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1. Using demand and supply, explain the tenets of capitalism and how it answers basic economic questions.
2. Evaluate the role and scope of government in market economies versus command economies.
3. Discuss why nations trade, as well as valid and invalid arguments for restraints to free trade.
4. Compare and contrast the differing schools of economic thought during the Great Depression and relate that thinking to (1) fiscal and monetary policy and (2) the Great Recession of 2007-2009.
The market is created by demand and supply of products in the economy. Describe the law of demand. Explain a situation in your life where you noticed this law at work.
Frank Gunter owns an apple orchard. He employs 40 apple pickers and pays them $7 per hour to pick apples, which he sells for $3.50 per box. If Frank is maximizing profits
Effects of Collusion or Merger - In the three bidder auction, Presume that bidders two and three collude or merge. What is the expected effect of the merger?
Mr. Sea Food is considering a price reduction on the lobster soup, which currently sells for the price of $5.00. Mr. Smith, the proprietor, knows the price elasticity for this soup is roughly equal to 2.3 over the range being considered for the pr..
choose a developing country and discuss its economic growth in the last 2-3 years. include the following
Contrast and compare the types of risk manufacturing firms face with the risks to which service firms are exposed. Identify one way by which either a manufacturing firm or a service firm might minimize risk.
did monetary policy contribute to the economic crisis of 2008?nbsp why or why not?nbsp how did monetary policy makers
Penny is making pipe cleaner flowers to sell on Etsy for $1 apiece. Penny and her friends become more efficient as they gain practice in flower production. The first 100 flowers cost $1.50 apiece. The next 100 cost $1.25 apiece. The next 100 cost $1...
What is the level of saving and consumption in the U.S. today? As a consumer should you be saving or consuming? Is this something the government should try and influence? If you were given a $100 today, tax free, would you spend it, or save it.
1. fresh from a successful marketing and financing campaign you suggest that your client think about charging different
In economics, when you plot cost and revenue on Price-Quantity axis, the profit maximization condition is when marginal cost is equal to marginal revenue. This is the crucial notion to understand.
jack welch is heralded as a great leader of general electric ge. his strategy to acquire companies in different lines
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