...CHAP 1. TEN PRINCIPLES OF ECONOMICS I. Introduction A. The word “economy” comes from the Greek word oikonomos meaning “one who manages a household.” B. This makes some sense because in the economy we are faced with many decisions (just as a household is). C. Fundamental economic problem: resources are scarce. D. Definition of scarcity: the limited nature of society’s resources. E. Definition of economics: the study of how society manages its scarce resources. II. How People Make Decisions A. Principle #1: People Face Trade-offs 1. “There ain’t no such thing as a free lunch.” Making decisions requires trading one goal for another. 2. Examples include how students spend their time, how a family decides to spend its income, how the U.S. government spends tax dollars, and how regulations may protect the environment at a cost to firm owners. 3. A special example of a trade-off is the trade-off between efficiency and equality. a. Definition of efficiency: the property of society getting the maximum benefits from its scarce resources. b. Definition of equality: the property of distributing economic prosperity uniformly among the members of society. c. For example, tax dollars paid by wealthy Americans and then distributed to those less fortunate may improve equality but lower the return to hard work and therefore reduce the level of output produced by our resources. d. This implies that the cost of this increased equality is a reduction in...
Words: 1792 - Pages: 8
...It was the first day of school, Ethan Weiman moved from Las Angeles, California to a small town called Arrowholde in New Jersey. He moved to live with his grandparents, Mildred and Robert. His parents, Lisa and Cody, were firefighters in California. They had died about a month ago during a big wildfire, back in Las Angeles. He woke up, went into the bathroom and looked into the mirror. He couldn’t see himself clearly without his glasses. He grabbed his glasses off of the counter and put them on. He could see himself again. He could see his chocolate brown hair, emerald green eyes, and his pearly white teeth. On the ride to school, he couldn’t stop fascinating about the scenery. He saw big tall trees that blocked out some sunlight; He saw...
Words: 1596 - Pages: 7
...The Virginia Driver’s Manual will help you learn and understand safe driving practices. Study this manual to prepare for the knowledge test, obtain a Virginia driver’s license and become a safe driver. The information contained in this manual should be used as a general guide to the motor vehicle laws but not as a substitute for the Code of Virginia, which contains the laws that govern Virginia drivers and vehicles. If you are learning to drive, this manual will give you information you need to study for the knowledge exam. If you already have a Virginia driver’s license, review this manual for new laws or rules of the road. Driving is a privilege, not a right. Your driver’s license carries with it a great responsibility to be courteous of other drivers on the roadways and follow state and federal motoring laws. This manual is also available on the DMV website, www.dmvNOW.com. DMV offers the Virginia Driver’s Manual in an audio format for Virginians with special needs. The audio version is available at www.dmvNOW.com. Virginia Driver’s Manual: Table of Contents Section 1 – Testing Two-part knowledge exam .................................................3 Road skills test ...................................................................4 Vision screening .................................................................4 Vision standards ....................................................4 Traffic signals..........................................................
Words: 19649 - Pages: 79
...Nashville, Tennessee 37202 Service Locations to Obtain or Renew Your License: To provide the best possible service, the Department of Safety has Driver Service Centers located throughout the state, open on different days, with expanded operating hours. We have offices open Monday through Friday, Monday through Thursday, as well Tuesday through Friday; to allow for expanded hours of operation to accommodate our customer’s needs and schedules. To find the nearest location with the service days and operating hours that best fit your needs, go to our website at tn.gov/safety or by calling toll-free 1-866-849-3548. TDD assistance for the hearing impaired can be provided by dialing 615-532-2281 (Telecommunications Device for the Hearing Impaired). i INTRODUCTION This Tennessee Comprehensive manual has been divided into three (3) separate sections. The purpose of this manual is to provide a general understanding of the safe and lawful operation of a motor vehicle. Mastering these skills can only be...
Words: 85125 - Pages: 341
...Nashville, Tennessee 37202 Service Locations to Obtain or Renew Your License: To provide the best possible service, the Department of Safety has Driver Service Centers located throughout the state, open on different days, with expanded operating hours. We have offices open Monday through Friday, Monday through Thursday, as well Tuesday through Friday; to allow for expanded hours of operation to accommodate our customer’s needs and schedules. To find the nearest location with the service days and operating hours that best fit your needs, go to our website at tn.gov/safety or by calling toll-free 1-866-849-3548. TDD assistance for the hearing impaired can be provided by dialing 615-532-2281 (Telecommunications Device for the Hearing Impaired). i INTRODUCTION This Tennessee Comprehensive manual has been divided into three (3) separate sections. The purpose of this manual is to provide a general understanding of the safe and lawful operation of a motor vehicle. Mastering these skills can only be...
