1. What is a progressive tax system? How does it differ from a
regressive tax system?
A progressive tax system is a system in which the higher your income
is, the more you pay. However, with a Regressive tax system everyone has to
pay the same tax amount
1.What is the average debt for individuals 22-29?
The average debt for this age group is $16,120.
2. Why is it important to think about "needs" and "wants"? What are
the differences between these?
Need are things like shelter, food, water. Wants are thing
1. What is a barter system?
A Barter System is a system that features a direct exchange of goods
without the use of money or a middle man. This system lets people trade
goods to receive what they need.
2. What is the principle of supply
1. What does Gerzema argue that consumers are doing?
It's not about the consumer being in retreat. The consumer is
empowered. In order to understand this, we're going to step back and look a
little bit at what's happened over the course of the last year a
1.What are the four categories that you need to separate your
expenses into? Which one do you think makes up most of your own
Food and drink, transportation, clothing and entertainment. I think
entertainment makes up most of my expenses bec
1. What is the most important thing that you can do when saving
You can save 10 to 15% of your income into an account for
emergencies and extra living expenses. This makes it so that you have
money when you really need it, instead of just spending