Week 3 DB: Trade & you or Oil & Gas, Fracking and windmillsContains unread posts

Pick one topic from the two choices to post on:

1. TRADE and you - Please watch Planet Money. It is a show on National Public Radio that discusses the economy. This series (there are 5 quick videos) shows what it is like to make a t-shirt in today's economy.

After reviewing this video please post and discuss the following:

1. Pick 3 items randomly out of your closest. What are they and where werethey made?

2. Should/do we make t-shirts in the U.S. instead of going abroad? Explain in detail your answer and be sure to include research.

3. What is the most you would pay for a t-shirt made in this country? Or would you not pay any more for a t-shirt made in the U.S.? Why or why not?

4. Post your own question.

OR

2. OIL PRICES:How they affect you and the world

Think about opportunity costs, scarce resources, supply, demand, and the benefits of trade when you post.

Oil is a heavily traded commodity. The impact of oil on trade is immense and touches the economy of every country in the world. It is an economic resource and a geopolitical issue.

Research and answer the following questions:

1. Where does the US get our oil from? How much of it is imported?

2. How does price impact your consumption? Relate it to opportunity costs.

3. What about fracking-should we do it? What about the environmental stand point? Should the potential harm to the environment be calculated into the cost?

4. Should we put windmills off the coast of Maine?

5. Ask a question to the class.

Support your answers/opinions with research.