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?
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