John Huynh
IT104
Homework 1

Role: Voter
1. Voters should use cost-benefit analysis to make their decisions but not everyone uses it. There will be a lot of voters making the same decision but every voter will make the same decision. There are many factors in the decision making but it differs for each voter.
2. Some of the decisions made by representatives are budget, new laws and many more, most of which are aimed for the wellbeing of the people.
3. It is necessary for voters to be informed and educated to make the right decision. Given the chance to vote, a voter should have all the information to make the best decision.
Role: Entrepreneur
1. Entrepreneur creates job and bring in income for the city or state through taxes. Without Entrepreneur there would be major impact on the economic system. Big businesses often need the small businesses in order to stay in business.
2. It really doesn’t matter if the resources are scarce or not. Most entrepreneur care more about maximizes the profit and little about what type of resources is used.

Role: Taxpayer
1. Higher tax on gasoline mean little these day. Regardless if gas goes over $5 a gallon people still need to buy gas to get to work and to do their daily chores.
2. It could swing both ways. It all comes down to the individual, if they need the money they will put in more hours and if they don’t need the money then why should they work more if they are getting paid less per hour.
3. Of course it’s important for government to understand the importance of each tax for each taxpayer. Sometime you can’t tax one individual too much and the other too little but it is necessary to set the right tax rate or the big corporations move overseas.
Role: Investor
1. Investors play a very important role in the economy. Bad investing can drive the economy to the ground but without investor the economy doesn’t