C1, Show on a diagram the effect of a carbon tax (excise tax) on automobile fuel. Describe the assumptions and explain what happens in the short versus longer run.

C2. Describe what economics is and explain how an economist would argue decisions are made by consumers and producers. Use the terms economists would use.

C3. Explain why the labour market for skilled workers might differ from that of unskilled workers, using elasticity in your explanation.

C4. Explain why it is important to an economist to understand opportunity cost.