...LEARNING TEAM CHARTER – TEAM “D” Course Title ECO/365 Principles of Microeconomics Team Members/Contact Information Name Phone Time zone and Availability During the Week Email xxx-xxx-xxxx (e.g., AZ “Mtn Time”, Mon-Sat 9-11pm) Latosha McFarlin 904-412-4370 EST – Mon - Fri any time after 5:30 and Saturday any time after 1pm Tasha.mcfarlin@yahoo.com Theodore Metzger (TJ) 785-342-4721 CST – Available by text and e-mail at all times. I work odd hours and schedule changes so by text or e-mail is the best Remimetzger303@gmail.com Team Ground Rules and Guidelines What are the general expectations for all members of the team? Latosha – I expect all team members to contribute to all Team assignments, to participate in discussions within the team and to adhere to set agreed upon set deadline for assignment submission. TJ-In my past classes we had different team leaders each week and I have nothing but positive results with this. So I feel like we need team leaders. Expectations for Time Management and Involvement (Participation, communication with the team, accessibility, etc.) Latosha – Each week we will set a deadline for assignment submission. If you cannot meet that deadline we should communicate status updates to the team in a timely matter so that we can make necessary adjustments. I have listed my cell# and available time; please do not hesitate to call me if needed. TJ-Check in on...
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...Supply and Demand University of Phoenix XECO/212 When prospective homebuyers are looking to buy a new home in their area, they should consider the health their local real estate market is in. A prospective homebuyer needs to have an understanding of the many different economic trends a real estate market can have, There are many different business cycles and real estate trends that will have an affect on why a homebuyer would purchase a home and there are different monetary advantages depending on what kind of business cycle going on at the time. The major factor that has an influence on the price of housing is supply and demand of your local real estate. The most basic economic principal on a products price is supply and demand, Supply and demand determines the price of products based on the availability products. If a products demand is high and the supply is low then the price will increase, because people are buying large quantites of the product and if supply is high and the demand is low, It’s probable that people are not buying the product at that time so the price will generally be lower than it would if people were buying a large amount of the product. There will always be a need for homes because there will always be people that need them which makes homes inelastic. The terrorist attacks in September of 2001 created a substantial amount of uncertainty within our economy and spawned a consumer confidence crisis...
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...Almost every holiday season, the most popular "must have" toy is in short supply. And there's usually a strong secondary market for the item – with parents paying well over the retail price just to make their children happy. Then, in January, stores reduce the prices of their remaining holiday items – cards, decorations, and so on. Why do parents – and stores – behave this way? The answer is in the laws of supply and demand. Together, these laws give us strong clues about what to produce, how much to produce, and how much to charge. Because supply and demand play such a central role in our economy, it's important to understand how they operate – and how you can use them to analyze decisions about price and quantity. The Law of Demand Demand, in economic terms, shows how much of a product consumers are willing to purchase, at different price points, during a certain time period. After all, we all have limited resources, and we all have to decide what we're willing and able to purchase – and at what price. As an example, let's look at a simple model of the demand for a good – let's say, gasoline. (Note that this example is illustrative only, and not a description of the real gasoline market.) If the price of gas is $2.00 per liter, people may be willing and able to purchase 50 liters per week, on average. If the price drops to $1.75 per liter, they may be able to buy 60 liters. At $1.50 per liter, they may be prepared to purchase 75 liters. Note that while...
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...Answers to the Problems and Applications 1. William Gregg owned a mill in South Carolina. In December 1862, he placed a notice in the Edgehill Advertiser announcing his willingness to exchange cloth for food and other items. Here is an extract: 1 yard of cloth for 1 pound of bacon 2 yards of cloth for 1 pound of butter 4 yards of cloth for 1 pound of wool 8 yards of cloth for 1 bushel of salt a. What is the relative price of butter in terms of wool? 1 pound of butter exchanged for 2 yards of cloth and 4 yards of cloth exchanged for 1 pound of wool. Hence 1 pound of butter exchanged for 2 yards of cloth and 2 yards of cloth exchanged for 1/2 pound of wool. So the relative price of butter in terms of wool was 1/2 pound of wool per pound of butter. b. If the money price of bacon was 20¢ a pound, what do you predict was the money price of butter? 1 pound of bacon exchanged for 1 yard of cloth and 2 yards of cloth exchanged for 1 pound of butter. Hence it took 2 pounds of bacon to exchange for 1 pound of butter. As a result, if the money price of a pound of bacon was 20¢ the money price of 1 pound of butter was 40¢. c. If the money price of bacon was 20¢ a pound and the money price of salt was $2.00 a bushel, do you think anyone would accept Mr. Gregg’s offer of cloth for salt? If the money price of bacon is 20¢ a pound, Mr. Gregg’s offer to exchange 1 pound of bacon for 1 yard of cloth means that anyone could obtain 1 yard of cloth for a money price of 20¢. Mr. Gregg’s...
