The Key Concepts in Economics,(3-4) page, economics homework help

timer Asked: May 27th, 2016
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Question Description

Write a three to four (3-4) page paper in which you:

  1. Identify at least four (4) key points of a relevant economic article from either the Strayer Library or a newspaper. The article must deal with any course concepts covered in Weeks 1-8.
  2. Apply one (1) of the following economic concepts (supply, demand, market structures, elasticity, costs of production, GDP, Unemployment, inflation, aggregate demand, and aggregate supply) to the key points that you highlighted in Question 1.
  3. Explain how the concept that you identified in Question 2 could affect the U.S. economy.
  4. In your concluding paragraph, state whether you agree or disagree with the economic article identified in Question 1. Provide a rationale for the response.
  5. Use at least three (3) quality resources in this assignment with one (1) being your article.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

  • Analyze the dynamics of supply and demand to anticipate market equilibrium.
  • Analyze the elasticity of demand and supply and its importance, and the effect of taxes or other public policies.
  • Describe the impact of various forms of competition on business operations with emphasis on perfect competition.
  • Use technology and information resources to research issues in principles of economics.\

Tutor Answer

School: UC Berkeley


Student’s Name


The Key Economic Concepts
Global competition and puny economy have made development with more demanding
than ever amid some like Apple, Starbucks and Amazon seem to resist the laws of Key models of
Economics gravity. The U.S economy has also shown numerous signs of encouraging growth
and development for the last five years. As we recognize that U.S was undergoing recession
since 2007-08, afterward the economy went nearly into a slump. The broadest assess of
economic growth, GDP expansion rate also dropped at a very lowly point around 1% and then
came down to about 2.9% last year. It was the major drop ever calculated in the economic
development ever since the World War II. If we contrast the existing economic statistics such as
interest rate, unemployment and inflation rates with the one of the five years ago statistics, we
can after that measure the major changes that occurred in the five years. It has been noted that
the consumption interest rate was approximately 0% to 0.25% in the year 2010 which maintains
almost similar in...

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