Eco 205 Week 1

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PRINCIPLES OF ECONOMICS ECO 205 WEEK 1 CHECKPOINT For this week’s Checkpoint assignment, you will identify three unique principles of economics and reference one in each of three articles you will find on Resource: Principles of Economics and Complete question 16 under Problems and Applications in Ch. 1 of Principles of Economics. Find three current articles about the economy on Post a 200- to 300-word response identifying one unique principle for each article. Note: Disregard the last part of question 16, asking you to look at the table of contents. Article #1: What’s mine is yours, May 29, 2009 from The Economist This article focuses on the antitrust policy in America versus Europe. It states there is tension among many who are either to strict with enforcing…show more content…
With many believing that government control over the market was unnecessary, choosing to allow the market to continue was allowing people to profit from the market. People were finding new and interesting ways to increase their financial gain, by just following the increase in sales. I believe this is an example of Principle # 6: Markets are usually a good way to organize economic activity. I believe what has happened recently in the real estate market is an example of market economy at its worst. Banks, loan officers, agents, sellers etc. are all working together to get the most for a particular home. While at the same time, the buyer is sucked into buying this home because everyone else is buying them, that’s what the market says it’s worth. Well, now we see how this market did not help society. It primarily helped the ones inside the circle, for a short time. Now these same people are upside down in their homes, or in a business that does not have the capability to produce the same amount of
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