1. Economics Composition Book
Mrs. Nelson

2. Must write the question! and Write a paragraph response:
1. To me money, is…
Scarcity
Trade-off
Choice

3. Must write the question! and Write a paragraph response:
2. My latest economic decision was…
4. Opportunity Cost 5. Productivity 6. Economic Systems

4. Must write the question! and Write a paragraph response:
3. The best way to use credit is…
7. Command Economy 8. Traditional Economy 9. Market Economy

5. Must write the question! and Write a paragraph response:
4. Pretend someone gave you a million dollars. What would you do with the money? Be specific.
10. Economic Institutions 11. Incentives 12. Exchange 13. Money

6. Must write the question! and Write a paragraph response:
5. As a percentage of income, how much money should the government be able to take from your taxes?
14. Markets 15. Prices 16. Supply 17. Demand

7. Must write the question! and Write a paragraph response:
6. Describe an item that you would like to buy but which you do not have the money for at this point. How might you legally earn the money to complete your purchase?
18. Competition 19. Market Structure 20. Income Distribution

8. Must write the question! and Write a paragraph response:
7. Would you rather have the freedom to keep the money you earn or be required to give that money to others who earn less than you? Explain your answer.
21. Market Failures 22. The Role of the Government 23. Gross Domestic Product

9. Must write the question! and Write a paragraph response:
8. What company would you like to buy stock in? Explain your choice.
24. Aggregate Supply 25. Aggregate Demand 26. Unemployment

10. Must write the question! and Write a paragraph response:
9. Should chartable donations lower the amount of tax you owe to the government?
27. Inflation 28. Deflation 29. Factors of Production

11. Must write the question! and Write a paragraph response:
10. According to the Law of Diminishing Marginal Returns, the pleasure you derive from an economic good will decrease over time. Explain an instance of this in your own life.
30. Monetary Policy 31. Fiscal Policy 32. Absolute Advantage

12. Must write the question! and Write a paragraph response:
11. How important is it to know your credit score as you get older? Explain your answer.
33. Comparative Advantage 34. Barriers to Trade 35. Exchange Rates

13. Must write the question! and Write a paragraph response:
12. What are your career goals? How much money do you really believe that you will make within 10 years of graduation.
36. Balance of Payments 37. International Aspects of Growth and Stability 38. Barter

14. Must write the question! and Write a paragraph response:
13. Think of a recent purchase you made with which you were unhappy. Why were you unhappy with it? Why did you purchase it in the first place?
39. Budget 40. Compound Interest 41. Credit

15. Must write the question! and Write a paragraph response:
14. High school students should (have, not have) access to credit. Explain.
42. Deflation 43. Economics 44. Entrepreneurship

16. Must write the question! and Write a paragraph response:
15. Invent a product in your mind that you think would be a huge money maker. Describe it in detail.
45. Equilibrium Price 46. Federal Reserve 47. Invisible Hand

17. Must write the question! and Write a paragraph response:
16. I am a (saver/spender) because…
48. Labor Force 49. Macroeconomics 50. Monopoly

18. Must write the question! and Write a paragraph response:
17. I believe that welfare is…
51. Microeconomics 52. Tariff 53. Eminent Domain-the right of a government or its agent to expropriate private property for public use, with payment of compensation.

19. Must write the question! and Write a paragraph response:
18. My parent(s) or guardian(s) attitude money is…
54.Oligopoly 55. Perfect Competition 56. Price Floor

20. Must write the question! and Write a paragraph response:
19. Making money is…
57. Price Elasticity of Supply 58. Price Elasticity of Demand

21. Must write the question! and Write a paragraph response:
20. To which charity would you most likely give a donation? Explain your answer.
59. Recession 60. Special Interest Group