What ways does economics class relates to the real world

Assignment Help Microeconomics
Reference no: EM13173568

In what ways does economics class relates to the real world? How does knowledge gained from economics teaching been valuable in helping somone understand or evaluate events or policies? What current events in the news can directly link to concepts or theories regarding economics?

Reference no: EM13173568

Questions Cloud

Hydrologic cycle and various methods of water use : Examine the hydrologic cycle and various methods of water use and management. What changes might occur in the hydrologic cycle if our climate were to warm up or cool down significantly?
Byproduct of adding chlorine to the water is thms : The byproduct of adding chlorine to the water is THMs (trihalomethanes). Some studies have shown that THMs might cause miscarriage and other health effects.
Types of decision support tools : Could you share with us the types of decision support tools you have depended on to facilitate communication and information exchange between the stakeholders on an infrastructure project
Toxic in high concentrations : Many substances are toxic in high concentrations but essential for life in small concentrations. Iron, copper, chromium, and selenium, and many more, are all in this category.
What ways does economics class relates to the real world : In what ways does economics class relates to the real world? How does knowledge gained from economics teaching been valuable in helping somone understand or evaluate events or policies?
What is distribution channel : What is a distribution channel? What is the relationship between channels of distribution and logistics? How does geographical location affect your selection of distribution channels? (Think promotional strategy)
Define profits maximized-total profits : The Zinger Company manufactures and sells a line of sewing machines. Demand per period (Q) for a particular model is given by the following relationship: Q = 400 - .5P
Remote access option : After you have set up a network for a small business, you may need to access the network remotely to provide support for the users. Which remote access option should not be used unless a secure connection can be established first?
Determine market opportunity : A high-tech firm has just developed a new technology to correct bad vision without surgery or contact lenses. the company needs to estimate the demand for such a service. describe the MkIS that might be used by the firm to be able to determine market..

Reviews

Write a Review

Microeconomics Questions & Answers

  Correctly labelled demand and supply diagram

What is the negative consumption externality described in this quote? Show this externality on a correctly labelled demand and supply diagram for the petrol market.

  How many groschens should the council charge

The council decides to allow a boat to fish in the lake only if its owner buys a fishing licence. To maximize total profit (of citizens and council), how many groschens should the council charge for a licence?

  Price discrimination to maximize profits

How does knowledge of value elasticity between different groups of consumers or for several products enable managers to price discriminate, change different prices for these groups?

  Supply-demand-equilibrium quantity and price

Find out the quantity demanded, the quantity supplied, and the magnitude of the shortage if a price ceiling of $30 is imposed in this market. Also determine the full economic price paid by consumers.

  Demand curves and airline pricing

Suppose an airline flying on the Charolette-Chicago route has estimated the demand curves for three different types of customers: business (no advance purchase), leisure (7 day advance purchase), and discount (14 day advance purchase) travellers. ..

  Determine elasticity of the demand

Suppose you are starting your own Internet business. You make a decision to form a company that will sell cookbooks online. You estimate that the yearly cost of this business will be given as follows:

  Supply and demand diagram to explain changes in price

Explain how each of the events described above, affected the world market for oil. Specifically, use a supply and demand diagram to explain changes in price and output.

  What are the average variable cost

What is the variable cost and when output is 10,000, what are the average variable cost and the average fixed cost?

  How market affected in terms of prices and quantities

With use of a graph, explain how these two programs affect cigarette consumption and explain the combined effect of these two programs on the price of cigarettes.

  Fundamentals of demand and supply

A. In 1996, many cows in Great Britain came down with "mad cow disease". As a result, the nations of European union banned the import of British beef.

  How many pounds of potatoes will she purchase

Subsequent pounds are worth $0.30, how many pounds of potatoes will she purchase? What if she only had $3.00 to spend?

  Determine government policy to rescue airlines industry

Assume that you are an advisor to the United States section of Justice, the agency with responsibilities that include, among others, the power to approve or disapprove proposed business mergers in the U.S.

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