GB540 ALL ASSIGNMENTS KAPLAN
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KAPLAN GB540 ALL ASSIGNMENTS
GB 540 All Assignment Kaplan University
Unit 1 assignment
GB540 Unit 1 Assignment Rubric
Content and Analysis Points Possible Points Earned
Problem # 1 • Graph or table to illustrate a production possibilities curve • Meaningful description of a variety of different points on the curve. • Explanation of what would make the curve expand or contract. • Explanation of why efficiency is lost at the extremes, (i.e., substantially more of one good and very little of another is produced). 12
Problem # 2 • Comprehensive discussion of the availability of natural diamonds as a component of supply in a competitive market and how it influences price. • Comprehensive discussion the demand for natural diamonds in a competitive market and how it influences the price. • Description of what would happen if an outside agency determined the prices eBay could charge. 12
Problem # 3 • Introduction and Conclusion 4
• Social problem identified where free markets are not allowed to function. 4
• Description of how free market features could be introduced to help alleviate the problem. 12
• Two pages in length 4
Writing Style, Grammar, APA Format 12
Total 60
Unit 2 Assignment
According to the law of demand, if price increases, quantity demanded of a good or service will decrease or vice versa. Price elasticity of demand tells us how much quantity demanded will decrease when price increases or how much quantity demanded will increase if price decreases.
On the other hand, according to the law of supply, if the price increases, quantity supplied of a good or service will increase. Similarly, if price decreases, quantity supplied will decrease. The degree of sensitivity (responsiveness) of production/supply to a change in price is measured by the concept of price...