Description
Of the three functions of money, which one do you feel is most important to you and why? Of the three functions which one do you feel is most important to the U.S. economy and why. Finally, of the three functions, which one do you feel is most important for the global economy and why?
Do you feel a barter system would work for you personally, for the U.S. economy, or for the global economy?
No copying about 350 words
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.
Explanation & Answer
Review
Review
Anonymous
Just what I needed…Fantastic!
Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4
24/7 Homework Help
Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!
Most Popular Content
Analytical Skills and Process Improvement Model Economics Essay
There are 2 questions :First question : In a single Word document, minimum 5 full pages (not including cover page and c ...
Analytical Skills and Process Improvement Model Economics Essay
There are 2 questions :First question : In a single Word document, minimum 5 full pages (not including cover page and citations), using appropriate APA, research the process of optimizing operational yield and discuss your findings. Provide examples and charts, etc., as need to support your research.Second question : In a single Word document, minimum 7 full pages (not including cover page and citations), using appropriate APA, answer the following questions using the attached pdf. 1. Identify the most important elements in this case study.2. Identify the key issue or issues one must consider when creating a strategic plan.3. How would you use use this case study to solve an operational problem. Identify the problem and discuss your solutions and recommendations?4. Building on your response to question 3, create and insert a process improvement model (using actual or fictional data) that optimizes operational yield. To demonstrate effective analytical skills, explain how you would communicate your results to senior leadership.
3 pages
Reflection Econ2
In the midterm semester, I have learned different ideas and topics vital in my professional development and use in the fut ...
Reflection Econ2
In the midterm semester, I have learned different ideas and topics vital in my professional development and use in the future. Some of the topics that ...
ADM 626 Grand Canyon University Budgeting Is Not a Scientific Activity Discussion
The budget is arguably the most important policy decision elected officials make. WhyDiscussion Question 1(150 words)The t ...
ADM 626 Grand Canyon University Budgeting Is Not a Scientific Activity Discussion
The budget is arguably the most important policy decision elected officials make. WhyDiscussion Question 1(150 words)The textbook says, “Budgeting is not a scientific activity” and is instead a craft. Why? ( Discussion question 2) 150 words
ECO 6150 California Miramar University Economics of Information Discussion
Topic: Economics of information
Give a couple of examples for cases with 'asymmetric information'. What happens in markets ...
ECO 6150 California Miramar University Economics of Information Discussion
Topic: Economics of information
Give a couple of examples for cases with 'asymmetric information'. What happens in markets with asymmetric information?
PROFESSOR'S GUIDANCE FOR THIS WEEK'S LE:
Asymmetric information is an interesting nonetheless not too uncommon situation that parties involved in a transaction do not have the same information regarding that trade. This has implications for such markets that we are seeking.
1. Please make sure that you read the relevant chapter from the textbook
2. Watch the YouTube videos for this week and additional course material provide
Grading Rubric and Standards
6 pages
Budgeting Challenges.edited
Joseph Miller founded the Miller Building Supplies Company in Glen Burnie after the Korean War, and since then, the compan ...
Budgeting Challenges.edited
Joseph Miller founded the Miller Building Supplies Company in Glen Burnie after the Korean War, and since then, the company developed to be famous in ...
ECON195 week two macroeconomics part of portfolio project.
Directions
Each week, you will view a video that shows how to plot data in Excel. The video provides “how to do” the v ...
ECON195 week two macroeconomics part of portfolio project.
Directions
Each week, you will view a video that shows how to plot data in Excel. The video provides “how to do” the various parts in each problem and should only be used as a guide in completing each problem. Upon viewing the video, use the following Excel template to complete your response to each problem and submit.Make sure you incorporate the feedback from your instructor that you receive each week into your final version.
Click the link below for the Excel template:
https://www.youtube.com/watch?v=w-R4BDNxSLU
Week 2: Market Forces of Supply and Demand on: Surplus and Shortage
Problem #1
Due Date: Due by the end of Week 2 at 11:59 pm, ET.
In any market, demand is used to study the behavior of buyers, and supply is used to study the behavior of sellers and producers. In order to study the behaviors of buyers and sellers, you will use the beans market for your Portfolio Project to determine the market demand and market supply.
Demand and supply curves explain the relationship between price and quantity. Because there is a law that guides market demand and supply, the demand and supply curve shifts. This law of demand and supply assumes that every factor that affects market demand and market supply, other than price, is constant. Factors that are held constant for market demand are: income, price of related good, tastes, expectations, and number of buyers. For supply market, they are: input prices, technology, expectations, and number of sellers.
