Identifying Principles or Concepts After completing the “Applying Supply and Demand Concepts” simulation the following concepts and principles were identified: demand and supply along with equilibrium as microeconomic principles, and shifts in demand and supply along with price ceiling as macroeconomic concepts. The previous concepts were identified accordingly because microeconomics analyzes from the parts to a whole; therefore, supply and demand and equilibrium as the small parts that affect the whole. In contrast macroeconomics analyzing from the whole to the parts reflects how the concepts of price ceiling and shifts in demand and supply are larger outside factors that affect the smaller internal parts. Supply and Demand Curve Shifts In the simulation there were multiple examples reflecting shifts in the demand curve as well as shifts in the supply curve. For any supplier, a higher price is an incentive to supply more; therefore, as rental rates increased, the number of apartments GoodLife was willing to lease also increased.
Explain the viewpoints of classical and Keynesian economists. How did the economy that existed at the time of these theories influence them? Which theory is more appropriate for the economy today? Why? Explain the viewpoints of classical and Keynesian economists.
Discuss the role and impacts of TNCs in the global economy An economy is the activities related to the production of goods and services within a given geographic location and this network can exist on a local or national scale. However through country’s economies interacting during the trading of goods and services, an international and global economy is present. A transnational corporation (TNC) is a company that operates and has the power to coordinate and control economic operations in more than one country. They are often found to have their headquarters in their country of origin, most commonly the UK, USA, Germany and Japan, and their manufacturing, research and development plants situated in other parts of the world, such as India and China. For example GlaxoSmithKline, which was founded in 2000, with its headquarters in Brentford in the UK and other sites located in Shanghai and Quebec.
However, in theory each individual field holds its own place of importance. The complete universal effect of each one of these categories varies greatly. The overall effects of production, supply and demand rely on individual-spending, community and group involvement, corporate servicing and the global business. One of the safest ways to analyze future investments means looking back at prior financial investments. Historical data enables investors’ ability to decide what market trends require what level of attention.
A government tax and spend plan is its fiscal policy. All business cycles go through phases. The length and intensity for each business cycle differs from one company to the next. Many economists believe different things about the ups and downs (peaks & troughs) of a business cycle. One thing we can be sure of is that a business cycle affects different sectors of our community in different ways.
Monetary policies have different effects on an economy’s production and employment. The Purpose and Function of Money According to Hubbard and O’Brien (2010), the economic definition of money is any asset that people are willing to accept in exchange for goods or services. An asset is something owned by a firm or individual (Hubbard
The NBER’s Business Cycle Dating Committee maintains a chronology of the U.S. business cycle. The research distinguishes the dates of peaks and troughs that frame economic recession or expansion. The period from a peak to a trough is a recession and the period from a trough to a peak
Economic Critique Learning Team E ECO/ 372 1/14/2013 Robert Watson Economic Critique Learning Team E is a group of international reporters. We have been tasked with describing and critiquing the current state of the U.S. economy. Unemployment, expectations, consumer income, and interest rates are some of the economic factors that describe the current state. We shall share some of the U.S. governments, current state of aggregate supply and demand. In addition, we will identify the fiscal policies that are currently being recommended by government leadership and see how it has experienced many changes over the years, as we looked at the perspectives of Keynesian, and Classical models and how they influenced citizens and government.
C11 - Macroeconomics Introduction to macroeconomic analysis and policy. Examination of the foundation and nature of economic principles as they apply to national output, money and banking, and monetary and fiscal policy. Course also focuses on employment, inflation, and economic growth. C13 - Microeconomics Introduction to microeconomics, with emphasis on the functioning of individual markets and their effectiveness for resource allocation. Includes price and production theory, competition, labor, the distribution of income, and the theory of household behavior.
What signs do you see that others are being affected by global, economic, and social influences? Environmetal effects: * Competitive * Distributive * Economic * Socioeconomic * Financial * Physical/Geographic * Political / Legal * Sociocultural * Labor * Technological What signs do you see that others are being affected by global, economic, and social influences? A) economic/ finance: The Economic / Financial environment includes considerations such as the GDP Gross Domestic Product