Answer the following questions on microeconomic concepts. The assignment requir

Aug 22nd, 2015
Steve1995
Category:
Other
Price: $35 USD

Question description

Answer the following questions on microeconomic concepts. The assignment

requires you to engage in independent academic research. Your responses

should include source citations and a reference list using the Harvard

Referencing System. All sources used in the preparation of this assignment

should be listed in your reference list.

Please be aware that your answers will be checked for plagiarism using Turnitin.

Your answers should be presented in your own words. Direct quotes should be

used sparingly and referenced appropriately. Please make sure to adequately

paraphrase any sources used to pass the Turnitin evaluation.

Word total for all questions should be between 2500 and 3000 words

Question 1 (30%) (750-1000 words)

Since the recent Great Recession of 2007-2009, there has been increasing

disillusionment with the free market system. Briefly define “free market system” and

identify and describe at least three of its major concepts or attributes. Then, critically

analyze the view that the free market system is the best and only realistic alternative for

determining the allocation of resources in an economy. Provide evidence to support

your analysis.

Question 2 (20%) (300-500 words)

Every society, regardless of its wealth and power, must make certain choices

about production and distribution. Specifically, every society faces three basic

economic decisions:

What goods and services to produce and in what quantities?

How to produce these goods and services, or how to use the economy's

resources?

Who gets these goods and services

Briefly explain how these questions are answered in your country. How does the

availability of resources in your country influence the economic decisions fo individuals,

organizations, and government?

Question 3 (50%) (1250-1500 words)

Evaluate the economic efficiency of different market structures and their effect on

consumers. To answer this question:

1. Explain market efficiency

2. Identify and distinguish between the different types of market structures;

compare and contrast the similarities and differences between their

characteristics

3. For each market structure, provide an industry example and evaluate the

economic efficiency of each (market structure) and the effect of each (market

structure) on the industry’s consumers.


Tutor Answer

(Top Tutor) Daniel C.
(997)
School: Rice University
PREMIUM TUTOR

Studypool has helped 1,244,100 students

8 Reviews


Summary
Quality
Communication
On Time
Value
pmallory
Dec 6th, 2016
" Totally impressed with results!! :-) "
mixedballz
Nov 27th, 2016
" excellent work as always thanks for the help "
Five Star Tutor
Nov 23rd, 2016
" Outstanding Job!!!! "
kiln82
Nov 13th, 2016
" awesome work thanks "
darnay
Nov 4th, 2016
" The best tutor out there!!!! "
likeplum4
Oct 31st, 2016
" Excellent work as usual "
kpcutie
Oct 8th, 2016
" Excellent job "
Joemoe
Sep 29th, 2016
" <3 it, thanks for saving me time. "
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1823 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors