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ECO 365 GUIDE Education Counseling--eco365guide.com ECO 365 Final Exam Guide (New, 2018) FOR MORE CLASSES VISIT www.eco365guide.com 1 During the winter break, Sam decides to go for a skiing vacation in Aspen instead of taking piano lessons. The opportunity cost of the skiing vacation is the: cost of accommodation and food in Aspen. value of piano lessons. cost of buying a piano.
ECO 365 GUIDE Education Counseling--eco365guide.com ECO 365 Final Exam Guide (New, Dec 2015) FOR MORE CLASSES VISIT www.eco365guide.com 1). The DeBeers company is a profit-maximizing monopolist that exercises monopoly power in the distribution of diamonds. If the company earns positive economic profits this year, the price of diamonds will: • Exceed the marginal cost of diamonds but equal to the average
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Final Exam Guide 1 • FOR MORE CLASSES VISIT • www.eco365guide.com • 1. Because you can only obtain more of one good by giving up some of another good, the shape of a production possibility curve is _______________. • 2. Refer to the table shown. The average product when eight workers are employed is _____6____ • 3. A resource is said to have a comparative advantage if
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 1 Discussion Question 1 • FOR MORE CLASSES VISIT • www.eco365guide.com • What is economics? What role does economics play in your personal and organizational decisions? Provide an example of the role of economics in decision making.
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 1 Discussion Question 2 • FOR MORE CLASSES VISIT • www.eco365guide.com • Identify a recent purchase in which the price of the product was an important consideration in the decision-making process related to purchasing the product. What other factors affected your decision? How important was your income as a factor? How important was the price of other goods as a factor?
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 1 Individual Assignment Article Analysis • FOR MORE CLASSES VISIT • www.eco365guide.com • ECO 365 Week 1 Individual Assignment Article Analysis
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 1 Individual Assignment Economic Analysis • FOR MORE CLASSES VISIT • www.eco365guide.com • Prepare a 1,000-1,500 word paper in which you explain what the difference is between a movement along and shift of the demand curve. • Show the impact on the equilibrium price and quantity that results from; • (1) an increase in demand,
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 1 Individual Assignment Economic Definitions Worksheet • FOR MORE CLASSES VISIT • www.eco365guide.com • Write the definition for each of the following: • 1. Law of Demand • 2. Law of Supply • 3. Price Elasticity of Demand • 4. Macroeconomics
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 1 Individual Assignment Supply and Demand Curve Worksheet (2 Sets) • FOR MORE CLASSES VISIT • www.eco365guide.com • This Tutorial contains 2 sets of Worksheet • Complete the Supply and Demand Curve worksheet. • Submit through the Assignment tab. • Answer the following questions • Write the definition for each of the following:
ECO 365 GUIDE Education Counseling--eco365guide.com ECO 365 Week 1 Ten Principles of Economics and How Markets Work (2 Papers) FOR MORE CLASSES VISIT www.eco365guide.com This Tutorial contains 2 Papers As part of a marketing research committee for your organization, you have been assigned the task of preparing a 700-word research paper about current microeconomic thought and theory. Use Principles of Microeconomics
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 2 Discussion Question 1 • FOR MORE CLASSES VISIT • www.eco365guide.com • What is the law of diminishing marginal productivity? How does the law of diminishing marginal productivity affect the cost of productions? Provide an example from your workplace.
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 2 Discussion Question 2 • FOR MORE CLASSES VISIT • www.eco365guide.com • Why is the demand of labor a derived demand? What is the relationship between productivity and the wages earned by employees where you work or at an organization with which you are familiar? What are some factors that determine the level of your income? Explain your answer.
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 week 2 Individual Assignment Supply and Demand Simulation (Microeconomics and the Laws of Supply and Demand ) (3 Papers) • FOR MORE CLASSES VISIT • www.eco365guide.com • Complete the Supply and Demand Simulation located on the student website. • Write 700 - 1,050-word paper of no more than summarizing the content. Address the following:
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 2 Learning Team Reflection Production and Cost Analysis • FOR MORE CLASSES VISIT • www.eco365guide.com • Discuss this week’s objectives with your team. Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field.
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 2 Team Assignment Elasticity Paper (Substitute or Compliment) • FOR MORE CLASSES VISIT • www.eco365guide.com • Reflect on why some products become substitutes and why some are compliments (e.g. hot dogs and hot dog buns). • Prepare a 350- to 1,050- word paper detailing the findings of your discussion.
