Activity 2: Relate Economic Concepts Homework

Please read all directions carefully and use the template provided as an attachment…PLEASE PLAGIARISM!Included in the attachments are the directions and template needed for this assignment. Also attached you will find the assignment from last week to help with this weeks assignment.Activity 2: Relate Economic Concepts to Current Events (30 points)As your knowledge of economic concepts grows, it’s helpful to practice talking about them in terms of current events you might see at work or home.Select one of the economic concepts covered in weeks 1–2 (scarcity, supply, demand, choice, equilibrium) and answer these questions:1. What is the economic concept you selected?2. How would you describe this concept to a friend or colleague?3. What is a current event, article, or video that relates to this concept? (Include the URL link to a video or article that further discusses this concept, but do not use Wikipedia.)4. How does this current event, article, or video relate to this concept?Use the Activity 2 template to answer each question and submit your responses by the due date.
eco100_activity_2_assignment_and_template.docx

eco100_activity_1_brenda_frye.docx

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Activity 2: Relate Economic Concepts to Current Events (30 points)
As your knowledge of economic concepts grows, it’s helpful to practice talking about them in
terms of current events you might see at work or home.
Select one of the economic concepts covered in weeks 1–2 (scarcity, supply, demand, choice,
equilibrium) and answer these questions:
1. What is the economic concept you selected?
2. How would you describe this concept to a friend or colleague?
3. What is a current event, article, or video that relates to this concept? (Include the URL link to a
video or article that further discusses this concept, but do not use Wikipedia.)
4. How does this current event, article, or video relate to this concept?
Use the Activity 2 template to answer each question and submit your responses by the due date.
Activity 2: Relate Economic Concepts to Current Events Template
Name:
Date:
1. What is the economic concept you selected?
2. How would you describe this concept to a friend or colleague?
3. What is a current event, article, or video that relates to this concept? (Include the URL link to a
video or article that further discusses this concept, but do not use Wikipedia.)
4. How does this current event, article, or video relate to this concept?
Activity 1 Research Industry Background Template
Name: Brenda W. Frye
Date: 04 April 2018
1. List at least one industry you are interested in researching more for your assignments or list the
industry in which you work. (You can use supersector, sector, or subsector levels.)
The industry of interest is the Health Care and Social Assistance which is part of the super sector of
Education and Health services (United States Department of Labor, 2018).
2. What types of goods and/or services does this industry provide?
This particular industry is made up of establishments that ensure the provision of social assistance and
healthcare to individuals. All other sectors that exist in this segment are organized in a continuum
beginning with those that provide healthcare services and social help followed by those that only offer
social support (United States Department of Labor, 2018). Only trained specialists deliver services in
this industry. All segments have a standard process, specifically the social workers or health
practitioners’ labor inputs with the necessary proficiency. The description of most segments in this
sector is based on education degrees that practitioners hold (United States Department of Labor,
2018).
The major subsectors of the health care and social assistance industry include; Social Assistance,
Hospitals, Nursing and Residential Care facilities along with Ambulatory Health Care Services(United
States Department of Labor, 2018).
3. In what ways does scarcity impact this industry?
This industry is impacted by scarcity in terms of limited resources and unfulfilled jobs. Resources are
limited in terms of the workforce, hospitals, and equipment. The workforce that is currently present in
this industry is inadequate to meet the needs of the entire population of the United States. Hospitals
and essential equipment required for service delivery are also inadequate which creates a big
challenge in the delivery of healthcare and social support (United States Department of Labor, 2018).

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