...Supply chain and demand models ECO/372 August 25, 2014 Supply chain and demand models Supply chain is a system that consists of people, businesses, activities, information, and all the resources that involved in moving products or services from suppliers to customers. The supply chain is greatly affected by supply and demand. As the demand increases for a product this benefits all of the aspects of the supply chain and creates jobs and should reduce the cost to manufacture. Many assume that supply chain and the supply and demand model are one in the same or very similar. This is not the case at all they need to be at the forefront together when it comes to running a successful business they are not one in the same. They have to run hand in hand and be a complete balance of each other to run efficiently. The supply chain transforms materials and resources from a raw ingredient into a finished product that is eventually disbursed to the customer. The supply and demand model affects this in regards to what is currently driving the supply chains market. As demand raises and lowers the supply chain has to be efficient in keeping up with the market or it could find itself in severe trouble with excess product and no clientele or no enough product and excess supply. In the Supply chain system, products can be re-entered the supply chain for recycling again. The relationship between supply and demand is an inverse relationship. When demand increases from consumers, supply decreases...
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...Reflection Summary Team-C ECO/372 Feb 10, 2012 Reflection Summary A budget deficit occurs when government expenditures exceed the amount of revenue coming into the economy through income and taxes. Since World War II, the United States government has run a large deficit, instead of a surplus. Depending on the particular condition of the economy, a deficit can be right or wrong. The goal is to improve the economy when the government runs a budget deficit. The government will spend money to help stimulate economic growth when the economy is not progressing at a rate the country expects. Both the government and society benefits from the added debt when the government spends money to improve revenue for the long-term. A budget deficit can help businesses create more jobs to limit the amount of unemployment and enhance consumer income. The debts accumulated may be the result of spending on worthwhile projects like road repair or necessary services like education. The government is also spending to establish programs for the longevity of the nation. A budget deficit can have an adverse effect on the economy. A budget deficit can result in increased debt. As the debt increases, the government increases taxes. When taxes are higher than business owners can afford, the result is an increase in unemployment. A budget deficit can also lead to an increase in printed money, which decreases the dollar value and increases inflation. Budget surplus is the opposite of the...
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...Supply Chain and Demand Model Valerie Prich ECO/372 April 20, 2015 Matthew Angner Supply Chain and Demand Model The relationship between a supply chain and a supply and demand model is an important one. Without this relationship, business would not be able to be as organized with their business. Along with this, the businesses would also not be able to distribute their products to the consumers. The consumers who purchase the products do not realize all of the steps that come with this relationship. There needs to be an understanding of both the supply chain and the supply and demand model. Supply Chain Supply chain is the beginning of a business production. A business must have a supply chain in order to be able to receive products and to distribute them. The definition of supply chain is described as a certain network of other companies that works together to both serve the customer, and the consumer (Supply Chain, 2015). A supply chain is the main link between a business and its consumers. When a consumer purchases a product from a business it comes from a line of other companies. The product might come from one store that manufactures the product, then is sold to another store for a goods price, next it is sold to the customer at the price they are willing to pay. Supply chains are not always used to their full extent. Many companies are unaware of what really goes on within their supply chain. There are businesses that do not know the information flow of the supply...
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...Learning Team Reflection: Supply Chain and Demand Model Team A ECO/372 June 11, 2014 Learning Team Reflection: Supply Chain and Demand Model What is a Supply Chain? Supply Chain Management? A supply chain is a network of companies and services that have products available to consumers. For example, grocery stores hire farmers to raise vegetables and contract with different transportation agencies to bring them fresh into the stores. The supply chain gets “a good or service from the supplier to the customer (“Supply Chain”, 2014). Goods are often produced anywhere in the world, not necessarily at the local level; supply chain management makes them available in local neighborhood stores so we don’t have to travel overseas just for a pair of jeans, coffee, etc. They make sure we get the best quality and prices. What is the Supply and Demand Model? Supply and Demand is one of the most frequently used terms in economics (Heakal, 2014). More specifically, demand is referring to a quantity and how much of a product or service is desired by its consumers. Demand does not factor in want or desire; it is based on the number that consumers are ready and willing to actually pay money for. Supply is representative of how much the market can offer. Sufficient supply to meet steady demand leads to an equal balance in Supply and Demand. What is the law of supply? Law of demand? Law of supply is explained as the price of a good or service increases, the quantity of those goods or...
