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“The highest patriotism is not a blind acceptance of official policy,
but a love of one's country deep enough to call her to a higher plain”(SIC)
George McGovern

'Work is not a curse, it is the prerogative of intelligence, the only means to manhood and the measure of civilization.' Calvin Coolidge

Example Mythconceptions

Below you will find examples of economic myths. You may use one of these myths BUT I prefer that you think of your own myth. Think of something that people often say that you now know is not fact but opinion.

1. Economics is all about institutions and mathematical models.

2. Economics is all about money.

3. Bad choices have costs but good choices do not.

4. Scarcity is more of a problem for the poor.

5. Once a choice is made people must stick to it. Once you've made a choice you should stick to it.

6. Demand for a good or service is constant.

7. Supply and demand curves move "up" and "down".

8. When the price of an item increases consumers will always buy less of the item.

9. Price Ceilings and Price Floors help the economy run more efficiently.

10. It is not fair when people pay different prices for the same thing.

11. Businesses that do not make a profit go out of business.

12. All business environments are the same.

13. Big businesses are more likely to be successful.

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Revised: 10/22/2008

URL: http://www2.mcsdk12.org/dmr25