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Address the following questions in an essay or short-answer form. Support all your answers with references:
- Explain the difference between positive and normative economics. Give a real-time example of each that you found in doing some outside research.
- After doing some additional research on your own along with the assigned reading on public goods, answer the following questions:
- What are the two main characteristics of this type of good?
- What is the biggest â€œproblemâ€ with allocating public goods?
- Do you think the government should have a role in allocating public goods, or should goods be privatized?
Here’s a great site that offers definitions and examples of economic terms literally from A to Z; https://tinyurl.com/6rxna6a
- The following items will be assessed in particular:
- Length: 4â€“5 pages double-spaced and typed. Cite all sources within the text and in a reference list at the end of the paper.
- Your ability to follow prescribed assignment content guidelines.
- Your ability to apply the basic concepts to the questions.
- Some in-text references to the modular background readings (APA formatting not required).
- The essay should address each element of the assignment. Remember to support your answers with solid references, including the case readings.