Question #1:

Writing Assignment: Economic Laws

Prepare a 2-3 page paper using APA format discussing problem 12 in the "Problems to Ponder" section at the end of chapter 2 (see below) Be as specific as possible.  Are poor countries somehow "different" than wealthy countries?

How can firms and markets increase the wealth of poor countries?  Be sure to address each question in the problem.  You may include a discussion of some of the Ten Principles of Economics in your paper.

Your paper should reflect scholarly writing and current APA standards. Please include citations to support your ideas.


Problems to Ponder #12:

Many social scientists say that poorer Third world countries should reject "model based on economic laws" of universal validity. According to them, there are no universal laws. Do you agree? What laws discussed in this chapter would not apply to poorer nations? Should every nation be democratic and free? Which universal human rights should no government or citizen violate? The right of free speech, religious conscience, a fair trial? Should property rights be enforced everywhere? If so how?