Download Category: Economics

Students will employ the supply and demand model to develop consumer surplus and producer surplus In Week 2, students will employ the supply and demand model to develop consumer surplus and producer surplus as a measure of welfare and market efficiency. Students learn about welfare economics — the study of how the allocation of resources … Read more

Why might demand curves be upward sloping Why might demand curves be upward sloping? (Professor) (100 words) Hello, Everyone – The Week 5 assignment asks you “why might demand curves be upward sloping?”  According to Mankiw (2015):   Normally, when the price of a good rises, people buy less of it. This usual behavior, called the law … Read more

On the balance sheet, we have what is known as contra accounts. What is a contra account Class, I want to throw another term out there as we begin to tie all of these concepts together. On the balance sheet, we have what is known as contra accounts. What is a contra account? What would … Read more

Consider the term the Ten Principles of Economics and how it’s applied to the consumer buying trends. #4 The Theory of Consumer Choice (100 words) https://phoenix.vitalsource.com/books/9781305892811/epubcfi/6/78[;vnd.vst.idref=M39]!/4/4[ch21]@0:5.43 Consider the following as you read: The theory of consumer choice. Consider the term the Ten Principles of Economics and how it’s applied to the consumer buying trends. Consider the … Read more

What is the relationship between price and quantity for upward sloping demand curve #6 Veblen Goods ( Professor) (100 words) You are on the right track, Michelle, with your references to luxury goods.  For example, a membership in an exclusive golf club is a status symbol, so it could be considered a Veblen good with an … Read more