This activity has three parts. Make sure you read on for details to complete them all!
Part One: Choose
Identify an economic issue that is important in your community. You may choose to talk to your instructors and members of your family. View a list of economic policy topics you may choose to consider.
Part Two: Research
Learn more about how this issue affects your community. You may choose to contact a local leader such as a member of your city or county council or representative from an a related citizen interest group. Consult an online phone book or community website for contact information. Use the Research Chart to document your data, take notes, and track your sources of information.
Part Three: Construct
Construct a circular-flow diagram for a business or industry in your community. Diagram the flow of goods, services, and money from your chosen industry to the various sectors of the local and world economy. For example, a factory in your community creates jobs and products. The income to the households creates spending in the economy as people consume products, invest, and pay taxes to the government.
Use the Research Chart to document how this business or industry’s activities affect the various sectors of the local and world economy.
Submit both the diagram and the chart in assessment 6.01.