Microeconomics

The economic analysis of a policy is used to assess the macroeconomic and microeconomic ramifications of the policy and analyze the opportunity costs. The macroeconomic view of the policy is how it affects the economy as a whole, including output, income, inflation, and unemployment. The Individuals with Disabilities Education Act (IDEA) would mostly affect the economy through unemployment. One of the purposes of IDEA is to help students transition out of school and successfully find employment.…

concepts in economic climate. In microeconomic, the supply and demand are a specific goods or services between individual buyers and sellers, while the supply and demand in macroeconomics are discussed in terms of all goods and services at a level of nation or region. The supply and demand simulation provided an example of the market conditions by an apartment management company in the city of Atlantis that is impacted with numerous economic factors. The microeconomic concepts can be classified…

There I am walking to my advanced placement microeconomics class, dreading entering the classroom. As I walk in and sit down at my usual seat, I wonder if it’s still too late to drop this class. It is too late unfortunately, but the thought still crosses my mind every time I would be in that class. After the last bell rings signifying that class will be starting, the teacher surprises us with a pop quiz. All ten students in the class groan, but reluctantly take the quiz because, well we have no…

Demand Simulation indicated how critical the laws of supply and interest are in a business setting. The recreation was around a loft administration organization in the city of Atlantis that was affected by different macroeconomic and microeconomic issues. Microeconomic issues comprised of supply and request, furthermore balance. Macroeconomic issues where the value versatility and value roofs in Atlantis. These issues are very much alike in my calling working for different nation clubs. The…

In the article ‘Boulder-based company to pay for retaliation”, written by Erica Tinsley from 9 News, tells of how an employee was terminated for questioning the safety of some of the equipment in the location. This was a violation of the employee’s labor rights and Occupational Safety and Health Administration (OSHA) was there to help the employee. The company was to pay $125,000 to their former employee because of their violation of the Consumer Product Safety Improvement Act. When reading this…

1. What is the difference between micro and macroeconomics? Give an example of a microeconomic phenomenon and an example of a macroeconomic one. A) The difference between micro and macroeconomics is that microeconomics deals with how individuals and firms make decision in the face of scarcity and the impacts of the decision on the market. Hence, microeconomic focus on a part of the economy of a country. While macroeconomics deals with how a nation makes a decision in the face of scarcity and…

Microeconomics and Minimum Wage Henry C. McRoberts III Embry-Riddle Aeronautical University Abstract Throughout the years, there has been much deliberation about minimum wage. Most discussion speaks on businesses that employ untrained labor and see their profit borders diminish due to expense growth, or employees not capable of sustaining income in today’s economy. This presents a challenge to their economic growth and introducing a new adjustable to economic decision-making. Through…

Economics Assignment -1- Human Action Describe 1000 words Nature of economics, praxeology and the general theory of human action, consider the use of thought experiments, the theory of value and time factor. Economics is the study of human action and how to manage the limited resources to fulfill unlimited wants of humans. It is also social science that analyses the choice for sharing limited resources. In economy, there are goods and services, production, consumption and so on. In real…

Firms use the many price discrimination techniques one of them is called 2-part tariff which capture all or most of the consumer surplus, in a monopolistic market. Consumer surplus is the difference between the consumer willingness to pay for a good, compared to the total amount the consumer actually pay. Furthermore, firms have to adjust their 2-part tariff pricing according to the type of consumer demand present in the market. A 2-part tariff is a second-degree price discrimination technique…

I am not finished becoming the individual that I will one day be. In this past year, my personal character has developed exponentially and particular traits and strengths of my character have become evident. My first year of college taught me more about myself than the entirety of my youth had previously taught me. It taught me that given any task or challenge, if I put my mind to it and commit myself, I possess the work-ethic and persistence to perform whatever it takes to accomplish the task…