finance assignment 1
Assignment 1:
Part 1: Economic Basics
(10.0 points)
Please BOLD/HIGHLIGHT your answers to make it easy for me to see your answers.
1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points)
It makes a plan for you to save money in order to buy a house, a car, go to college or afford to move into an apartment. I would like to start saving money so I could be able to move out on my own and also to buy a car because right now I have to have my parents take me anywhere I want to go.
2. Imagine that you are considering moving to a new country and looking for a job there, but you first want to make sure the country has a strong economy. Describe at least three economic factors that you would want to research as evidence of the economy's strength or weakness, and explain how each factor would affect your decision to move there. (4-6 sentences. 3.0 points)
3. Explain which economic system (market, planned, mixed, or traditional) you think is best for consumers. Describe at least one reason why you think this system is best for consumers. (4-7 sentences. 3.0 points) 4. In capitalism, most businesses have a profit motive. Describe at least one reason that businesses with a profit motive may be helpful for society and at least one reason that they may be harmful for society. Then, explain whether you think profit motive is a good thing or a bad thing for society. (4-7 sentences. 2.0 points) Part 2: Financial Planning
(8.0 points)
1. In your doc sharing folder, navigate to and open the Example_W-2. Use it to answer the questions below.
a. What is the name of Jessie Robinson's employer? (0.5 points)
b. What is the total gross income Jessie received from this employer? (0.5 points) TIP: This is in the box labeled Wages, tips, other compensation.
c. How much did Jessie's employer withhold for federal income tax from Jessie's paycheck? (0.5
Part 1: Economic Basics
(10.0 points)
Please BOLD/HIGHLIGHT your answers to make it easy for me to see your answers.
1. Describe two examples of important things that financial planning skills can help you do, and explain why these things are important to you personally. (4-6 sentences. 2.0 points)
It makes a plan for you to save money in order to buy a house, a car, go to college or afford to move into an apartment. I would like to start saving money so I could be able to move out on my own and also to buy a car because right now I have to have my parents take me anywhere I want to go.
2. Imagine that you are considering moving to a new country and looking for a job there, but you first want to make sure the country has a strong economy. Describe at least three economic factors that you would want to research as evidence of the economy's strength or weakness, and explain how each factor would affect your decision to move there. (4-6 sentences. 3.0 points)
3. Explain which economic system (market, planned, mixed, or traditional) you think is best for consumers. Describe at least one reason why you think this system is best for consumers. (4-7 sentences. 3.0 points) 4. In capitalism, most businesses have a profit motive. Describe at least one reason that businesses with a profit motive may be helpful for society and at least one reason that they may be harmful for society. Then, explain whether you think profit motive is a good thing or a bad thing for society. (4-7 sentences. 2.0 points) Part 2: Financial Planning
(8.0 points)
1. In your doc sharing folder, navigate to and open the Example_W-2. Use it to answer the questions below.
a. What is the name of Jessie Robinson's employer? (0.5 points)
b. What is the total gross income Jessie received from this employer? (0.5 points) TIP: This is in the box labeled Wages, tips, other compensation.
c. How much did Jessie's employer withhold for federal income tax from Jessie's paycheck? (0.5