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...Learning Team Reflection: Supply Chain and Demand Model ECO/372 Learning Team Reflection: Supply Chain and Demand Model The topic that we are discussing is supply chain and demand model. We have learned many valuable tools over the past four weeks that has lead us to this topic. We learned about historical economic data, economic forecast data, aggregate demand and supply models. Each of these topics has aided us in learning the fundamentals of Macroeconomics. This week we discussed the relationship between supply chain and the supply and demand mode. We will explain what each is and how they work together. Our goal is to gain and give a better understanding of the relationship between the two. Supply Chain and Demand Model A Supply Chain is a network of companies and services that have products available to consumers. “Historically, the three fundamental stages of the supply chain; procurement, production and distribution, have been managed independently” (Thomas & Griffin, 1996, p. 1). The supply chain gets a good or service from the supplier to the consumer. Goods are often produced anywhere in the world, and the supply chain management makes them available to us locally so we don’t have to travel far to purchase a foreign car, a pair of jeans or a cup of coffee. They make sure we get the best quality for the price we pay. The supply chain consists of purchasing, logistics and the production line. The supply chain exists to bring in the resources...
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...undamentent Fundamentals of Macroeconomics Jazmone Martin ECO/372 Macro Economics October 3, 2014 Mr. Dennis McGuckian Many Americans are unaware of the government activities that affect us every day. The economic activities have a major effect on the economy in any ways. If citizens were educated on them, things might change in their favor. “Economics is the study of how human beings coordinate their wants and desires, given the decision-making mechanisms, social customs, and political realities of the society. One of the key words in the definition of the term “economics” is coordination” (University of Phoenix, 2013, p. 1). Government economic rules and laws are constructed to benefit the government and not the citizens. Many factors play roles in supply and demand. This paper will discuss a few different activities and how they influence the economy such as purchasing of groceries, massive layoff of employees, and decrease in taxes. Purchasing of Goods The purchasing of groceries affects the government, households, and businesses. The government determines the amount of taxed of groceries, which groceries can be sold and when they can be sold. Decreased taxes means less spending money for the government, which also means more debt they will accumulate. Households with low income are affected when taxes are high. Consumers are limited on the amount they can purchase, causing inadequately providing for their families. Families will then lean towards government...
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...Ma Running Head: Aggregate Demand and Supply Models Aggregate Demand and Supply Models ECO-372 The current state of the current US economy is in a spiral deficit that can be attributed to several factors. Of these many aspects there are a handful that stands out such as gas prices, interest rates and most importantly unemployment. The unemployment rate in the United States has decreased to 7.8 percent in September of 2012. Historically, from 1948 until 2012, the United States Unemployment Rate averaged 5.80 Percent reaching an all-time high of 10.80 Percent in November of 1982 and a record low of 2.50 Percent in May of 1953 (Trade Eco, 2012). Unemployment As of 2012 the rate of unemployment has dropped dramatically throughout 41 states with some states not even seeing a change of improvement such as California being in the top 5 of the highest unemployment rate. Long-term unemployment has serious ramifications for the individual and for the economy. Individuals suffering long term unemployment become less motivated and begin to lose their credibility and experience as well as the ability to compete in the job market, and become less employable as time goes by. It is not a sense of thinking that things will “get better” and a job will arise, because when it does the length of time a citizen has been unemployed does come into effect. Unemployment Cont.: Unemployment...
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...International Economics Paper Hercillia C. Henderson ECO/372 October 21, 2015 Professor Watson Ragin The Role of the President and Congress in Stimulating and Contracting the Economy Both the President of the United States and the United States’ Congress are capable of enacting policies that may have the effect of either stimulating or contracting the economy. The President is able to stimulate the economy in a variety of ways. One is to propose a Congressional budget that includes increases in spending for the purpose of creating a stimulus, or proposing tax cuts that likewise are intended to have a stimulus effect. The President may also issue executive orders in certain areas that have the effect of creating a stimulus or contracting the economy. These might include appointing like-minded people to the Federal Reserve Board, adjusting certain tax rates by means of changes in revenue collection policy, adjustments to trade policy, and the like. Congress possesses similar powers in that Congress may appropriate spending for purposes of a imposing a stimulus package, adjusting rates of taxation for the purpose of generating economic growth, adjusting trade policy, such as lowering tariffs, for a similar purpose, and creating public works programs. Budgets and legislation that are proposed by the President must ultimately be approved by Congress, although the executive branch of the federal...
