Your supervisor has been asked many questions about how the economy works and why the idea of limited resources is such a major concern in today’s economy. As a result, she has asked you to prepare a report on the topics.
Principles Of Micro-Economics
Specifically, your supervisor has asked you to prepare the following:
- A circular flow diagram that includes the government sector. For this part of your report, you should include a description of the roles that each participant plays in the economy and how the different sectors interact in the markets.
- An illustration of the Production Possibilities model, including a summary of what the model is illustrating and the economic implications for the economy.
- An explanation of why or why not trade with other countries is beneficial to an economy and how international trade fits into the circular flow diagram.
- An explanation of the difference between micro and macro economics, indicating why the division is necessary.
- Prepare a 5-6 page Microsoft Word document that addresses the above tasks and meets APA standards.
- Include a summary section in your report that contains 5-7 bullet points identifying your major findings or conclusions of your paper.
- Submit the summary section as your initial post in the Discussion Area by the due date assigned. Include the full report as an attachment to your posting.
- Continue your discussions until the end of the week by commenting on at least two other submissions by your peers, identifying the strengths and weaknesses of each post.
- All submissions must be original and all resources must be properly acknowledged