. Government tries to protect workers by putting in safety regulations and standards. The Equal Employment Opportunity Commission makes and enforces rules that prohibit businesses from discriminating against people when hiring and promoting workers. The government also sets standards for safe working conditions. Government protects consumers with the Food and Drug Administration (FDA), which must inspect and approve food and medicine that is sold to the public. The Consumer Product Safety Commission makes sure that items such as toys are not dangerous. The Environmental Protection Agency (EPA) is an environmental agency that looks to eliminate harmful impacts to the environment. However, in recent years the EPA has become more powerful by regulating coal and oil industries. The government also encourages competition among businesses. The Federal Trade Commission (FTC) looks over corporate behavior. The government makes sure that private property rights are protected but does have some controls over private property. Zoning laws are local borough or township laws that regulate building on private property. Some say these regulations are all necessary while others say the government has expanded its power fair beyond what the Founding Fathers envisioned. __**QUESTION: How does the government try to regulate the U.S. economy?**__

18. __Choosing a Career__: Americans have the freedom to apply for whichever jobs they like. No government official tells them where, when, and how they may work. You will learn how important this freedom of choice is as you decide on a career. You are free to pursue any kind of work that suits your interests, intelligence, and abilities. The freedom to decide which job to take is sometimes limited by economic conditions, though. During times of high unemployment, people may have to settle for less than their first choice. Yet they are still free to succeed in the jobs they have or to change jobs when the chance comes. With so many choices and opportunities, it may be hard to decide which career you would like to pursue. A good first step is to decide what is important to you in a career, and whether you have what it takes to succeed in that line of work. How people choose a career often depends on their personal values, which are things that people believe to be most important in their lives. Someone whose main purpose is to earn as much money as possible will seek an occupation that pays well. Someone else may consider helping others to be a more important aim and only feel happy in a service career. Such a person may become a teacher, health-care worker, or a social worker. Personal values play a strong role in determining a person's career choice. Before making a decision about a career, you should take a good, hard look at your own qualifications. Qualifications are the skills and knowledge that you possess. With your abilities, talents, interests, and skills, there are probably many different careers you can pursue. Learning about careers can help you narrow your choices to occupations that have a special appeal for you. Do not narrow your choices too soon, however. You may discover new and rewarding opportunities as you learn more about careers that interest you. __**QUESTION: What influences a person's career?**__

19. __What Employers Want__: Employers look for many things in a potential employee, including dedication and reliability. One of the most important qualifications, however, is a good education. One reason is that educated people are usually able to meet the challenges of new situations. To succeed in today's rapidly changing world, you will need the best education you can get. Most employers want men and women who have been trained well. In some jobs, this means being able to read well, write clearly, and solve problems. In other jobs, it may mean having special skills, like using tools and operating machinery. Still other jobs may require special training. On average, the more education you have, the higher your income. Education does not guarantee success, but it does improve your chances for earning a higher income during your lifetime. that should be a good incentive for getting a good education. Educated people have demonstrated that they are able to learn and can meet the challenges of new situations. Some students find education difficult and drop out of school. They may believe that quitting school and going to work will give them a head start in earning money. However, leaving school is the worst thing to do if you want to earn a good income. Dropouts may begin to earn money sooner than students who remain in school, but most dropouts earn very low wages. They do not have the education, training, and skills needed for most occupations that provide a higher income. Also, dropouts often find themselves without work. With every year that passes, a person who does not finish high school will find it more difficult to earn a living. Also, many tasks that were once done by less-skilled workers are now done by machines or workers in other countries. If special training is needed for a position, employers sometimes provide it on the job. The right attitude is also important. Not only do employers look for education and skills, they also look for the right attitude. Employers want to hire individuals who will make their business more successful. To that end, they want employees who are dedicated, enthusiastic, and flexible. __**QUESTION: Why is education key to getting a good job?**__

20. __**QUESTION (opinion): What career do you think you want once you graduate? Why did you choose the career you chose?**__

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