Why the demand curve slopes downward

Reference no: EM131467241 , Length: word count:875

Students are introduced to the ten fundamental principles on which the study of economics is based. Throughout this course, the students will use these ten principles to better develop their understanding of economics and how society manages its scarce resources. Students will see how markets work using supply and demand for a good to determine both the quantity produced and the price at which the good sells. The concepts of equilibrium and elasticity are used to explain the sensitivity of quantity supplied and quantity demanded to changes in economic variables. Students will see how government policies impact prices and quantities in markets.

Assignment Steps -

Prepare an 875-word research paper as part of a marketing research committee for your organization about current microeconomic thought and theory.

Identify the fundamental lessons the Ten Principles of Economics teaches regarding:

How people make decisions
How people interact
How the economy works as a whole

Explain the following to help the committee members understand how markets work:

How society manages its scarce resources and benefits from economic interdependence.
Why the demand curve slopes downward and the supply curve slopes upward.
Where the point of equilibrium is and what does it determine?
The impact of price controls, taxes, and elasticity on changes in supply, demand and equilibrium prices.

Format consistent with APA guidelines.

Reference no: EM131467241

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Reviews

len1467241

4/19/2017 3:12:16 AM

References should be reputable. The text for this course is reputable. Internet sites like Investopedia, Investor words, Yahoo Answers, About.com, eHow.com, and Wikipedia are NOT reputable. Do not cite them. Wikipedia may be used to find reputable sources, but you MUST then go to those primary sources, assuming they are reputable, and cite those sources. Assignment content that is based on information from non-reputable sources, or for which there is no citation of the source, will not receive credit. This applies to individual and team assignments.

len1467241

4/19/2017 3:12:10 AM

Papers should have a minimal amount of direct quotes. At most, papers should contain no more than 5 percent direct quotes. Any percentage over that will result in automatic point deductions. A paper with 15 percent direct quotes will be docked 10 percent of the total points possible (e.g., a 12 point assignment with 15 percent direct quotes would be docked 1.2 points). The rationale for this policy is that if 35 percent of a submitted paper is in other people's words, it should be worth no more than a C. You will lose far fewer points paraphrasing, no matter how poor your grammar, spelling, and writing ability. Plus, you are more likely to improve your writing skills.

len1467241

4/19/2017 3:12:03 AM

Please assign someone to this with a background in economics, strong writing skills and familiarity with APA writing standards. Papers, PowerPoint presentations (including speaker notes) and discussion posts must be entirely free from plagiarism. Any student work containing plagiarism will either receive no credit, or will receive a stiff penalty. If assignment content is based on information from a source – textbook or otherwise – that source must be cited or the content will not receive credit. Direct quotes of 40 words or less must be placed within double quotations. Longer quotes must be block indented. All direct quotes must also be properly cited by author, year, and page number. Paraphrased or material that is otherwise from an outside source must be cited.

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