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QUESTION
Answer the questions and submit to me via Canvas.1. Economic TerminologyReferencing PowerPoint presentation in the Lesson, define the following terms.Invisible Hand Capitalism Demand Curve Benefits
Answer the questions and submit to me via Canvas.
1. Economic TerminologyReferencing PowerPoint presentation in the Lesson, define the following terms.
- Invisible Hand
- Capitalism
- Demand Curve
- Benefits of Free Markets
- Limitations of Free Markets
- Socialism
- Negative consequences of Socialism
- Communism
- Negative consequences of Communism
- Business Cycles
2. Economic theoryAfter reading the articles in the module and conducting additional research, using Word, answer the following questions.
- Classical economists believe in the theory of the invisible hand. True False
- Which economic theory believes in government intervention in the economy?
- How would classical economists deal with unemployment?
- How would Keynesian economists deal with unemployment?
- Which theory would you tend to subscribe to and why?
- What similarities do you see when comparing the theories to Republican and Democratic economic positions?
- Which theory, in your opinion, would the US economy most favor at this time?
Files:
LuOcCNKTlov9rjoSGrfn.docx
