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Define elasticity of demand and describe how it is calculated; give examples of elastic and inelastic goods.
Describe the five factors that shift the supply curve and what causes a movement along the supply curve.
Discuss the five factors that cause demand curves to shift and give a specific example of each one.
Define supply. What does the law of supply state? Express it in words, in symbols (clip art or images), and as a graph.
Explain how the president and Congress interact to affect the economy. Find a recent news article from the last eight weeks that demonstrates where the president and Congress have cooperated or conflicted over an economic issue. Analyze how the separation of...
Why does the cost of living keep rising?Why are so many countries poor? What policies might help them grow out of poverty?What is the trade deficit? How does it affect a country’s well- being?
