User Account

All Pages

Describe how consumers make economic decisions

Assignment Help Microeconomics
Reference no: EM131756722

Assignment

Exposes students to subjects that are intended to whet their appetites for further study in economics. Students will use the theory of consumer choice and the impact of the concepts of asymmetric information, political economy, and behavior economics, to describe how consumers make economic decisions.

Assignment Steps

Scenario: You have been asked to assist your organization's marketing department to better understand how consumers make economic decisions.

Write a 1,050-word analysis including the following:

• The impact the theory of consumer choice has on:

o Demand curves
o Higher wages
o Higher interest rates

• The role asymmetric information has in many economic transactions.

• The Condorcet Paradox and Arrow's Impossibility Theorem in the political economy.

• People are not rational in behavior economics.

Cite a minimum of three peer-reviewed sources not including your textbook.

Format your paper consistent with APA guidelines.

Reference no: EM131756722

Questions Cloud

Examine outstanding noncancelable purchase commitments : At December 31, 2017, Metlock Company has outstanding noncancelable purchase commitments for 38,400 gallons, at $3.60 per gallon, of raw material.
Identify implications for theory that apply to documentary : Identify three implications for theory that apply to the documentary and explain each of them with a minimum of one paragraph.
What we talk about when we talk about love : What We Talk About When We Talk About Love - The Company of Wolves and Make sure to use specific evidence from the stories to make your assertions convincing
Compute the cost of goods destroyed : Adams Legler requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $35,900.
Describe how consumers make economic decisions : Scenario: You have been asked to assist your organization's marketing department to better understand how consumers make economic decisions.
How does your saving and spending profile change : How does your saving and spending profile change depending on the state of the economy, whether the economy is in a recession versus expansion?
Compute the amount of the loss of the fire : Teal Company lost most of its inventory in a fire in December just before the year-end physical inventory was taken.
What is your personal opinion of remix culture : What was the most disturbing aspect of Aaron Swartz's story? -In what ways is hacking beneficial or dangerous to our society
Discuss the four aspects of delivering business presentation : Discuss the four aspects of delivering business presentations discussed in the textbook to your presentation.

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd