| TASK 1: ECONOMIC CONCEPTS Perform online or offline research to learn more about basic economic concepts and write a
paragraph on each of the following topics:
three basic questions answered by the economy
• key differences between needs and wants
• importance of the factors of production

How many countries were represented at the paris negotiations (where the treaty of versailles was signed) in january 1919? what was president woodrow wilson’s peace plan called? who were the “big four”? (list their first and last name and the country they represented) what were some of the losses suffered by germany as a result of the treat of versailles? what clause in particular left the germans feeling like they were “stabbed in the back? ” by the victors? use this website for questions 6-12 what percentage of german territory was taken away? what happened to all of germany’s colonies? why did the allies include the “war guilt clause”? what were the political consequences of this clause? what are “reparations”? how much in reparations was germany forced to pay to the allies? why did the french invade the ruhr in 1923? what were the political consequences of this in germany? what future german leader and former german wwi soldier was particularly upset by the treaty of versailles? who did he blame for germany’s defeat? in what ways did hitler break the terms of the treaty of versailles?