ECO 365 GUIDE Education Counseling--eco365guide.com ECO 365 Week 2 Team Assignment Markets and the Economics of the Public Sector (2 Papers) FOR MORE CLASSES VISIT www.eco365guide.com This Tutorial contains 2 Papers ECO 365 Week 2 Markets and the Economics of the Public Sector You have been assigned to a team that has the responsibility of preparing a paper consisting of 1,750 words for the governor’s next economic conference. Your paper should address
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 2 Team Assignment Product Substitution Versus Product Compliment • FOR MORE CLASSES VISIT • www.eco365guide.com • ECO 365 Week 2 Team Assignment Substitute vs Compliment
ECO 365 GUIDE Education Counseling--eco365guide.com ECO 365 Week 3 Current Market Conditions Competitive Analysis FOR MORE CLASSES VISIT www.eco365guide.com ECO 365 Week 3 Current Market Conditions Competitive Analysis You have been given the responsibility of working with your organization’s CEO to do a competitive market analysis of the potential success of one of their existing products. Select your organization
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 3 Discussion Question 1 • FOR MORE CLASSES VISIT • www.eco365guide.com • What conditions exist when economic profits are maximized? What is the difference between economic and accounting profits? What are economic profit-maximizing strategies that may be made by a perfectly competitive firm, a monopolist firm, and a monopolistic competitive firm? Provide examples and explain the strategies’ effectiveness in their respective market structures.
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 3 Discussion Question 2 • FOR MORE CLASSES VISIT • www.eco365guide.com • What are some real-life examples of monopolistically competitive, oligopoly, and monopoly markets? How do market prices differ between perfectly and imperfectly competitive markets? Will a monopoly always produce at a profit-maximizing output level? Explain your answer.
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 3 Learning Team Reflection Summary Market Structure • FOR MORE CLASSES VISIT • www.eco365guide.com • Discuss this week’s objectives with your team. Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field.
ECO 365 GUIDE Education Counseling--eco365guide.com ECO 365 week 3 Team Assignment Current Market Conditions Competitive Analysis (3 Papers) FOR MORE CLASSES VISIT www.eco365guide.com This tutorial contains 3 sets of paper Imagine you are part of a strategic planning group at a large corporation that is considering developing a new proposed product.
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 4 Differentiating Between Market Structures Paper (New Syllabus),Starbucks • FOR MORE CLASSES VISIT • www.eco365guide.com • You will apply important microeconomics concepts toward the competitive strategies of an organization that operates in an industry of your choice. • You will evaluate the differences between market structures and identify a group of competitive strategies consistent with the market structure that
ECO 365 GUIDE Education Counseling--eco365guide.com ECO 365 Week 4 Differentiating Between Market Structures Presentation (Mayo Clinic) FOR MORE CLASSES VISIT www.eco365guide.com You will apply important microeconomics concepts toward the competitive strategies of an organization that operates in an industry of your choice. You will evaluate the differences between market structures and identify a group of competitive strategies consistent with the market
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 4 Differentiating Between Market Structures Presentation (New Syllabus),Starbucks • FOR MORE CLASSES VISIT • www.eco365guide.com • You will apply important microeconomics concepts toward the competitive strategies of an organization that operates in an industry of your choice. • You will evaluate the differences between market structures and identify a group of competitive strategies consistent with the market structure that best aligns
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 4 Differentiating Between Market Structures Presentation (New), Apple Company • FOR MORE CLASSES VISIT • www.eco365guide.com • You will apply important microeconomics concepts toward the competitive strategies of an organization that operates in an industry of your choice. • You will evaluate the differences between market structures and identify a group of competitive strategies consistent with the market structure that best aligns
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 4 Discussion Question 1 • FOR MORE CLASSES VISIT • www.eco365guide.com • What is an externality? Provide at least three examples. How does one of the examples you provided affect the market outcome? What is the role of government in addressing the implications of an externality you provided as an example? Is it possible that a government’s solution to a market failure would worsen the failure? Explain your answer.
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 4 Discussion Question 2 • FOR MORE CLASSES VISIT • www.eco365guide.com • What effect do government intervention, taxation, and regulations have on economic behavior? Explain. • What are real-world examples of government intervention, taxation, and regulations? What are the goals of each?
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 4 Individual Assignment Differentiating Between Market Structures Table • FOR MORE CLASSES VISIT • www.eco365guide.com • For this assignment, you will choose from the following options: • Option 1: Differentiating Between Market Structures in Kudler • Option 2: Differentiating Between Market Structures in an Organization of Your Choice
ECO 365 GUIDE Education Counseling--eco365guide.com • ECO 365 Week 4 Learning Team Reflection Public Policy in Economics • FOR MORE CLASSES VISIT • www.eco365guide.com • Discuss this week’s objectives with your team. Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field. • Prepare a 350- to 1,050- word paper detailing the findings of your discussion.