In Problem #1, you need to plot graphs in Excel to show how the demand and supply curve shifts when quantity increases or decreases at given prices.
Supply and Demand: The Beans Market
View this video to complete the problem below: https://www.youtube.com/watch?v=w-R4BDNxSLU
Answer the questions below by using the following schedule for the beans market:
Table 1 Data for Problem 1
Price
Quantity Demanded
Quantity Supplied
$5
50
20
$6
45
25
$7
40
30
$8
35
35
$9
30
40
$10
25
45
$11
20
50
$12
15
55
Part A: Use the Excel template to graph the demand and supply curves based on the values given in the Table 1. Properly label and format the graph.
Part B: Assume that the quantity demanded for beans rises by 30 million pounds per month for specific given price. Compute the change in demand. Plot the initial demand and supply curves on a single graph based on given values in the above table. Add the new demand curve to the graph given by this change.
Part C: Relative to the values given in the above table, let’s assume that the quantity demanded falls by 30 million pounds per month between $5 and $10 per pound; between $10 and $12 per pounds, and the quantity demanded become zero. Plot initial the demand curve given by this change on a single graph. Graph the new demand curve given by this change.
Part D: Assume that the quantity supplied for beans rises by 30 million pounds per month for specific given price, at the time the value for quantities supplied remain the same as shown in the table above. Plot initial demand and supply curves on a single graph based on given values in the above table. Graph the new supply curve given by this change.
Part E: Relative to the values given in the table above, let’s assume that, the quantity supplied falls by 30 million pounds per month at prices above $8, at a price of $8 or less per pound and the quantity supplied becomes zero. Plot the initial demand and supply curves based on the values given in the table above and new supply curve given by this change on a single graph.
PART B
In your own words and from your learning, how can market forces of supply and demand affect interest rates and the economy.
Similar Content
Colorado Technical University Online Ethical Standards Discussion
Response GuidelinesRespond to the post of at least one of your peers. Ask questions that will help you better understand t...
Arizona State University National Center Biotechnology Information Discussion
Part I - (this draws on opportunity cost (Ch 1) and markets (Ch 3))
Describe the market for kidney organs, as it wo...
ECON 202 Wk 4 American Public University System Governemt Debt Discussion
InstructionsDuring the Great Recession, like any other economic downturns, as unemployment rises, aggregate income decline...
microeconomics , economics homework help
please see the file attached and let me know if you now if you can do it ? ...
JWI 515 Strayer Univeristy Industry and Company Analysis Paper
JWI 515: Managerial Economics
Academic Submissions and Evaluation
Assignment 4: Industry and Company Analysis (Weight: 25%...
ECON140 University of California Irvine Basics of Managerial Economics Essay
Choose any topic discussed in the managerial economics class and write a 3 – 5 page essay with the following specificati...
Economy Of Italy.edited
An economy of a country is a system that indicates the health of a nation by determining how people get their living in th...
Riyadh Traficcc
This subject can be viewed from a variety of economic viewpoints, each of which offers a unique perspective. The opportuni...
Macroeconomics Assignment 3
1. Explain the effects of low price-guarantee on the price Smaller, local firms may provide lower price assurances than la...
Related Tags
Book Guides
Get 24/7
Homework help
Our tutors provide high quality explanations & answers.
Post question
Most Popular Content
Analytical Skills and Process Improvement Model Economics Essay
There are 2 questions :First question : In a single Word document, minimum 5 full pages (not including cover page and c ...
Analytical Skills and Process Improvement Model Economics Essay
There are 2 questions :First question : In a single Word document, minimum 5 full pages (not including cover page and citations), using appropriate APA, research the process of optimizing operational yield and discuss your findings. Provide examples and charts, etc., as need to support your research.Second question : In a single Word document, minimum 7 full pages (not including cover page and citations), using appropriate APA, answer the following questions using the attached pdf. 1. Identify the most important elements in this case study.2. Identify the key issue or issues one must consider when creating a strategic plan.3. How would you use use this case study to solve an operational problem. Identify the problem and discuss your solutions and recommendations?4. Building on your response to question 3, create and insert a process improvement model (using actual or fictional data) that optimizes operational yield. To demonstrate effective analytical skills, explain how you would communicate your results to senior leadership.
3 pages
Reflection Econ2
In the midterm semester, I have learned different ideas and topics vital in my professional development and use in the fut ...
Reflection Econ2
In the midterm semester, I have learned different ideas and topics vital in my professional development and use in the future. Some of the topics that ...
ADM 626 Grand Canyon University Budgeting Is Not a Scientific Activity Discussion
The budget is arguably the most important policy decision elected officials make. WhyDiscussion Question 1(150 words)The t ...
