Discussion:
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 power point presentation on the topics. This presentation will be used in a training session for your peers.
Specifically, your supervisor has asked you to do the following:
1. Create asn 3-6 page report, that includes an explanation and/orexamples of:
a. A circular flow diagram that includes the government sector. For this part of your paper, you should include a description of the roles that each participant plays in the economy and how the differnet sectors interact in the markets.
b. An illustration of the Production Possibilities model, including a summary of what the model is illustration and the economic implications for the economy.
c. An explanation of why or why not trade with other countries is benefical to an ecomony and how international trade fits into the circular flow diagram.
d. An explanation of the difference between micro and macro economics, indicating why the division is necessary.
2. Deliverables:
1. Submit your paper in MS word format.
2. Create a Microsoft power point presentation of 8-12 slide presentation that summarizes your findings in your report.
This is the book we are using:
Mankiw, N. (2014). Principles of Economics (7th ed.). Cengage Learning