...Jahangirnagar University Institute of Business Administration Essay On The Standard Supply & Demand Model and The Aggregate Supply & Demand Model Course: BUS 209-Macroeconomics Submitted to: Dr. Shuddhasattwa Rafiq Director and Associate Professor Institute of Business Administration Jahangirnagar University Submitted by: Md. Nahid Alam Class ID: 2368 (21st batch) Institute of Business Administration Jahangirnagar University Date of Submission: 11-06-2013 Essay On The Standard Supply & Demand Model and The Aggregate Supply & Demand Model June 11, 2013 Dr. Shuddhasattwa Rafiq Director and Associate Professor Institute of Business Administration Jahangirnagar University Savar, Dhaka-1342. Subject: Essay Submission. Sir It’s my immense pleasure to submit the essay on “The Standard Supply & Demand Model and The Aggregate Supply & Demand Model” that you have assigned me at the beginning of this semester. Submitting this essay is the partial fulfillment of this particular course. I believe that this essay will help to understand supply and demand, how supply and demand curves derive in microeconomics & macroeconomics and what determines the slopes of supply and demand curves. Thank you for giving the opportunity to prepare this report. It was really a wonderful experience. I hope you find this essay satisfactory. Sincerely, ------------------------- TABLE OF CONTENTS Context Name | Page...
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...GIS 3117 Modern China Spring, 2014 Dr. Amy Y. Situ-Liu (Please use Blackboard internal email for your communication with the instructor. In case of an emergency that prevents you from accessing to your computer, please leave your voice mail at 652-4314, and then email me afterward) Orientation: Location: Textbooks (required): China Since 1949 By Linda Benson, Longman, 2nd edition, 2011 China: The Balance Sheet – What the World Needs to Know About the Emerging Superpower By Fred Burgsten and others, 2006 China Road By Rob Gifford, Random House, 2008 Video Programs: All assigned programs are available on “Video on Demand” provided in our library homepage. Most of them are ready for you to review. But since they are online programs, a few may be not available by the times you click the links. If so, just skip that one and watch the others. Please try both “by segment” or “by title” for your search. Course Description: China, the most populous country, is an excellent "laboratory" for the social scientific study of political, economic and social behavior. The Twentieth Century alone has seen many changes in China's fundamental institutions: from imperial courts to military regimes and single-party police states, from rural households to international stock-holding companies, and from foot-binding and slavery to mass movements and democracy protests. The latest development in the last decade has led to the calling...
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... high maintenance costs, and other nuisances. On top of that, the average urban car sits parked 20 to 23 hours a day; many are idle from weekend to weekend. Zipcar is a new commercial car-sharing venture that provides convenient on demand means of transportation. Founded in late 1999, Zipcar’s vision and business model have little changed. Providing reliable and convenient access to on-demand transportation, complementing other means of mobility.” Zipcar manages a fleet of cars, at the disposal of its members any time for as brief as one hour. The basis for its business model is a car-sharing model where Zipcar mem Internet Essay .... The DoD wanted to create a computer network that would continue to function in the event of a disaster, such as a nuclear war. If .... (308 1 ) B Essay .... To keep track of our customers I wrote a program in C++ to store their information. Our last and most important job was a network setup for our High School. .... (522 2 ) Concept Essay .... In some respects, network exchanges resemble the sorts of exchanges people might have with one another in face-to-face meetings. .... (2437 10 ) Concept Essay .... In some respects, network exchanges resemble the sorts of exchanges people might have with one...
