ECO2013 Reflection PaperScarcity, Opportunity Cost, Wants, Entrepreneurship, 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.General Instructions: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;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.As you produce your response, you should also consider the following:Additional Information & Tips from the Instructor:It is important that you recognize, that in this assignment, you are required to think critically, hence the critical thinking tools shared in this course can be very helpful. Try to the identify the Elements of Thought that are part of the logic or reason, for your change in perspective in regards to this concept. If you reviewed our critical thinking tools, you know, that the are 8 Elements of Thought; Purpose, Question at Issue, Information, Concepts, Point of View, Assumptions, Conclusions, and Implications. I am going to lead by example, and state a few of these, as they relate to this assignment.Note, that in order to answer the Question at Issue, and accomplish the Purpose of this assignment, you need to produce or compose:Remember, that your response will be evaluated in accordance to the following Intellectual Standards; Clarity, Accuracy, Precision, Relevance and Logic. In other words, your grade will depend, on how clear, accurate, precise, relevant and logical your response is. As you write and draft your response, use the questions below to solicit or achieve each standard.
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