Assignment: The Key Concepts in Economics
Write a three (3) pages paper in which you:
- Identify at least four (4) key points of a relevant economic article from either the Strayer Library or a newspaper. The article must deal with any course concepts covered in Weeks 1-8 (supply, demand, market structures, elasticity, costs of production, GDP, Unemployment, inflation, aggregate demand, and aggregate supply)
- Apply one (1) of the following economic concepts (supply, demand, market structures, elasticity, costs of production, GDP, Unemployment, inflation, aggregate demand, and aggregate supply) to the key points that you highlighted in Question 1.
- Explain how the concept that you identified in Question 2 could affect the U.S. economy.
- In your concluding paragraph, state whether you agree or disagree with the economic article identified in Question 1. Provide a rationale for the response.
- Use at least five (5) quality resources in this assignment with one (1) being your article.
Your assignment must follow these formatting requirements:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
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Introduction
In our day to day activities we are involved in many economic activities and that is the main reason why we should familiarize ourselves with economic concepts. It is through economics that we are able to develop our lives by the various economic activities we take part in. We have macroeconomics and microeconomics which are the two broad concepts in economics. The two concepts have various components which are described below. Macroeconomics and microeconomics focus on components such as inflation, price stability, full employment, imports and exports, balance of trade, foreign exchange rates, supply and demand among many others (Bhattacharyya, 2011). ……
APA
1200 words
