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...Weekly Reflection Ruben I. Torres, Jr., Cheyenne Blue, Marsha Scott, Catherine Caughrean ECO 365 2-20-13 Dr. Lin Weekly Reflection In week one on ECO 365 our team discussed the many different areas which create economics in the modern world. The objectives were clearly outlined in the syllabus which Dr. Lin provided to Team A. Differentiate between Macroeconomics and Microeconomics The first objective we discussed was the difference between Macro and Micro economics. Since both studies deal with the economic decision making process, the one aspect which separates them would be that Microeconomics is the study of economics from the view point of a firm or individuals. Macroeconomics is the study of economics from the view point of a society or nation. This aspect would study the budget or a government or GDP of a nation. Supply and Demand The second area which we discussed was the effects of supply and demand. It was nice to get a better idea on how the costs of goods are affected by the amount of goods available for distribution at any given period. By studying the buying trends of individuals, companies are able to control the price and the supply of goods for consumers. If a company wishes to charge an outrages price for a product and have consumers pay the amount, they simply produce a low quantity of the product. A good example of this would be the way Sony released the new Playstation 3 (PS3). When the PS3 system first came...
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...steps that can be taken to protect the environment. Nature continues to be the most precious resources deserving of our protection and preservation. Nature has been entrusted into man’s care therefore everyone has the responsibility to help keep it healthy and safe. Ironically, nature has been abused at the hands of its protector. No one should feel exempt from preserving nature or taking our life source for granted. Since nature is essential to everyone is seems senseless, almost moronic that man handles this precious commodity so carelessly. Without nature all it lost. Taking care of nature is no small task especially since society has been very neglectful, however there are measures that can be taken to correct mistakes made. In “Eco-Defense” the writer talks about how our government has become an entity of greed selling to the highest bidder and that bidder is the industrial and commercial companies (Abbey 348-349). These companies are waging a war against nature for the sake of financial point. Edward Abbey suggested that man should treat nature as if it were personal private property being assaulted in need of protection (Abbey 348-349). There are articles published in the media on a daily basis trying to get the American people to do their part in protecting the environment. The landfills are over flowing with plastic cups, plastic bottles and plastic...
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...Mergers and Joint Ventures ECO/365 Microeconomics May, 8 2015 Mergers and Joint Ventures As a team, we learned about the different types of mergers and the differences between them. We also discussed how they differ from a joint venture. Different types of mergers We will start with the first type of mergers, which is Horizontal Merger. In a Horizontal Merger, pair of companies in the same industry that sell the same stuff or services combine their businesses together. This is the most common type of merger and is usually tends to occur in industries that are not very competitive. By combining businesses, they are able to save money in certain areas like double advertisement cost. The next type of merger is Vertical Merger. In a Vertical Merger, again, a pair of companies combines businesses but the difference from a Horizontal Merger is that these companies sell and make different products or services but each one contributes to a single final product. These types of mergers usually occur in assembly line type businesses like automotive for example. When the companies merge together to produce a final product they can find ways to help cut production cost and sometimes even material costs. Now we will talk about a Conglomerate Merger, this is when two or more company’s combine, and these companies are involved in totally unrelated types of business activity. Although, there are two different types of Conglomerate Mergers and they...
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...Learning Team Reflection ECO/365 Learning Team Reflection Week three with its emphasis on market structure provided some areas of greater understanding than the previous week's focus on production and cost analysis. The topics of comfort increased and it seemed that more of the team members agreed with their areas of understanding. While some of the topics did provide a mild amount of difficulties in understanding, it certainly can be seen how the subject matter learned through the team paper has a direct relationship with our career fields. The discussion topic that focused on competition between companies in today’s modern economy provided a topic that was found to be more comfortable among some of our team members. It was easier to understand because of how economists classify the four markets into perfectly competitive, monopoly, monopolistic, and oligopolistic. It further helped to understand this topic through an example of classifying our own companies into one of the four markets. The subject that our team struggled with this week was that of analyzing how revenue decisions change depending on market structures. The reason this topic was confusing was due to the levels of competition in each particular market. After reviewing the material presented in class, we were able to understand that organizations with less competition and more of a monopoly in a particular area are typically more regulated than those with higher competition. This week's team...
