assignment draft.

intro type assignment… this structure could potentially be used many kinds of ways

There are many ways to define an economy (also called an “economic system“).

One way is:

Economy – the particular way a group of people make and use things

another way is:

Economy – a particular solution to a production problem and an allocation problem

where the production problem is: how do we decide what to make and how to make it?

and  the allocation problem is: how do we decide who gets what?

PART I – Please respond to the following questions.

Who will see it?: You will turn this in to me. You will be given the opportunity to share this with your peers but that is not required.

Grading: You will receive full credit for responding to all questions with relevant information in your own words.

1. How much time do you spend working? How do you decide how much time to spend working?
2. What do you make? How do you decide what to make?
3. Name a business. What does that business make? Why?
4. Name a governing community that you are a member of (for example: the U.S., New York City, a church, a union, etc.). What is something that community distribute? How does it decide who gets what?

PART II – Please write your own questions.

Who will see it?: You will turn this into me. All questions will be shared to the whole class though your name will not be listed with it.

Grading: You will receive full credit for writing two questions (total), relevant to the prompt.

Prompt: What questions do you have about how

• governments
• businesses
• families
• neighborhoods, or
• individuals

solve the production problem or the allocation problem?

This assignment is going somewhere. it will go to a place where these questions are consolidated and refined as a group. Then the questions will be answered by students and peer reviewed — towards the building of a test bank. This is just introductory i think it will be meatier further in the semester.