Microeconomics

Refer to attached document and answer the following questions:

1. Do you agree with the statement: money buys happiness. Why or Why not?

2. Does it make sense for people to pursue money?

3. Households demand money in order to purchase goods and services for their standard of living. Therefore the average income per household is often used to measure a country's standard of living (GDP per capita). What other factors do you think contribute to a decent standard of living?

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...raise, and vice versa. Thus they are only picking up on the temporary happiness generated by the raise, not a true increase in happiness.

However, the author proposes that we pursue it anyway! Although it makes us no better off as individuals, as a society we all prosper when people display competitive drive. This competitive drive compels us to better ourselves, and gives rise to inventions and innovations that would otherwise not exist. We would, essentially, still be in the stone age if people tended to be content with the status quo. It is the illusion of ambition that causes civilization to advance. We benefit because other people pursue money, also, because they aren't instead spending time preying on their weaker neighbors.

In light of this article, we can say that ...