1) Define - Look it up, provide a verbatim description from textor other resource.
2) Paraphrase - Put it in your own words, use vocabularyfamiliar to you and find a way to easily explain the term/conceptto someone else.
3) Connect - Examine how the term/concept is present (orlacking) in your life. Provide a story/example of a time when youhave noticed/evaluated the term/concept as part of yourexperience.
Additionally,
4)Please investigate the history of economics and report(Chronologically) on some of the major players/schools of thoughtand their contributions to the field.
reference