Economics is often described as ‘the study of human behaviour in making choices to satisfy unlimited wants from limited resources.’

For this discussion, answer the following questions about fundamental economic principles based on your course knowledge and experience. Then respond to at least two classmates.

1 a) Do you agree with the above statement about economics? Provide reasons. 1b) support your reasons by connecting to your own experiences. 

Your answer should be numbered and structured as follows:

1 a) I agree (or disagree) with the above statement because …

1. b) A personal experience that supports my response in 1a) is as follows …

2. Students often choose their education and career path based on demand and supply. For instance, at one time there was a high demand for dental hygienists. Colleges suddenly had an influx of students enrolling in dental hygiene and graduates easily found good paying employment. Over time the supply of hygienists exceeded the demand and the ability to find a dental hygiene job started becoming difficult and pay rates began decreasing.

a) Do you think that people should take the practical route and pursue careers where the required skills are in demand or do you think people should identify what they are really good at and pursue careers related to their natural abilities regardless of the demand and supply trends? Use personal experiences to support your response and incorporate demand and supply concepts from this course in your response.

b) Which of the two, taking a practical route or pursuing careers based on natural ability, do you think is best for the growth of an overall economy or society? Once again, provide personal experiences or knowledge to support your response and relate it to economic concepts you have learned thus far.

You response should be numbered as 2a. and 2b. with the same structure as noted for Q1. 

Respond to at least two classmates. 

Once again, in your original post number your responses as 1, 2a, 2b to match the above requirements numbers.

* Plagiarism will result in a zero grade. This discussion is based on course content as well as your personal opinion and experience.