Discussion questions
Question1
Prompt: Read “YOU’RE THE ECONOMIST: Cigarette Smoking Price Elasticity of Demand” in Chapter 5. According to the previous discussion, what factors influence the price elasticity of demand for cigarettes? What other factors not mentioned in the article might also influence the price elasticity of demand for cigarettes?
Requirements: 250 words minimum initial post, 100 words minimum reply
Question 2
Prompt: Read the assigned Scriptures and use them, or other relevant Scriptures, to discuss what the Bible says about private ownership and trade. How are they different from the understanding of their economic roles? What are the differences between the roles of government in the Bible and the market economy?