Assignment: The Key Concepts in Economics
Due Week 8 and worth 175 points
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 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…………………
The economy of any one place is a big determinant of the way the general living conditions of the populations of the place are. The economy plays a huge role in determining the chances that will be available to people for them to work or even grow their wealth. It is also integrated and an effect on one sector often affects the whole economy and this makes it hard for the people to be able to grow. This makes it important to make sure that the general state of the economy is maintained. This……
APA
1083 words