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Define and discuss each economic topic

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Reference no: EM132132262

Learning Activity #1

The relationship between business, government and society has been compared to a circle.  Business being the starting and end points. Agree or disagree with the statement explaining why.

Learning Activity #2

Review the table below.  Items in blue represent economic topics, while items in brown represent factors.

Notice the economic topics across the top row with their factors listed below.

Complete the following tasks:

  • Define and discuss each economic topic and identify whether the economic topic is relevant to microeconomics or macroeconomics and explain why.
  • Select one factor from two of the economic topics and explain how the factor exemplifies the economic topic.
  • Onlyrespond to classmates who have chosen at least one different economic topic than what you presented.

Balance of Trade

Supply and Demand

Company Use of Scarce Resources

Employment

GDP Health Indicators

Selling corn to Russia

Selling a kidney on EBAY

Credit card interest Rates

Aging population

Rise in Federal Interest Rates

Outsourcing jobs

Diamonds vs. water

Water quality

Health Insurance

A downturn in the housing rate

Buying coffee

Gas prices when OPEC reduces production

Seafood from the Chesapeake Bay

Wage growth

Mortgage Interest Rates

Reference no: EM132132262

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