2.++Economic+concepts+and+theories

= 2. Economic concepts and theories = = = **Your task** 1. Press edit above 2. Move your cursor below your name (scroll down) - only work in the area under your name 3. Use Ms Stevenson's exemplar as an example

**Miss Stevenson's exemplar:** (note you can not use my topic! Go to your task sheet for more topic examples.)


 * **My Economic problem**: || Grandma has $1000 to spend on a pedigree dog to provide companionship, exercise and security. ||
 * ** Scarcity: ** || Describe how scarcity applies to the above problem ||
 * ** Opportunity Cost: ** || Describe how opportunity cost applies to the above problem ||
 * ** Circular Flow: ** || Describe how CFM applies to the above problem eg which sectors are involved and which $ flows are involved ||
 * ** Any others ..... ** ||  ||


 * David A**


 * **My Economic Problem** || Write in your answers here and below ||
 * **Scarcity** ||  ||
 * **Opportunity Cost** ||  ||
 * **Circular Flow** ||  ||
 * **Any others** ||  ||