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...Library Activity – Article Analysis U.S. Coffee Consumption Patterns ECO/365 Principles of Microeconomics September 30, 2013 | TOTAL |100% | |CONTENT (70%) |70.0% | |MECHANICS (30%) |30.0% | |FINAL GRADE (100%) |100.0% | |Grade (6-points) |6 | |Days late |0 | |Penalty |0% | |Updated Grade |6 | U.S. Coffee Consumption Patterns The article “U.S. Coffee Consumption Patterns” selected for this assignment was found in the University Library website using the keywords; Trends in consumption patterns, coffee. According to the U.S. Coffee Shop Market report recently published by Mintel Consumer Intelligence, two-thirds of respondents drink coffee away from home at least occasionally. Driving coffee shops' success is consumer demand for quality and convenience. Fifty-eight percent of respondents who regularly buy coffee at a coffee shop said coffee shops offer better quality coffee. However, only one-third of all respondents said they think coffee shops sell better coffee than those of their competitors. As for convenience, only 37 % of consumers who purchase their coffee at coffee shops instead of brewing it at home normally go to the closest coffee shop. The research conducted to find this article is as follows; I researching the University Library, selected EBSCOhost...
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...Week 1: Microeconomics and the Laws of Supply and Demand ECO/365 – Principles of Microeconomics 3/23/2015 Instructor: Microeconomics and the Laws of Supply and Demand The Supply and Demand simulation was to act as GoodLife Management property manager for a fictional town, Atlantis. This company manages about seven apartment complexes in the town of Atlantis. In this simulation the property manager was in charge in adjusting the monthly rental rate of GoodLife’s two-bed rental apartments as well as the quantity of apartments supplied based on the market trend. Many factors, such as personal preferences, income, economy, and rental rates influence the supply and demand for apartments. The ratio of vacant and occupied apartments is affected by each of these factors. A carful evaluation is vital when making decisions about supply, demand, and price, as well as a regular monitoring in order to remain competitive in the rental market. The first simulation had the objective of determining the two-bedroom apartments’ monthly rental rate for on provisional leases. Therefore, the rate for vacancy should be decreased to at least less than 15%, while the revenue should be maximized. When the rental rate of the apartments decreased and the demand increased, the vacancy rate decreased as a result. The simulation showed that as the rental rate is lowered the initial revenue increased, and reaching a maximum point at a specific rental rate. This then made the demand decrease. The solution...
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...Week One Article Analysis ECO/365 January 16, 2012 Week One Article Analysis David Colander defines economics as "the study of how human beings coordinate their wants and desires, given the decision-making mechanisms, social customs, and political realities of the society” (Colander, 2010, p. 4). Coordination in this definition refers to production content, method, recipients, and even quantity. To think like an economist one must analyze every situation by comparing the costs and benefits and make any decisions based on those findings (Colander, 2010). The study of microeconomics zeroes in on the individual and analyzes how economic forces affect the choices he or she makes. Economic forces will ensure that what people want and will pay to get will match what is available. This is the concept of supply and demand. If the prices are such that people are not willing to pay it to obtain an item or service, they will choose to buy less of it, not buy it, or buy a substitute. This is the working of the law of demand. The price affects both supply and demand. When prices increase, the demand decreases, and when prices decrease, the demand increases. In the law of supply, however, if prices increase, individuals and companies will increase the supply because the opportunity cost of not producing the product rises with the price (Colander, 2010). There are factors other than price that can lead to changes in supply as well as changes in demand. These could be government...
