Assignment:
DISCUSSION
Topic: The Wealth of Nations
a. Think of the last two major things you bought. Why did you buy them? What were your opportunity costs in making the purchase? What would have been the opportunity cost, if you had NOT made the purchase? (Not all opportunity costs are measured in money.)
b. Did those selling them to you provide the goods because they cared about your needs? What was their REAL motivation?
c. When you go to work, why do you "sell" your labor to that organization? Do you really care what the owner of the organization really wants?
d. How do questions b. and c. relate to Adam Smith's statement from The Wealth of Nations: "It is not from the benevolence of the butcher, the brewer, or the baker that you expect our dinner, but from their regard to their own interest? We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages."
Discussion
Topic 1: Beginnings and Introductions
Part A: The Course Syllabus
Please read the course Syllabus. Then read the content below and acknowledge your acceptance in the introduction area besides providing your personal introduction. If you have any questions, please post the questions in the Discussion below.
The Syllabus is a contractual agreement between the professor and the student. The Syllabus dictates the terms of this course.
• In each of the Assignments and Discussions there are detailed directions. Please read the directions and follow them. The rubrics for grading course Assignments and Discussions in this class are based upon the posted directions. Assignments and Discussion topic postings submitted without the correct components will be subject to forfeiture of course points.
• Please always use correct spelling, grammar, punctuation, word usage and sentence structure, compilation and logic in all class work. This is a requirement of this course and a requirement of the university.
• Read the Late Policy in the course Syllabus.
• Attendance is fundamental to student success in an online course. Please monitor and adhere to course attendance policies.
• Purdue University Global encourages students to attend the weekly Seminars. Seminar attendance and participation are not mandatory, but if you miss a Seminar you will be required to submit an Alternative Assignment to obtain the points allotted to the Seminar or Alternative Assignment.
After reading the course Syllabus and the above course policies, please acknowledge your understanding and acceptance of these documents by responding to this Introduction with an affirmative answer besides introducing yourself.
Part B: Introductions
Introduce yourself to your classmates.
Please include the following information:
• How you would like to be addressed in the course.
Organizational Behavior is a field of study that focuses on individual and group behavior in organizations and how that behavior affects organizations' success (Robbins and Judge, 2019).
• Have you had any experience with organizational behavior concepts previously? Explain.
• What is your chosen field of study? How do you think you might use this information in your chosen field?
• Do you affirm that you understand and accept the Syllabus policies and stipulations?
Reference
Robbins, S. P. & Judge, T. A. (2019). Organizational behavior (18th ed.). New York, NY: Pearson.
Discussion 2
Topic 2: Four Functions of Management
Present and future managers benefit from becoming proficient in the four functions of management (i.e., POLC) as addressed in your Reading and Learning Activities. Address the following questions regarding POLC below.
• Describe an example when you have used each of the four functions in either a personal, school, or work experience.
• Have you ever used all four functions in a civic, personal, or work experience? Explain.
• Which function(s) do you believe you personally need the most additional training in? Explain.
• In which of the POLC functions do you believe you are strongest? Why?
Assignment
In this Assignment, you will demonstrate your understanding of certain economic principles that underlie virtually all decisions that people make. Specifically, the concept of Opportunity Costs by selecting the correct underlying principle and explaining in a series of logical steps which would likely produce the results described.
Questions
1. Howard needs to buy a laptop computer to start online university courses. The price at the local computer store is $650. The identical computer is available at one online site for $605 and another site, for $622. All prices include the appropriate sales tax. The accompanying table indicates the typical shipping and handling charges for the computer ordered online.
a. Define "opportunity cost" in economic terms.
b. In this situation, what are the opportunity costs of Howard choosing to buy online instead of at the local computer store? Note that if you buy the computer online, you must wait to get it.
c. Show all of the relevant choices for Howard.
d. What determines which of these choices Howard will choose?
2. During the improving economic conditions of 2015 and early 2016 much additional construction of homes and condos throughout much of the U.S. took place. This provided a significant increase in the income of workers in the construction trades. Many of the construction workers were immigrants and have family and relatives in other countries. Often these workers would send part of their income to their less fortunate relatives in their old country, especially in Mexico and some of the South American countries.
a. Which of the economic principles best describes this situation?
b. Using the principle you have selected, describe the chain of events that best explains how increased spending for U.S. home and condo construction is likely to affect the performance of the economies of these South American countries.
3. From June 2008 oil was at a high of $144.78 per barrel. During the period from April 2011 until July of 2014, the price of oil hovered between about $115.32 per barrel and about $105.22 a barrel. Then, starting in August 2014 oil began a precipitous fall in price from the $105.22 to $33.62 a barrel in January 2016. Although the U.S. has great amounts of oil that can be brought out of the ground by "fracking," by the beginning of 2016 many of the workers in the U.S. oil exploration and drilling industry were out of work and tremendous amounts of oil exploration equipment was sitting in the equivalent of "used car lots" to be sold.
a. Which of the economic principles best describes this situation?
b. Using the principle you have selected, describe the chain of links that best explains how the falling international oil prices caused U. S. workers to be laid off and available U.S. oil to be left in the ground.
Attachment:- Organizational Behavior.rar