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...etc.) must be part of the real estate market to purchase or rent space required for their activities. The development of the real estate market depends on many factors, among which in the first place there are supply and demand. But as every market, real estate one cannot be perfect. Most disastrous situation is appeared at the Honk Kong. The Hong Kong government is trying to curb the price of the houses rise that already counts to 42% by the last 1.5 year. Just this year, home prices rose by 10,5%. It is assumed that by the end of 2012, prices will increase by 12% (HKSAR, 2011). This issue creating a possibility of bubble appears at the property market. This essay will explain main patterns of this issue and provide an explanation of it by the using demand and supply theory (part 1 of the essay), as well as describing some of the possible consequences if this situation will not change in recent time(part 2 of the essay). Part 1: Is it has been mentioned before that real estate market are mainly based on the supply and demand theory. According to Oreste(1997), main property of the demand is that, when there is existing immutability of all other variables, price reduction of product leads to an increase in demand, and vice versa. For the study of supply and demand in the property market, first of all it should be based on the specifics of the market operation process of residential properties. In particular, are six main features of residential properties: 1. The relation to...
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...Microeconomics examples of topics for essay#1 IMPORTANT Guidelines for essay - You are doing a short research paper. Therefore, you need come up with research questions or thesis. Think what interests you in what we cover in the class. For example, o If you are interested in outsourcing, your research questions could be “Is the US better off or worse off because of the outsourcing to China?”. Then you go do a research on it. Find academic articles or news articles that support and/or against outsourcing. o You do research by reading those articles that you found and then combine the information you find into a unified paper that represents your fully formed expertise. The key to the whole thing is "combining," so as you do your research, look for facts and information that go well together and help explain (or disagree with) each other o You may start your introduction and research questions. Then start a second paragraph with a short explanation of what is “outsourcing” and state facts such as how many dollars or how many jobs the US outsourced to China in 2010. o The paper must show an analysis of a real world outsourcing situation such as what are the problems with the outsourcing, why there are the problems, how to fix the problems, what the pros and cons of each solution are, and how it will affect consumers who buy imported goods at Walmart or exporters to China. o Warning: You should...
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...Introduction With economic globalization and socialization developing, operation of market mechanism becomes an indispensable aspect. And it is the overall function of the market economy, the process of economic growth is the most important driver, the launching of the Industrial Revolution was based on the market mechanism, or that the industrialization process as the core of modern productivity growth is carried out under the driving of the market operation mechanism. Thus, the market mechanism control the power that the people most concern about the price, and market mechanism can help to ensure that scarce resources are allocated to where they are most wanted. Part 1 Market is a place where goods and services are engaged in buying and selling by buyers and sellers who come together at market (tradimo, n.d). Market is one of a plenty of kinds of systems, institutions, procedures, social relations and infrastructures through parties carry out exchange. Although, parties may exchange goods and services by barter, most markets mainly depend on sellers offering their goods or services, labor in exchange for money from buyers. It could be said that it is the process of the price of goods and services established. Market promote the trade, besides, the market distribute the resources to society equally. In economics, UK runs the laissez-faire currently, called freely operating market system, it is “free” party, in this sense, the party do not intervene the taxes, subsidies ...
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...extending high school to five years because of increasing demands on students from employers and colleges to participate in extracurricular activities and community service in addition to having high grades. Some educators support extending high school to five years because they think students need more time to achieve all that is expected of them. Other educators do not support extending high school to five years because they think students would lose interest in school and attendance would drop in the fifth year. In your opinion, should high school be extended to five years? In your essay, take a position on this question. You may write about either one of the two points of view given, or you may present a different point of view on this question. Use specific reasons and examples to support your position. Educators debate extending high school to five years because of increasing demands on students from employers and colleges to participate in extracurricular activities and community service in addition to having high grades. Some educators support extending high school to five years because they think students need more time to achieve all that is expected of them. Other educators do not support extending high school to five years because they think students would lose interest in school and attendance would drop in the fifth year. In your opinion, should high school be extended to five years? In your essay, take a position on this question. You may write about either...
