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Farnum 12 key elements of economics

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  • In this picture people don't look at the side effects when dealing with situations. People only think about what they get out of now but, don't care what happens later. http://thumbs.dreamstime.com/x/side-effects-magnifying-glass-pill-bottle-19251161.jpg

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    thomas farnum
  • The invisible hand secretly controls how some things work in the economic world for example, in this picture the hand is running on auto pilot.

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  • Most people use amazon for good investments and trades because, amazon is a better economic institution so more people will use it. http://www.turnerduckworth.com/media/filer_public/b4/ac/b4ac5dfe-b335-403c-83b2-ec69e01f94e6/td-amazon-hero.svg

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    thomas farnum
  • This restaurant is an example of high valued production of goods and services because, it makes money through the value they have in their products they sell. http://www.you-are-here.com/building/hospital.jpg

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    thomas farnum
  • Oprah is a great example of how people earn income by helping others. She helps others on her tv show for nothing but, makes an income doing it by the network paying her to do the show http://cdn.rsvlts.com/wp-content/uploads/2012/08/average-people-earn-money-doing-things-they-dont-love-rich-people-follow-their-passion.jpeg

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    thomas farnum
  • in this picture the business who created the phone is making profit from the second phone they created with apps which lead them to an activity that increased more wealth. http://socialsaleshq.com/wp-content/uploads/2015/01/social-media-sales.jpg

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    thomas farnum
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