Reference no: EM131696160

Do you agree with these following statements? Give a detailed answer as to why or why not.

1. It is no surprise that landlines are now becoming obsolete. Most people function the majority of the time on the go, so a cell phone is just more convenient. Plus, with all of the new technology incorporated into cell phones, such as the ability to surf the web, play games and use several other productivity applications, the cell phone is just a more useful phone in general in comparison to the landline. This is essentially why it has surpassed the landline in popularity and it's a perfect example of how technology is taking over our world and any products or electronics that can't keep up with all the new advances will unfortunately fall off the radar.
2. The GDP or gross domestic product is the amount of good and services in an economy in a given year. There are many ways to tell how an economy is growing based on measuring factors of the GDP. If you were to measure Christmas sales each year and compare them, the increase or decrease of the average of the sales would show if the economy was growing, an increase in sales or contracting, a decrease in sales.
3. Employment varies with several factors. Employment is needed so that consumers can purchase the items they desire and so that businesses can make a profit from selling those items. The more employment there is the more goods and services will be purchased from businesses. Without employment people cannot afford the luxury of buying certain items, if nothing is being bought then profits of many sellers will decrease. For the case of Christmas hires, employment at some businesses, such as a toy store, can increase their staff to fulfill the demand of that holiday. Toy stores can be at the prosperity phase during Christmas, where there are low unemployment rates and an increase in profits. This year, according to the National Retail Federation (2017), holiday sales are expected to grow between 3.6 and 4 percent (Holiday Headquarters). This increase can decrease unemployment rates that will favorably benefit the economy and its businesses.