Reference no: EM132753551
Economic Principles - Microeconomics
Overview
In this assignment, you will develop a paper in which you select an industry that interests you, describe that industry, and explain how government might impact the industry.
Instructions
Review your chapter readings and use the resources provided to develop a 2-3-page paper on Economic Principles - Microeconomics in which you:
Visit the Census Bureau (NAICS) website and select an industry that has a description. Some of the smaller industries are named, but not described.
The industry could be broad, such as industry 11 Agriculture, Forestry, Fishing, and Hunting, or it could be narrow, such as industry 112112 Cattle Feedlots.
The more digits in the industry label, the narrower the industry.
In a few short paragraphs, describe your selected industry using the industry description at the NAICS website.
Be sure to write in your own words. Don't just copy and paste the NAICS text.
Identify some of the major companies in this industry
Identify the goods, and/or services this industry produces. Use the information from the NAICS website. You can supplement this information with what you find in a separate Google search.
Describe a microeconomic variable for your industry. Microeconomic variables include prices, sales, production, advertising, investment, etc.
Include a graph, chart, or table showing this microeconomic variable over time.
You do not need to create this graph, chart, or table. Find one that has already been created and paste it into your paper. For example, if your industry is U.S. automobile manufacturing, Google, "U.S. automobile manufacturing over time." Select the "images" option. Choose one of the graphs, charts, or tables. Then copy and paste it into your paper.
Include a reference to the source of the graph, chart, or table. Microeconomic relationships and market outcomes are covered in Weeks 2-4.
Describe one way the government might impact this industry. Examples might include price controls, regulations, taxes, or any other way you can think of.
Government intervention through price controls, regulations, taxes, and antitrust enforcement were covered in Weeks 2 and 4.
|
How much of the implementation work can you handle
: How much of the implementation work can you handle? What additional resources (people, information, time, money, etc.) will expedite the process so you don't
|
|
What the total contract price of the project is
: What the total contract price of the project is? The data were taken from the files of LKLD Company, Architect's total estimated cost of completion
|
|
How many years will you have to wait to retire
: You plan to retire when you have $1,000,000 in savings. You can make a deposit of $350 per quarter into a retirement saving account that pays 12 percent annual.
|
|
How much reduction in cost relative to results from policy
: A soap manufacturer has dedicated a plant for one major retail chain. Sales at the retail chain average about 10,000 jugs of soap a month and production.
|
|
Describe one way the government might impact this industry
: Identify some of the major companies in this industry - Describe a microeconomic variable for your industry. Microeconomic variables include prices, sales
|
|
What the estimated gross profit from the contract is
: What the estimated gross profit from the contract is? The data were taken from the files of LKLD Company, Architect's total estimated cost of completion.
|
|
Calculate the revenue from each type of service
: Calculate the revenue from each type of service that the company must achieve to break even. The company has a desired net income of $1,800,000.
|
|
What percentage of completion for the year for lkld company
: Find what the percentage of completion for the year 2020 was? The following data were taken from the files of LKLD Company.
|
|
Compute the average and minimum npv and irr
: A firm is in the process of assessing the profitability of venturing into a business selling new tech product. Because of the fast changing technology.
|