Business Assignment
Answer the questions and submit to me via Canvas.
1. Economic Terminology
Referencing the articles in the Module, using Word, define the following terms.
• Invisible Hand
• Capitalism
• Demand Curve
• Benefits of Free Markets
• Limitations of Free Markets
• Socialism
• Negative consequences of Socialism
• Communism
• Negative consequences of Communism
• Business Cycles
2. Economic theory
After reading the Keynes vs Hayek article in the module and conducting additional research, using Word, answer the following questions.
• Classical economists believe in the theory of the invisible hand. True False
• Which economic theory believes in government intervention in the economy?
• How would classical economists deal with unemployment?
• How would Keynesian economists deal with unemployment?
• Which theory would you tend to subscribe to and why?
• What similarities do you see when comparing the theories to Republican and Democratic economic positions?
• Which theory, in your opinion, would the US economy most favor at this time?
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.