The essay for this lesson is required to be a minimum of 3- full pages (to exclude title and reference pages) which clearly demonstrate your understanding of the activity. Essays should have a clear introduction, thesis statement, and conclusion, written in APA format.
Read the following questions, and use what you have learned about Economic Activities to summarize your responses in 3 full pages (to exclude the title and reference pages) (APA formatting required):
Describe your ideal capitalist economy. What indicators would you use to measure goods and services? What happens when the quantity demand is impacted?
Describe your socialist economy. Explain whom goods and services will be produced for. What happens when price flooring is in effect, and how does it impact your labor market?
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