1. Describe what YOU think Economics means in one sentence. Please do not google this because it will spoil the learning process.
2. Consider the following example:

People can sell their time (in years) to other people in this fictional society. For instance, a 33 yr old can sell 5 years to a 55 year old for $4 million USD (this is an arbitrary number and has no particular meaning).

• Which group will primarily represent the seller? Which group will primarily represent the buyer?
• What do you think will happen over time to this society? Think of this carefully and write one or two sentences describing the consequences of this market