Question

1. REPLY TO THIS DISCUSSION WITH YOUR ANSWER TO THE FOLLOWING: i. Mick Jagger sang, “You can’t always get what you want.” This is the essence of economics: Wants are Unlimited; Resources are not! That’s true for us as individuals, and it’s also true for societies. In the same song he also states, “And “And if you try sometime you find your get what you need.”

ii. What is barter? What problem does barter entail? Why is money as a medium of exchange so important in our society? Are you required by law to pay income taxes on barter benefits? *The IRS website at https://www.irs.gov/taxtopics/tc420.html (Links to an external site.)Links to an external site. mi...

iii. Read the article entitled "Which Legal Form Is Best for Your Business?" using the link provided here http://www.inc.com/articles/2000/06/19438.html (Links to an external site.)Links to an external site. Choose one of the legal formats listed and give 3 advantages and 3 disadvantages of utilizing it.

Answer 1

i.See wants are unlimited and resources are limited.That is true.But since resources are limited one has to work really hard to satisfy their wants.

Example-Suppose there are 50 seats for a postgraduate economics course in Oxford and there are 1000 applicants.Getting into the university is everybody's desire but only 50 applicants would actually get the admission.So,those 50 students must be better than the rest 950.It means that they must have worked harder than the other students.So as to imply-"if you work hard,you get whatever you want".

The first question and the second question is unrelated.So I'm supposed to answer only the first one.Also, your second question has too many sub parts and an expert is required to answer only the first four.Also there are links to external sites.I request you to edit the question and put it up again.