Write a 700- to 1,050-word paper summarizing the results.

Consider the following examples of economic activities:

  • Purchasing of groceries
  • Massive layoff of employees
  • Decrease in taxes

1) Describe how each of these activities economically affects government, households, and businesses. 2) Describe the flow of resources from one entity to another for each activity. Note – Many students define economic terms, which is the point of the Week 1 paper and does not really belong in this week’s assignment. 3) Define these resources, labor, time, money (capital), land, and entrepreneurship. 4) Relate at least one current event to the activities.