On Section one be sure you address the following questions, should be in 3-4 paragraphs..be precise and concise. I am looking for a logical sequential development of the concepts, not simply definitions. this is NOT to be a glossary, but written cohesive paragraphs with topic sentences and transitions.
These topics/questions are NOT in a logical order. It is your job to choose a logical starting point and develop (not just start with a new term) one concept into the next. This IS DIFFICULT. Spend some time thinking about the order of presentation.
This section may be up to 1.5 pages in length.
1) identify the major resources and define each
2) define a shortage
3) explain how they relate to one another
4) define opp cost
5) define scarcity
6) why can't we have everything we want?
7) differentiate between scarcity and a shortage