Assignment: The Key Concepts in Economics
Write a three to four (3-4) page paper in which you:
- Identify at least four (4) key points of a relevant economic article from either the Strayer Library or a newspaper. The article must deal with any course concepts covered in Weeks 1-8.
- Apply one (1) of the following economic concepts (supply, demand, market structures, elasticity, costs of production, GDP, Unemployment, inflation, aggregate demand, and aggregate supply) to the key points that you highlighted in Question 1.
- Explain how the concept that you identified in Question 2 could affect the U.S. economy.
- In your concluding paragraph, state whether you agree or disagree with the economic article identified in Question 1. Provide a rationale for the response.
- Use at least three (3) quality resources in this assignment with one (1) being your article.
Your assignment must follow these formatting requirements:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
- Analyze the dynamics of supply and demand to anticipate market equilibrium.
- Analyze the elasticity of demand and supply and its importance, and the effect of taxes or other public policies.
- Describe the impact of various forms of competition on business operations with emphasis on perfect competition.
- Use technology and information resources to research issues in principles of economics.
Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric found here.
…………………Answer Preview…………..
Employment is one of the critical factors when it comes to development of the economy. Nevertheless, unemployment scenarios being experience in almost all global economies shows aspects of a very slow economy. The key concepts described in the articles chosen include:
The current number of unemployed people who are receiving unemployment aid has increased from 61,000 to 2.27 million. Increase of unemployment rate weekly claims from 277,000 up to 279000 in United States. For the last 14 weeks the rate of unemployment has been held below 300,000 thresholds. The unemployment rate has been steady for the past five months with the average claims becoming total of 277,000 (CNBC, 2015).
It is a fact that the main concept described in this article concerns unemployment rate in United States. Through the article we have seen that there is a stable number of unemployment claims. This means that there are constant….
APA
1041 words
