Description should include

explaining the concept that economics involves decisions made by individuals, businesses, and societies regarding the use of resources
researching economic activities such as production, consumption, distribution, and exchange and how they relate to marketing
researching economic resources (i.e., natural, human, and capital) used to produce goods and services
explaining the concept of scarcity as related to limited resources and unlimited wants.

Process/Skill Questions:

What are the basic economic questions that each society should answer? What are some different ways that societies answer these questions in today’s global economy?
What production, consumption, distribution, and exchange activities relate to marketing?
What are some examples from the current U.S. economy of human resource scarcity? Capital scarcity? Natural resource scarcity?
Why is entrepreneurship considered an economic resource?
How can a nation use its resources to produce and distribute goods and services?
How do businesses and societies deal with scarcity?