Impact of Economics on Daily Living

 

Criteria for Success: In this assignment, you will:
Identify a relevant economic concept and describe how it applies to the scenario.
Summarize the change in expenditures between budgets.
Record the ways in which economic trends impacted personal income and consumer prices.
Explain the rationale for budget decisions made in response to economic changes.
Explain an additional economic trend or change from within the last year and how it has impacted your personal life and finances.

Sample Solution

Phase Two was launched shortly after and the British lines formed a salient and joined the French. The Germans were able to launch counter attacks, further fortify and dig new trenches, and bring in fresh troops as they held direct observation of the Allies. The German counter-attacks caused the Allies to pause and relieve troops and for more ammunitions to be moved forward. All of these factors did not allow the Allies to catch the Germans by surprise. Sir Douglas Haig stated, “The enemy’s counter-attacks were incessant and frequently of great violence, but they were made in vain and at heavy cost to him” (“Sir Douglas Haig, British Commander-in-Chief in France and Flanders, 2nd Dispatch”, 17). Instead the French and British combined to attack Guillemont because the German forces fought hard and aggressively so neither army could capture it on their own. Eventually, Guillemont was stormed and overtaken along with Ginchy. These incessant attacks were effective because the enemy barrier that existed in the beginning of Phase Two crumbled and the salient in the Allied line ceased to exist. By the end of Phase Two, the Germans had lost more of their fortification system and many more men, and the Allies controlled almost the entire crest of the ridge, holding a significant vantage point.

Phase Three of the Battle of the Somme saw the first use of British tanks. The tanks operated with the infantry and were used as a shield for the troops. The Germans were not expecting this new piece of equipment, which ended up being highly successful in weakening the German resista

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