1.++Economic+Problem

= 1. Economic problem ﻿ = **Your task** 1. Press edit above 2. Move your cursor below your name (scroll down) - only work in the area under your name 3. Use Ms Stevenson's examplar as a guide

**Miss Stevenson's exemplar:** (note you can not use my topic! Go to your task sheet for more topic examples.)


 * ** Whose problem/issue is it: ** || My Grandmother who is 70 years old. ||
 * ** Key needs/wants: ** || Grandma wants a dog for companionship, exercise and security. ||
 * ** What are the technical aspects of the problem: ** || Grandma believes that pedigree dogs are superior to mixed breeds and accordingly will only consider pedigrees with papers ||
 * ** What are the financial aspects of the problem: ** || Grandma has $1,000 to spend on a new dog ||
 * ** What caused the problem: ** || Grandma has always had border collies and sadly her last dog died from old age. ||
 * ** Effects of the problem: ** || By spending $1000 on a dog, Grandma will have to rethink her Christmas budget for grandchildren this year as well as budget for ongoing dog maintenance and care costs. ||


 * Nielen B**


 * Whose problem is it? || Write your answers in here and below ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||


 * Max B**


 * Whose problem is it? || An elderly couple/ Middle aged family ||
 * Key needs/wants: || A waterfront home with boat access for Holiday use and rental capability. He obviously wants the most financially beneficial option. ||
 * What are the technical aspects of the problem? || The family wants to be able to store there boat on at the home and use it for school/ general holidays. They also want the capability to rent out the property if need be. ||
 * What are the financial aspects of the problem? || For the sake of the comparison, the client is able to purchase the home without the need for a loan. He is still subject to the normal fees associated with property purchases and income taxes on collected rents. ||
 * What caused the problem: || The client wanted a holiday home for his family/ partner and required storage for his boat. He also wants the ability to make revenue off rental charges (per week). ||
 * Effects of the problem: || Financially and mentally impacts the family most likely benefiting their way of life. He is also leaking money out of the circular flow into savings (i.e. the investment of money into the property/asset) ||


 * Simon B**

the costs spent. || way he uses his mobile. He is also injecting money into the circular flow(i.e. consumer expenditure to the production sector. ||
 * Whose problem is it? || A high school student of age 16. ||
 * Key needs/wants: || A phone plan which he thinks is receiving the maximum benefit for the money spent ||
 * What are the technical aspects of the problem? || There are different options to satisfy different wants. ||
 * What are the financial aspects of the problem? || They are all going to be on the $29 dollar cap. ||
 * What caused the problem: || He had suspicion that his previous phone plan wasn't acheiving maximum benefit for
 * Effects of the problem: || Financially it will save this high school student if he chooses the most cost efficient plan for the


 * A Cao**


 * Whose problem is it? || Couple in their early thirties with 2 children ||
 * Key needs/wants: || A home which allows easy access to the city with good nearby schools, but doesnt sacrifice too much comfort ||
 * What are the technical aspects of the problem? || Appreciation of the home within the future is well looked upon, although not the most important aspect ||
 * What are the financial aspects of the problem? || The family has only a maximum of 700k to spend after reviewing several homeloan options in context with their income ||
 * What caused the problem: || A decision by the couple was made that they wanted to stop renting as they had accumulated enough money to buy their own home. Renting further would be financially detrimental. ||
 * Effects of the problem: || Large indecision as to what home they want to buy but ultimately, their living conditions will improve and hopefully the investment in a home will set them up for the future. May also cause argument due to the need to compromise. ||


 * A Capell**


 * Whose problem is it? || Paul a 30 year old family man ||
 * Key needs/wants: || A car that is cheap and is safe for his children ||
 * What are the technical aspects of the problem? || There are multiple options however he can only select one ||
 * What are the financial aspects of the problem? || He has a price limit of $60,000 however he would prefer a cheaper car ||
 * What caused the problem: || His children now have to go to school, needs to be able to transport them safely ||
 * Effects of the problem: || Won't be able to spend money on other areas of need ||


 * Nick C**


 * Whose problem is it? || Write your answers in here and below ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||


 * Ramesh C**


 * Whose problem is it? || A 38 year old man. ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||


 * Alexander C**


 * Whose problem is it? || Write your answers in here and below ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||


 * Geoff D**


 * Whose problem is it? || Write your answers in here and below ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||


 * Alex H**


 * Whose problem is it? || Write your answers in here and below ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||


 * Alister H**


 * Whose problem is it? || Write your answers in here and below ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||


 * Joseph K**


 * Whose problem is it? || The choice between two different living options (house or apartment) for people between the ages of 20 and 30. ||
 * Key needs/wants: || A housing option that best suits the economic and social environment of the given age group. ||
 * What are the technical aspects of the problem? || Must take into to account a students income for the younger age group (20-25), and the needs of the later age group (26-30). ||
 * What are the financial aspects of the problem? || I will be using the average student wage ($14000 after taxes) for the younger age group (20-25), and a wage of $100 000 after taxes for the older age group (26-30). ||
 * What caused the problem: || general confusion about what is right for specific age groups in terms of housing. This may differ from person to person. ||
 * Effects of the problem: || The spare income left over from their housing decision can be used in other areas, such as food or entertainment. ||


