teacher gave this Q under Homer's chapter and gave the following link for referance, but one can answer in general that, What are they (classic stories) used to portray about our society or what values do they seek to impart?
This concept of arete that is highlighted in #2 is very important in my opinion. You might want to think about the legacy of Homer's work on Greek society at large. It is clear that his two poems are epic narratives in that they perform the function of myths or legends for the Greek people and the characteristics and struggles of Achilles and Odysseus are very important in providing models of what (and what not) to do to achieve arete.
I feel that the answer to this question lies in the conclusion of the article. The assertion that Homer's works instill the extolling of honor and arete, greatness, probably ends up being the two values that are imparted to Greek society and the legacy of the works. Both works speak to the idea that an individual's honor is vitally important. The article uses Achilles and Odysseus as examples of how honor is a motivating factor in allowing individuals to take on superhuman tasks or endeavors that would frighten others. At the same time, the article makes the argument that both heroes operate on a high level of arete, or greatness on the battlefield, that inspires the reader. One can only hope to act as the caliber of both heroes in their greatness and this becomes another legacy of what is imparted for the Greeks and to future generations upon reading Homer's works.