com | Counseling hours | | Teaching assistants name | Uroosa Jeelani | Email address | uroosaj@gmail.com | Tutorial timings and days | Thursday 12:45-13:45 | About the course. This course will teach students the basic tools of microeconomics and macroeconomics issues such as price determination, supply and demand, consumer behavior, costs of production and market structures growth, inflation, unemployment, interest rates, exchange rates, technological progress, budget and trade deficits
Words: 2405 - Pages: 10
Microeconomics Essay Assignment Joyce Nebrida Question 1: Use supply and demand analysis to show the effect of a (binding) price ceiling in the market for rental properties. * What are the possible negative effects due to this price ceiling? The possible negative effects of this price ceiling according to supply and demand analysis is that landlords would have less incentive to offer apartments, and so the supply of apartments would drop, causing a persistent shortage of rental
Words: 518 - Pages: 3
Market Structures Adam Timothy Rider ECO204: Principles of Microeconomics Evelyn Carlson 10/13/2014 When trying to gain insight into the local economy it is very important to understand the big picture of how the various market structures relate to each other. This can be accomplished by putting together some of the smaller pieces or characteristic of the market structure. These characteristics can be organizational, competitive or a variety of other features that categorize
Words: 2943 - Pages: 12
Market power * Different customer groups * Resale is not possible Imperfect market : * There are four types of imperfect markets: - Monopoly (only one seller) * Oligopoly (few sellers of goods) * Monopolistic competition (many sellers with highly differentiated product) * Monopsony (only one buyer of a product) In this market scenario, the seller enjoys the luxury of influencing the price in order to earn more profits. Monopoly: A market in which
Words: 1140 - Pages: 5
CVS retail pharmacies operate in a monopolistic competition market structure. According to Investopedia (2012), the monopolistic competition is, “A type of competition within an industry where: 1. Firms produce similar yet not perfectly substitutable products. 2. Firms can enter the industry if the profits are attractive. 3. Firms are profit maximizers. 4. Firms have some market power, which means none are price takers. Firms in a monopolistic competition sell goods that have either actual
Words: 2058 - Pages: 9
only learned the basics of macroeconomics. In Chapter 2 I gained some insight on microeconomics. Microeconomics is the part of economics that focuses on the behavior of people and organizations in particular markets. This is a portion that I didn’t study when on the debate team. As we pretended to be policy makers, I was taught that the importance is always the global scenarios. When looking into the microeconomics, I was able to thoroughly understand how different types of economies such as capitalism
Words: 455 - Pages: 2
first portion of the course will cover topics in Macroeconomics such as Gross Domestic Product, inflation, Unemployment, Fiscal Policy, Monetary Policy, Balance of Payments and Exchange Rate. The second portion of the course will cover topics in Microeconomics such as the theory of consumption, the theory of production and market structures Course Learning Objectives After the course, students should be able to: Explain the concepts of demand, supply, elasticity, efficiency, GDP, inflation
Words: 591 - Pages: 3
ECO/365– Principles of Microeconomics– Final Exam Study Guide How to Use this Study Guide – READ ME FIRST The following study guide will NOT have the same exact questions on your test! However, this study guide WILL help you ace the Final Exam. The guide covers the same topics and will help you gain a deeper understanding of the concepts. Best of all, you are still guaranteed a score of 90% or higher or your money back! Tip #1: Use CRTL+F to search a related keyword to quickly find the topic you
Words: 1442 - Pages: 6
Monopoly Erinn Copeland ECO204: Principles of Microeconomics (BQC1232A) Instructor: Melvin Landry September 10, 2012 Monopoly Monopolies in the business world exist because dominating companies create obstacles that impede smaller companies from having an impact on the market. Monopolies are defined formally "as one firm within an industry that produces a product for which there are no close substitutes and in which significant barriers exist to prevent new firms from entering the industry”
Words: 1810 - Pages: 8
the founder, wants to expand her business in the next 5-10 years. Our group has been hired by her to perform a market analysis, review competitive strategies, and make recommendations on how to maximize profits. Kudler Fine Foods has no direct competition therefor they don’t have the need to compete in their market. This doesn’t mean that they do not have strategies in place to ensure that customers don’t stray to their indirect competitors. KFF is dedicated to expanding their services, enhancing
Words: 1652 - Pages: 7
