Identify and explain the trade-offs that you faced

Assignment Help Microeconomics
Reference no: EM132612421

Question: One of the lessons of economics is that "there is no such thing as a free lunch." This means that businesses, consumers, and whole societies face trade offs whenever they make a decision. Please draw on your own experiences to discuss the following 3 items. Make sure you use economic concepts in your main contribution.

1. Explain a decision that you have made at work, or one concerning your career, or any major life decision that you have made.

2. Identify and explain the trade-offs that you faced.

3. List the alternatives you had, identify the highest valued alternative, and explain your final decision to the class.

Reference should be APA format

Reference no: EM132612421

Questions Cloud

Describe the four key elements of good performance appraisal : Many factors can lead to a company failing. Discuss the external conditions that can occur that would hinder the success of a company.
How major economic events influenced supply and demand : Write a 350- to 700-word analysis assessing how 1 of the following major economic events influenced supply, demand, and economic equilibrium in the US economic.
How many chickens must kenny rogers roasters sell : Desired operating income: $300,000. How many chickens must Kenny Rogers Roasters sell in order to meet its desired operating income
Identifies and explains the strong points of the managers : Analyzes the basic legal, social, and economic environment in which the organizations operate. Identifies and explains the strong points of the managers
Identify and explain the trade-offs that you faced : One of the lessons of economics is that "there is no such thing as a free lunch." This means that businesses, consumers, and whole societies face trade offs.
Countertrade and small and medium size enterprise : Countertrade, customs agents, direct exporting, export intermediaries, small and medium size enterprise (SME)
Analyses the conceptual design phase of a systems : Analyses the conceptual design phase of a systems engineering project. The case study can be from any application area, such as public transportation
How a single firm like intel comes to dominate some markets : After reading the section titled "Dominant Microprocessor Company Intel Adapts to Next Trend provided from the Image and the article titled "2018-2019 Intel.
Health care system : What do you believe is the greatest achievement that the health care industry has made from both the patient and provider perspectives?

Reviews

Write a Review

Microeconomics Questions & Answers

  Find the locus of zero-profit contracts for insurance farm

Finally, find the locus of zero-profit contracts (y1, Yi) for the insurance furn if it knows that it is dealing with a high-risk client, with a low-risk client, a

  Why the idea of limited resources is such a major concern

How the economy works and why the idea of limited resources is such a major concern in today's economy

  Describe free trade and its impact on the global economy

Describe free trade and its impact on the global economy. Describe demographic factors and how they affect the economy.

  Explain the law of demand in own words

Explain the Law of Demand in your own words - Give an example of a good that is a normal good for you. Give an example of a good that is an inferior good for you.

  Determine the present worth at an interest rate

The Burger Barn is evaluating the Quick Fry French fryer, which has an initial cost of $6000. The new equipment will allow Burger Barn to save on costs.

  Determine whether demand or supply changes or both

o Determine whether the change is an increase or a decrease. o Show the change in demand and/or supply on the graph of the initial equilibrium. (You will have one graph for each event.) Identify the result on the equilibrium price and quantity of den..

  1 when the government increases taxes to provide

1. when the government increases taxes to provide traditional public goods such national security there tends to bea.

  Write the profit function for the monopolist firm

A monopolist firm produces a special soft drink. There are 20 H-type and 40 L-type consumers with the following demand functions:

  Hamburgers is measured along the horizontal axis

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

  Now suppose p1 and p2 are xed at 3 and 5 find functional

a consumer has utility function given by ux1 x2 radicx1 x 2 .i suppose the price of good 2 and income are ?xed at 5

  What happen to output and the interest rate in the present

Suppose instead that the identity of the nominee is a sur- prise and that financial market participants had expected the nominee to be someone who favored an even more contractionary policy than the actual nominee. Under these circumstances, what ..

  Kants moral theory vs utilitarianism

Which of these two theories do you believe is applicable to your day-to-day life? Why do you believe this?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd