Friday, January 7, 2011

Blood Diamond Essay - 100 Points

Essay/Summary:   Due Tuesday 1-1/2 pages

After viewing the video, “Blood Diamond”, write a summary/explanation of the video using the following economic terms;

-         Land                                      
-         Labor                                                                 
-         Capital                                                                
-         Entrepreneurship                                     
-         paradox of value
    - wants                               
    - opportunity cost
     - needs 
     - wealth
     - scarcity
     - utility
     - limited resources
     - comparative advantage

Your essay should be logical and clear enough so that the reader understands the context of the movie based on the economic terms above. Give examples and background information (contextualize) for each term. Use your notes and our discussions in class to help you.

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