Essay #2 Grading Rubric * CH 202
Documented Visit to the writing center _ 5 bonus points
Essay is at least 6 full pages/1500 words _ (% deduction for falling short of requirement)
Uploaded by October 30th, 11:59pm _(% deduction for late submissio
Writing Assignment Commanding Heights
The core debate featured in the Commanding Heights documentary was
about the economy and market forces. The debate is sparked by the 1914
Worldwide War. Along with the economic depression, many people were
Chapter 1 What is economics and why should we care?
The Basic Economic problem
o Everyone has wants and needs
o Satisfaction is received when a need or want is fulfilled
o A resource is scarce if it is not as available as other res
Principles of Macroeconomics
Economics 103: 7:00-9:00 PM Tu-Th AB 110
Professor Tatjana Vukovic
Office Hours: by appointment
This core social science course for the University of Nevada
Chapter 5 Review Questions
1) What questions can a standard labor market model address?
A standard labor market model can address the following:
i. What determines the economys wage level?
ii. What determines the economys employment level?
Chapter 4 - Production
What is Production?
o Definition the general term used to describe a process in which input resources
are transformed into outputs
Output what is generated by all of the various production processes in
Chapter 3 Review Questions
1) What are facts?
Facts are things that we can observe that are proven to be true. It is also true that
what we describe as fact will depend on our perceptions.
2) Give an example of facts that can and facts that cann
Chapter 2 Review Questions
1) Compare theft and taxation, briefly discussing their similarities and
Theft and taxation are similar in that the party receiving the resources is
able to obtain the resources, even if the party who gives up the
Chapter 1 Review
1) Why are most resources scarce?
Scarcity arises when a resource is limited relative to the desires of people
to use it. Scarcity is common because the typical resource has many
uses and many people would like to use
The Class Dilemma
The Class system is a byproduct of capitalism and competition and is considered by some
to be the downfall of civilization, while it is considered by others to be intrinsic to the structure of
society. Capitalism breeds both competition