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...Entire,final,Week,1,2,3,4,5,6, ,dq,discussion,question,assignment,midterm, ,exam,quiz,Strayer,Latest,New,Project,Keller,Homework,Phoenix,Ashford, ACC 307,Course,Complete,All,Entire,final,Week,1,2,3,4,5,6, ACC 307,dq,discussion,question,assignment,midterm, ,exam,quiz,Strayer,Latest,New,Project,Keller,Homework,Phoenix,Ashford, ACC 344,Course,Complete,All,Entire,final,Week,1,2,3,4,5,6, ACC 344,dq,discussion,question,assignment,midterm, ,exam,quiz,Strayer,Latest,New,Project,Keller,Homework,Phoenix,Ashford, ACC 346,Course,Complete,All,Entire,final,Week,1,2,3,4,5,6, ACC 346,dq,discussion,question,assignment,midterm, ,exam,quiz,Strayer,Latest,New,Project,Keller,Homework,Phoenix,Ashford, ACC 403,Course,Complete,All,Entire,final,Week,1,2,3,4,5,6, ACC 403,dq,discussion,question,assignment,midterm, ,exam,quiz,Strayer,Latest,New,Project,Keller,Homework,Phoenix,Ashford, ACC 504,Course,Complete,All,Entire,final,Week,1,2,3,4,5,6, ACC 504,dq,discussion,question,assignment,midterm, ,exam,quiz,Strayer,Latest,New,Project,Keller,Homework,Phoenix,Ashford, ACC 560,Course,Complete,All,Entire,final,Week,1,2,3,4,5,6, ACC 560,dq,discussion,question,assignment,midterm, ,exam,quiz,Strayer,Latest,New,Project,Keller,Homework,Phoenix,Ashford, ACC 561,Course,Complete,All,Entire,final,Week,1,2,3,4,5,6, ACC 561,dq,discussion,question,assignment,midterm, ,exam,quiz,Strayer,Latest,New,Project,Keller,Homework,Phoenix,Ashford, ACC 565,Course,Complete,All,Entire,final,Week,1...
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...Supply and Demand Simulation Paul C. Hostman ECO 365 February 2, 2015 Dr. Jong Yi Supply and Demand Simulation Objective The Supply and demand simulation is designed to apply real world business concepts to gain a better understanding of how a company analyzes supply and demand to optimize decision making. The simulation sample industry of rental property management can be used as a learning tool to identify the causes that change aggregate supply (AS) and aggregate demand (AD) and the shifts in supply and demand that impact surplus, shortages, and revenue. The primary goals are to maximize revenue and reduce vacancies through cause analysis followed by adjusting rental rates accordingly to compensate for shifts in the market (TATA, n.d.). Changes in AS/AD The aggregate supply (AS) is the economy’s gross production of goods and services to meet the total aggregate demand (AD), or the demand for final goods and services during a specific period. Economic changes frequently occur and determine whether to increase or decrease rental rates during a short-run cycle. For instance, a population increase will increase demand therefore presenting an opportunity to increase rental rates. Consequently, changes in preferences toward purchasing homes versus renting will decrease the demand. As identified in the simulation, the equilibrium will also change as the AD curve shifts. Rental price adjustments are then necessary to eliminate any potential surplus or shortage unless feasible...
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...Microeconomics and the Laws of Supply and Demand K. G. ECO/365 April 7, 2015 Marcia Wojsko Microeconomics and the Laws of Supply and Demand This essay is based on the University of Phoenix simulation “Supply and Demand” located in the classroom-week 2 activities I completed. It was about the microeconomic concepts of the supply and demand curves that change based on different macroeconomic factors that affect the apartment rental industry. Two microeconomic concepts in this simulation were the supply and demand of two-bedroom rental apartments in Atlantis because these are based on decisions made by the individual consumer or rental agency. The simulation showed shifts to the supply and demand curves caused significant changes to the economic environment. “The demand curve is downward sloping, and that quantity demanded increases as the price decreases - that is, as you move down the demand curve” (University of Phoenix, 2015). “The supply curve is upward sloping, and quantity supplied increases with an increase in price – that is, as you move up the curve” (University of Phoenix, 2015). The macroeconomic factors in this simulation are what causes the shifts, beyond any one entity’s choice. In this simulation, it showed different scenarios of increased population and changes in consumer income. When the population increases, the demand curve moves to the right because of increased need of two-bedroom apartments. This does not shift the supply curve because there is...
