Summarize an invention that would make your life easier, economics homework help

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The United States is known as the "land of opportunity." Every day, inventors and entrepreneurs seek to create better products that will enhance the lives of people in society. Of course, for many, it is their own self-interest that encourages them to do so. They create in the hopes that their hard work and determination will result in a large paycheck!

Think about the items that you have now that help make your life easier. What's missing? Can you think of something that would make your life or one of your relative's lives better? This assignment requires you to put on your "inventor's hat" and your "thinking cap"!

In a short essay of at least two paragraphs, summarize your idea for an invention that would make your life or someone in your family's life easier. In your essay, you should answer the following questions:

  1. What does the item look like?
  2. What function does the item perform?
  3. How does it make someone's life easier?
  4. What factors of production will go into making the item?
  5. Do a little bit of research on the Internet to find out how you might obtain the funding necessary to start your business and/or bring your new products to the marketplace. Explain what you find. Who might be interested in helping you fund your new invention?

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Explanation & Answer

Magnetic Accident Prevention Machine Most of the young people in the United States of America drive without considering traffic rules. The lifestyle led by the youth creates room for many accidents due to drunk driving and the influence of competing to drive. Under my research, I have thought of creating a magnetic gadget that will be coated on the body of cars to create a repelling force whenever cars are about to collide. The function of the magnetic component is to reduce accidents that happen due to the collision of cars. With the gadget installed, there will be no accidents of cars colliding to one another. The use of the magnetic element on cars will save the lives of relative...

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