Policies established by t

Policies established by the World Bank and the IMF have been the subject of much criticism, especially from the developing world. Why might developing world nations be critical of these policies? Do you think the policy actions are justified? Explain.

You just opened a flower

You just opened a flower shop and are trying to understand pricing issues. You were told that elasticities are very important in determining prices and what products to supply, so you decide to investigate this concept. You call your friend, an economics professor, and ask, “What is the price elasticity […]

Scarcity is the main reas

Scarcity is the main reason we are studying economics. Scarcity exists when human wants exceed available resources. Write a four paragraph post that explains the difference between a want and a need? Please give five examples for each of these two concepts. Explain the rationale that dictates your choice

Critically analyze the pr

Critically analyze the pros and cons of putting a price ceiling on prescription medicine. Make sure to use concepts from both chapters seen this unit such as government intervention, inefficiencies, price elasticity, etc. in your answer. In the first case, assume the medication is for a life threatening illness for […]

Critical Thinking: Human

Critical Thinking: Human beings are odd creatures. We can predict the negative consequences of certain actions, and yet, we proceed with those actions. If people were logical and thought long term, no one would eat more doughnuts than fruit, no one would start smoking, no one would fail to save […]