Essay on The Impact Of Economics On My Life And Influence On Life

1173 Words Oct 6th, 2015 null Page
The first time I realized that Economics is so close to our everyday life is when my grandfather put couple yuan to his empty cigarette box and gave that for snacks payment. This is the first time I may spend money and consider independently how to maximize the utility of money I have. Even though it’s just couple yuan, I can buy playing cards, popsicles or other snacks. Considering the rule of playing cards, if I played really well, I can earn cards from others. I spent half of my money buy new cards, only small amount of money left buying popsicles for me and friends, and saved what left. At that time, I don’t understand what is maximizing the utility under limited resources and how to use calculation to realize that maximum status. However, after all these years of learning, I realized that how close the economic theory are applied in our life and influence our living.

Even though I was born in a city, I spent most of my childhood in my grandparents’ place, a small town in the inner Mongolia area. Many people there still live on grazing animals on prairie, and they sell their animals and dairy product in the country-fair, which every one trade their product every Saturday. Some of the traders even still barter their products. People trade their rice or flour for beef and milk. Buyer is the seller at the same time in the trading. Even though I was little at that time and I went there because I love the lively crowd, I still clearly remembered the lively trading scene,…

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