Economics

Understanding what leads to shortages and surpluses is helpful in any business. Just as we’ve seen with our winter jacket company, these concepts are particularly relevant when it comes to products that consumers don’t need year-round. Demand and supply shift depending on the time of year. For this assignment, create and upload at least a 10-slide presentation with speaking notes identifying and discussing three products that have seasonal fluctuations in supply and demand. In addition, explain how producers can fill a market need during periods of reduced demand. How can you determine if the price will increase or decrease in the next twelve months? Be specific and thorough in your answer. Your presentation should have a reference slide with at least 1 citation

Part 1: Read the articles Jessica Alba’s Triple Bottom startup raises $25 million (https://www.forbes.com/sites/causeintegration/2012/09/14/the-bottom-line-of-corporate-good/#2d09860d3576) and The bottom line of corporate good (https://www.forbes.com/sites/annefield/2013/11/17/jessica-albas-triple-bottom-line-startup-raises-25-million/#6e39618f4111).   In reference to the articles, discuss how firms incorporate the triple bottom line concept into traditional business concerns over profitability.   -In 300 words or more, please, provide your response to the above question. Comment on how customers can influence firms to pay more attention to the preservation of the natural environment.   Part 2: To save on gasoline expenses, Edith and Mathew agreed to carpool together for traveling to and from work. Edith preferred to travel on I-20 highway as it was usually the fastest, taking 25 minutes in the absence of traffic delays. Mathew pointed out that traffic jams on the highway can lead to long delays making the trip 45 minutes. He preferred to travel along Shea Boulevard, which was longer (35 minutes), but rarely had traffic jams. Edith agreed that in case of traffic jams, Shea Boulevard was a reasonable alternative. Neither of them knows the state of the highway ahead of time. After driving to work on the I-20 highway for 1 month (20 workdays), they found the highway to be jammed 3 times. Assuming that this month is a good representation of all months ahead, should Edith and Mathew continue to use the highway for traveling to work?   How would your conclusion change for the winter months, if bad weather makes it likely for traffic jams on the highway to increase to 6 days per month?   How would your conclusion change if Mathew purchased a new smart-phone app that could show the status of the highway traffic prior to their drive each morning, thus reducing the probability of them getting into a jam down to only 1day per month (where on this day, the app showed no traffic jam, but a jam developed in the meantime as they were driving along the highway). – In 300 words or more, please, provide your response to the above question. Please, show all your calculations and explain your answers. Further, comment on how the conclusions of this problem will change if there was no uncertainty and the highway always had traffic jams, whereas Shea Blvd was always traffic jam free? Is this scenario realistic and why?

Write a brief (less than 1 page) summary of a media article, video, podcast, etc. that relates to sports analytics.

For this assignment, you should use the information found on the official Department of Labor website, http://www.bls.gov/home.htm and scholarly references – may use text: Mankiw, N. G. (2017). Principles of Economics (Eighth). Boston, MA: Cengage Learning.   Unemployment is one of the major concerns that people have in today’s economy, since losing one’s job can be one of the most devastating events a person can experience. But what do the numbers actually mean? What is the actual state of the economy, in terms of its ability to generate jobs for its citizens? Questions: ·      What is the labor force participation rate? What was the labor force participation rate in 2008? How has it changed since 2008 and what does this change imply for the state of the economy? Does the labor force participation rate effect the unemployment rates reported in the media? ·      How is unemployment measured and reported? ·      What is a discouraged worker? Are they included in the basic unemployment rate? Are they included in any measure of unemployment? How has the number of discouraged workers changed since 2008? How does the exclusion of the discouraged worker affect the basic unemployment rate reported in the media? ·      What is frictional unemployment? What is structural unemployment? What is cyclical unemployment? What economic policies should be used to deal with these types of unemployment? Which type is most prevalent in today’s economy? ·      Unemployment insurance is designed to help the unemployed. Do these benefits encourage or discourage a person from looking for work? How long should these benefits last? ·      Does the existence of unions help or hurt the overall economy and the employment rate? Why or why not? Deliverables: Prepare a 5 page Microsoft Word document that addresses the above-noted concerns and meets APA standards. MUST include APA in-text citations MUST MUST MUST Include a summary section in your report that contains 5-7 bullet points identifying your major findings or conclusions of your paper.

