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Define absolute and comparative advantage. How does the concept of opportunity cost factor into comparative advantage?
Forecasting provides very useful projections for established products and services. What about products and services that have largely been ignored?
Develop a survey of consumer intentions to determine if there will be a decrease in demand for your favorite product.
Describe the Big Five personality dimension of emotional stability and discuss how it can predict behavior at work.
Discuss John Holland's personality-job fit theory. Describe value dimensions of national culture as identified by Hofstede's framework for assessing cultures.
What would be the biggest obstacles to getting this group energized? Would there be any predictable traps to avoid?
What does Gross Domestic Product (GDP) measure? What is the equation used to calculate Gross Domestic Product (GDP)?
What does the marginal analysis say about when is it the ideal time to re-open the economy?
Why do you think people are tempted to use the straw man fallacy in disagreements on moral issues? How do you feel when someone uses this fallacy against you?
Evaluate how the Federal Reserve monitors and influences unemployment and inflation in the U.S. economy.
What about the incentive system employed by Wells Fargo resulted in massive creation of fake accounts by the retail operation?
Describe the goals and objectives of the Federal Reserve? Does the Federal Reserve or the federal government set interest rates for our country?
Discuss one way that the farm could increase the surplus product without changing the total product, using your own hypothetical figures.
What is the PRODUCT you wish to introduce? Green Machine - Don't write this one. Who is the target market? Why? - Don't write this one.
What are some of the biggest opportunities related to product personalization and taking care of customers that will come up in the future?
What are the sources of market failure? Provide a real-world example. What is the rationale for government intervention in economic and market activities?
Who do you think ultimately pays these tariffs? Is it the foreign companies selling here, American consumers, or both? Explain your answer.
Why does he think this would reduce tailgating? Is his analysis based on opportunity cost or incentives? Explain.
Nestlé's has over one hundred production facilities that all purchase hair. What does simultaneous move game look like and what is the equilibrium?
Explain the effect of this crisis on USA's GDP in long-run? Explain the effect of this crisis on USA's inflation rate in long-run?
Identify a good and a service that you have used that you believe are complements of one another. Why do you think the good and service complement each other?
Should the minimum wage be implemented across the nation? What about differences across States? Should richer States apply higher minimum wage?
What should be done to prices to generate more total revenue. Access the Unit III Assignment Worksheet in Blackboard.
Indicate the number of workers used per day where the law of diminishing marginal returns begins for movie ticket sales production.
While data collection may benefit the business community, discuss the concerns for consumers as big data proliferates.