Marriage

Marriage is just like any other choice or decision that you make. Is also making an economic decision. People may think that marriage isn’t as important as other things in this economic world but truly, in economics, everything is just as important. In the text Anderson states “Searching for a marriage partner involves making a decision about whether to pursue a relationship on the basis of an initially meager number of signals. As in the choice of a doctor, a college, or a bottle of wine under uncertainty, consumers seek indicators of the relative value of the available alternatives”. This proves that marriage or engagement shouldn’t be overlooked or ignored. Social price has alot to do with marriage because some people tend to look at marriage or engagement in different ways either economically or looks. In other other words just looking at the standard for success, on the contrary some people may look at the opposite such as the actual person in general. The author illustrates this point when he said “What does it take to win someone’s heart? For some people the answer may involve money, but for many, successful courtship has more to do with things such as kindness, intellect, humor, romantic gestures, appearance, and the ability to contribute to a happy marriage. People being courted must decide what efforts and qualities will win them over; such a standard for successful courtship has been called a social price. As extremes, someone with high standards has a high social price; someone who acts desperate has a low social price”. This explains how social price is involved in marriage and how it works in this type of environment. In conclusion the author (Anderson) demonstrates the importance of marriage and how it invloves different decision making.

Questions :

  1. what are some things you can compare with marriage and other important economic topics?
  2. Could social prices be a result of how attracted you are to a person?
  3. are incomes involved when it comes to social prices?

Economics

In economics chapter 1 it talks about how economics is all over the world literally & there are many interesting points that the author David A. Anderson includes about economics. For example, in the text it states ”Economics is above you in airplanes, below you in coal mines, behind the fabric content of your clothing, and underpinning the politics of your nation (Anderson pg 1)”. This proves that someway somehow everything involves and runs through economics.

Questions: – Do people who are trained with economics always make the correct recommendations or the best argument?

  • Can Economics in some way solve family issues that involve arguments about anything for example, school , job , responsibilities etc?
  • What’s one way economics could be improved?