The “market system” is often touted as the best mechanism for producing the things that we want to have. Do you think, though, that this is true? Is it always true? More stringently, is it ideal? Are there examples of items that privately-owned markets don’t produce effectively? In other words, do you think the government should play a larger role (or a smaller role) in controlling productive activity in this country? Give supporting reasons and examples, not just opinions! In your subject line, include “Larger Role” or “Smaller Role”.

Special interest groups often cause inefficient programs to be created or funded.  Additionally, these programs are hard to disband once they are created because they establish a constituency to defend the cause.  Identify a special interest group and explain why the group was formed.  Describe some of the influences the group has had on the government. Your response to the prompt you chose above should be at least one paragraph in length (4-5 solid statements that flow well together).  Be sure that you respond to each of the questions asked within the prompt, and provide examples, where applicable. Utilize critical analysis and be sure to provide your rationale within each response along with scholarly, academic writing.

Part 1: Marginal Rate of Substitution   What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitutes one product for another? Use examples to illustrate.   – In 300 words or more, please, provide your response to the above discussion question. Find two goods from your own consumption basket and explain how the MRS changes for the two products as you substitute one for the other.   Part 2: Demand Elasticity   Read the article Hainer, R. (2010). The tobacco industry is a prime example to consider when talking about price elasticity of demand. While nicotine use can be addictive for many users, it is not addictive for the so-called “social smokers”.   What can we say about the price elasticity of demand for nicotine products (such as cigarettes, pipes, tobacco) in the group of nicotine addicted users, versus the group of “social smokers”? Can we say whose demand is likely to be more elastic? Why?   Provide your response to the question in 300 words or more. Further, comment on the effectiveness of government policy aimed at reducing the negative effects of smoking on health. For example, consider high taxation on producers? – is that effective?   Reference:   Hainer, R. (2010). Social smokers aren’t hooked on nicotine, just smoking (http://www.cnn.com/2010/HEALTH/04/24/social.smokers/index.html). Cable News Network. Retrieved from http://www.cnn.com/2010/HEALTH/04/24/social.smokers/index.html

research the issue of healthcare charging and develop a charging policy for a healthcare institution that reflects current market trends, such as the increasing cost of care or tying in quality outcomes with reimbursement. In this policy proposal document, prepare an addendum that addresses: The various methods of establishing this policy, and what was chosen. A percentage increase above cost, usually 150 to 300% of cost. A percentage increase above Medicare on other health plan rate schedules, usually 150 to 300% above fee schedules. What are the various options? Pros and cons of the various options. Explanation of your methodology. Length: 5-7 pages, not including title and reference pages References: Include a minimum of 5 scholarly resources.

use an excel spreadsheet to analyze forecasting performance.  Your company produces and distributes two lines of Consumer External Hard Drives: 1 Terabyte drives (1 Tb) and 5 Terabyte Drives (5 Tb).  The unit sales levels and forecasts for the last two previous years are in the table below.  For this exercise, You have been asked to calculate the Forecast error, Forecast Percentage, Mean percentage Error (MPE) and Mean Absolute Percentage Error (MAPE) for (a) each type of terabyte (b) each year, and (c) for each two-year period.  The concepts, equations, and examples for how to calculate these forecasting effectiveness are covered in your textbook on pages 107 – 114.  Finally, for each set of problems you will provide insight into the sales trends, and forecasting effectiveness with a written summary of your findings.

Write 2-3 paragraphs on the following: Analyze each stage of the business cycle in relation to the Great Depression. You will include in your response a discussion of events prior to the great depression, the depression itself, and events occurring after the Depression. Part of your analysis should include the impact of specific events on each stage of the business cycle.