The Ten Principles of Economics
Question # 00492741
Posted By:
Updated on: 03/01/2017 01:42 AM Due on: 03/01/2017
Prepare an 875-word research paper as part of a marketing research committee for your organization about current microeconomic thought and theory.
Identifythe 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.
Formatconsistent with APA guidelines.
-
Rating:
/5
Solution: The Ten Principles of Economics