Economics Extra Credit Opportunity
This will be your LAST opportunity for extra credit. Choose ONE of the following assignments.
DUE: Friday, December 9, 2016
Projects will not be accepted after the due date!! No Exceptions or Excuses!
REMEMBER - Just because you turn something in does NOT mean that you will automatically get
full credit. You must turn in quality assignments to receive all of the points available.
Economic System Collage
Choose one of the following types of Economic Systems: Free Market, Command (Centrally
Planned), and create a poster that visually and verbally represents different aspects of the system. The
poster needs to have 10 or more pictures (from magazines, Internet, etc.) that visually portray the
concepts that characterize the economic system. Also, you need to have 3 or more attached typed
paragraphs describing the system. The poster must include the following information: general
description of the economic system; who owns factors of production; competition level; economic
strengths and weaknesses; specific examples; government role; consumer role. Be as detailed as
possible with the info
Circular Flow Chart in Detail
Create a poster detailing the main components of the circular flow diagram. This should be done on
poster board and use drawings, pictures, text, etc. to show the complete cycle for a product you have
chosen.
1) For the Households, identify what is needed, what product will fulfill it, and then which family
members would benefit from the product. Also, which FOPs are owned by the HH that the Firms will
eventually buy from them?
2) For the Firms, identify a business that produces the product. Describe or show the production
process of this product. Be sure to show examples of the labor involved and capital that is needed to
produce the product
3) For the Product Market, identify multiple stores that carry the product for sale.
4) For the Factor Market, identify any “factor” industries that the Firms will use to procure any
resources needed to produce the product. For example, if lumber is needed to build a house, then a
lumber mill would be included in the factor market.
5) For the cycle in-between the four steps, label the flow of money and the flow of FOPS/goods and
services.
6) Research all of these subjects to provide an accurate product cycle.
Create a “Guide” to Supply and Demand
Create a short “handbook” that teaches and reviews the basic concepts of Supply and Demand. Using
your notes and textbook, create an accessible (easy to understand) guide to the concepts of S/D. The
book should cover the following sections/chapters: Basic concept of Demand; basic concept of
Supply; Supply and Demand graphs (how they create equilibrium); changes in Supply and Demand
(and how it affects EQ). Be sure to cover all the important vocabulary including, but not limited to:
law of demand, law of supply, shortage, surplus, equilibrium, market clearing price, etc. The book
should include text, pictures, and graphs. Be sure to include specific examples to help relay the
concepts. Also, there should be practice questions for each “chapter” of the book.
What is the Federal Reserve?
Create a poster that covers the Federal Reserve System. This task must include related
images/pictures. Your project can be done in any format that you wish, but you need to make sure it
includes the following things:
?
affect monetary
policy?