mics Story SUBJECT: 10 Economics PARAMETERS INSTRUCTIONS 1. Using the economics vernacular (terms) set out below, create two mini-essays demonstrating an understanding of the terms in both the "Economic Performance" (Point 4) and "Making Financial Decisions" (Point 5) sections. 2. Each mini-essay can be humorous, serious, etc. 3. The themes of the mini-essays and the terms' definitions must relate to economics. 1 4. Terms (Economic Performance): (1) economic indicator; (2) economic growth rate (3) unemployment; (4) inflation; (5) labor force; (6) market economy; (7) international competitiveness; (8) hyperinflation; (9) Human Development Index; (10) regulating business activity; (11) standard of living; (12) productivity; (13) employment pattern; (14) participation rate; (15) counter- cyclical policy; (16) debt level; (17) natural resource endowment; (18) income; (19) wealth; (20) net wealth; (21) distribution of income; (22) education access; (23) redistribution of income; (24) income inequality; (25) poverty. 2 5. Terms (Making Financial Decisions): (1) marketing; (2) Law of Demand; (3) income effect; (4) substitution effect; (5) finance; (6) consumer preferences; (7) ethical considerations; (8) environmental considerations; (9) investments; (10) liabilities; (11) interest rate; (12) variable rate; (13) fixed rate; (14) credit history; (15) investment risks; (16) diversification; (17) productivity; (18) capital; (19) market share; (20) merger. 6. All terms must be underlined. 7. VvVV A poster or series of posters may be used to communicate the terms in Point 4. RATIONALE 1. Students to develop an improved understanding of economic performance, ideas and vernacular. 2. Students to develop an improved understanding of the process of making financial decisions, ideas and vernacular