be that the prices of their goods and services would be rounded (the .99s would become .00s) which really wouldn’t be a bad thing. Because of this, businesses would be able to get more money to pay their workers or hire more workers, thus decreasing our unemployment rate and prices would only increase by a couple of cents. That is the same number of pennies that people just throw away since there is hardly anything one can buy for 3 cents (I, for one, cannot think of anything at all).
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| TruGroup. Penny On a Graph. Digital image. Tru Ventures. Tru Group, n.d. Web. 28 May 2013. |
What's more is that the average person wastes about 4 hours a year looking for change such as pennies to help pay for the McDonald's that they are buying. It would definitely make much more sense to simply not deal with pennies and have prices adjusted slightly so that we would have no use for them. I’m sure we would all rather spend that time doing just about anything than messing around and looking for pennies. Getting rid of the penny would help save everyone time and help the businesses get more customers in the busy world we live in.
Rounding. Digital image. Phasing Out the Penny. Department of Finance Canada, 12 Apr. 2012. Web. 30 May 2013.
One very useful invention businesses have nowadays, and have had for a long time, is the concept of change. Everyone knows that if you buy a good or service with more money than was asked for, you are entitled to have that extra amount of money given back to you. Despite this convenience, some people feel that it is necessary to pay the exact price, even if it means finding and fiddling around with pennies. Instead of making a quick transaction by paying extra with larger coins and bills and taking change, they decide to waste time messing around with their pennies. There is, however, another problem. When someone is given change, they are sometimes given pennies. What is one supposed to do with these pennies after getting them? They are pretty much worthless, a waste of time to deal with, and even worse, cannot be used in pretty much any machines. Vending machines don’t take pennies, parking meters do not either, and just about every machine that people can buy stuff with does not take pennies. Why? Because they cost more to handle than they are worth to businesses.
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