Chapter P3, Problem 1RQ

To determine

The reasons that people work and why they change jobs throughout their lifetime.

Explanation of Solution

Due to the following reasons people work:

1. Money: people need money to accomplish their goals or to fulfill their daily needs such as eating, dressing, housing, etc. Therefore, they work to make money and with that money, they fulfill their needs.
2. Community: To contribute to their communities as a part of society, people prefer to work so that they would have a particular status or standard in the community.
3. Independence: This is also an important reason to work because people want to be independent and money makes them financially independent which they get by working.

Due to the following reasons, people change jobs throughout their lifetime:

1. Career advancement: People want to explore their careers and to get a better job according to their passion they change their job throughout life as it provides them more opportunities to advance their skills.
2. Bad leadership: if people are not satisfied with the leadership qualities in their current job, then they prefer to change their jobs until they get more interesting roles with, an effective company culture that enhances their leadership qualities.
3. Large financial needs: When a person wants to fulfill several personal needs which he/she cannot fulfill with the salary of the current job, he/she changes job until he/she gets a job that offers the amount of salary that they expect.

Economics Concept Introduction

Introduction: There are different needs of people and to fulfill those needs they require financial aids that help them to achieve their goals such as a job or any kind of work that pay them.