Words: 85125 - Pages: 341
...Connecticut takes pride in its highway safety initiatives and efforts to make the roads safer for all who use them. This work involves driver licensing and ensuring that new and renewing drivers are aware of safety’s critical role when behind the wheel. For the state’s youngest drivers, obtaining your license is a time of joy and freedom, but it comes with great responsibility. Two years ago Connecticut imposed tougher teen driving laws for 16and 17-year-old drivers. These laws, along with stiffer penalties, were put into place to keep you safe on the road as you learn and become a more experienced driver. It takes time and practice. We hope you understand that the laws and penalties are in place to help reduce crashes, injuries and deaths. We want to remind all license holders that driving is a privilege and not a right. Connecticut has specific laws, such as speeding, driving too fast for conditions, reckless driving, driving under the influence, and others that aim to protect all people on the road whether vehicle drivers, passengers or pedestrians. Distracted driving, including the use of phones while driving, has been noted as a contributing factor in many serious accidents. We urge all drivers to remain focused on the task at hand – operating the motor vehicle safely when under your control. Driving is a constant learning experience and it takes complete concentration at all times. Connecticut will be a safer place for all to drive if everyone drives more carefully. Both new drivers...
Words: 36975 - Pages: 148
...you will be on your way to an enjoyable and safe driving experience. Remember to always wear your seatbelt, require the same of passengers and make sure that all children are secured in a federally approved child restraint seat. Obey Kentucky’s traffic laws. They are on the books to protect the safety and well being of everyone who travels throughout the Bluegrass State. Best wishes for a safe and pleasurable driving experience. Sincerely, Steven L. Beshear Governor KentuckyUnbridledSpirit.com An Equal Opportunity Employer M/F/D C O M M O N W EALTH O F KEN TU C KY KENTUCKY STATE POLICE Rodney Brewer Commissioner Dear Kentucky Driver, The Kentucky Drivers Manual has been prepared by the Kentucky State Police to provide you with the knowledge and basic skills to become a safe and courteous driver. By thoroughly studying this manual, you will develop good driving habits and a better understanding of the traffic laws of Kentucky. It should be your goal to learn everything you can before starting your driving career. By committing yourself to this goal, you will in turn make the roadways of Kentucky safer for everyone. I would like to remind you that Kentucky law requires the use of safety belts and approved child restraint seats. These laws were passed to protect you and your passengers and they...
Words: 28400 - Pages: 114
...DPSMV2052 (R042013) Message from the Commissioner “Welcome to driving in Louisiana.” I am pleased to present the Louisiana Driver’s Guide to our new and current drivers. This guide is designed to provide you with the rules of the road, knowledge to assist you in making better driving decisions, and valuable information on safety and sharing the road with others. It is incumbent upon you, the driver, to respect all traffic laws and other drivers as well. Driving is a vital part of life. It provides you with a means of attaining the necessities of daily living as well as providing you with the added convenience to move about at leisure. The driving experience, however, is a privilege and comes with great responsibilities. Please strive to become a safe and dependable driver to ensure that this privilege is not lost. Driving, the same as life, is a constant learning experience. The information contained in this guide, along with your experience and responsive actions while driving, will assist in protecting you, your family, and other drivers. This guide is not intended to be an official legal reference to the Louisiana traffic laws. It only highlights those laws, driving practices and procedures that you will use most often. It should be noted that the material in this guide is subject to change to comply with amended State and Federal legislations. Remember to buckle up. Safety belts save lives. Let’s work together to make Louisiana a safer place for all. Stephen F. Campbell ...
