Conceptualize a business and apply these concepts(concepts are down below) to how it would operate for a profit and/or identify the possible impact of external forces [either government or free market created].

1. Compare and/or contrast the impact of various concepts, e.g. a market economy versus a command economy.

2.Show how various concepts interact with each other, e.g. trade, specialization, opportunity costs, incentives, comparative advantage, etc.

• Market Economy
• Command Economy
• The Wealth of Nations
• Positive Economics
• Normative Economics
• Production Possibility Frontier