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...International Economics Paper ECO/372 2016 International Economics International economics plays a big role in the way the world conducts business. This paper will first describe what the president, congress and the Federal Reserve do to stimulate and contract the economy. Next, this paper also will identify what motivates policymakers to stimulate or contract the economy. Then this paper will explain what the Federal Reserve says about policy goals and the strength of the economy. Lastly, the strength of other economies outside the United States as on Apple Inc. and what changes are recommend in Apple Inc.’s competitive strategies or supply chain will be discussed. Stimulating and Contracting the Economy When the economy is steady it helps businesses flourish and stay prosperous. When it is time to stimulate the economy it is ordered by the President and Congress. The President will propose a budget for the upcoming fiscal year; these proposals are presented to congress for approval. There are many ways a stimulus can occur; creating tax breaks and job creation are a few. The American Jobs Creation Act was created in 2004, within this act bipartisan support, infrastructure investments, tax breaks for small businesses and unemployment help were included (Boushey, 2011). Another option to stimulate the economy is to decrease interest rates. When you start talking interest rates, this is where the Federal Reserve steps in. The Federal Reserve has control...
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...International Trade and Finance Speech James DeBose ECO/372 January 17, 2013 Professor Pretzsch International Trade and Finance Speech This speech will discuss several topics concerning international trade and finance. The first topic of discussion will explain what happens when there is a surplus of imports brought into the United States, and the specific example used will be China trade surplus as it jumped in July 2012. China exports to the United States rose 13.6% to $165.3 billion and their exports to Europe fell 0.8%. The increase in the surplus of imports causes businesses to have more products to offer consumers, lower the prices of the products, and leads to consumers purchasing more products. Purchasing more products increases the revenue for businesses, and causes major movement of money. The next topic that will be discussed is the effects of international trade to GDP, domestic markets, and university students. International Trade helps our government and markets earn income from foreign countries. International Trade affects university students by offering school supplies such as computers more affordable because they are made and sold at a cheaper rate. University students are able to achieve a higher education when the school supplies are produced in a domestic market where the college student resides, and leaves the student more money for tuition. A government choice on tariffs and quotas has different affects on international relations and trade....
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...International Economics Monica Jones ECO/372 December 1, 2015 Larry Olanrewaju International Economics What does the president and congress do to stimulate the economy? What does the president and congress do to contract the economy? The president and congress can stimulate the economy by creating tax cuts, creating job bills and funding state and local governments. Tax cuts would allow companies to retain more of their earnings. The goal is that large corporations and small businesses would then turn around and hires more employees. Another benefit of tax cuts would be increased capital expenditures spending. A jobs bill would be directly aimed at creating jobs in the small business sector. The goal would be to increase the availability of credit for all small businesses. The creation of jobs bill would be aimed at increasing SBA lending and lowering capital gains taxes, which would encourage entrepreneurship and investments. Funds disseminated to local governments have the greatest multiplier effect. By getting funds to these governments, it would allow states to stop raising taxes on residents and from cutting needed services, which would help lower the unemployment rate and not further punish overly-taxed residents. In order to contract the economy, Congress and the President cut spending and program to cool the economy. If done correctly, the reward is an ideal economic growth rate of around 2-3% a year....
