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.
……………………………………Answer Preview…………………………………….According to this article, the oil industry has experienced its deepest downturn recently since the 1990s despite its history of busts and booms. In 2016, the earnings of the companies that had made record profits in the past few years were down. This situation has led to these companies decommissioning around two-thirds of their rigs and at the same time cutting investments in both production and exploration. Some oil companies have ended up bankrupt………………………………………
