Ecn 601 topic 2 dq 2 Study guides, Class notes & Summaries

Topic1:FoundationsofEconomics-SupplyandDemand Topic1DQ1 Feb2-4,2023 Explainwhytheconsiderationofopportunitycostsmaybeveryrelevanttoafirm.Howcanopportunitycostsaffectabusinessdecision?Useanexampletosupportyouranswer. Topic1DQ2 Feb2-6, 2023 Thinkaboutagoodorserviceforwhichyoubelievetherehasbeenashiftindemandorsupply.Explainthereasonsbehind theshiftand howthat hasinfluencedtheequilibrium price.

Topic3DQ1 Feb16-18, 2023 Whatmarketstructurebestdescribestheenvironment withinwhichyourorganizationoperates?What challenges and opportunities would arise from higher and lower degrees of governmentintervention? Provide arationaleto supportyour selected marketstructure. Topic3DQ2 Feb16-20, 2023 How do firms contribute to the efficiency of the market economy in ways that networks ofindependentcontractorsdonot?Useyourorganization, oronewithwhichyouarefamiliar, toillustrate your response.

Topic 6DQ1 Mar9-11,2023 Whatisthedifferencebetweenriskanduncertainty?Provideexamplesofwhatyourorganizationhasdone,ornotdone,todealwithriskanduncertainty.Howdidthoseactionsaffectthefirmonceacontingencyofriskoruncertaintymaterialized Topic 6DQ2 Mar9-13,2023 Howdoesthefinancialstrengthofanorganizationinfluencedecisionmakingandoutcomes?Provideexamplesthatsupportyourrationale.

Topic 2DQ1 Feb9-11,2023 Explainasituationyouhaveobserved(orreadabout)inwhichafirmmadeadecisionconsideringirrelevantcostsordidnotconsiderrelevantcosts.Whatwastheoutcomeofthedecision,andwhatcouldhavebeendonedifferently?

Topic5DQ2 Mar2-6, 2023 In business, sports, politics, and many other fields there are probably countless situations akin totheprisoner'sdilemma whereplayersactingintheir ownself-interest donot produceanidealoutcome. Likewise, some player dynamics also illustrate other game theory concepts like a gameof chicken, credible threats/commitments, and other similar concepts. Use at least one articlefrom The Wall Street Journal to discuss a strategic situation between players that resembled oruseda...

Topic 7DQ2 Mar16-20,2023 Beginbylocatingascholarlyarticleregardingtheeffectsofincreasesonminimumwagesanddiscussitsfindings.Doesaminimumwageincreaseleadtoreductionsinemployment,oristheoveralleffectonemploymentnetpositive?Doyouagreeordisagreewiththeresultsofthestudy?Whatdoyouthinkareothervitalconsiderationsthatshouldbetakenintoaccountinthestudy?Discusshowconsciouscapitalismwouldapproachaminimumwageincrease.Provideexamplestosupportyourrationale.

Topic 8DQ2 Mar23-27,2023 Overseveraldecades,someindustries,suchastextileandclothing,whichwereonceasignificantpartoftheU.S.economy,haveshiftedmanufacturingabroad.Usingtheideaofopportunitycost,provideanexplanationofthereasoningbehindthisshift.Howhasthisshiftaffectedeconomicwell-beinglocally?Howdothegainscomparetothelosses?

Topic3DQ2 Feb16-20, 2023 How do firms contribute to the efficiency of the market economy in ways that networks ofindependentcontractorsdonot?Useyourorganization, oronewithwhichyouarefamiliar, toillustrate your response.

Topic1DQ2 Feb2-6, 2023 Thinkaboutagoodorserviceforwhichyoubelievetherehasbeenashiftindemandorsupply.Explainthereasonsbehind theshiftand howthat hasinfluencedtheequilibrium price.