Should the Government Control the Economy? STEP 1 Research arguments for and against one of these topic questions: Should government raise the minimum wage? or Should government set the price of gasoline? Virtual Library (Links to an external site.) for help with your research. You are searching for arguments for and against one of these topics. Be sure to note your sources of information. STEP 2 Create a graph to show the effect (shortage or surplus) of the government regulation you chose. Discuss why these issues do or do not affect your opinion. Include the appropriate labels for your graph such as: price quantity supply demand surplus or shortage You may use the example provided for you in the lesson. STEP 3 Write a persuasive essay or blog entry to address your topic. Use a minimum of 400 words. State your opinion clearly with details from reliable sources. Be sure to include: Your opinion on the topic question Three strong arguments that support your opinion At least one argument that opposes your opinion, and how you challenge it Economic terms from the lesson such as price controls, equilibrium price, shortage, and surplus You may use the example provided for you in the lesson. STEP 4 Create a reference section that includes links to your sources. Be sure to include your sources in MLA format. Create a reference section that includes links to your sources. Be sure to include your sources in MLA format (Links to an external site.).