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...Module 2 - Case SUPPLY AND DEMAND Assignment Click Link Below To Buy: http://hwaid.com/shop/module-2-case-supply-and-demand-assignment/ Module 2 - Case SUPPLY AND DEMAND Case Assignment Write a 4- to 5-page essay that addresses the following FOUR questions on the market for milk. (For this Case, keep it simple; don't worry about different brands, etc.) 1. Explain what happens to price and quantity of milk when the following events occur (you do notneed to analyze the event itself but rather determine the effect of the event on supply and demand of milk): a. A scientific study shows that consumption of milk is beneficial for healthy bones. b. There is an outbreak of mad cow disease. c. The price of almond milk decreases. d. In order to promote healthy families, a price ceiling on milk is implemented. 2. Suppose Johnny drinks 4 cups of milk every day no matter what the price. What kind of elasticity does it have? 3. Suppose that when the price of milk increases by 40%, the percentage change in quantity demanded by consumer is reduced by 10%. Calculate the elasticity. 4. Based on your answer to Question 3, What happens to total revenue when the price of milk is increased. Why? Some helpful suggestions on completing the assignment: For each event, you must specify how it effects either demand, quantity demanded, supply, or quantity supplied. It is also important to demonstrate how the change will affect the market demand or supply curve. Also, be sure to state...
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...“The recent price wars in the supermarket and mobile phone industries have been beneficial to both consumers and their respective industries” by using various theoretical models. For this, we will also consider various microeconomic models such as Supply, Demand, Market equilibrium, Price discrimination, Opportunity cost. In the other part of assignment, we have critically evaluate the statement, “The cost of mobile phones have fallen to such a level which, if this trend continues ,would make mobile telephony more affordable to much larger segments of the emerging markets population” using various macroeconomic models such as Growth, Inflation, Unemployment, GDP. By definition, macroeconomic models are defined as the analytical tools designed to describe the operation of the economy. On the other hand, the microeconomic models are tools used to describe the behavior of individuals and small organizations in decision-making (Laberge, 2003). The research methodology used to formulate this essay is qualitative in nature. Various secondary resources have been referred including case studies and published & unpublished articles while writing this essay. These secondary resources might have some errors which can reflect in the essay. Hence, credibility, reliability and validity of the information need to be considered. Part 1: Price war is a concept used commonly in markets and arises due to rigorous competition between two or more companies (Laberge, 2003). By definition, it is...
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...Essay # 1 Sep 26, 2011 1. Why is it that a profit- maximizing businessman would always raise prices when facing an inelastic demand curve, but might or might not raise prices when facing an elastic demand curve? Explain and justify your answers in detail. Elasticity: “The percentage change in one variable relative to the change in other variable”. Price elasticity of demand is defined as “parentage change in quantity demanded, caused by a 1 % change in price. Total revenue = Price * Quantity demanded The demand is inelastic for goods considered to be necessities, and it is elastic for luxury products. For example the demand of furs, gems, and expensive automobiles is probably more elastic than the demand of milk, shoes, and electricity. When the demand is inelastic a profit maximizing businessman will raise price, when dealing with an inelastic demand curve because he expect to increase total revenue. Example: An example may be the case of salt. Today’s price of salt is about 44 cents per pound. If this price were to rise to 54 cents, or fall to 34 cents, it is very doubtful that the consumption of salt would change. People will still keep buying the inelastic items anyway of the price increase. When demand is elastic, profit maximizing businessman might or might not raise prices because an elastic demand is very price sensitive so, when price increase the demand drops and total revenue will drop. Example: Let’s take...
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...MARKETS & INVESTMENTS [pic] Task: Write a brief essay (suggested length of 2–4 pages) in which you explain how foreign exchange markets facilitate international trade. In your essay: A. Differentiate between the nominal exchange rate and the real exchange rate. The nominal exchange rate is the rate at which a person can trade the currency of one country for the currency of another. For example: The dollar/yen exchange rate is the number of dollars you can get foe each yen. The real exchange rate is the level of the exchange rate factoring in inflation differences. It’s used to measure the price of foreign goods in price levels and not just in currency adjusted terms. B. Explain the theory of purchasing power parity (PPP). The principle that a unit of currency will purchase the same basket of goods anywhere in the world (Cecchetti, 2011, p. 239). PPP is useful when the currency purchasing power of two countries varies drastically, when goods are available. For example: A box of cigarettes that sells for a $1.50 in Canada should cost a $1.00 in the U.S when the exchange rate between Canada and the U.S. is $1.50. As a result both boxes of cigarettes should cost a $1.00 in the U.S. PPP solves this by calculating the price of the box of cigarettes so the price is the same when calculated in the USD/CAD currency. C. Identify at least three primary factors that influence the supply and demand for a country’s goods. 1. Discuss how each factor can affect...
