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1.1 What economics is and why it's important Read Online
1.2 Microeconomics and macroeconomics Read Online
1.3 How economists use theories and models to understand economic issues Read Online
1.4 How economies can be organized: an overview of economic systems Read Online
To post or not to post? Every day we are faced with a myriad of decisions, from what to have for breakfast, to which route to take to class, to the more complex—“Should I double major and add possibly another semester of study to my education?” Our response to these choices depends on the information we have available at any given moment; information economists call “imperfect” because we rarely have all the data we need to make perfect decisions. Despite the lack of perfect information, we still make hundreds of decisions a day.
And now, we have another avenue in which to gather information—social media. Outlets like Facebook and Twitter are altering the process by which we make choices, how we spend our time, which movies we see, which products we buy, and more. How many of you chose a university without checking out its Facebook page or Twitter stream first for information and feedback?
As you will see in this course, what happens in economics is affected by how well and how fast information is disseminated through a society, such as how quickly information travels through Facebook. “Economists love nothing better than when deep and liquid markets operate under conditions of perfect information,” says Jessica Irvine, National Economics Editor for News Corp Australia.
This leads us to the topic of this chapter, an introduction to the world of making decisions, processing information, and understanding behavior in markets —the world of economics. Each chapter in this book will start with a discussion about current (or sometimes past) events and revisit it at chapter’s end—to “bring home” the concepts in play.
In this chapter, you will learn about:
What is economics and why should you spend your time learning it? After all, there are other disciplines you could be studying, and other ways you could be spending your time. As the Bring it Home feature just mentioned, making choices is at the heart of what economists study, and your decision to take this course is as much as economic decision as anything else.
Economics is probably not what you think. It is not primarily about money or finance. It is not primarily about business. It is not mathematics. What is it then? It is both a subject area and a way of viewing the world.
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Question: What is the problem with failing to credit your sources of information or visuals in a business presentation?
Choices:
It is plagiarism.
It could be considered fraud.
It could result in embarrassment.
It could increase your anxiety.
All of the above
Question: Which of the following is an example of how role identities can become a barrier to effective communication?
Choices:
A recent German immigrant discusses social mobility in Europe with an audience of Canadians.
A business executive is the guest lecturer for a graduate-level class studying supply-side economics.
A nurse shows a group of diabetic children how to help their parents choose healthy foods when they go shopping.
A woman argues to a jury that is half men and half women that a convicted rapist should receive the maximum penalty.
A teenager whose father suffers from post-traumatic stress syndrome (PTSD) is the guest on a radio show in which the host asks her many questions about the impact of PTSD on its victims.
Question: What is the first aspect of developing a speech which you must acknowledge before planning anything else?
Choices:
Why you are speaking
Who your audience will be
When you will speak
Where you will speak
What your topic will be
Question: Charles does not think that the overweight African-American woman who has been asked to lecture on preparing horses for an international competition can provide useful information, so he gives his ticket to someone else, who proceeds to enjoy the lecture. Which of the following is it most apparent that Charles succumbed to?
Choices:
Stereotyping
Prejudice
Ethnocentrism
Both A and B
Both B and C
Question: Aimee wants to present an informative speech on global warming, but because of the community where she will speak, she knows it is likely that most of her audience will disagree with the information she provides, even if it is the first time they have encountered the information. Given the steps in the process of planning a speech, should Aimee proceed with her plans?
Choices:
No, because asking "Will my topic be interesting to my audience" is an important step.
No, because her general purpose with that audience should be to persuade, not to inform.
No, because dealing with their resistance will make it impossible for her to cover the topic in the time allotted.
Yes, because disagreement and disinterest are not the same emotions.
Yes, because the general purpose of a speech is determined by the speaker, not the audience.
Question: A declarative statement that captures the main idea of a speech while using specific language and reflecting the characteristics of the speech's intended audience is called what?
Choices:
A thesis statement
A speech map
A rhetorical situation
An audience platform
An attention-getter
Question: Laetitia is representing a solar panel company at a home builder's convention. Her job is to explain to builders how easy it is to install rooftop solar panels, so they will recommend the product to their clients. What is the general purpose of Laetitia's presentation?
Choices:
To inform
To persuade
To demonstrate
To entertain
To perform a ritual
Question: Documents used to support the main idea of a speech should represent good reasoning and effective communication techniques. Which of the following would disqualify a document based on that standard?
Choices:
A document that draws conclusions based on inferences or interpretations of the data it presents
A document that addresses a problem or controversy
A document that articulates a specific frame of reference or viewpoint
A document that does not identify the assumptions, concepts, or ideas its content is based on
All of the above
Question: Which of the following is NOT a general purpose for a speech?
Choices:
To inform
To demonstrate
To persuade
To entertain
None of the above
Question: According to the textbook, if you determine that the purpose of your speech is to both inform and persuade, what is the next step you should take?
Choices:
Analyze your audience.
Merge the two purposes into a demonstration speech.
Identify who, what, and where you will be speaking.
Re-evaluate the assignment or goal to so you only have one purpose.
Organize, focus, prepare, and deliver.
Question: What is an effective way to adapt your speeches to diverse settings?
Choices:
Avoid expressing your values to audiences you are unfamiliar with.
Find opportunities to learn about other cultures.
Be prepared for problems with conflicting perceptions.
Never speak to diverse audiences if you will not be able to clarify your material with question-and-answer periods.
Warn your audience that they may be uncomfortable with some of your speech's contents.
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