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1. Read the article on the current situation in Venezuela (feel free to research on your own for more information) → link: Venezuela crisis: How the political situation escalated

2. Upload your individual response of 2-3 paragraphs (about 1 page) to any or all of the following questions. Your response will clearly involve some amount of opinion, but do your best at thinking through and analyzing the questions fully before writing your answer. Carefully organize your writing before uploading your response, and any information from outside sources must be cited appropriately using MLA style. You should upload these to the “Assignments” folder.  Please be sure you save your assignment as .rtf, .docx, .doc in order to upload.  See the attached rubric  for how you will be graded on this assignment.

Questions

  1. How does the situation in Venezuela connect to ideas we’ve discussed in the first chapters in class (think about opportunity cost, supply & demand, shortages, command vs. market economy, etc.)?
  2. What do you see as the best strategy for Venezuela going forward?
  3. What could the Venezuelan government do to potentially improve the situation?
  4. What can people living in Venezuela do to potentially improve their own households’ situations?