answer it Ik this activity, you will discuss about basic economic concepts and the state of the world'seconomy.Directions and AnalysisTask 1: Economic ConceptsPerform online or offline research to learn more about basic economic concepts and writeshort reports on each of the following topics:• three basic questions answered by the economy• key differences between needs and wantsimportance of the factors of productionTask 2: State of the World EconomyPerform online research and write a short essay on the state of the world's economy. Be sure toinclude the following points in your essay:comparison of the US economic system with other economic systemsthe ways in which Asian economies have changed the global trade scenario in the last ten yearsType your response here:SAMSUNG

Answered: Directions and Analysis Task 1:…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Ik this activity, you will discuss about basic economic concepts and the state of the world's
economy.
Directions and Analysis
Task 1: Economic Concepts
Perform online or offline research to learn more about basic economic concepts and write
short reports on each of the following topics:
• three basic questions answered by the economy
• key differences between needs and wants
importance of the factors of production
Task 2: State of the World Economy
Perform online research and write a short essay on the state of the world's economy. Be sure to
include the following points in your essay:
comparison of the US economic system with other economic systems
the ways in which Asian economies have changed the global trade scenario in the last ten years
Type your response here:
SAMSUNG

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