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...MGT 496 WEEK 1 QUIZ To purchase this visit following link: http://www.activitymode.com/product/mgt-496-week-1-quiz/ Contact us at: SUPPORT@ACTIVITYMODE.COM MGT 496 WEEK 1 QUIZ MGT 496 Week 1 Quiz 1.Question : Which of the following is NOT an example of independent demand? Question 2. Economic order quantity (E.O.Q.) is a balance of ____________ and __________. Question 3. Which of the following statements are true about independent or random demand? Question 4. The supply chain does not need an order to operate. Question 5. Which of the following is a technique to reduce demand lead time variability (L.T.V.)? Question 6. The relationship between cost and service is always a straight line. MGT 496 WEEK 1 QUIZ To purchase this visit following link: http://www.activitymode.com/product/mgt-496-week-1-quiz/ Contact us at: SUPPORT@ACTIVITYMODE.COM MGT 496 WEEK 1 QUIZ MGT 496 Week 1 Quiz 1.Question : Which of the following is NOT an example of independent demand? Question 2. Economic order quantity (E.O.Q.) is a balance of ____________ and __________. Question 3. Which of the following statements are true about independent or random demand? Question 4. The supply chain does not need an order to operate. Question 5. Which of the following is a technique to reduce demand lead time variability (L.T.V.)? Question 6. The relationship between cost and service is always a straight line. MGT 496 WEEK 1 QUIZ To purchase this visit following link: ...
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...ECO 203 WEEK 4 QUIZ To purchase this visit following link: http://www.activitymode.com/product/eco-203-week-4-quiz/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECO 203 WEEK 4 QUIZ ECO 203 Week 4 Quiz 1. Question : M1 includes all but which one of the following? 2. Question : The transactions demand for money depends on 3. Question : Individuals accept dollars because 4. Question : The fact that money is legal tender increases its 5. Question : According to the M1 definition, the money supply consists of currency held by the public plus 6. Question : To keep the federal funds rate from rising above the target zone, the Fed must 7. Question : If the Fed sells government bonds on the open market, which of the following is likely to occur? ECO 203 WEEK 4 QUIZ To purchase this visit following link: http://www.activitymode.com/product/eco-203-week-4-quiz/ Contact us at: SUPPORT@ACTIVITYMODE.COM ECO 203 WEEK 4 QUIZ ECO 203 Week 4 Quiz 1. Question : M1 includes all but which one of the following? 2. Question : The transactions demand for money depends on 3. Question : Individuals accept dollars because 4. Question : The fact that money is legal tender increases its 5. Question : According to the M1 definition, the money supply consists of currency held by the public plus 6. Question : To keep the federal funds rate from rising above the target zone, the Fed must 7. Question : ...
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...Category Course Title MICRO ECONOMICS Courses with conceptual focus Course Planner 12526::Pooja Kansra Lectures 4.0 Tutorials Practicals Credits 1.0 0.0 5.0 TextBooks Sr No T-1 Title Microeconomics Theory and Applications Reference Books Sr No R-1 R-2 R-3 Other Reading Sr No OR-1 OR-2 OR-3 OR-4 OR-5 OR-6 OR-7 Journals articles as Compulsary reading (specific articles, complete reference) Kwang Ng,Yew,Why Is a Financial Crisis Important? The Significance of the Relaxation of the Assumption of Perfect Competition,International Journal of Business and Economics,2009,Vol.8,No.2,91-114 , Roman Indrest and Tommasso Valletti,Price Discrimination in input markets,The Rand Journal of Economics,Vol. 40,No.1,Spring 2009,1-19 , Cordtz,Dan,Car wars: A global report on Auto Industry,FInancial World,August 22,1989;158,17;ABI/INFORM Global , S.k.Mishra,A Brief History of Production Functions,The IUP Journal of Managerial Economics,November,2010,Vol. VIII,No. 4,pp.6-34 , Monika Jain,Paradox of Plenty,with Special Reference to Inelastic Demand for Apples,The IUP Journal of Managerial Economics,May,2011,Vol. IX,No. 2,pp.4455 , Cathy Locke Bee Staff Writer. The Sacramento Bee ,"EID report reveals household water use on rise An analysis of supply, demand recommends holding off on meters" http://search.proquest.com/docview/246565304?accountid=80692 , Yeung; Vincent Mok,Regional monopoly and interregional and intraregional competition :The parallel trade in coca cola between shanghai and Hangzhou in China...
