ECO 212 Week 1 DQ 1
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What is Economics? How do you see it applied in your personal and professional endeavors?
ECO 212 Week 1 DQ 2
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What is elasticity? What makes a product elastic? What makes a product inelastic?
ECO 212 Week 1 Individual Assignment How People Make Economic Decisions Paper
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Individual Assignment due Day 7: How People Make Economic Decisions Paper
Write a 350- to 700-word paper in which you address the following:
Briefly explain the principles of individual decision-making.
Provide an example of a decision in which you compared the marginal benefits and the marginal costs associated with that decision.
What were the marginal benefits and marginal costs associated with that decision?
What incentives could have led you to make a different decision?
Explain how the principles of economics relate to decision-making, interaction, and the workings of the economy as a whole.
Briefly describe the main attributes of the following economic systems: market economy, centrally planned economy, and mixed economy.
Explain how economic interactions are affected by the type of economic system present.
Format your paper consistent with APA guidelines.
ECO 212 Week 2 DQ 1
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What are the four Market Structures? Please list a distinguishing characteristic of each. Why should business managers understand this concept?
ECO 212 Week 2 DQ 2
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What is the Law of Diminishing Returns? What are the impacts to an organization when the Law takes effect?