ADM 626 Grand Canyon University Budgeting Is Not a Scientific Activity Discussion
The budget is arguably the most important policy decision elected officials make. WhyDiscussion Question 1(150 words)The textbook says, “Budgeting is not a scientific activity” and is instead a craft. Why? ( Discussion question 2) 150 words
ECO 6150 California Miramar University Economics of Information Discussion
Topic: Economics of information
Give a couple of examples for cases with 'asymmetric information'. What happens in markets ...
ECO 6150 California Miramar University Economics of Information Discussion
Topic: Economics of information
Give a couple of examples for cases with 'asymmetric information'. What happens in markets with asymmetric information?
PROFESSOR'S GUIDANCE FOR THIS WEEK'S LE:
Asymmetric information is an interesting nonetheless not too uncommon situation that parties involved in a transaction do not have the same information regarding that trade. This has implications for such markets that we are seeking.
1. Please make sure that you read the relevant chapter from the textbook
2. Watch the YouTube videos for this week and additional course material provide
Grading Rubric and Standards
6 pages
Budgeting Challenges.edited
Joseph Miller founded the Miller Building Supplies Company in Glen Burnie after the Korean War, and since then, the compan ...
Budgeting Challenges.edited
Joseph Miller founded the Miller Building Supplies Company in Glen Burnie after the Korean War, and since then, the company developed to be famous in ...
ECON195 week two macroeconomics part of portfolio project.
Directions
Each week, you will view a video that shows how to plot data in Excel. The video provides “how to do” the v ...
ECON195 week two macroeconomics part of portfolio project.
Directions
Each week, you will view a video that shows how to plot data in Excel. The video provides “how to do” the various parts in each problem and should only be used as a guide in completing each problem. Upon viewing the video, use the following Excel template to complete your response to each problem and submit.Make sure you incorporate the feedback from your instructor that you receive each week into your final version.
Click the link below for the Excel template:
https://www.youtube.com/watch?v=w-R4BDNxSLU
Week 2: Market Forces of Supply and Demand on: Surplus and Shortage
Problem #1
Due Date: Due by the end of Week 2 at 11:59 pm, ET.
In any market, demand is used to study the behavior of buyers, and supply is used to study the behavior of sellers and producers. In order to study the behaviors of buyers and sellers, you will use the beans market for your Portfolio Project to determine the market demand and market supply.
Demand and supply curves explain the relationship between price and quantity. Because there is a law that guides market demand and supply, the demand and supply curve shifts. This law of demand and supply assumes that every factor that affects market demand and market supply, other than price, is constant. Factors that are held constant for market demand are: income, price of related good, tastes, expectations, and number of buyers. For supply market, they are: input prices, technology, expectations, and number of sellers.
In Problem #1, you need to plot graphs in Excel to show how the demand and supply curve shifts when quantity increases or decreases at given prices.
Supply and Demand: The Beans Market
View this video to complete the problem below: https://www.youtube.com/watch?v=w-R4BDNxSLU
Answer the questions below by using the following schedule for the beans market:
Table 1 Data for Problem 1
Price
Quantity Demanded
Quantity Supplied
$5
50
20
$6
45
25
$7
40
30
$8
35
35
$9
30
40
$10
25
45
$11
20
50
$12
15
55
Part A: Use the Excel template to graph the demand and supply curves based on the values given in the Table 1. Properly label and format the graph.
Part B: Assume that the quantity demanded for beans rises by 30 million pounds per month for specific given price. Compute the change in demand. Plot the initial demand and supply curves on a single graph based on given values in the above table. Add the new demand curve to the graph given by this change.
Part C: Relative to the values given in the above table, let’s assume that the quantity demanded falls by 30 million pounds per month between $5 and $10 per pound; between $10 and $12 per pounds, and the quantity demanded become zero. Plot initial the demand curve given by this change on a single graph. Graph the new demand curve given by this change.
Part D: Assume that the quantity supplied for beans rises by 30 million pounds per month for specific given price, at the time the value for quantities supplied remain the same as shown in the table above. Plot initial demand and supply curves on a single graph based on given values in the above table. Graph the new supply curve given by this change.
Part E: Relative to the values given in the table above, let’s assume that, the quantity supplied falls by 30 million pounds per month at prices above $8, at a price of $8 or less per pound and the quantity supplied becomes zero. Plot the initial demand and supply curves based on the values given in the table above and new supply curve given by this change on a single graph.
PART B
In your own words and from your learning, how can market forces of supply and demand affect interest rates and the economy.
Earn money selling
your Study Documents