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...ECO 205 Entire Course (UOP Course) For more course tutorials visit www.tutorialrank.com ECO 205 Week 1 CheckPoint Principles of Economics ECO 205 Week 1 DQ 1 and DQ 2 ECO 205 Week 2 CheckPoint Industry Research Part I ECO 205 Week 2 Assignment Supply and Demand (appendix C) ECO 205 Week 3 CheckPoint Industry Research Part II (appendix B) ECO 205 Week 3 DQ 1 and DQ 2 ECO 205 Week 4 CheckPoint International Trade Debate Part I ECO 205 Week 4 CheckPoint International Trade Debate Part II ECO 205 Week 4 Assignment Taxation ECO 205 Week 5 CheckPointLabor Market Scenario ECO 205 week 5 DQ 1 and DQ 2 ECO 205 Week 6 CheckPoint Industry Research Part III ECO 205 Week 6 Assignment Labor Market Research ECO 205 Week 7 CheckPoint Calculation of the Consumer Price Index (appendix D) ECO 205 week 7 DQ 1 and DQ 2 ECO 205 Week 8 CheckPoint Industry Research Part IV (appendix B) ECO 205 Week 8 Federal Reserve, Banking, and Inflation ECO 205 Week 9 capstone DQ ECO 205 Week 9 Final Project Industry Research Completion ---------------------------------------------------------------------------- ECO 205 Week 1 Checkpoint Principles of Economics (UOP Course) For more course tutorials visit www.tutorialrank.com 1. CheckPoint: Principles of Economics • Due Date: Day 6 (Individual forum) • CompleteQuestion 16 under Problems and Applications in Ch. 1 of Principles of Economics. • Findthree current articles about the economy...
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... Corporate About Search You are here: > Home > Strategy Tools > Supply and Demand Curve Leadership Skills Team Management Strategy Tools Problem Solving Decision Making Project Management Time Management Stress Management Communication Skills Creativity Techniques Learning & Study Skills Career Skills Almost every holiday season, the most popular "must have" toy is in short supply. And there's usually a strong secondary market for the item – with parents paying well over the retail price just to make their children happy. Then, in January, stores reduce the prices of their remaining holiday items – cards, decorations, and so on. Why do parents – and stores – behave this way? Share 1 Free eNewsletter Learn new career skills every week, plus get our Strategy Toolkit pdf, worth $9.99, free when you subscribe! First name Supply and Demand Curves Understanding Price and Quantity in the Marketplace Email Privacy Subscribe The answer is in the laws of supply and demand. Together, these laws give us strong clues about what to produce, how much to produce, and how much to charge. Because supply and demand play such a central role in our economy, it's important to understand how they operate – and how you can use them to analyze decisions about price and quantity. A sudden increase in demand can push up prices. © iStockphoto Quick Tools Tell a friend The Law of Demand Are you a developer? Try out the HTML to PDF API open in browser PRO version ...
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...10 SUPPLY CHAIN MANAGEMENT Teaching Notes This chapter introduces the concept of supply chain, its management, performance measures and improvement approaches. As an extension of the systems point of view, the system dynamics inherent in the supply chain are illustrated and the coordination in the supply chain is emphasized. Five areas where measurement of supply chain performance should be made are discussed. The five areas are on-time delivery, quality, time (business cycle) total delivered cost and flexibility. Supply chain strategies including functional or innovative strategies are described with examples. The basic ways to improve supply chains by changing structure or infrastructure are illustrated. The chapter ends with a discussion of e-business, e-procurement, and virtual supply chains. In teaching the chapter, it is helpful to illustrate the systems interactions in a supply chain and show how supply chain performance can be measured and improved through the use of concrete examples. The references by Lee (1995, 2004), Schonberger (1996), Fisher (1997), Badoc (2001), and Baliga (2001) will be useful in preparing lectures. Answers to Questions 1. Supply chain management is planning, design and control of the flow of information and materials along the supply chain in order to meet customer requirements in an efficient manner, now and in the future. Demand management is managing the demand for goods or services along the supply chain...
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...For more course tutorials visit www.tutorialrank.com ECO 561 Week 1 Individual Assignment Scenario Concept (Price Elasticity Scenario) ECO 561 Week 1 DQ 1 ECO 561 Week 1 DQ 2 ECO 561 Week 2 Learning Team Assignment Scenario Analysis ECO 561 Week 2 Assignment Cost and Revenue Curves Simulation ECO 561 Week 2 DQ 1 ECO 561 Week 2 DQ 2 ECO 561 Week 3 Individual Assignment Cost Scenario ECO 561 Week 3 DQ 1 ECO 561 Week 3 DQ 2 ECO 561 Week 4 Individual Assignment Simulation Analysis ECO 561 Week 4 DQ 1 ECO 561 Week 4 DQ 2 ECO 561 Week 5 Individual Assignment Interest Rate Report ECO 561 Week 5 DQ 1 ECO 561 Week 5 DQ 2 ECO 561 Week 6 Learning Team Assignment International Paper ECO 561 Week 6 DQ 1 ECO 561 Chapter 1 Quiz ECO 561 Chapter 2 Quiz ECO 561 Chapter 3 Quiz ECO 561 Week 4 Quiz ECO 561 Chapter 5 Quiz ECO 561 Chapter 6 Quiz ECO 561 Chapter 7 Quiz ECO 561 Chapter 8 Quiz ------------------------------------------------------------------------------------------ ECO 561 Chapter 1 Quiz (UOP Course) For more course tutorials visit www.tutorialrank.com Chapter 1 Quiz Question 1 As per the law of demand: When rates increase, ceteris paribus Question 2 In response to news reports that taking aspirins daily can reduce an individual's risk of a heart attack, there will most likely be Question 3 The number of pizzas this restaurant sells per week increases from 500 to 700. This could be caused by Question...
