Your supervisor has been asked many questions about how the economy works and why the idea of limited resources is such a major concern in today’s economy.
This presentation will be used in a training session for your peers:
Create an 3-6 page report, that includes an explanation and/or examples of:
A circular flow diagram that includes the government sector. For this part of your paper, you should include a description of the roles that each participant plays in the economy and how the different sectors interact in the markets.
An illustration of the Production Possibilities model, including a summary of what the model is illustrating and the economic implications for the economy.
An explanation of why or why not trade with other countries is beneficial to an economy and how international trade fits into the circular flow diagram.
An explanation of the difference between micro and macro economics, indicating why the division is necessary.
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