Economics Homework

Guidelines

9/14 #1 Country Reports

 Use the link Open Factbook and construct a Bullet List of features about the country you were assigned in class. Do not cut and paste the info. Summarize it in your own words.

1. Land area 2. Coastline 3. Population. 4. Population growth rate 5. Arable land  6. GDP (Official Exchange Rate), GDP per capita,  GDP growth rate, GDP Composition (Largest contributing sector by percentage to GDP) 7. Unemployment Rate 8. Exports 9. Imports 10. Export and Import Partners 11. Current Account Balance. 12.Form of Government  13.Electricity Consumption 14. Oil Consumption 15. Oil Production 16. Primary language 17. Predominate religion 18. Literacy Rates (Male and Female) 19.Life Expectancy (Male and Female) 20. Internet Users (Whole number and percentage of population)  21. Urbanization Percentage 22. Leading Industries 23. Labor Force Size 24, Industrial Production Growth Rate 25. Public Debt 26. Taxes and Revenue as Percentage of GDP 27.  Number of Ports 28. Anything else you find interesting or of note.

9/16 #2 Behavioral Economics. Print, Read Annotate BEHAVIORAL ECONOMICS

1. What is the goal of Behavioral Economics?
2. Write an example of how you yourself have recently been influenced by each of the key factors of Behavioral economics. Be specific.

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9/24#3 Intro to Economics:Read Economics pgs 2-19

Define: Standard of Living, good, opportunity cost, capital formation , marginalism, microeconomics, macroeconomics, money, fiat money

Answer:

1. What are the four factors of production? Define each one

2. What are the key elements of a) Traditional Economy, b) Command economy, and c) Market Economy

3. What are the two things that money does?

4. Answer Question #2 on pg 20

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9/28 #4 The United States Economic System Read Economics pgs 24-44

Define: Capitalism, public utility, circular flow, consumer sovereignty, eminent domain, internal cost, external cost

Answer:

1. What are the five principles of a free enterprise system?

2. Describe how the economic activities of consumers, business, and government interact. Give an example from real life.

3. What are the disadvantages of a market system?

4. Who was Adam Smith? Choose one quote from Adam Smith. Explain its meaning.