Economics—The Big Idea Menu
For this project, you will select ONE option to complete from each of the topics (basic terms, trade barriers, economic systems) so that
you end up with 100 possible points.
Basic Economics Terms
(25 pts.)
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Supply
Demand
Consumer
Producer
Specialization
Entrepreneurship
Capital Goods
Human Capital
Natural Resource
GDP
Trade Barriers
(25 pts.)
Visual/Artistic
Verbal
Kinesthetic
Create a set of flashcards
including definitions and
examples for each of the above
economics terms.
Write a short narrative (~1
page) which incorporates each
of the basic economics terms in
the correct context. It should
be clear that you understand
the meaning of each term.
Write a song/poem/rap that
incorporates all of the basic
economics terms and their
meanings. This should be written
out as well as performed.
OR
Create a PowerPoint
presentation which includes
definitions and pictures for each
of the above economics terms.
Create simple illustrations or
flow charts showing how tariffs,
quotas, and embargos limit trade
between countries. You should
have one visual for each type of
trade barrier.
OR
Create a triple Venn diagram
comparing tariffs, quotas, and
embargos incorporating reasons
for using each. Include reasons
each would be used.
OR
Make a crossword puzzle
incorporating all of the basic
econ terms; use definitions (in
your own words) as the clues
for the puzzle.
OR
Create a collage of images
representing each of the
economic terms. On the back of
the collage, list the terms and
write a 1-2 sentence explanation
each about how the images relate
to their associated terms.
Read the article “50 Years
After Kennedy’s Ban,
Embargo on Cuba Remains”.
In three full paragraphs,
explain the reasons for the
embargo, the intended
consequences, and whether
you feel it has been
successful.
Create a board game that
involves players making various
economic or political decisions;
be sure to include tariffs, quotas,
and embargos as obstacles with
explanations of what each trade
barrier does.
Click here for article link.
Create a comic strip which
illustrates both the meaning of
and reasons for using EACH of
the following types of trade
barriers: tariff, quota, and
embargo.
OR
Write a 3-paragraph paper in
which you fully explain the
meanings of tariffs, quotas,
and embargos. For each,
include a real-life example of
when a country has used the
trade barrier against another,
why the barrier was used, and
what the outcome has been.
OR
Types of Economic
Systems
(50 pts.)
Write a 25 item multiple-choice,
matching, and fill in the blank
test about the types of economic
systems. Consider including
terms related to these systems
such as supply and demand,
consumer, producer, and
entrepreneurship. Also include
two short essay questions
requiring the test-taker to
evaluate the systems and justify
their reasoning.
OR
Create political cartoons for each
of the economic systems
(command, market, mixed,
traditional). Be sure to make
clear who is making decisions
about production and
consumption, and highlight any
pros or cons you consider
important.
Country Comparisons
(50 pts.)
Conduct research to find
examples of countries who
exemplify command, market,
and traditional economies.
Write detailed paragraphs (812 sentences) describing each
country’s economy by
highlighting elements that
represent their economic
systems. Close with a
paragraph describing what
you feel is the ideal economic
system.
OR
Write a speech designed to
compel the people of a society
to select the type of economy
you feel is most effective.
Make your argument by
indicating the strengths of your
system, and describe
weaknesses of the other
options.
Create a propaganda poster
designed to persuade the people
of a nation to adopt the economic
system you feel is the most
successful by highlighting the
benefits of that system using
images and few words.
OR
Write and perform a skit (or
create a movie) showing how one
society would operate using each
of the three economic systems as
well as a mixed economy. The
skit or movie should close with
the system you feel is best and
make clear your reasoning.
-Nigeria & South Africa
-Based upon the countries’ economic systems, natural resources, and the needs of their populations
(demand for certain goods), create a company concept that could be successful in one of the countries.
You will create some form of advertisement for your company such as a billboard, flyer, brochure, or
commercial.
-Write 8-12 sentences explaining all of the factors you considered which led you to select one country
for your company over the other. Be sure to discuss how government would impact your ability to start
a company as well as why the available resources and consumer demand helped you decide what to
produce.