Question 1 What do economists mean when they state that a good is scarce?   Question 2 Economic analysis assumes that   Question 3 Jacob and Mason go to a diner that sells burritos for $5 and tacos for $3. They agree to split the lunch bill evenly. Mason chooses a taco. The marginal cost […]

Question 1 Competitive markets generally give consumers and producers correct incentives when   Question 2 When production of a good generates external costs, the   Question 3 Which of the following correctly describes the external benefit resulting from an individual’s purchase of a winter flu shot?   Question 4 Markets may have difficulty providing the […]

Accrual vs. Cash For your follow up post…review the responses provided by your peers. Engage in conversation, or even civil debate, as you discuss their insights and viewpoints. You may ask questions for clarification (if you are confused by their initial post) or pose questions that advance the conversation. You might even find a topic […]

Scarcity and choice are the two essential ingredients of economic analysis.  A good is scarce when the human desire or need for it exceeds the amount freely available.  As a result, society must choose the most efficient manner of allocation of those scarce resources.   Based upon scarcity and choice, why is it not possible […]

Accrual Journal Entries US GAAP mandates for proper accrual journal entries to comply with the matching principle. Find an article that discusses how a business utilizes accrual journal entries. Then, present a summary of the article or provide a real-life example. Go to at least 2 other colleague’s posts and discuss how the accrual journal […]

Exchange Rate Determination Critical Thinking: Saudi Arabia’s Currency and the U.S. Dollar   While Saudi Arabia seeks to diversify its economy, the Saudi economy is dominated by the petroleum sector. In addition, the Saudi Arabian Riyal (SAR) is pegged to the U.S. Dollar.   In a critical essay, indicate the main considerations Saudi Arabia faces […]

Question 1 Which of the following would most likely increase the demand for peanut butter?   Question 2 If DeShawn only pays $25,000 to purchase a new car even though he would have been willing to pay as much as $35,000 for the car, this indicates that   Question 3 The number of people willing […]

Compare and contrast the JIT manufacturing philosophy with traditional manufacturing. Provide an example of what you think is the best example of JIT in the world! Part 2   Please view the Ted Talk: The Business Logic of Sustainability     –What are your thoughts on Ray Anderson’s presentation?   –How would adopting Interface’s approach […]

Democracy and Taxes After reading Special Topic 1 and Special Topic 2, write a 2-page paper answering and describing:  Can democracy survive if a majority of the citizenry pay little or nothing in taxes while benefiting directly from a higher level of government spending?  Why or why not?  Discuss.       ECN201 Microeconomics   […]

Costs Table Directions: Fill in the table.   Units of Output   Total Costs   Total Fixed Costs   Total Variable Costs   Average Total Costs   Average Fixed Costs   Average Variable Costs   Marginal Costs   0    $1,000    $1,000    $0                   1 […]