Consider the Learning Objectives for the Economics courses you completed at MCC. (Review Learning Objectives in the Course Outlines below for courses you have completed). When you consider the courses you completed in Economics at MCC reflect on the following questions: What progress was made toward achieving the learning objectives; what did you learn and how did you learn it? What was the most useful or meaningful thing you learned in your economics classes at MCC? How has your understanding of economics changed your professional plans or intentions after graduation? How will your understanding of economics help you to grow as a business professional?

Consider the Learning Objectives for the Economics courses you completed at MCC. (Review Learning Objectives in the Course Outlines below for courses you have completed). When you consider the courses you completed in Economics at MCC reflect on the following questions: What progress was made toward achieving the learning objectives; what did you learn and how did you learn it? What was the most useful or meaningful thing you learned in your economics classes at MCC? How has your understanding of economics changed your professional plans or intentions after graduation? How will your understanding of economics help you to grow as a business professional?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 7SCQ: Would a research study on the effects of soft drink consumption on childrens cognitive development...

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One of the lessons of economics is that “there is no such thing as a free lunch.” This means that businesses, consumers, and whole societies face trade-offs whenever they make a decision. Please draw on your own experiences to discuss the following three items. Make sure you use economic concepts in your main contribution. Explain a decision that you have made at work, or one concerning your career, or any major life decision that you have made. Identify and explain the trade-offs that you faced. List the alternatives you had, identify the highest valued alternative, and explain your final decision to the class.
Discussion Question:1)What is your opportunity cost of taking this course at UIU? When looking at this question, please focus on your alternatives of your decisions. Also, how does the role of scarcity affect the decisions that you have to make? or 2) Locate an article that details one or more of the five foundations. Summarize the article and provide detail supporting your case on one of the five foundations. What specific economic concept from the text is found in this story? How does this concept lead people to change their behaviors? What is your reaction to this story? How would you alter the plan to achieve a different outcome? Look to answer at least two of the questions above.
Questions 8-9
In this week’s discussion, we focus on how the market changes when there are changes to the supply or demand of goods and services. (a) “This year the weather smiled on us, and we made a good crop,” said a wheat farmer in Manitoba. “But just as we made a good crop, the economic situation changed.” This quotation brings to mind the saying, “If you are a farmer, the weather is always bad.” How would use economic theory to explain that this saying might be true and what would you suggest the farmer do to make the best of the situation despite good or bad weather? (one paragraph) (b) Along with your textbook reading, review the related videos and article for a background on Canada’s marijuana legalization, then respond to the following questions:Do you see any economic effects not mentioned that might occur in the longer period? What major changes do you see happening with the supply and demand sides of the cannabis market in the long run? (1-2 paragraphs; no mini essay).
MICROECONOMICS ( ALL OF IT IS ONE QUESTION!!!) For the article which graph (1-12) best describes what happened. King Size Beds For some couples, the solution for too much pandemic togetherness is saying good night on Valentine’s Day in a bigger bed where they don’t need to touch. After nearly two years of working from home and sharing close quarters with spouses, kids and pets, people are tossing out their full- and queen-size beds in favor of more spacious kings. After nearly two years of working from home and sharing close quarters with spouses, kids and pets, people are tossing out their full- and queen-size beds in favor of more spacious kings. Robert Pagano and his girlfriend, Tracy Jones, weighed the pros and cons of switching to a king from a queen last year. The couple, who live in Las Vegas, had been getting on each other’s nerves when they were stuck working from home. “We hoped a bigger bed would help us avoid arguments,” Mr. Pagano said. “But we were worried the extra…
Topic-1 and Topic-2 Tutorial questions 1. What is economics? 2. 3. 4. 5. 6. Write short notes on the following perspectives a) Scarcity and choice b) Rational behaviour and rational self-interest c) Generalisations d) Ceteris Paribus Distinguish between the following concepts a) Microeconomics and macroeconomics b) Normative economics and positive economics c) Economic principle and economic policy d) Independent variable and dependent variable e) Direct relationship and indirect relationship between any two variables Explain the reasons why every economy is faced with the basic economic problem to answer fundamental questions such as what to produce, how to produce, for whom to produce? Differentiate between the following concepts al Consumer goods and capital goods bl Public goods and private goods The alternative production possibilities faced by the economy of Botswana in the production of cloth and bread are indicated in the following Production Possibilities Table (PPT).…
Microeconomics
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What are the major course learning outcomes from studying a microeconomics course?
3
** || 85% Microeconomics > Page 2 of 5 2. Draw and explain a production possibilities frontier for an economy that produces milk and cookies. What happens to this frontier if disease kills half of the economy's cows? 3. Consider the following events: Scientists reveal that consumption of oranges. decreases the risk of diabetes, and at the same time, farmers use a new fertilizer that makes orange trees more productive. Illustrate and explain what effect these changes have on the equilibrium price and quantity of oranges. 4. Imagine that you are a nonsmoker sharing a room with a smoker. According to the Coase theorem, what determines whether your roommate smokes in the room? Is this outcome efficient? How do you and your roommate reach this solution? 5. Charlie loves watching Teletubbies on his local public TV station, but he never sends any money to support the station during its fundraising drives. (a) What name do economists have for people like Charlie? (b) How can the government…