Words: 59152 - Pages: 237
...OF MOTOR VEHICLES Message from the Commissioner “Welcome to driving in Louisiana.” I am pleased to present the Louisiana Driver’s Guide to our new and current drivers. This guide is designed to provide you with the rules of the road, knowledge to assist you in making better driving decisions, and valuable information on safety and sharing the road with others. It is incumbent upon you, the driver, to respect all traffic laws and other drivers as well. Driving is a vital part of life. It provides you with a means of attaining the necessities of daily living as well as providing you with the added convenience to move about at leisure. The driving experience, however, is a privilege and comes with great responsibilities. Please strive to become a safe and dependable driver to ensure that this privilege is not lost. Driving, the same as life, is a constant learning experience. The information contained in this guide, along with your experience and responsive actions while driving, will assist in protecting you, your family, and other drivers. This guide is not intended to be an official legal reference to the Louisiana traffic laws. It only highlights those laws, driving practices and procedures that you will use most often. It should be noted that the material in this guide is subject to change to comply with amended State and Federal legislations. Remember to buckle up. Safety belts save lives. Let’s work together to make Louisiana a safer place for all. Stephen F. Campbell ...
Words: 59099 - Pages: 237
...I. THE COMMON SENSE OF DRIVING Keeping a point off your DMV record is not the only thing that occurs when you successfully complete this Traffic Violator Course. You will increase your knowledge of California's driving laws as well. Why is that important? When your safety is at risk, raising your driving consciousness is always beneficial. The unfortunate truth is many drivers get tickets simply because they are not paying attention or have forgotten some rule of the vehicle code. In other words, what you are about to read can save you money by helping you to avoid breaking the law, receiving a traffic citation, and having to pay the penalty. But more important, what you are about to read can easily save your life… or someone else's. A. THE SERIOUS RESPONSIBILITY OF OPERATING A MOTOR VEHICLE When you get behind the driver seat, you’re not just driving a car. You are driving a 2,000 pound plus piece of machinery. The lives of your passengers and all other drivers and pedestrians around you on the road are at risk. Driving is the most dangerous thing you do on a daily basis. One little mistake at any speed, whether at 65 mph or 35 mph, can be deadly. As a driver, your responsibility is not only to respect the law but also to appreciate the risks when you operate your vehicle, risks both to yourself and to the other drivers with whom you share the road. Yes, the key word here is SHARE. 1. MOTOR VEHICLE IS A WEAPON You don‘t believe that? Any object that weighs...
Words: 49757 - Pages: 200
...A Message to Massachusetts Motorists from Erin C. Deveney, Registrar of Motor Vehicles Dear Motorist, The MassDOT Registry of Motor Vehicles recognizes that the work we perform impacts you and nearly every person in the Commonwealth of Massachusetts. We give our customers the joy of getting their first license. We register vehicles that take people all over the state for work, school, to access medical care and for exciting and important events in their lives. We also have the very serious responsibility of making sure all drivers, as well as the vehicles on our roadways, are safe and fit to operate. The RMV is committed to providing you with efficient, reliable and professional customer service. The Driver’s Manual prepares you for your driving career and also for doing business with the Registry. It includes requirements for transactions we provide, as well as service options and branch location information. To serve you better, we offer 27 transactions and services via our website, www.massrmv.com. Online services bring the RMV to you. Today, you are also able to schedule a return phone call via 857-DOT-8000 for a time that works for you. We have expanded the number of AAA locations offering Registry renewal services through an innovative public-private partnership. We are introducing self-service FasTrack kiosks for license and identification card renewals and duplicates so you spend less time in line. As we improve our service delivery, www.massrmv.com will...
Words: 67296 - Pages: 270
...Whether you have questions about the documents you need to apply for a driver’s license, how to renew a registration, or when you need to have your vehicle inspected, the answers are all in here. I encourage you to read it thoroughly and keep it handy as a future resource. The RMV Driver’s Manual can help you prepare for a visit to one of our branches, our website, or a phone call to our customer service center. We know from experience that informed customers help us provide quicker, more efficient service and reduce the possibility of a return visit. I encourage you to utilize our virtual branch before you stand in line, as most routine RMV services can be completed through the Internet. The RMV has also included all the rules of the road that apply to motoring on the roads of the Commonwealth in an effort to help reduce crashes and injuries. In today’s world, although some people choose to travel using healthy transportation modes of walking, bicycling, or mass transit, many residents need to rely on motor vehicles. Yet owning a vehicle and holding a driver’s license are privileges that come with a good deal of responsibility. Your behavior as a motor vehicle operator not only affects other motor vehicle operators, but also has serious consequences for pedestrians and bicyclists. I urge you to not only become familiar with the laws but always act responsibly behind the wheel. The RMV has a professionally-trained staff of dedicated...
