Ten principles of economics and how markets work

Please no Plagiarism

As part of a marketing research committee for your organization, you have been assigned the task of preparing a 700-word research paper about current microeconomic thought and theory.

Use Principles of Microeconomics, Chs. 1, 2, 3, 4, 5, and 6, as the source for all your information. (Chapters attached )

Identify the fundamental lessons the Ten Principles of Economics teach about:

  • How people make decisions
  • How people interact
  • How the economy as a whole works

Explain 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
  • Where is the point of equilibrium and what does it determine?
  • The impact of price controls, taxes, and elasticity on changes in supply, demand and equilibrium prices

Format consistent with APA guidelines.

"We Offer Paper Writing Services on all Disciplines, Make an Order Now and we will be Glad to Help"
0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published.