Part I:
Question 1) What is economics?
Question 2) What types of things are considered in economics? What is not?
Question 3) What role does economics play in your personal decisions?
Question 4) What are the advantages of a market versus a command economy?
Part II:
Question 1. What is the difference between the shift of and a movement along the demand curve?
Question 2. What is the difference between the shift of and a movement along the supply curve?
Question 3. How do shortages and surpluses develop?
Question 4. What types of shortages and surpluses affect you either personally or in your work environment?
Part III: Answer the following questions:
a. What causes the changes in supply and demand?
b. How do shifts in supply and demand affect your decision making?
c. List four key points in the study of economics.