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Consumer surplus" represents the difference between what a consumer is willing to pay for a good or service and the price that they actually pay.
Define and discuss philosophies' application to business. Illustrate how moral philosophies can influence behavior and decision-making.
What is the labor force participation rate? What was the labor force participation rate in 2008?
How are the fundamental economic decisions determined in North Korea?
How can pharmaceutical companies recoup the costs associated with failed drugs?
Explain how the price elasticity of demand affects a consumer's purchasing and the firm's pricing strategy as it relates to the simulation.
Reflect on why some products become substitutes and why some are complements (e.g. hot dogs and hot dog buns).
The relationship between the amount of labor & capital employed and the law of diminishing marginal productivity
Identify a group of competitive strategies consistent with the market structure that best aligns with the market in which the organization competes.
Discuss the differences between horizontal, vertical and conglomerate mergers and how those differ from a joint venture.
Current and expected government policies and regulations, including taxes and regulations in place to address issues related to externalities
Identify the three tariff used to valuing your product and assess duities due the government.Identify the three montary barriers
How has the composition of government spending changed since the 1960's? Support your answer with examples from the article
How is unemployment measured and reported?What is a discouraged worker? Are they included in the basic unemployment rate?
Name one monopoly firm you deal with. What is the source of its monopoly power? Do you think it seeks to maximize its profits?
What are barriers that businesses need to overcome in foreign countries? What are alternatives that businesses can utilize to prevail over these barriers?
In what type of economic system are the basic economic questions answered in the same way as in the past?
Define encryption. Identify five major benefits of encryption.Commercial activities conducted on Facebook best describes
Calculate the quota's redistributive effect, consumption effect, protective effect, and revenue effect.
What are the components of GDP, and how does energy consumption enter each of these components?
Have businesses responded to new opportunities created by increasing numbers of two-earner families?
In your answer, explain the costs and the benefits of the policy that you choose
Analyze the economy of at least two countries (not the U.S.). Complete a one page response to the following questions.
From the second e-Activity, compare the magnitude of healthcare costs in the United States to that of other developed countries.
Which is not a basic market model? Pure competition Free enterprise Oligopoly Monopoly