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Final 1st Quarter Economics Essay

Using the standard writing rubric for the course, please respond to ONE! of the following prompts. Aim to enrich the quality of your writing by citing examples you've researched. Essays are due Friday, October 29 no later than 2:30pm. Please be sure to turn in a hard copy with a rubric attached.

*Your book states that the fundamental economic problem is scarcity. Many economists agree. However, some argue that there is "enough to go around." Opponents to the scarcity argument say that the real issue is distribution. What do you say? Then, take your argument one step further. Based on your point of view (scarcity v. distribution v. something else), what can be done to respond to the "economic crises" of our times?

*What sort of economy do you believe produces the best results? Would you propose a communistic, socialistic, traditional, or capitalistic structure? Understanding that all economies are mixed, in essence, why do you believe that your chosen economic structure is best? Back up your case with hard data, explaining why your choice offers the best possibilities for all involved.

*In Chapter 5, we looked at how government regulations can affect supply. Pick a recent case in the news (any country, any firm), in which the government influenced a firm's production by creating or removing regulations. Then, evaluate the government's actions. Are you in favor of the regulations or against them? How did the government's decisions affect the economy?

*Write an entertaining and creative essay, explaining in reader-friendly terms the topics covered in chapters 4 and 5 on supply and demand. You can be humorous or outrageous, but be sure to really explain the intricacies of supply and demand.