MICROECON

Dear students, welcome to our class. I just have a couple of important announcements.

First, when you submit your assessment and case study, keep in mind that you get your reference format correct. You have to include your references both in the text and at the end of your answer. This is very important because reference accounts for 20% of your grade for each question.

Second, keep in mind that you SHOULD NOT plagiarize. I am not just talking about stealing other people’s idea or answer, but also talking about copying and pasting other sources significantly ( more than 6 words). Keep in mind that the act of copying and pasting other sources ( more than 6 words) is considered ‘plagiarism’ although you cite them. I can easily detect those, for which, there will be no credit.

 The best way you can avoid this problem is to paraphrase everything.

Thank you very much and I hope you enjoy this course.

apa format

 

McEachern, W. A. (2012).
ECON Micro 3 (3rd ed.). Mason, OH: South-Western.

 

Your response should be at least 75 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.

What are the weaknesses and strengths of the various forms of business? Why do corporations tend to be so much larger than sole proprietorships or partnerships? Why is it so difficult to determine the objectives of the government?

In the mid-1970s no one had a personal computer at home. Today many people do. Using demand and supply curves show the market for personal computers in the mid-1970s and today. Explain the difference between then and now.

Explain why there is an inverse relationship between quantity demanded and price. Explain why there is usually a direct relationship between quantity supplied and price.

Explain how scarcity and choice are related. Economic theory says that a rise in the price of a good will cause people to buy less of it. If the price of meat increases and John Doe buys more meat, has the theory been refuted? Explain

How are opportunity cost and scarcity related?