* Please number and write out ALL questions and answers in complete sentences.

* Leave a space between your question and answer.

* Leave a space between each question.

* Please attempt to be as neat as possible.

* Cut and paste all work into e-mail. NO ATTACHMENTS!

* Send the entire week's work in ONE e-mail .


Day #1

What is Economics?

We begin this course by some of the basics. We will begin by examining a fundamental economic problem: scarcity. We will also be learning many, many terms in the chapter that we will be using in the weeks ahead to understand economics.

Complete Study Guide for Ch. 1 (worth 44 points)

1. Read Chapter 1 Section 1 "Scarcity and the Science of Economics" (pp. 5-10) and answer Section 1 Review questions 1-5 on page 10 (worth 16 points). Title your responses to this activity "Chapter 1 Section 1."

2. Read Chapter 1 Section 2 "Basic Economic Concepts" (pp. 12-17) and answer Section 2 Review questions 1-4 on page 17 (worth 9 points). Title your responses to this activity "Chapter 1 Section 2."

3. Read through "Adam Smith" in the Profiles in Economics article on p. 18. There are no questions to answer for this article but this information will be on an upcoming quiz.

4. Read Chapter 1 Section 3 "Economic Choices and Decision Making" (pp. 19-25) and answer Section 3 Review questions 1-4 on page 25 (worth 33 points). Title your responses to this activity "Chapter 1 Section 3."

Economic Systems

and Decision Making

There are basically three types of economic systems in the world which will be the focus of this week's/today's lesson. We'll also examine the common social and economic goals most Americans share as well as the main characteristics of the free enterprise system.

Complete Study Guide for Ch. 2 (worth 34 points )

1. Read Chapter 2 Section 1 "Economic Systems" (pp. 33-39) and answer Section 1 Review questions 1-5 on page 39 (worth 12 points). Title your responses to this activity "Chapter 2 Section 1."

2. Read Chapter 2 Section 2 "Evaluating Economic Performance" (pp. 41-44) and answer Section 2 Review questions 1-4 on page 44 (worth 9 points). Title your responses to this activity "Chapter 2 Section 2."

3. Read Chapter 2, Section 3 "Capitalism and Economic Freedom" (pp. 46-51) and answer Section 3 Review questions 1-5 on page 51 (worth 16 points). Title your responses to this activity "Chapter 2 Section 3."

Keep in mind that questions for the midterm and final exams will be pulled from these quiz questions as well as questions from the section reviews. It might be a good idea to keep all your printouts to use as a study guide for these exams.

Once you have completed all of this work (worth 102 points), copy and paste your answers into ONE E-MAIL titled "Assignment 1 Homework." Be sure to include your full name at the top of your e-mail and send it to haskellgs@yahoo.com.by 8 PM (Today Only!) All other days work is submitted by 3PM.