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...Economics | | |03/01/2012 - 03/29/2012 | | |PUERTO RICO CAMPUS | Copyright © 2009, 2008, 2006, 2004 by University of Phoenix. All rights reserved. Course Description This course introduces the fundamental theories of microeconomics and macroeconomics. The economic principles studied in this course apply to everyday life as students research an industry, debate issues with trade agreements, discuss the effects of a shift in labor supply and demand, and discuss the strengths and weaknesses of the Consumer Price Index calculation. In particular, students research an industry affected by the economy and perform an economic analysis of the chosen industry. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: University policies: You must be logged into the student website to view this document. Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure...
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...Microeconomics Practice Exam One (Chp 1 - 4) 1. The marginal benefit from consuming another unit of a good: A. must equal the marginal cost or the unit will not be consumed. B. must be less than the marginal cost or the unit will not be consumed. C. equals the increase in total benefits from consuming the unit. D. equals the total benefit obtained from the consumption of all prior units. 2. Mary buys cell-phone services from a company that charges $30 per month. For that $30 she is allowed 600 minutes of free calls and then pays 25 cents per minute for any calls above 600 minutes. Mary has used 600 minutes this month so far. What is her marginal cost per minute of making additional calls? A. 25 cents B. 10 cents C. 5 cents D. Zero 3. Suppose the marginal cost of dating Perry is $30 and the marginal benefit is worth $40 to you. Following economic reasoning, you should: A. date Perry. B. not date Perry. C. determine what your sunk costs are. D. determine what your total benefits and total costs are. 4. Alan is sitting in a bar drinking beers that cost $1 each. According to the economic decision rule, Alan will quit drinking when the marginal: A. benefit to him of an additional beer is less than $1. B. cost to him of an additional beer is less than the marginal benefit. C. cost remains at $1. D. benefit to him of an additional beer is greater than $1. 5. Opportunity cost: A. includes only monetary outlays. B. is the net benefit forgone by not undertaking...
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...known for its beneficial nutrients like protein as energy booster and beta carotene from carrots which is best for cancer prevention. This product is not only nutritious but affordable as well for the public. The proponents chose this food product because the production and marketing is easy. The proponents expected a high demand for this food product nowadays because prices of other food products are high. Lumpia Shangai is not only a delicious viand but it also one of the best alternative for snacks. B. Market Description The proponents identified its market as current market and potential market. The current market which is the main market or consumer consist of all students of Bukidnon State University coming from five colleges namely: College of Arts and Sciences, College Business Administration and Information Technology, College of Community Education and Industrial Technology, College of Teacher Education and College of Nursing with a total population of 8,355 (see table 1 below). The other market is the potential market or consumer to include the High school, elementary, teaching staff, non-teaching staff and visitors (see table 2 below). Table 1 Primary Consumer...
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...any fluctuations you observe to documented supply and demand factors, as outlined in our book. By the end of the 6-week period of November 19th –December 31, gas prices in Chicago had risen significantly. In it’s bi-monthly newsletter at the beginning of January 2011, the Lundberg Survey, a report which tracks gas prices, points to Chicago for the highest gasoline prices nationally topping the charts at an average of $3.35 per gallon for regular. With Illinois already high, 58.8 cent gas tax coupled with the city of Chicago’s gas tax of 50 cent a gallon any nationwide increase in gas prices will be even more significant in Chicago (1). Gas prices vary widely from state to state based largely on local taxes placed on the inelastic product. But prices have been trending higher nationwide after an increase in the price of crude oil, the main ingredient in gasoline (2). In Chicago, just as in the rest of the U.S., there was an increase in demand for oil during the period of November 19th –December 31, 2010. This increase in demand is illustrated by the decrease in U.S. crude oil inventories. Between the mentioned period of 6 weeks, crude oil inventories declined by 21.84 million barrels (3). These declines were a result of increases in gas consumptions, which also translate into increases in demand. The increase in inventories doesn’t stop with the U.S. Emerging market economies such as China and India contribute to the increase in oil demand worldwide. With increases in the consumption...
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