Sample Economics 1326 essay questions for review
1. Explain the main differences between modern agriculture and traditional agriculture as
represented by the medieval manorial system.
2. Explain fully how the economic question of who receives an economy’s output of goods and
services (distribution) is handled under tradition, command, and market economic arrangements.
3 .Explain fully how the economic questions of what good and services get produced and how
they get produced are handled under tradition, command, and market economic arrangements
4. The evaluation of an economy’s factors of production (resource inputs) is critical to the
determination of that economy’s production potential. Select two (2) of the four factors of
production and explain how to assess the quantity and quality of those factors.
5. Trace the development of manufacturing (secondary) industry from medieval period to the
20thcentury. Highlight the major technological, economic, and organizational characteristics of
this evolution, citing the relevant historical evidence to support your arguments.
6. An "industrial revolution" is a phenomenon with technological, economic, and social
dimensions. Using the historical evidence from Great Britain, carefully identify and explain the
characteristics of these dimensions.
7. The achievement of mercantilist objectives involved the use of both domestic and foreign
economic policies. Explain fully both the domestic and foreign economic policies that were
widely used to achieve mercantilist objectives in Europe during the period between the end of
the medieval period and the first industrial revolution.
8. The current global financial and economic crisis has produced a re-examination of the Great
Depression in an effort to understand it better. Using the textbook, the homepage files and the
outside readings, discuss the Great Depression from the perspective of its causes and the policies
which attempted to restore economic prosperity. Be sure to include in your discussion commentary
on the effectiveness of these policies.
9. Energy, either animate or inanimate, is necessary for the production of goods and services. Trace
the evolution of energy development in the Western Community. Be sure to consider the sources of
energy, energy technology, and fuels in your discussion.
10. Using our “model of industrial structure,” explain fully how two of the three components
of the European production system changed after the decline of the medieval economy, during
the transition period 1500 to 1750 ( before the first industrial revolution).
11. Japan was the first Asian country to industrialize. Its industrialization differed in several
important ways from previous industrializations in Europe and the United States. This provided
hope for the economic development potential of many poor societies. Explain carefully how the
industrialization of Japan differed from prior industrializations. 12. The industrial revolutions of France and Germany provide important contrasts and lessons
about the industrialization process. Explain these difference industrialization experiences
illustrated by these two countries.

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