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MBA FP 6008 McAndrewVanessa Assessment1 Attempt1

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Running Head: ECONOMIC ANALYSIS 1
Economic Analysis 1
Vanessa McAndrew
MBA- FP 6008 U01A1 Possibilities: Economic Analysis 1
Capella University
Professor Dr David Wolfe
February 27, 2018

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ECONOMIC ANALYSIS 2
Economic Analysis
Introduction
Economics has been the subject of many studies over time, with the same proposing
acceptable definitions of the term economics. However, the universally accepted definitions tend
to acclaim the vital elements of the phenomenon, being the forces of supply and demand. The
correlation and dynamics surrounding the behavior of the two elements within a particular
jurisdiction therefore constitute the economics of the said area. Further, there are other factors
that dictate the study and behavior of the economics of the said area, for instance individual and
governmental interactions, the dynamics surrounding the production of goods as well as the
forces affecting the production of goods in the said market in relation to the consumption of the
said goods.
Study 1: graphical illustration and analysis
Problem A
Type of
production
Alternative
A
Alternative
B
Alternative
C
Alternative
D
Alternative
E
Butter
0
1
2
3
4
Guns
15
14
12
9
0

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Running Head: ECONOMIC ANALYSIS Economic Analysis 1 Vanessa McAndrew MBA- FP 6008 U01A1 Possibilities: Economic Analysis 1 Capella University Professor Dr David Wolfe February 27, 2018 1 ECONOMIC ANALYSIS 2 Economic Analysis Introduction Economics has been the subject of many studies over time, with the same proposing acceptable definitions of the term economics. However, the universally accepted definitions tend to acclaim the vital elements of the phenomenon, being the forces of supply and demand. The correlation and dynamics surrounding the behavior of the two elements within a particular jurisdiction therefore constitute the economics of the said area. Further, there are other factors that dictate the study and behavior of the economics of the said area, for instance individual and governmental interactions, the dynamics surrounding the production of goods as well as the forces affecting the production of goods in the said market in relation to the consumption of the said goods. Study 1: graphical illustration and analysis Problem A Type of Alternative Alternative Alternative Alternative Alternative production A B C D E Butter 0 1 2 3 4 Guns 15 14 12 9 0 ECONOMIC ANALYSIS 3 Assumptions underlying the production possibilities curve Based on the graphical illustration contained above, there are three specific assumptions that underlie the curve above, being the production possibility curve. The first assumption is that there is a steady incr ...
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