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...Strategies 2 1.1 Doing Business in the Digital Economy 4 1.2 Information Systems and Information Technology 11 1.3 Business Performance Management, Business Pressures, Organizational Responses, and IT Support 13 1.4 Strategy for Competitive Advantage and IT Support 18 1.5 Social Computing and Networking and Virtual Worlds 25 1.6 Why Should You Learn About Information Technology? 29 1.7 Plan of the Book 30 1.8 Managerial Issues 31 Minicase: NHS Hospitals Adopt Wireless 35 G Information Technologies: Concepts, Types, and IT Support 38 Mary Kay's IT Systems 39 2.1 Information Systems: Concepts and Definitions 41 2.2 Classification and Types of Information Systems 42 2.3 How IT Supports People 52 2.4 How IT Supports Supply Chains and Business Processes 56 2.5 Information Systems Infrastructure, Architecture, and Emerging Computing Environments 58 2.6 Innovative and Futuristic Information Systems 64 2.7 Managerial Issues 67 Minicase: Airbus Improves Productivity with RFID 72 Networked Devices and a Collaboration Portal Tackle Super Bowl Logistics 113 4.1 Enterprise Networks, Connectivity, and Trends 115 4.2...
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...1 Gabriel Cathey ECO/372 September 15, 2014 Instructor: W. Eric Hogan 2 Fundamentals of Macroeconomics When one speaks on economics, there are certain factors to consider simply from a financial bases. The first thing that needs to be done is having an understanding on what is economics? There exist many different parts economics and how it relates to society from all walks of life. The purpose of this article is to give a brief incite into the fundamentals of macroeconomic. Defining What is Economics The word "economics" derives from Greek which means the managing of a household. Economics came about as a discipline from the 18th century which was considered the branch of moral philosophy. Economic is also known as the political economy and studies issues of labor and production, and relationship to law and government. The term "economics" by the 19th century was displaced by "political economy," although the either is still used. Harvard economist Greg Mankiw states the economics is like managing a household that involves dFundamentals of Macroeconomicsecisions on what tasks are done , by who should they be done such as to whom raises the children,who does the chores and who supports the family . All these things down within a household as stated by Greg Mankiw, requires decisions to allocate resources, time and people in household management. Economics expands the the economics term beyond the household...
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...FUNDAMENTAL OF MACROECONOMIC Truc Tran ECO/372 August 25, 2014 Jeffrey Lehrer FUNDAMENTAL OF MACROECONOMIC Economics is the study of what people do to coordinate their want and desires through production, distribution, and consumption of goods and services. To understand economics, one has to understand the basic fundamentals of economics. Economics is based on two groups’ macroeconomics and microeconomics. Macroeconomics is the decision-making of an economy as entire picture. Some of the fundamentals of macroeconomics that include Gross Domestic Product (GDP), Real GDP, Nominal GDP, Unemployment rate, Inflation rate, and Interest rate. The first subject that will be cover in macroeconomics is Gross Domestic Product (GDP) is the standard living of a country through its goods and services. These goods and services are produced by any given country in any given time. These goods and services are sometimes the primary source of economic stability of any given country. Real GDP is the market prices primarily on a specific year (Colander, 2010). One will focus on the purchasing of groceries, massive layoff of employees, and decrease in taxes affect the government, businesses, and households. It was once said by President Calvin Coolidge that “The business of America is business” (Colander, 2010). For most countries its economy is broken down in to three parts: the government, households, and businesses. We will cover each one briefly and explain how each one has an effect...
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...Introduction The Indian market is seeing a paradigm shift in the consumption patterns. The ever-growing middle class is one reason for this change. Population growth and economic development are driving consumption around the world and will continue to do so as billions of consumers – especially in China, India and other emerging economies add to the demand for goods and services. This has resulted in depletion of several valuable natural resources. Green consumerism refers to recycling, purchasing and using eco-friendly products that minimize damage to the environment. More and more businesses and industries are joining in the green movement, either out of a real interest in saving the planet or a desire to capitalize on the growing consumer demand for greener ways. For example, Wal-Mart anticipates savings to the tune of billions of dollars by reducing packaging across the supply chain and Wells Fargo issues carbon credits to offset its customers' credit card purchases. Very few consumers, who have realized the importance of going green, have been practicing it. For many, the perception about the idea is vague. Many organizations are actively trying to induce a paradigm shift in their green marketing strategies to enable them to reach the consumer. Has their attempt in this endeavour yielded results? The study is aimed at exploring the answers to these questions. Purpose and Scope of the Study This study is an attempt to understand the attitude...
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