Question

1. Have you ever thought of starting your own small business? Think of a good or service you might like to provide to your community. Then, describe how you would supply the good or service. How would you go about estimating demand for your good or service? Evaluate whether there would be enough demand for there to be a "market" for your good or service.

2. In a 1-2pagepaperdevelopthe concepts of the "circular flow" of goods and services. Begin by reviewing this video: Circular Flowfrom the St. Lois Federal Reserve. Here's the link: https://www.stlouisfed.org/education/economic-lowdown-video-series/episode-6-circular-flow

A transcript is available for the hearing impaired. Then, select one good you are familiar with. Describe how the good moves in relation to:

• Households
• Suppliers of goods and services
• Money