Reference no: EM133131121

How does minimum wage affect supply and demand?

How are supply and demand seen through gift giving? Is gift giving economically efficient? Explain your response in a minimum of 6-8 sentences.

Why are people motivated to buy during sales events?

How can you see the forces of supply and demand present during the Christmas Shopping Season? Explain your response in a minimum of 6-8 sentences.

Is there a food item you could eat until you puked? How much would you have to eat before you puked?

Elasticity surrounds us in our daily lives and can affect everything from the choices we make to our health. Prescription drugs including Insulin and Epi Pens have had years of controversy surrounding their price because without them people would die. Are there instances where the government should intervene to set prices on certain items to help eliminate the issue of elasticity in our lives? Or if for example the government was to tell Pharmaceutical Companies how much they could charge for their products would they be intervening in the marketplace too much? Explain your response in a minimum of 6-8 sentences.

Property taxes are the primary funding source for public education. Should I have to pay the same rate of property tax as my neighbor who has three kids in school if I have no kids in school?

Some argue that it is the job of consumers to correct market failures. Do you agree or disagree with this statement? If you disagree with this statement what types of market failures is it appropriate for the government to correct? Explain your reasoning in a minimum of 6-8 sentences.

Are there certain items that the price should be set by the government as opposed to the producer?

Do you support the concept of rent control? Do you support a national price per square footage on rental properties? Consider how this would affect places like New York City and Los Angeles where rent is notoriously high. Explain your response in a minimum of 6-8 sentences