Discuss how your college education
could be considered an investment in human capital. What is the
opportunity cost of your degree?
Economics is the study
of how society chooses to allocate its scarce productive resources (labor,
capital, land, entrepreneurial talent).
In a mixed economy,
elements of both central planning and market allocation of resources are used
in allocating productive resources. The
United States economy is a mixed economy, with a bias towards market allocation
of resources. This means most resources
are allocated in the private sector by way of markets.
whether you favor a larger or smaller role of government in the economy. Refer to concepts found in the reading to
support your opinion.