Economic Activities Essay -Examine the nature of economics and economic activities that impact small business.

Introduction: You will explore the economic principles and concepts pertinent to small-business ownership. You will determine the characteristics of the economy in which your business will operate, whether your business will provide goods or services, and the potential impact that government decisions will have on your business and how to plan accordingly. This lesson provides an in-depth observation of the economy and government regulations for small business. The first topic provides insight into the types of economic systems. Deliverables The essay for this lesson is required to be a minimum of 750 words that clearly demonstrate your understanding of the activity. Essays should have a clear introduction, thesis statement and conclusion, written in APA format. A minimum of three sources, at least two from the lesson, must be cited in-text and in the Reference list. Activity Details Step 1: Write a paper. Read the following questions, and use what you have learned about this lesson’s objectives to summarize your responses to the following prompts: Describe your ideal capitalist economy. What indicators would you use to measure goods and services? What happens when the quantity demand is impacted? Describe your socialist economy. Explain whom goods and services will be produced for. What happens when price flooring is in effect, and how does it impact your labor market? Step 2: Write a 750-word paper. Use these writing guidelines: Include a cover page and a reference page in addition to your required word count. Use correct APA format. Double-space text. Use size 12 Times New Roman font. Indent paragraphs. Include in-text citations as appropriate. Use correct spelling, grammar, sentence structure and verb tense. Use section headings to organize.