Question:

Unit 6 Understanding Contracts

Understanding the various kinds of contracts such as insurance or estate planning can be overwhelming. Which is why for this lab, be selecting one of the contract categories discussed in the unit and creating a brochure that takes an in-depth look at it. You may choose to create brochure on Insurance or perhaps Estate Planning (which includes living and last wills) for example.

While you have plenty of creative freedom in terms of how you will format your brochure, you will need to make sure that it addresses whatever category of contracts you have selected. To help you map out the information that you will need to include, use the following checklist to guide your information gathering whether it be from the unit or from online research (likely a combination of both):

An overall explanation of contracts

5 main elements of most contracts

An overall description of the contract category you selected

The purpose (in general) (the purpose of insurance or the purpose of estate planning)

Why are these types of contracts important?

Who might need or use these types of contracts? Why?

At least three examples of contracts that fall within this category (i.e. health insurance) with a detailed description of each

Any other essential information that one might need to know about this particular category of contracts

Your brochure should include a clear title, several images or graphics, and be organized into various sections. Imagine that this brochure could sit on the counter at an insurance agency or estate planning office and offer newcomers valuable information to get them started.

Refer to the rubric below for more information on how you will be graded. Please include a list of any websites or online resources that you use in your research.

Which one of the following is true? Select one: a. Microeconomics is the study of an economy as a whole. b. Macroeconomics studies how individuals make choices. c. The study of the inflation rate is covered under microeconomics, d. The study of the unemployment rate is covered under macroeconomics Microeconomics describes what economic agents actually do, whereas macroeconomics describes what economic agents ought to do10 poin The basic difference between macroeconomics and microeconomics is that: macroeconomics is concerned with generalization while microeconomics is concerned with specialization. microeconomics looks at the forest (aggregate markets) while macroeconomics looks at the trees (individual markets). microeconomics is concerned with the trees (individual markets) while macroeconomics is concerned with the forest (aggregate markets). macroeconomics is concerned with groups of individuals while microeconomics is concerned with single countries