allied ecn151 Module 1 homework latest 2015 november

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Student Name

Allied American University

Author Note

This paper was prepared for [INSERT COURSE NAME], [INSERT COURSE ASSIGNMENT] taught by [INSERT INSTRUCTOR’S NAME].

PART I

Directions: Please write a paper that is at least two pages in length in which you address the questions below. Write your paper in APA format with at least one cited scholarly reference. Please utilize the LIRN library to help you get started with your research. You may visit the Academic Resource Center for a guide on how to utilize the LIRN library successfully.

1. List and explain the three principles of how people interact. Provide specific examples from your experience to illustrate each principle.

2. Identify two scholars who have helped to pave the road for economists by creating a basic framework of macroeconomics. Identify their principle contributions and cite and reference their work.

PART II

Directions: Write a paper that describes the ways in which people having free choice and companies being allowed to trade can increase the overall wealth of a country. Your submission must be at least two pages in length and in APA format with at least one scholarly citation. Please utilize the LIRN library to help you get started with your research. You may visit the Academic Resource Center for a guide on how to utilize the LIRN library successfully.

PART III: Reflection Paper

Directions: Write a paper that is at least one page in length in response to the following prompt. Your work should be in APA format.

1. Describe a personal example in which you chose to specialize in an activity that you were good at and traded with others to meet other needs in your life. Relate this to this module’s discussions about marginal cost and marginal benefit. How did you come to the decision that you made?