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Discuss how economics impacts your own life. After going through chapter 1 and the author’s 10 Principles of Economics, give an example or two of how you might apply these principles to your own life and your own decision making. Think about: What are some trade offs...
We recently discussed marginal cost as it relates to decision making. We also discussed the four market structures as they relate to setting prices and output decisions. Look at the lectures on chapters 13 through 17. What are some of the takeaways that you have after...
This past week we discussed the impact of price controls on the economy. There seems to be a big divide when it comes to the role of the market and the role of the government in today’s society. Use this week’s discussion as an opportunity to...
This past week we discussed the impact of price controls on the economy. There seems to be a big divide when it comes to the role of the market and the role of the government in today’s society. Use this week’s discussion as an opportunity to...
This week, we have learned that companies that are able to create value for stakeholders are able to improve profitability. For example, we learned that Patagonia is a market leader in outdoor gear due in part to its attention to stakeholders and a focus on social...
Income Approach to Calculating GDP (weight 45% of the assignment grade) Complete the following exercise: Go to http://www.bea.gov/ Visit the Bureau of Economic Analysis website at www.bea.gov. From the drop down menu under “Data”, click on “by Economics Account”....
