ECO212
ECO 212 Week 1 Individual Assignment How People Make Economic Decisions Paper
Individual Assignment due Day 7: How People Make Economic Decisions Paper
Write a 350- to 700-word paper in which you address the following:
Briefly explain the principles of individual decision-making.
Provide an example of a decision in which you compared the marginal benefits and the marginal costs associated with that decision.
What were the marginal benefits and marginal costs associated with that decision?
What incentives could have led you to make a different decision?
Explain how the principles of economics relate to decision-making, interaction, and the workings of the economy as a whole.
Briefly describe the main attributes of the following economic systems: market economy, centrally planned economy, and mixed economy.
Explain how economic interactions are affected by the type of economic system present.
Format your paper consistent with APA guidelines.
ECO 212 Week 1 DQ 1
What is Economics? How do you see it applied in your personal and professional endeavors?
ECO 212 Week 1 DQ 2
What is elasticity? What makes a product elastic? What makes a product inelastic?
ECO 212 Week 2 Learning Team Assignment Supply, Demand and Price Elasticity Paper
Learning Team Assignment Due Day 7: Supply, Demand and Price Elasticity Paper
List 10 commodities that you use daily. Examples of these products may include: salt, coffee beans, and wheat.
Choose one of these products from the list of commodity products. Assume that this product operates within a market economy.
Write a 700- to 1,050-word paper addressing the following for the team’s chosen commodity:
Identify causes for shifts in supply and demand for the chosen product.
Explain how these shifts in supply and demand influence price, quantity and market equilibrium.
Determine whether your commodity is a necessity or a luxury product. Identify the availability of substitutes for the product chosen by the team. Explain how the necessity of a good and the availability of substitutes impact the price elasticity of the product.
Format your paper consistent with APA guidelines.
ECO 212 Week 2 DQ 1
What are the four Market Structures? Please list a distinguishing characteristic of each. Why should business managers understand this concept?
ECO 212 Week 2 DQ 2
What is the Law of Diminishing Returns? What are the impacts to an organization when the Law takes effect?
ECO 212 Week 2 DQ 3
What does the term "Marginal" mean? How is it applied in Microeconomics?
ECO 212 Week 3 Learning Team Assignment Differentiating Between Market Structures Paper
Learning Team Assignment Due Day 7: Differentiating Between Market Structures Table and Paper
Resources: Market Structure Table
Complete the Market Structure Table located on your student web site.
Write a 1,050- to 1,400-word paper addressing the following questions:
Compare and contrast public goods, private goods, common resources, and natural monopolies.
Explain how labor market equilibrium is affected by the supply and demand of labor.
Select an organization with which you are familiar and identify the market structure of that organization. Describe the characteristics of the organization that make it a specific market structure. Evaluate the effectiveness of this structure for the organization.
For your selected organization, summarize the factors that affect labor supply and demand.
Submit the team’s paper and table as separate documents.
Format your paper consistent with APA guidelines.
ECO 212 Week 3 DQ 1
What is Macroeconomics? How does it differ from Microeconomics?
ECO 212 Week 3 DQ 2
What is Gross Domestic Product? What are its components? Which is the largest component, and what does this bode for our economy?
ECO 212 Week 3 DQ 3
What is inflation? What is unemployment? Is there a relationship between the two?
ECO 212 Week 4 Individual Assignment Measuring Economic Health Memo
Individual Assignment Due Day 7: Measuring Economic Health Memo
Write a 350- to 700-word memo addressing the following:
Describe the use of Gross Domestic Product (GDP) to measure the business cycle.
Describe the roles of government bodies that determine national fiscal policies.
Explain the effects of fiscal policies on the economy’s production and employment. How do changes in government spending and taxes positively or negatively affect the economy’s production and employment?
Format your paper consistent with APA guidelines.
ECO 212 Week 4 DQ 1
What is the Federal Reserve? How is it structured, what are some tools that it uses to conduct Monetary Policy?
ECO 212 Week 4 DQ 2
What is Fiscal Policy? Who conducts Fiscal Policy, and how is it different from the Monetary Policy conducted by the Federal Reserve?
ECO 212 Week 4 DQ 3
What is the business cycle and what are its key stages? What stage of the business cycle are we currently in now?
ECO 212 Week 5 Learning Team Assignment International Trade Simulation and Report
ECO 212 Week 5 DQ 1
What are the terms of trade? Why are they important to consider in International Trade theory?
ECO 212 Week 5 DQ 2
What causes a currency to rise? What causes a currency to fall? How are currencies valued today?
ECO 212 Week 5 DQ 3
What is the World Trade Organization? What does it do and why is it important to international trade?