Problem: This dystopian film Hunger game follows the life of Katniss Everdeen who lives in one of 13 districts of a post-apocalyptic country. There are many economic concepts that are nicely outlined here:
1. Specialization.
2. Opportunity Costs.
3. Exchange in markets
4. Game Theory
5. Production possibility curves
6. Income distribution.
Questions:
Use three of the above concepts to answer one of the questions below:
Q1. What is economic freedom and how does it relate to political freedom.
Q2. What is the role of institutions in the economy?
Q3. How do governments use economics to regulate behavior?