MIcrofinance Test

Today in Human Geo, we took the Human Geo test. Overall, I think it was pretty easy if you studied. All the questions on the test were on Mr. Schick's PowerPoint so that made it much easier. The test even had silly questions and answers. They were "have you ever met a person who has used Kiva" and answers such as Grace Mottley and Gummi. It had questions such as how many people donated this or average amount of loans. It had definition questions with microentrepreneur, malaria and philosophary. Mr. Schick graded the test 10 minutes after I finished them.

Study Guide

Today in Human Geo, Mr. Schick showed us the study guide. Below are all the notes I took in class. Microfinance is a form of financial services for entrepreneurs and small businesses lacking access to banking and related services. Microloans are a small loan given to individuals who might not have access to typical banking services, usually to start or expand small, self-sufficient business. One of the best-known lenders is kiva.org. As of November 26, 2013 Kiva has distributed $498,939,550 in loans from 1,015,823 lenders to 1,177,248 borrowers. A total of 637,003 loans have been funded through KIVA. The average loan size is $410.89. The average Kiva user has made 10.06 loans. Kiva's current repayment rates for all its partners is 99.01%. Who receives microloans? Micro entrepreneurs who are trying to start a small business. Villagers needing to fund a clinic, hospital, or other health care facility (malaria treatment, drugs, hypos, refrigerators, sanitation). Teachers trying to run a school (buying anything from books and pencils to desks and chairs). Students wanting to further their education (college tuition). What are the problems with microloans? There are high interest rates sometime as high as 23%. The cost of providing banking services to those living in poverty is high. Being the company that provides tiny loans can be expensive. What's harder and more time-consuming to process: one $500,000 loan, or five hundred $1000 loans? That's it. Mr. Schick isn't finished.

Test Question

1. What is microfinance?

the lending of small amounts of money at low interest to new businesses in the developing world

     2. What are microloans?

The business or policy of making microloans to impoverished entrepreneurs.

    3.What is Total Fertility Rate?

Average number of children born per woman

    4. What is the difference between pull and push force?

Pull are good qualities that make people want to go to a certain country. Push are bad qualities that make people want to leave their current country.

   5.What does the peace corp do

They reacel to third world countries and villages and help them set up things like infrastructure or buisnesses that the village needs to stay alive.

   6. What country does Angela Merkel run/has  the position of chancellor in?

Germany

    7. When studying globalization, the most important concept to consider is ____________

interconnectedness

    8  What is considered the language of business, finance and commerce?

English

What kind of people does microfinancing help

Poor people who cant use big banks and don't have money

Why do some nations hate globalization

Because they don't want other nations cultures to spread to theirs.

Microfinance Powerpoint

Today in Human Geo, we reviewed our PowerPoint. The following information are the notes taken on the PowerPoint and talked by Mr. Schick in class. Microfinance is a general term to describe financial services to low-income individuals or to those who do not have access to typical banking services. Microloans loans people money to help them them get a kick start in a small business that they think will be beneficial to their village or town.
Microfinance helps poor people start what they want to do. It helps small businesses start up and stay running. This helps the local economy it also helps pay for insurance. If you get sued, the microfinance will help it get started again, or if your small business gets damaged, they will provide you the money to get your business back on track so you can start making money again. Microfinance is an opportunity for the less fortunate people to have stuff that they usually would not be able to afford or start up. Microfinance allows poor people to build their assets, for example by getting land, Constructing or improving their homes and purchasing livestock.
Poor people are the ones who are least likely to be helped by regular banks. Problems in developing countries that can be helped by Microfinance. Examples include malaria, drought, and clean water. Then Mr. Schick explained how just because your poor doesn't mean you have welfare. Malaria is a life-threatening disease transmitted by mosquitoes. It was once thought that the disease came from fetid marshes, hence the name mal-aria (bad air). In 1880, scientists discovered the real cause of malaria: a one-cell parasite called plasmodium. Later they discovered that the parasite is transmitted from person to person through the bite of a female Anopheles mosquito, which requires blood to nurture her eggs. Every year, malaria causes 655000 deaths. Every minute, a child dies from malaria. Right now, International Medical Corps is on the ground to combat malaria and help save lives. Doctors are trying to figure out how to make a vaccine for malaria. "an important part of this process is understanding the mechanisms of naturally acquired immunity to malaria." Loans help people with small businesses to get a kick start on what they want to do. They may get funds, structure investments, housing, and help for the economy in small areas near by. With more small businesses, there won't be as many large corporations. This means that wildlife areas in villages will be healthier because of reduces fumes from factories. This means that people will have a better quality of living. Areas that are consumed by large corporations have pollutants in the air and unhealthy living conditions. 
Clients are too poor to pay interest as well as repaying the loan capital, so projects have low or no interest rates. Clients need a large lump sum to restart activities after a conflict, so loan sizes are large (for example, more than one-fifth of annual income). Clients prefer to use the loan for agricultural activities, so projects have long loan terms (six months to one year). Clients have often lost all their assets and have no collateral, so projects use group-based methodologies. Clients need micro-finance to kick-start their businesses, so projects are impermanent. The remit of the organization is to assist the poorest households, so projects target the most vulnerable households. How bout them Vikings.

Gummi!

Today in Human Geo, Mr. Schick introduced us to Gummi. In 4th grade, he threw Gummi around the classroom until he threw it  into his teachers coffee cup. The teacher didn't find out until her 4th sip. Then he got in trouble. In 5th grade, he threw Gummi again until he hit his 138 year old teacher in the ribs. She got mad and ripped Gummi''s arms off. The wire then cut the teachers hand open. Mr. Schick got in trouble again and the teacher had 20 pounds of bandages on her hand. In 7th grade, he introduced us to his teacher who was abusive. If someone didn't pay attention, he would hit them in the head. Then one day he made a comment and he lifted small Schick off the ground from the sides of his hair until they were eye level. He said he cried and it was extremely painful. He also said he was 4'10 78lbs in high school and the teacher was over 6 feet. Then another day in his life, he wrote one line one thousand times which is 20 sheets of paper both sides. Then everyone else told their stories just to have fun.

Today, two girls came in to talk about the Senior Variety Show. I can't go Tuesday and still undecided on Wednesday. Then Mr. Schick talked about retaking the test which failed most people. The people who retake it can only be the ones who fail. It can only help not hurt test but it someone past, you can only get a 70. Its a one time offer according to Mr. Schick. After that, we worked on an all class microfinance PowerPoint where everyone works together. At points it looked like a success and at other points it was a terrible idea. My computer would not work so I couldn't do anything. Although it didn't work, I looked over many slides. Micro finance is basically helping third world countries or poor people start buisenesses. When I thought if this I think of KIVA because people loan money to them and if the buisness is booming they all get payed back ( well they all get payed back no matter what). There are also micro loans which are ways to get these buisnesses going by lending them money like KIVA. Lasty, their are many problems in these third world countries such as malaria drought and dirty water.

Schickless

Today in Human Geo, Mr.Schick wasn't here today. We reviews our online project and took notes on the diseases and conflicts the town in the thing dealt with. Basically we talk to a bunch of people to get her information and then in the end when you feel like your ready, you talk to the mayor and tell him your thoughts on what the town should do to solve a certain conflict. There is usually one answer that is no where near close. After completing all of them I got a little certificate (I think but I don't remember).  Then I played game for the rest of the mod.