Interactive Book: Thinking Like an Economist (Ch 02) Chapter 2 will familiarize you with how economists approach economic problems. Unit 1 DB: Terminology A$ Discussion Board: Refer to the table below to find which key conceptiterm you are assigned via your last name. Then create a discussion thread and: . Define the assigned term . Provide an original, economics-based explanation of the term . Provide a real/hypothetical contextual example (different from that provided in the text) of the term as it is applied to economics. Respond and engage with at least two of your classmates. Assigned Term Student Assigned Term Student Assigned Term Student Bova Scarcity Jackson Externality St Jean Gross Domestic Product (GDP) Butler Economics Jordan Informal Economy Thomas Consumer Price Index (CPI) Caquias Microeconomics Lockhart Inflation Vaugh Financial Intermediation Chadwick Macroeconomics Lyons Business Cycle Wilkie Open Market Operations Cooley Opportunity Cost Mitchell Monetary Policy Zilski Production Function Grady Unemployment Offutt Economic Growth Hague Fiscal Policy Richards Invisible Hand Hoenig Elasticity Scalera Circular-Flow Diagram Horton Market Economy Smith Trade-offs Howard Market Failure Spann Balance of Trade This discussion board is intended to introduce you to the economics terms we will cover in the class. You are to explain the term that you have been assigned as a presentation to the class. Please refer to the sample file attached to the welcome announcement. Open the discussion with a brief introduction to the topic. For example, you might use something like the following. "Like many disciplines, economics uses specific terminology to ensure complete understanding of the concepts employed. In this presentation, I would like to introduce you to the concepts of (the term the student is provided with)." MacBook Air DI DD EG ER FO F11 F12 A & W # A 5 6 8 O delete