List:

Opportunity Cost, Scarcity, Production Efficiency, Allocative Efficiency, Incentives, Human Capital, Specialization, and Comparative Advantage

General Instructions:

Choose one concept from the list above, and write a paper a 350 to 500 word paper  in which you state a response to the following prompt;

“Before participating in the Graded Discussion 1, I thought about (one of the concepts from the list) in this way …, now I think … “.

You are free to organize and arrange your sentences and paragraphs in any you see fit, but your response MUST at least have the following 5 elements:

It must state and define the concept or idea.

It must explain how you viewed or understood the concept before this class.

It must explain your new way of viewing, or understanding the concept.

It must say the reason why your perspective, or understanding changed. In other words, what did you do, see, or hear as a result of this class that helped transform your opinion.

It must have information, data or facts, that supports the reason for your change. The information, data or facts can be presented in the form of an example, or as part of an explanation

If appropriate, cite references using in-text APA citation style. In-text citations are placed within sentences and paragraphs.  Stick to the 500 word maximum