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 website about Writing a Position Paper. Note, position papers are usually 1 page in length.

Open the discussion with a brief introduction to the topic. For example, you might use something like the following. "Like many disciplines, economicsuses 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)."

• Define the assigned term in your own words.
• 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.
• Do not just list the above in bullet-point style.