Question
Based on the above video clip, which of the Eight Guideposts is/are addressed and explain why?
Watch: FI$H – How an Economy Grows (Episode 2: Get Shirty) [5:37 minutes]
• Based on the above video clip, which of the Eight Guideposts is/are addressed and explain why? Explain in your own words, what drives Able and Charlie to trade? What is/are the underlying assumption(s) that allows the trade to occur?
• Requirements: 250 words minimum initial post, 100 words minimum reply. Your analysis should make economic sense, rather than “common sense.
• Read: It’s the Margin That Counts (Dwight R. Lee)
• After reading the above article, relate the discussions of the Eight Guideposts in the textbook, explain why it is important to distinguish the marginal value and the total value?
• Requirements: 250 words minimum initial post, 100 words minimum reply. Your analysis should make economic sense, rather than “common sense.”
• Read: Running Out of Agricultural Land (Dwight R. Lee)
• According to this article, relate to the case “Protecting Endangered Species with Private Property Rights” in Chapter 2, discuss the key economic concepts are addressed in both articles. Explain why the private ownership is essential to individuals, firms, and the market economy? Without the protection of private ownership, what might happen to the economy?
Answer preview based on the above video clip, which of the Eight Guideposts is/are addressed and explain why
336 words