Ten Principles of Economics and How Markets Work

MUST BE NEW AND ORIGINAL WORK NOT GIVEN TO OTHER STUDENTS.
Write in a clear, concise, and organized manner; demonstrate ethical scholarship in the accurate representation and attribution of sources; and display accurate spelling, grammar, and punctuation. Include citations in the text and references at the end of the document in APA format.PLEASE READ INSTRUCTION CAREFULLY. IN TEXT CITATION AND MUST CITE ALL REFERENCE IN APA FORMAT–ORIGINAL WORK ONLY
In Week 1, students are introduced to the ten fundamental principles on which the study of economics is based. Throughout this course, the students will use these ten principles to better develop their understanding of economics and how society manages its scarce resources. Students will see how markets work using supply and demand for a good to determine both the quantity produced and the price at which the good sells. The concepts of equilibrium and elasticity are used to explain the sensitivity of quantity supplied and quantity demanded to changes in economic variables. Students will see how government policies impact prices and quantities in markets.
Principles of Microeconomics, Ch. 1, 2, 3, 4, and 6. ((Please refer to this readings for this paper))
an
800
-word research paper as part of a marketing research committee for your organization about current microeconomic thought and theory.
the fundamental lessons the Ten Principles of Economics teaches regarding:
How people make decisions
How people interact
How the economy works as a whole
the following to help the committee members understand how markets work:
How society manages its scarce resources and benefits from economic interdependence.
Why the demand curve slopes downward and the supply curve slopes upward. The impact of price controls, taxes, and elasticity on changes in supply, demand and equilibrium prices.
Where the point of equilibrium is and what does it determine?
consistent with APA guidelines.
Name the Paper as specified in the Instructor Policies.
Submit WritePont report and TurnItIn report.
Student identifies the fundamental lessons the Ten Principles of Economics teaches about:
a. How people make decisions
b. How people interact
c. How the economy works as a whole
Student explains how society manages its scare resources and benefits from economic interdependence.
Student explains why the demand curses slopes downward and the supply curve slopes upward.
Student explains where the point of equilibrium is and what it determines.
Student explains the impact of price controls, taxes, and elasticity on changes in supply, demand and equilibrium prices.
The paper is 700 words in length.
#/5
Student has followed assignment naming convention specified in the Instructor Policies
Student has submitted WritePoint and TurnItIn reports
#/2
#/
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