the Text book that is required is free online at https://openstax.org/details/books/principles-macroeconomics-2e.
I’m trying to study for my Economics course and I need some help to understand this question.
- Read “Link It Up” in Section 1.1 of the textbook. It is under the subheading of “The Problem of Scarcity”. After reading the story, how are different states dealing with scarcity in resources? Which ideas do you like the most or dislike the most? Justify your answer.
- Refer to 1.4 of the textbook and find “Clear It Up”, you will find a list of countries that are either considered one of the most economically free or one of the least economically free. How do they define economic freedom and does it offer insight on whether that country is considered to be more of a market economy or a command economy. Try to justify your answer using the definitions of each. (Note: You might want to look up the Heritage Foundation’s Index of Economic Freedom to learn more on how they define economic freedom.)
- Why were bacon prices rising in 2017? After reading the article, identify some of the reasons why they said bacon prices were rising so high. Can you identify some demand and supply factors that might be causing the higher prices? Explain your rationale. Link: https://www.marketwatch.com/story/why-bacon-prices-are-skyrocketing-this-summer-2017-07-13
- Why would regulation requiring solar panels drive up housing prices? After reading the article, explain why they think this type of regulation will increase the price of housing. Is there a way to explain why after reading Chapter 3? Is it due to demand or supply? Explain your rationale. Link: https://www.sierraclub.org/sierra/california-first-nation-require-solar-new-homes#.W4_Kr5YDEzE.twitter
When answering each of these questions, I would like you to either reference the textbook or outside source to support your answer. Use the APA format for any citations used.