Broward College The Concept of Consumption Discussion

YOUR TASK 

• Scarcity, Opportunity Cost, Wants, Markets, Law of Demand, Law of Supply, Market Failure, The Informal Economy, Unemployment Rate, Structural Unemployment, Human Capital, Inflation Rate, Gross Domestic Product, Consumption, Economic Growth, Supply Side Fiscal Policy, Taxation, Public Debt, Fiat Money, Cryptocurrencies, Liquidity, Trade-off between Risk and Return, Monetary Policy, and Saving.

Choose one concept from the list above, and write a paper a 500 to 550 word paper (500 words is the absolute minimum) in which you state a response to the following prompt;

“Before completing the assignments (Discussions, Scenarios, and Homework) in this course I thought about (one of the concepts from the list) in this way …, now I think … “.

ABOUT YOUR RESPONSE 

You are free to organize and arrange your sentences and paragraphs in any way you see fit, but your response MUST at least have the following 5 elements:

• It must state and define the concept or idea.
• It must explain how you viewed or understood the concept before completing the course assignments.
• It must explain your new way of viewing, or understanding the concept.
• It must say the reason why your perspective, or understanding changed. In other words, what did you do, see, or hear as a result of completing the assignments that helped transform your opinion.
• It must have information, data or facts, that supports the reason for your change. The information, data or facts can be presented in the form of an example, or as part of an explanation, but it must be explicitly connected to at least one of the assignments. 

As you produce your response, you should also consider the following:

• The implications of the change in perspective. In other words, now that you see this concept in this way, what are some of the things that will come after? What will you do differently? What follows? Also, analogies and metaphors are a great way to illustrate how one views a concept or an idea.