1) Why does the fact that something is scarce require that we make choices?   To let us all, make the choices by deciding which options are most important to us. As we know the scarce is that something is limited, and we need to make the right choice.   2) Does the fact that […]

1. Predict the direction of change for either supply or demand in the following situations. Explain using one sentence for each situation.   a. Several new companies enter the cell phone industry.   b. Consumers suddenly decide SUVs are unfashionable.   c. The U.S surgeon general issues a report stating that tomatoes prevent colds.   […]

*The Canadian government intervenes in agriculture markets in multiple ways under a systemcalled “supply management” (more information and details can be found at: https://www.cbc.ca/news/politics/canada-supply-management-explainer-1.4708341).   *One of the ways is to impose a price floor for milk. *Discuss arguments for and against Canada’s price floor for milk.   *Explain why the actual loss caused by […]

chose an economic philosopher about whom you wish to know more about and what you are going to present to the class. At this stage, you should have an annotated bibliography (if you don’t know what that is, look it up!) It is basically a summary of sources that you will be using for your […]

1. Ivan has inherited his grandmother’s 1963 Chevrolet Corvette, which he values at $45,000. He decides that he might be willing to sell it so he posts it on Craigslist for $55,000. Samantha is interested and willing to pay up to $72,000. Would Ivan and Samantha want to voluntarily engage in trade? How much economic […]

Discuss the nature of subprime mortgages and how they became quite popular among the institutional investors in the early 2000. Explain your reasoning how the meltdown of the subprime markets caused the 2007-09 financial crisis. You can begin your research by reviewing the following articles.   https://en.wikipedia.org/wiki/Subprime_mortgage_crisis   The Six Root Causes of the Financial […]

1. To what uses was the surplus of society put in feudal society? In the United States? In North Korea? What can we say about how each of these societies utilizes their surplus and the structure of these societies?   2. Aristotle and St. Thomas Aquinas were suspicious of economic activity due to its “unbounded” […]

Compare the contemporary UAE economy to the nature of the economy in 1980s or 1970s (mark: 2 points)    a) Using some major indicators explain the differences between the country’s economy of now and then (1970s and 1980s).   b) Mention some key factors that you think have contributed to the UAE’s economic growth of […]

U.S. Representative Letter: Each writing a three-paragraph (minimum) letter to your U.S. Representative outlining a problem you see with who gets what, where, when, why, and how, and your ideas for solutions to that problem. Must write about a salient federal issue. Look for a bill or issue currently being debated in one or both […]

International trade has been said to promote economic growth, increase choices, and reduce costs for consumers. Pick a service industry and develop a narrated PowerPoint presentation. Include the following information:   What types of trade have you observed affecting the industry?   Does the industry benefit, or is it negatively affected by international trade?   […]