Ashford ECO 203 Week 1 Discussion 1 and 2

Discussion 1

Discuss how your college education could be considered an investment in human capital. What is the opportunity cost of your degree?

Discussion 2

Economics is the study of how society chooses to allocate its scarce productive resources (labor, capital, land, entrepreneurial talent).

In a mixed economy, elements of both central planning and market allocation of resources are used in allocating productive resources.The United States economy is a mixed economy, with a bias towards market allocation of resources.This means most resources are allocated in the private sector by way of markets.

Discuss whether you favor a larger or smaller role of government in the economy.Refer to concepts found in the reading to support your opinion.