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...Essay 3) Use an extended example to discuss how ‘the sector matrix’ framework is useful for analysing demand and supply linkages in an industry. The end of the 20th century has experienced rapid changes in the way of trading, due to the expansion of capitalism. The Oxford dictionary defines capitalism as “an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state”. Due to high competition, firms have desperately been trying to reduce costs of production in order to maximise profits. Published in “Competitive Advantage” in 1985, Porter’s value chain is a great example to show how much importance firms gave to the supply side of the market in this period. Porter described the value chain as “a set of products and services linked together in a sequence of value adding economic activities”. In other words, it analyses the stages in which a product is created from raw material until it’s finished, each stage adding value to the product. Gereffi’s ‘Global Commodity chains’ uses the old strategy chains and links them with their political and geographical context, adding a spatial and territorial dimension to the demand and supply in a market.________________________________________ In 1998 in their article “Breaking the Chains? A sector Matrix for Motoring”, Julie Froud, Colin Haslam, Sukhdev Johal and Karel Williams tackled the settled chain concepts by showing its limits regarding complex industries...
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...Title: Write an essay which uses a variety of sources to analyse the main causes of unemployment. Identify strategies that governments can use to reduce each of these causes. Assess which of these strategies might be most useful in reducing unemployment. Governments often regard reducing unemployment as one of the main economic objectives. Unemployment is the existence that there is labour force able and willing to work but is unable to be employed (Bannock, Baxter, 2011). It tends to follow a cyclical pattern. In the early 1990s, the unemployment began to rise as economies around the world went into recession. On the other hand, in the mid-1990s, unemployment fell as the world was in the period of expansion. The UK is now in a very low level of unemployment. The causes of unemployment can be categorized into equilibrium unemployment and disequilibrium unemployment. It can be classical, cyclical, frictional and structural. This essay will first describe the main causes of unemployment. Then, it will survey the possible policies that can be adopted by the government to reduce these causes. Finally, it will evaluate the most useful policy. Disequilibrium unemployment is the condition that the supply of labour exceeds the demand of labour and the wages remain relatively unchanged (Gillespie, 2011). Classical (real wage) unemployment and cyclical (demand-deficient) unemployment are two possible causes of disequilibrium unemployment. Classical or real wage unemployment will happen...
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...Use the Supply & Demand model to explain how a good’s price is determined In ordinary practice, price is the quantity of payment or reimbursement given by one party to another in return for goods and services. It is generally expressed in some form of currency. This essay will discuss how a good’s price is determined using the demand & supply model. Supply & demand is perhaps one of the most fundamental concepts of economics. It is an economic model of price determination in a market. It ascertains that in a competitive market the unit price for a specific good will fluctuate until it settles at a point where the quantity demanded by consumers will equal the quantity supplied by producers, resulting in an economic equilibrium of price & quantity. DEMAND Demand refers to the want or the willingness of the consumers to buy commodities. The demand for a product may be defined as the quantity of the product that a consumer will purchase at the existing price during a particular period of time. Demand is influenced by the price of commodities. The higher the price of the commodity, the lesser will be the demand of a rational consumer; other things remaining constant. The hypothesis of – other things remaining constant – is known as the ceteris paribus. The demand curve illustrates the relationship between price & quantity demanded (as the price increases the quantity demanded decreases). Movement along...
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