At the end of each chapter is a section titled “Key Concepts”, and next to each concept is a corresponding page where you will find its definition. Please expand on the text’s given definition, using other relevant terms from the chapter, and also give a practical example of that key concept. Please don’t simply supply the text definition. This is not what I want. I’m looking for your input showing a basic understanding of each “Key Concept”. A 1 or 2 sentence answer is not acceptable, nor is a few bullet points. Show me you understand the concept.
Use apa format.
Use the book and internet sources to provide in depth thought that you understand the concept.
Use more than one source for the concept. And paraphrase both to show we understand both concepts. At least a paragraph per concept .
Mankiw, N. Gregory, Principles of Economics. Mason, Ohio: South-Western. 7th Edition.