Blog 3

Part 1;
This week we learned about marginal analysis and production possibilities. Marginal analysis is what is used to explain why Swy, doctors are paid more than a Mc. Donalds cook. Because doctors have higher capabilities and are more in demand as a necessity. And production possibilities are the most products that can be made based on opportunity costs and the workers are working to their best abilities and no less.

Part 2;
In the fast food industry, unless you are a CEO or manager, you will get paid minimum wage because you need less skills to flip burgers or take peoples orders. Whereas you need many more skills to be a doctor or even an athlete and those pay more for those particular skills.
Part 3;
1. For a future job I want to become a police officer, even though it doesn't pay loads it still pays more because you have to acquire certain skills for the job; as chapter six would agree because police force training is much more scare than asking "would you like fries with that?"
2. The start off salary for it is 56,980 and the required education is a highschool diploma or g.e.d (but it's good to go to college in law enforcement)
3. I plan on going to college and learn all I can and graduate with a bachelors degree in Law Enforcement. The costs is the money and time I will have put into college to get a job that doesn't really need it, but it will most likely make me more desirable based on my knowledge of the law. Plus if the police force doesn't want me there are plenty of fall back jobs that I would be more equipped for like lawyer, judge, detective or even FBI.
4. Chapter 6 clearly states that they can be and are paid so low because the job requires very little from them and they don't need any specific, hard skill to do the job and even do it well. So they are paid minimum wage because the skills required are not scarce and if they don't like the pay and they quit then someone else will be happy to step in and take that job.