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...Jutex Bangladesh LETTER OF TRANSMITTAL 13 January, 2016 Dr. A.K.M Saiful Majid Professor Institute of Business Administration, University of Dhaka Sir, Enclosed is a business plan on “Jute Diversifying Product Manufacturing plant” that we prepared as the take home final business assignment for the Entrepreneurship course. we decided to conduct the plan on ‘Jute Diversifying Product Manufacturing plant’ keeping in mind the importance of market potential in Bangladesh. You approved our topic on January 10, 2016. The date of submission was set on January 13, 2016. This plan was conducted with proper authorization. The authenticity of the sources used in the report can be guaranteed. We are grateful to you for your overall cooperation throughout. We tried our best to live up to your expectation and hope that the business plan fulfills all the requirements. Sincerely yours, Nabid Hassan Kafi_______________________ Ahmed Muntasir Mahin___________________ Md. Al – Amin___________________________ i Jutex Bangladesh ACKNOWLEDGEMENT We take the privilege to extend our acknowledgement and heartfelt gratitude to our respected course instructor, Professor Dr. A.K.M Saiful Majid, who encouraged us to undertake this difficult endeavor and who has helped us all the way to the successful completion of this report with his able guidance, support and counseling. We have tried to incorporate his constructive suggestions and knowledgeable opinions in the...
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...LEARNING TEAM CHARTER – TEAM “A” |Course Title |ECO/365 - PRINCIPLES OF MICROECONOMICS | | | | | | | | | | | Team Members/Contact Information |Name | |Phone | |Time zone and | |Email | | | | | |Availability During the Week | | | |Tierra Lias | |404-372-2436 | |Mon – Fri (8am-5pm: Text Only) | |Tierra.lias@gmail.com | | | | | |Sat-Sun (any time after 2pm) | | | | | | | |Flexible by phone any other time | | | |Keith | |702-541-5746 | |Anytime after 6:30 | |skeithshaw@yahoo.com | |Shaw | | | | ...
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...of spa and wellness and exploring brave, new directions. It is gratifying to see a healthy dose of healthy travel in several of the trends; bold new ideas in mainstays like aromatherapy and hot springs take hold; and the development of new models for classic destination spas. It is also rewarding to watch trends in technology, beauty and fitness shape how we will live (and look)—and even take note of how the industry will help people address dying, illness and major life changes. And finally, there is a trend we forecasted in 2013 that continues to capture our imagination: mindfulness. We feel strongly that it is important to watch how this is evolving, and you’ll see a short synopsis of this “über trend” in the report. Spafinder Wellness 365™’s Trends Forecast reports on what is happening in our industry, but we also strive to present a true forecast of what lies ahead. Some ideas are still on the horizon, but we think you’ll see much more about them in the not-too-distant future! I’d like to thank Spafinder Wellness, Inc.®’s new Chief Brand Officer Mia Kyricos, who has joined our trend-tracking team, as well as thank our research and editorial teams, led by Beth McGroarty, for their many contributions in making this report so robust. Together, we remain passionate about the spa and...
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...Netflix Carlos A Martinez Eco/365 Jan 08, 2013 Douglas Holbrook Netflix Inside the large video entertainment industry is Netflix Inc., which was founded in 1997. In 2008 the video rental and retail combined to make up $26.7 billion of Netflix’s market (Schneider, 2010). This market can be separated into a number of different groups DVD vending kiosk, online rental and sales, mail delivery services, and video demand services accessible through numerous devices (Schneider, 2010). Thanks to the advancements in technology the rental portion is dwindling down from physical DVDs to digital downloads. It is simply more convenient to use a video game console, DVD player, or Blu Ray Player to access videos straight from home. Consumers are not limited to watching movies at home, since Netflix has developed the ability to view movies on smart phones or even tablet devices. The ability to watch a movie on demand is growing exponentially. Market Structure Due to fast increase in technology, Netflix is in an Oligopoly structure. One of the primary indicators that they are in this structure is that there are only four major firms in the video rental industry ("Economics Online", n.d.). The video rental industry can be determined to be controlled by Blockbuster, Comcast, Redbox, and finally Netflix. These companies are the only real major players in movie rental industry. Another indicator this is an Oligopoly is because of the barriers that need to be overcome to be able to break...
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