XECO 212 UOP Course Tutorial/UOPhelp

XECO 212 UOP Course Tutorial/UOPhelp

XECO 212 week 1 CheckPoint A New House Readiness

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CheckPoint: A New House – Readiness

Deciding to buy a house is a lifelong goal for many people. Imagine that you are renting a studio apartment and have just discovered you are having a baby. Your present apartment is small and far from schools and local services. You have decided to move. There are many factors that come into play when making such a large and weighty purchase. Examine the decision-making process from the perspective of an economist. In your Final Project, you use these principles and other factors to make a final decision whether to buy a house.

Consider the 10 Principles of Economics as outlined in Ch. 1 of the text.

Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.

Submit a 250- to 300-word response addressing the following points:

Which of the 10 principles do you think plays a major role in your decision?
Provide an example for each about decision-making, interaction, and the workings of the economy.
Explain how that influences the marginal benefits and marginal costs associated with the decision to purchase a house.


XECO 212 week 1 Discussion Question 1 & 2

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Discussion Questions

DQ 1
Locate recent articles in the New York Times or Wall Street Journal in which economists are quoted using positive and normative statements. Provide one quote and its context for both a positive and normative statement. Explain your choice. Evaluate the statement choices of your fellow students.

DQ 2
Select a good that you are familiar with. What are the factors that shift the demand curve for...

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