Question: ECO 202 CLASS
DISCUSSION 1: 1. After watching the video clip from Jingle All the Way, consider the following:
Prices serve a rationing function. When quantity demanded exceeds quantity supplied, prices rise to alleviate the shortage. When quantity supplied exceeds quantity demanded, prices fall to alleviate the surplus. However, when prices are inflexible, shortages and surpluses persist. Other rationing mechanisms must develop.
• Using demand and supply analysis, describe a specific situation where a shortage occurred. Why were prices unable to adjust in this market?
• Combining what you learned from your readings as well as from the video clip, what other rationing functions could develop to alleviate the shortage?
Module 2 Discussion: After viewing the video clip, Bart Gets an Elephant, consider the relationship between price elasticity of demand and total revenue, and why Homer didn't make the smartest business decision when raising the price of admission. For this week's discussion question, you should pick two products: one that is relatively price inelastic and another that is relatively price elastic. You can determine a product's relative price elasticity by considering the Determinants of the Price Elasticity of Demand listed in your textbook. You should begin by defining your product in terms of the determinants and then describe how increases in the price would affect total revenue. Would it make good business sense to be the one producing and selling these products? Why or why not?
Module 3 Discussion: After viewing the video clip from Cool Hand Luke, first consider how marginal benefits and marginal costs fit in to Luke's decision, and how the concept of diminishing marginal utility is at work as Luke eats more and more eggs.
• What is driving his marginal benefits to continue to exceed his marginal cost?
• Consider how Luke's decision would change if he had to actually pay for each egg he eats. How would this affect his choice to continue eating?
• Consider the concept of marginal utility per dollar spent (i.e. MU/p) and how it affects the consumption decisions we make. Have you ever had a time where you actually bought your second choice rather than your first choice? That is, can you think of a time where it wasn't only about marginal utility for you, but about marginal utility per dollar spent? Explain.
PSY 110 CLASS
Discussion 1: Ladies and gentlemen, you are about to see a story of murder, greed, corruption, exploitation, adultery, and treachery....all the things we hold near and dear to our hearts." This is the opening line in the Broadway musical, Chicago.
Log on to at least 3 of the top online news websites such as CNN, MSNBC, CBS News, USA Today, ABC News to take a look at what kind of national or global lead stories are prevalent. How much of the news reflects disaster, violence, crime, corruption, or otherwise negativity? In what ways do you think viewers and readers get an inaccurate or distorted impression about what is really happening in the world? How do you think the psychological well-being of viewers and readers might be affected by what they read on a daily basis? What do you think the attraction is to this kind of negativity?
Discussion 3: For this Discussion, please address each of the following:
Pleasant Life: Design a beautiful day for yourself. Think about activities that you would find highly enjoyable and those that are important to you. Describe what you would do, how you would do it, and your individual positive traits and strengths you have to carry out your plan. Finally, explain why you think Martin Seligman believed that taking the time to lead a pleasant life can benefit our psychological well-being.
Good Life: Decide on some unpleasant or tedious task that you must do. Think about how you can accomplish it in a more invigorating way. Describe what you would do, how you would do it, and your individual positive traits and strengths you have to help you transform the unpleasant task into a pleasant one. Finally, explain why you think Martin Seligman believed that taking the time to lead a good life can benefit our psychological well-being.
Meaningful Life: Plan the "perfect" surprise for someone who needs it. Think about what is important to that person and how you can help them. Describe what you would do, how you would do it, and your individual positive traits and strengths you have to carry out your plan. Finally, explain why you think Martin Seligman believed that taking the time to lead a meaningful life can benefit our psychological well-being.