Premium Essay

Eco100 Assignment 1

In: Business and Management

Submitted By pinder89
Words 919
Pages 4
Strayer University
Professor Page
ECO100
Assignment 1

Alcohol abuse is a major problem in today’s society. With a down an economy, there are more and more people turning to alcohol while actually helping the local package store to thrive. Economist may see it differently. They may see it as a way; first they will “Use Assumptions to Simplify”. (O'Sullivan, A., Sheffrin, S. M., & Perez, S. J. (2012)) Why are these people drinking? Is it because they struggle and worry how they are going to pay their bills, or is they are stressed out. Next they must “Isolate Variables – Ceteris Paribus.” That is they must find out the relationship between two variables (O'Sullivan, A., Sheffrin, S. M., & Perez, S. J. (2012)) like the down economy and the loss of jobs, with the number of people abusing alcohol. The third element of economic way of thinking involves “Thinking at the Margin”. Economists have to think about slight changes in one variable to see the outcome of the decision. (O'Sullivan, A., Sheffrin, S. M., & Perez, S. J. (2012)) For instance, if the price of the alcohol tax was raised significantly would it lead to less people abusing alcohol, or will it lead to more crime and bootlegging back from yesteryear. Finally, economists need to think about the last element. “Rational People Respond to Incentives” Economist tends to think that most people act rationally and act in their own self-interest. (O'Sullivan, A., Sheffrin, S. M., & Perez, S. J. (2012)) There are two possible solutions to abuse of alcohol; one is to have the economy turned around and get people hired, while the next possible solution would be to offer rehab clinics at lower price to individuals.
Prescription Drugs
Prescription drugs affect the supply and demand of other products and services in this country by way capitalism. When you are ailing from flu, you typically go to the...

Similar Documents

Free Essay

Introduction to Triple Cube

...INTRODUCTION TO MICROECONOMICS COURSE GUIDELINE June 2015 CONTENT 1. COURSE STAFF 3 1.2. Communication with Staff 3 2. INFORMATION ABOUT THE COURSE 3 2.2. Teaching times and Locations 3 2.3. Units of Credit 3 2.4. Perquisite and Parallel courses 3 2.5. Relationship of this course to other course offerings 3 2.6. Approach to learning and teaching 4 3. COURSE OBJECTIVES AND OUTCOMES 4 3.2. Course objectives 4 3.3. Student learning and outcomes 4 3.4. Teaching Strategies 4 4. STUDENT RESPONSIBILITIES AND CONDUCT 5 4.1. Workload 5 4.2. Attendance 5 4.3. General Conduct and Behavior 5 4.4. Keeping informed 5 5. LEARNING ASSESSMENT 5 5.1. Assessment details 5 5.2. Assignment Submission Procedure 7 5.3. Late submission 7 5.4. Assignment Format 7 6. ACADEMIC HONESTY AND PLAGIARISM 7 7. STUDENT RESOURCES 8 7.1. Course Resources 8 8. COURSE SCHEDULE 9 COURSE STAFF Teaching Staff: Cao Minh Man PhD Room: A1-308 Phone: Email: cmman@hcmiu.edu.vn Consultant times: To be advised/ also by appointment Tutor: Room: Phone: Email: Consultant times: 1 Communication with Staff Student are advised to contact staff during consultant times, or by arranging an appointment INFORMATION ABOUT THE COURSE 2. Units of Credit UOC value for the course: 3 1 Perquisite and Parallel courses Not applicable 2 Relationship of this course to other course......

Words: 1521 - Pages: 7

Free Essay

The Key Concepts in Economics

...Assignment: The Key Concepts in Economics Curing Chronic Homelessness ECO100 The topic I chose is about homelessness and the cure that is sweeping the nation. There are multiple types of homeless, some are short termed, often uncounted as they are able quickly recover from the reason which left them homeless in the first place. Some are considered chronically homeless, which can mean a couple things; the first is that the homeless person has gone without a steady home at least four times out of the last four years. But, this can also mean that they have a disability that has caused them to be homeless for more than a year. Unfortunately, we have seen constantly increasing numbers of homeless Veterans since the Vietnam War (Haggerty, 2015). Not only is it doing the exact opposite of everything we have been told is the correct way to handle homelessness, especially chronic homelessness, but it is proving to be far more successful than anyone could have ever dreamed (The Editorial Board, 2015)! No matter where you live, the signs of homelessness are there if you take the time to look for them.. They are the most obvious when you are within great city centers because there is an ease of access to assistance that comes with being close to major hubs. Nevertheless, even an hour outside of a major city where we have nothing but farmland and wild land as far as the eye can see, we still have the same problems, they are just harder to find. One good example is during the warm......

Words: 1479 - Pages: 6

Premium Essay

Doc, Docx Pdf

...Free eChapters (FALL 2012) eChapters offer students immediate access to the first few chapters of their textbooks while they are waiting for the print book to arrive. eChapters help students to keep up with required reading and assignments until they receive their course material, without having to pay expedited shipping costs. eChapters that are available from the publisher are attainable free of charge. How do students gain access to free eChapters? Not all courses or textbooks have eChapters available. For all courses where eChapters are available, the files are located in the student’s Blackboard course shell under the Student Center. Below is a list of courses with eChapters loaded into the course shells, giving students free access as of the first day of classes. * = eChapters are forthcoming Course ID ACC100 ACC206 ACC303 ACC304 ACC305 ACC306 Text Title Accounting Principles – 9th edition Accounting Principles – 9th edition Intermediate Accounting 14e Intermediate Accounting 14e Intermediate Accounting 14e Microcomputer Applications for Accounting Excel 2010 Microsoft® Excel 2010: A Case Approach, Complete, 1st Edition, copyright 2011 SOUTH WESTERN FEDERAL TAXATION 2012: COMPREHENSIVE, 36th ed. South-Western Federal Taxation 2013: Corporations, Partnerships, Estates and Trusts, 36th Edition Cost Accounting 13th 09 ed. Advanced Accounting 4th 10th ed. Auditing & Assurance Services 13th 10 ed. Core Concepts of Government and Not for Profit Accounting 2nd ed., 2011 ed......

Words: 3676 - Pages: 15

Premium Essay

Asdfasdfasdfas

...towards mastery in the practice of problem solving Assessments MODULE 4 Technology 1. You are the manager of 2 small stores with production functions q = K¼L¼ and a larger store with production function q = 2K¼L¼. You hire capital for $4, labour for $1. When you took over this role, your boss told you that Q = 24 was the profit maximizing output for this multi-plan firm: 24 = q1 + q2 + q3. Now, the price of labour rises to $4. Provide (i) Isoquant/Isocost diagrams, (ii) Total Cost and (iii) Marginal Cost diagrams. Illustrate the substitution effect (point a to b) and output effect (point b to c) on these diagrams. Explain why your firm uses less capital even when the price of labour increases. (September 2010) For the production function q = K2 + L2 (A) Demonstrate that the elasticity of substitution is negative. (B) Provide a labelled diagram showing the q = 100 isoquant (C) Briefly explain what a negative value means for σ 3. 4. A special production function is q = min( 80K, 4L1 + 2L2). Discuss the production process described by this function. Is this production function constant returns to scale? Five-year-old Jack has set up a hot chocolate stand outside his home. His customers like hot chocolate made in only one way, one unit of chocolate and 3 units of milk to go into each unit of hot chocolate. Jack’s mother, Naomi, provides him with heat, cups and cleaning free of charge. However, she charges him $0.25 for each unit of chocolate and $0.50 for each unit of milk.......

Words: 50660 - Pages: 203