Social vs Economic Incentives

9 02 2011

Response Questions

  1. What types of choices are best influenced by social decisions?
  2. What types of choices are best influenced by economic decisions?
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3 responses

10 02 2011
dmitritk

I don’t want to seem like I don’t do homework, so I am just going to write a little note that I do not understand what these questions are asking 😩 (sad face)

10 02 2011
dmitritk

ok after thinking about it i think that :
1. We live in a social world where we do people favors to maintain our reputation, maintain the way we think about ourselves and others thing about us. Even though we spend money on gifts and stuff which means us losing money, we gain something very valuable which is social relationships.
2. We also live in the financial world where we work for money. So when we do not involve money into something, usually that’s a part of the social world. But when we try to put a money value on time, decisions on helping someone change because we compare the money we are given to our regular salaries. Its like the saying “time is money” and if we don’t get enough money, it is not worth out time.

10 02 2011
Linda Lei

1. Choices that are best influenced by social decisions can be vary because we are around with different types of people everyday, we can be affected by people and their behaviors consistently. For example, peer pressure can boost up student’s energy to study hard which they make their own choices of working harder to exceed peers and even switch classes if their friends are not in the classes.
2. I think that this is a question that has to depends on the circumstances to answer it because we can deal with economic decisions everyday in our life. be cause money is essential supply for us to use in our daily life. If I want to buy a ACER laptop instead of HP laptop which means is that I will spend less money to buy it.

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