Economics

Apply and analyze macroeconomic theories and models using a national or global event. This event may be current, historical, political, or social. Find and research at least five academic articles to conduct an analysis. Use articles to write and defend a claim or argument regarding the event. This is NOT a paper about what happened, but about why it happened, how it happened, or what will happen as a result.

Wegmans Food Markets, Inc., is one of the premier grocery chains in the United States. Headquartered in Rochester, New York, Wegmans operates over 70 stores, mainly in Rochester, Buffalo, and Syracuse. There are also a handful of stores elsewhere in New York State and in New Jersey, Pennsylvania, and Virginia. The company employs over 45,000 people, and has annual sales of over $3 billion. Wegmans has a strong reputation for offering its customers high product quality and excellent service. Through a combination of market research, trial and error, and listening to its customers, Wegmans has evolved into a very successful organization. Its sales per square foot are 50 percent higher than the industry average. Questions 1. How do customers judge the quality of a supermarket? 2. Indicate how and why each of these factors is important to the successful operation of a supermarket: a. Customer satisfaction. b. Forecasting. c. Capacity planning. d. Location. e. Inventory management. f. Layout of the store. g. Scheduling. 3. What are some of the ways Wegmans uses technology to gain an edge over its competition?

Consumer behaviour has changed considerably in recent years. At the same time, production capacities for consumer goods have been built up in recent years to meet the constant demand for consumer goods. Technological innovation and stricter global regulations have made products practically safer. However, frequently it happens that products do not meet national and international requirements and thus pose a danger to consumers. The question is how the involved stakeholders deal with the topic product safety. Are our everyday consumer goods safe? Has the awareness of product safety changed over time? Have consumer goods actually become safer as a result of technological innovation?

Write an essay describing the differences between socialism, communism, and free market economies? What are the disadvantages and advantages of each?

Write a report on effects monetary and fiscal policy had on the United States during Great Recession of 2008/2009. The report should factually document the state of the U.S. economy at the peak of the crisis in specific terms such as: Gross Domestic Product (GDP), Inflation, Unemployment, and Interest Rates. It should also factually document the state of the U.S. economy as it is currently utilizing the same metrics. You will be further required to factually document the policies that were implemented, analyze the effect of those policies, and provide an opinion on if the policies will have a lasting effect in continuing to help the U.S. economy rebound.

Briefly discuss the most common mistakes managers make and how they affect economic profit. Support your points with facts.  (Must be at least 350 words. Nothing less!) 

Identify a situation that involves making decisions using expected value, and detail the different options, expectations, and payouts. Discuss the risks involved with those expectations and, if applicable, the payouts. Include in your discussion an explanation of how to determine how much information to gather to minimize uncertainty. Finally, explain which decision should be made. REPLY TO MY CLASSMATE’S RESPONSE TO THE ABOVE QUESTIONS AND EXPLAIN WHY YOU AGREE? (A MINIMUM OF 150 WORDS)CLASSMATE’S POST Before my first year of college, I was working two jobs from 7 am to 11 pm every day. I was making good money for having no free time on my hands. I wanted to save money to buy a good car that could serve me through college. After a good amount of time, I save up a great amount of money to achieve my goal. I considered a couple of factors while going through my summer. Since I had no free time, I did not really have a summer or spent time with many people because I was at work. The opportunity cost would be me deciding to get a great car or any car at the time. My expected payout would be having my car and being able to go wherever I wanted at the time. Also, my payoff in the new car would be great since I would continue to work and be able to upkeep the car. My final decision was made for the long-term purpose and what I wanted to do with the car if I wanted it to survive for college or keep it long term. I continued to work and ended up buying a great car that lasted me.

 .Remember that this a macroeconomics course – your answers must come from the economics we’ve studied. (Drug Market) A survey shows an increase in drug use by young people. In the ensuing debate, two hypotheses are proposed: (1) reduced police efforts have increased the availability of drugs on the streets, and (2) cutbacks in education efforts have decreased awareness of the dangers of drug addiction. Use the model of supply and demand in the illegal drugs market to show how each hypothesis could lead to an increase in the number of drugs consumed. How could information on what has happened to the price of drugs help us to distinguish between these two explanations?

1. Read the article, and answer this question: Think through the three questions in the textbook about a bad decision: 1) Who made the bad decision? 2) Did they have enough information to make a good decision? 3) Did they have the correct incentives to make a good decision? Apply those 3 questions to this scenario and enter your thoughts below. half a page should be enough2. https://youtu.be/I293Ci7FddISometimes it is difficult to understand this, so try to put it in words: why did the threat to punish those that raise prices cause unintended consequences and potentially harm the very people it was trying to help?

Respond to the following in a minimum of 175 words: Innovation and physical capital are 2 of the 4 factors of production. Discuss some specific ways that 1 of the following laws increased the productivity of 1 or both of these factors of production:1862 Pacific Railway Act1956 Federal-Aid Highway Act1946 Federal Airport Act What other examples of economic concentration can you share? What are the risks and advantages of economic concentration? How has economic concentration influenced your industry?