 * Jordan I**


 * Whose problem is it? ||  ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||


 * Ethan L**


 * Whose problem is it? || Jimmy, a keen 25 year old fisherman ||
 * Key needs/wants: || Wants to buy the best powered watercraft to fish on ||
 * What are the technical aspects of the problem? || Powered watercrafts is the best option to fish on ||
 * What are the financial aspects of the problem? || Has $15000 to spend ||
 * What caused the problem: || Jimmy wants to try to fish on a different type of watercraft ||
 * Effects of the problem: || There might not be enough money to spend on other needs ||


 * Asa M**


 * Whose problem is it? || 18 year old teenager, young adult, students, could be anyone ||
 * Key needs/wants: || The need and want to buy goods from the internet ||
 * What are the technical aspects of the problem? || The best value for your money ||
 * What are the financial aspects of the problem? || Limited budget, under $1000 ||
 * What caused the problem: || Teenagers want the freedom to buy virtually anything on the internet and can be accomplished by buying a prepaid credit card ||
 * Effects of the problem: || Since the person* is on a limited budget, if he/she chooses to buy an item then he will not be able to purchase another item. There are also reloading fees for prepaid credit cards so he must think of these costs, maintenance fees etc. ||


 * James M**


 * Whose problem is it? || A teenager still in school. ||
 * Key needs/wants: || A mobile phone plan. ||
 * What are the technical aspects of the problem? || Needs a plan with a high monthly eligable text messaging. ||
 * What are the financial aspects of the problem? || Looking to spend a maximum of $60 per month. ||
 * What caused the problem: || Original plan has a low monthly eligable text messaging amount and is too expensive for the benefits it offers. ||
 * Effects of the problem: || This will benefit the teen as he/she will be able to keep in touch with friends with out spending too much money. ||


 * Johnny P**


 * Whose problem is it? || Write your answers in here and below ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||


 * Partick P**


 * Whose problem is it? || Bruce, a 25 year old from Toowomba, has started his career job as an accounant at the Brisbane City. ||
 * Key needs/wants: || Bruce needs to rent an apartment that is relatively close to the city but also wants the most benefits. e.g location, price etc. ||
 * What are the technical aspects of the problem? || Bruce believes that a good apartment should have a satisfying price for its' location and features. ||
 * What are the financial aspects of the problem? || Bruce has a maximum budget of $390 per week for rent. ||
 * What caused the problem: || Due to urban civilisation, Bruce wants to move near/in town, near his work for its' location. ||
 * Effects of the problem: || If Bruce exceeds his limit for rent, he would have to sacrfice or budget his needs and wants. However, if his rent pay was 70% or less, then he won't need to make any serious sacrrifices nor budgeting his needs and wants. ||
 * Max R**

existing everyday savings account. || it would be beneficial for him if he opened an account. || that he will be unable to purchase something else. ||
 * Whose problem is it? || An 18 year old male. ||
 * Key needs/wants: || Wants to open an online savings account that will give him the best deal. ||
 * What are the technical aspects of the problem? || To open an online savings account, the person saving has to first link it to an already
 * What are the financial aspects of the problem? || The saver has $10 000 to save and wants the cheapest account possible. ||
 * What caused the problem: || As the 18 year old has now left school he wants to be set up for later life so he decided
 * Effects of the problem: || There may be some costs associated with opening and maintaining the account which may mean
 * Galton S**


 * Whose problem is it? || Tim, a successful businessman in his early 30 ||
 * Key needs/wants: || Wants the best beachfront apartment in the Gold Coast. ||
 * What are the technical aspects of the problem? || There are many apartment, but which one offers the best price. ||
 * What are the financial aspects of the problem? || He is only willing to spend $20,000 per month for rent. ||
 * What caused the problem: || He is setting a budget so that he could efficiently use his money for other things. ||
 * Effects of the problem: || There may be complementary wants that he needs to satisfy, which means that he would spend more than he expected. ||


 * Phillip S**


 * Whose problem is it? || Sam, an 18 year old Uni student. ||
 * Key needs/wants: || Cheapest car insurance for value. ||
 * What are the technical aspects of the problem? || Younger drivers are disadvantaged, so he wants to find the best car insurance for a younger driver. ||
 * What are the financial aspects of the problem? || Unlimited money, but he wants the cheapest for value. ||
 * What caused the problem: || New driver with a new car, wanting comprehensive car insurance. ||
 * Effects of the problem: || Can't spend the money to satisfy other wants. ||


 * Gavin S**


 * Whose problem is it? || Write your answers in here and below ||
 * Key needs/wants: ||  ||
 * What are the technical aspects of the problem? ||  ||
 * What are the financial aspects of the problem? ||  ||
 * What caused the problem: ||  ||
 * Effects of the problem: ||  ||