Use the following questions as a guide to help you write your paper:
Housing: Compare the costs of housing over time in the area where you live. How and why has it changed? Is a three bedroom house in California better than a three bedroom house in Montana? How is the measurement of value for these properties derived?
Goods and services: What determines the value of a commodity or service? For what things do you pay more, even when you could buy them cheaper elsewhere? Does the brand of a product add or subtract value or worth? Compare the cost of living in different areas of the world. How does the measurement of money play a role in determining this figure?
Salaries: What changes have you seen in salaries over time? Why? How do we measure the value of a person s job? Think about the rookie baseball player who earns $5 million a year compared to the veteran teacher who earns only $60,000 a year. Does the money they earn measure their worth? What jobs would you not do no matter what the employer paid you? Why? Who determined the salary for your current job or a job you had in the past? How was the salary determined? Does your salary measure your worth? If you have never been employed, answer these questions based on a family member s salary.
Write a 1,050 to 1,750 words. Provide a conclusion summarizing how the agreement between price and value is made.