ECO 204

  • ECO 204 Week 1 DQ 1 Circular Flow Diagram

    ECO 204 Week 1 DQ 1 Circular Flow Diagram

    DQ 1   Circular Flow Diagram. Explain how the circular flow diagram relates to the current economic situation. Using the circular flow diagram, explain a way that your family interacts in the factor market and a way that it interacts in the...

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  • ECO 204 Week 1 DQ 2 Supply and Demand

    ECO 204 Week 1 DQ 2 Supply and Demand

    DQ 2 Supply and Demand. Analyze how the law of demand applies to a recent purchase that you made. Describe how the product has changed in price and explain whether the price change is due to supply or demand. Did the change in price affect your...

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  • ECO 204 Week 1 Quiz

    ECO 204 Week 1 Quiz

    1. Demand for a good will always rise when (Points : 1)        the price of a complementary good falls.        the price of a substitute good falls...

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  • ECO 204 Week 2 DQ 1 Elasticity

    ECO 204 Week 2 DQ 1 Elasticity

    DQ 1 Elasticity. Analyze the determinants of the price elasticity of demand and determine if each of the following products are elastic or inelastic: a. bottled water b. toothpaste c. cookie dough ice cream d. fresh green beans e. gasoline In...

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  • ECO 204 Week 2 DQ 2 Externalities

    ECO 204 Week 2 DQ 2 Externalities

      DQ 2    Externalities. Explain the difference between a positive and negative externality. In your analysis, make sure to provide an example of each type of externality. Why does the government need to get involved with externalities...

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  • ECO 204 Week 3 DQ 1 Short and Long Run

    ECO 204 Week 3 DQ 1 Short and Long Run

    DQ 1   Short and Long Run. Let’s assume that you own a fast food restaurant and you are faced with many customers each day eating in the restaurant without any tables. Describe the difference between the short run and long run in the...

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  • ECO 204 Week 3 Quiz

    ECO 204 Week 3 Quiz

    1. An example of a horizontally integrated firm is one that (Points : 1)        owns several plants, each handling a different stage of production.        produces a...

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  • ECO 204 Week 4 DQ 1 Market Structures

    ECO 204 Week 4 DQ 1 Market Structures

    DQ 1   Market Structures. Explain the most important characteristic in perfect competition, monopolistic competition, oligopoly, and monopolies and relate the characteristic to how these firms can make profits in the short run. In your analysis,...

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  • ECO 204 Week 4 DQ 2 Barriers to Entry

    ECO 204 Week 4 DQ 2 Barriers to Entry

    DQ 2   Barriers to Entry. Analyze the major barriers for entry and exit into the airline industry. Explain how each barrier can foster either monopoly or oligopoly. What barriers, if any, do you feel give rise to monopoly that will allow the...

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  • ECO 204 Week 5 DQ 1 Transfers

    ECO 204 Week 5 DQ 1 Transfers

    DQ 1 Transfers. Why would cash transfers typically be preferred by recipients over in-kind transfers? What are the pros and cons of each from a government perspective? Respond to at least two of your classmates.

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  • ECO 204 Week 5 DQ 2 Tariffs and Quotas

    ECO 204 Week 5 DQ 2 Tariffs and Quotas

    DQ 2    Tariffs and Quotas. Who gains and who loses from a tariff? How do the effects of tariffs differ from the effects of quotas? If you were a small country, what would you rather utilize?   Guided Response: Review the discussion...

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  • ECO 204 Week 5 Final Paper Market Structure

    ECO 204 Week 5 Final Paper Market Structure

    Focus of the Final Paper   Market Structures In an eight- to ten-page paper, describe each market structure discussed in the course (perfect competition, monopolistic competition, oligopoly, monopoly), provide a real-life example of each market,...

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