8+-+Economical+Issues

=  **Recommendations on an Economic System:**   =

The aim is to use the money we recieve from the Government grant to start us off which means we won't exactly have a lot of money to do anything untill the process of importing and exporting begins. After that jobs will begin to increase and trading will also increase meaning more money coming in and out of the settlement.
 * __ How are we going to get the money? __**

Discussions about this have lead to the implementation of trading between settlements, depending on deals we agree upon we could help each other out meaning we save money while building resources and developing the setllement further. Working together will mean that overall we will increase our economic status which will then lead to helping expand our resources and services.
 * __ Are we going to trade between settlements? __**

**__Are we going to have a currency?__** As the Economist speaking I believe having one currency would make trading and exporting/importing a whole lot easier due to the fact that we know how much money we are spending which then helps when calculating a budget. If we were to have all the different currencies it would be both beneficial yet unbeneficial due to the fact that there would be too many accounts with different currencies being opperated at once which can lead to loss of money. On the other hand having all the different types of currencies could be beneficial because when importing/exporting items it would be easier to just pay using the same currency therefore no confusion will occur and no money would be lost. [|Currency picture]

Idealy we hope to sell the produce that is plentiful on our settlement, for example fish (because we are surrounded by water), tropical fruits as long as there is constant growth etc. Job opportunities will mean money for individuals to buy the necessities of life and live a comfortable life with no needing to stress about having money to buy food for their families. Also discussed was having different families in charge of different sections of the settlement which means that whatever they grow/catch etc they can sell to make money.
 * __ How will we earn the money as a settlement/individually? __**

Fruits. we could also look into the manufacturing of clothes which we could then sell?
 * __ What can we produce for exporting? __**

There are a lot of things we would need to import, some being facilities for communication for example solar panels, computers, phone lines. Other things such as kitchen facilities, materials to build houses, transportation vehicles, facilities to make water fresh for drinking and cooking, health services such as a hospital and equipment needed for them which will cost a lot of money. There are a lot of things to consider when starting from scratch which means money will be a major factor in what facilities are imported and the technology we are able to have on our settlements.
 * __ What do we need to import? __**

__** Tourism? **__ By introducing an environmentally friendly tourism onto the island would also help generate income onto the island, our settlement is surrounded by two beaches where we could use their resources. Activities in which we could include would be scuba diving, snorkling, day tours, over night and extended tours, educational trips, beach hire and water sport. There would be a range of diverse activities to suit everyone's need, the tourism industry would be a major contributor to the local economy. However to help perserve the natural beauty and surrounding of the area we would limit the numbe of people being able to visit from other settlement. The activites provided are those that do not include equipment that could potentially harm the environment, it simply requires the tourist and the people with knowledge of the area its surrounding. [|Tourism picture]

We have an abundance of flax on our part of the island which could produce clothing for the island, as well as be used to export to other countries. This would provide income locally and internationally. Exporting and trading fruits with other settlements is also an option, however the reliability of trading these products would depend on the demand both locally and internationally, as other settlements on the island also offer these products. As this trade may not be a reliable source of income, so taxing residents to raise revenue for the island is necessary to ensure there are funds to address issues, such as health, education and roads, as well as allowing funds for emergency situations such as flooding that can cause structural damage. In regards to importing we have access to fresh water with the river located on our part of the island, so equipment for producing clean water will not be needed**.** We also have some materials that could be used to construct houses already on the island so we may not need to import as many materials.
 * __ Revised Recommendations: 11.8.11 __**

Questions off Matrix

- What might our currency be? (Event/probability) - When will we get the grant? (Situation/Prediction) - Which settlement would be the most beneficial to trade with? (Choice/Probability) - How is money going to be deligated between settlements? (Means/Present) - How might individuals make money? (Means/Probability) - How will we decide on the value of each commodity? (Means/Prediction)