ECO 365 Week 1 Discussion Question 1
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What is economics? What role does economics play in your personal and organizational decisions? Provide an example of the role of economics in decision making.
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ECO 365 Week 1 Discussion Question 2
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Identify a recent purchase in which the price of the product was an important consideration in the decision-making process related to purchasing the product. What other factors affected your decision? How important was your income as a factor? How important was the price of other goods as a factor?
ECO 365 Week 2 Discussion Question 1
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What is the law of diminishing marginal productivity? How does the law of diminishing marginal productivity affect the cost of productions? Provide an example from your workplace.
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ECO 365 Week 2 Discussion Question 2
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Why is the demand of labor a derived demand? What is the relationship between productivity and the wages earned by employees where you work or at an organization with which you are familiar? What are some factors that determine the level of your income? Explain your answer.
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ECO 365 Week 2 Individual Assignment Supply and Demand Simulation
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Complete the Supply and Demand Simulation located on the student website.
Write 700 - 1,050-word paper of no more than summarizing the content. Address the following:
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