Assignment 1 BACC101A
Assignment 1 BACC101A
1. Give your reaction to the quote below based from your own experience given the
current situation. (maximum of 6 correct sentences)
“In economics, the micro decisions of individual businesses and households are
influenced by whether the macroeconomy (entire economy ) is healthy”
Answer:
By making micro decisions, there is a need to see first the bigger picture and
carefully analyze the on how those decisions will have an effect as a whole. Knowing the
employment and unemployment rate in the economy can be considered as a factor in
determining decisions to employment in individual businesses and industries. Consumer
prices and rate of inflation can also be factors in determining if an economy is healthy.
By knowing the consumer prices of an economy, individual households can assess on
how they will budget their monthly expenses. Understanding the economy in a larger
scale helps consumers decide in their micro decisions.
2. A computer systems engineer could paint his house, but it makes more sense for him
to hire a painter to do it. Explain why. (5 sentences only)
Answer:
The job is to paint the house so the more sensible answer to that is to have a
painter do it. A computer system engineer also has the knowledge and capability to
paint the house but it is not his profession. It is best to let a professional do the job to
avoid mistakes. Everyone has a part in the society and economy and every individual has
the responsibility of fulfilling that role. A computer system engineer and a painter each
have their part and they must do it individually.
3. What is the most important decision you have done so far? Why? What have you
given up for this critical decision?(3 sentences)
Answer:
The most important decision I made so far is the shifting of courses. All my life I
have always been doing what may father tells me and shifting courses was never an
option but to have made this decision was a big step for me out of the comfort zone.
The opportunity of graduating in BSA and being an accountant is what I’ve given up to
pursue on what I want.