Ten Principles of Economics and How Markets Work
Ten Principles of Economics and How Markets Work
As part of a marketing research committee for your organization, you have been assigned the task of preparing a 700-1,050 word research paper about current microeconomic thought and theory.
Use Principles of Microeconomics, Chs. 1, 2, 3, 4, 5, and 6, as the source for all your information.
Identify the fundamental lessons the Ten Principles of Economics teach about:
• How people make decisions
• How people interact
• How the economy as a whole works
Explain the following to help the committee members understand how markets work:
• How society manages its scarce resources and benefits from economic interdependence
• Why the demand curve slopes downward and the supply curve slopes upward
• Where is the point of equilibrium and what does it determine?
• The impact of price controls, taxes, and elasticity on changes in supply, demand and equilibrium prices
Format consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
ECO365 Principles of Microeconomics
Week 2 Assignment
Markets and the Economics of the Public Sector
Option #1 Word Count: 1,093 words!
Option #2 Word Count: 1,399 words!
Option #3 Word Count: 2,261 words!
You have been assigned to a team that has the responsibility of preparing a paper consisting of 1,750 words for the governor’s next economic conference. Your paper should address the following:
• Explain why equilibrium of supply and demand is desirable.
• Explain the following concepts using the concept of consumer and producer surplus:
• Efficiency of markets
• Costs of taxation
• Benefits of international trade
• Discuss how externalities may prevent market equilibrium and the various governments policies used to remedy the inefficiencies in markets caused by externalities.
• Analyze the difference between the efficiency of a tax system and the equity of a tax system as it refers to the costs imposed on taxpayers using the benefits principles.
Cite a minimum of 3 peer-reviewed sources, not including your textbook.
Format consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
ECO365 Principles of Microeconomics
Week 3 Assignment
Current Market Conditions Competitive Analysis
Option #1 – General Motors – Word Count: 2,216 words!
Option #2 – Apple, Inc. – Word Count: 1,619 words!
Option #3 – Apple, Inc. – Word Count: 2,232 words!
Option #4 – Coca Cola – Word Count: 1,778 words!
Option #5 – Starbucks – Word Count: 2,004 words!
You have been given the responsibility of working with your organization’s CEO to do a competitive market analysis of the potential success of one of their existing products.
Select your organization and a product produced by that organization from IndustryWeek.
Write a 2,100-word analysis of the current market conditions facing your product, making sure that you address the following topics:
• Define the type of market in which your selected product will compete, along with an analysis of competitors and customers.
• Analyze any comparative advantages and international trade opportunities.
• Explain the factors that will affect demand, supply, and prices of that product.
• Examine factors that will affect Total Revenue, including but not limited to:
• Price elasticity of demand
• Factors that influence productivity
• Various measures of costs, including opportunity costs
• Externalities and government public policy and their effect on marginal revenue and marginal cost
• Recommend how your organization can maximize their profit-making potential and increase their presence within the market served by the product.
Use a minimum of 3 peer-reviewed sources from the University Library.
Format your paper consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
ECO365 Principles of Microeconomics
Week 4 Assignment
The Economics of Labor Markets Presentation
*BONUS PAPER INCLUDED-Same content in a 1,509 word essay! = A+**
Presentation #1- Slide Count: 14 slides with FULL Speakers Notes!
Presentation #2 – Slide Count: 15 slides with FULL Speaker Notes!!
Presentation #3 – Slide Count: 15 slides!
Select an organization your team is familiar with or an organization where a team member works.
Develop a 15- to 20-slide Microsoft PowerPoint presentation to be presented to the CEO’s executive committee that addresses how your chosen organization determines what quantity of labor to demand and what events could shift the demand and supply of that labor.
Explain the following in your presentation:
• How your organization’s production function is related to its marginal product of labor
• How your organization’s marginal product of labor is related to the value of its marginal product
• How your organization’s marginal product is related to its demand for labor
• Examples of events that could shift the demand or supply of labor and why they do so
• Reasons a worker’s wages might be above the level that balances supply and demand
• An analysis of the impact that government policies addressing income inequity and poverty could have on labor demand or supply Cite a minimum of 3 peer-reviewed sources not including your textbook.
Format consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
ECO365 Principles of Microeconomics
Week 5 Assignment
Principles of Microeconomics
Theory of Consumer Choice and Frontiers of Microeconomics
Option #1 Word Count: 1,254 words!
Option #2 Word Count: 1,005 words!
Option #3 Word Count: 1,429 words!
Your team been asked to assist your organization’s marketing department to better understand how consumers make economic decisions.
Write a 1,500-word analysis that identifies and describes your firm, and includes the following:
• The impact the theory of consumer choice has on:
• Demand curves
• Higher wages
• Higher interest rates
• The role asymmetric information has in many economic transactions
• The Condorcet Paradox and Arrow’s Impossibility Theorem in the political economy
• People not being rational in behavioral economics
Cite a minimum of 3 peer-reviewed sources not including your textbook.
Format consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
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