Insert your answers in the appropriate space provided for the question. Your answers should

a. follow current APA format with citations to your sources,

b. include a list of references at the bottom of your last page,

c. be in Standard English with correct spelling, punctuation, grammar, and style,

d. be double-spaced,

e. be formatted in Times New Roman,12-point, black font, and

f. respond to questions in a thorough manner, providing specific examples of concepts, topics, definitions, and other elements asked for in the questions.

Assignment:

In this assignment, you will demonstrate your understanding of certain economic principles that underlie virtually all decisions that people make. Specifically, you will investigate the concept of opportunity costs by selecting the correct underlying principle and explaining in a series of logical steps which would likely produce the results described.

2. During improving economic conditions, much additional construction of homes and condos throughout much of the U.S. takes place. This provides a significant increase in the income of workers in the construction trades. Many of the construction workers are immigrants and have family and relatives in other countries. Often these workers will send part of their income to their less fortunate relatives in their old country, especially in Mexico and some of the South American countries.

a. Which of the 12 basic economic principles outlined in the course textbook best describes this situation?

(Enter your response here.)

b. Using the principle you have selected, describe the chain of events that best explains how the increased money sent to families in these South American countries will cycle through the economy of that country.

(Enter your response here.)

c. What overall effect will this have within these countries economies?

(Enter your response here.)