Economics Unit 1 Final Essay

Directions:
Write a short essay (on Pages) answering EACH prompt question below. You will
answer BOTH questions, and you will submit at least 1 page of written work for each
question (at least 2 total).
Use a readable font, size 12 pt.
Double-space your text
Use .75 or 1 inch margins
Cite at least 2 sources in MLA style
Use the basics of MLA format, and include a works cited page
Give each essay a short introduction and conclusion





Prompt #1:
Carl Marx discusses a progression from capitalism to communism as workers demand
more rights, and as the government must step in to protect the people from exploitation.
Do you think that this theory is valid? In other words, do you think that it is possible for a
nation to gradually progress from capitalism, through socialism, to communism?

Support your answer with at least one example of events happening in the world today
(modern example) and one historical example (past example).





Prompt #2:
Why do we study economics? Connect your answer to your understanding of
specialization and trade. Additionally, demonstrate your understanding of at least one
other key concept from this class so far (examples: scarcity, opportunity cost, incentives,
economic systems, the three fundamental questions of economics, etc.)