Words: 65404 - Pages: 262
...how was your weekend, Don? B: Well, I wanted to go dancing with my girlfriend but she was too tired to go out. A: So what did you do? B: We just stayed home and watched TV. 2. A: I had a great weekend. B: What happened? A: I met this really terrific girl and I think she likes me. B: Really? A: Yeah, we’re going out next weekend. B: All right! 3. A: What did you do last weekend? B: Umm, I spent most of the time at the gym. A: How come? B: Well, I plan to enter a bodybuilding competition next month. A: Gee, I didn’t know you were a bodybuilder. B: Yeah. Want to see my muscles? 4. A: So, what was your weekend like? B: Not very good. My brother came over. A: Yeah? B: Well, he’s got three young boys. I spent all weekend playing computer games with my nephews. Now I’m exhausted. A: I’ll bet! 5. A: Did you have a nice weekend? B: Mmm. Not too bad. A: Did you do anything special? B: Well, I saw a really good movie. A: Who with? B: Oh, I don’t think you know him. It’s this really good-looking guy I just met. 6. A: Did you have a nice weekend, Teresa? B: It was okay. A: So what did you do? B: Well, I met some friends on Saturday and we rented a video. A: How about Sunday? Did you see the World Series on TV? B: The what? A: The baseball game. B: Oh. No, I was too tired. I slept most of the day. A: You’re kidding! You missed a really great game. 3. Let’s Listen (Page 3) 1. A: So, how was your weekend? B: Oh, I went to see that new science-fiction...
Words: 26948 - Pages: 108
...2.3 Effects of Different Types of Drugs Review There are several types of drugs. Never drive a motor vehicle after taking a substance which alters the central nervous system. This includes over-the-counter, prescription, and of course, illegal drugs. The following categories of drugs have known side effects that include impaired attention, reaction time, and vision: * Antihistamines * Pain Relievers * Tranquilizers * Hallucinogens * Stimulants * Narcotics It is very dangerous to combine alcohol and other drugs. Synergism occurs when the effect of one drug is enhanced by the presence of another drug. A multiplying rather than additive effect may occur. It takes more ounces of beer than whiskey to become impaired, but people tend to drink more beer (total ounces) than whiskey. Regarding the servings of assorted alcohol beverages, they all have differing amounts of alcohol. Beer actually has more alcohol than whiskey and coolers are even stronger. There are also an infinite number of ways to mix alcoholic beverages so a drink by drink comparison can only be made when size and alcohol content of the drinks involved are known. Alcohol is a toxic substance. The use of alcohol has no benefit to the body or society. Abuse or excessive consumption of alcohol or other drugs affects the physiology of the body in many ways. If a body becomes accustomed to the presence of alcohol continuously, a physical dependence develops and changes in...
Words: 39078 - Pages: 157
...how was your weekend, Don? B: Well, I wanted to go dancing with my girlfriend but she was too tired to go out. A: So what did you do? B: We just stayed home and watched TV. 2. A: I had a great weekend. B: What happened? A: I met this really terrific girl and I think she likes me. B: Really? A: Yeah, we’re going out next weekend. B: All right! 3. A: What did you do last weekend? B: Umm, I spent most of the time at the gym. A: How come? B: Well, I plan to enter a bodybuilding competition next month. A: Gee, I didn’t know you were a bodybuilder. B: Yeah. Want to see my muscles? 4. A: So, what was your weekend like? B: Not very good. My brother came over. A: Yeah? » B: Well, he’s got three young boys. I spent all weekend playing computer games with my nephews. Now I’m exhausted. A: I’ll bet! 5. A: Did you have a nice weekend? B: Mmm . Not too bad. A: Did you do anything special? B: Well, I saw a really good movie. A: Who with? B: Oh, I don’t think you know him. It’s this really good-looking guy I just met. 6. A: Did you have a nice weekend, Teresa? B: It was okay. A: So what did you do? B: Well, I met some friends on Saturday and we rented a video. A: How about Sunday? Did you see the World Series on TV? B: The what? A: The baseball game. B: Oh. No, I was too tired. I slept most of the day. A: You’re kidding! You missed a really great game. 3. Let’s Listen 1. A: So how was your weekend? B: Oh, I went to see that new science-fiction...
Words: 24958 - Pages: 100
