Economic concepts and choices surround us every day. By studying economics, we b

Economic concepts and choices surround us every day. By studying economics, we better understand these concepts and can make better choices. In the paper, students must identify and define FIVE economic concepts (from 5 different chapters) that you have learned in class and discuss each in a detailed paragraph about how you have experienced each economic concept in action as a consumer, employee, employer or voter.
Your definitions must be phrased to be easily understood by a person who has NEVER studied Economics.
Write a well organized paragraph including a detailed definition and an example, on each of the five concepts.
IMPORTANT: include your unique experiences and observations.
discuss in detail how you have experienced them in action as a consumer, employee, employer or voter. This needs to be a full paragraph with 10 sentences
The topics are : Inflation, Recession, Supply and demand, Fiscal Policy, and monopoly.