Economics: Marking Period 1 Assessment

Planning a Wedding/Baby OR Health care costs in America

Due : November 8, 2011 Your group will be responsible for planning your wedding. You have all been assigned a budget, and will need to make choices based on that budget. What will you decide to include and what will you leave out? Which cultural and/or religious traditions will be included in your ceremony/reception, and how much will they cost? Who will pay for what, including your bridal party? You must cite all sources used! Costs that you will have to consider and report: Ceremony Fees Reception location Flowers Any religious requirements Marriage license Transportation Honeymoon which you plan to live (Union County) Resources:

Housing: investigate costs for purchase and rental in the towns in

www.census.gov www.theknot.com www.newjerseybride.com Union County Web Site

Your presentation can not be longer than 15 minutes and must incorporate the following topics: (There must be a minimum of two topics from each unit that we have covered, and all topics relevant to chapters 5 and 6 MUST be included) Scarcity The Price System Price Ceilings and Floors Utility Individual Demand Curves Opportunity Cost Supply & Demand Elasticity Budget Constraints Market Demand Curves Choice Market Equilibrium Mid-Point Formula Willingness to Pay Consumer Surplus

You must present your information verbally, graphically, and numerically.