Name a game you know how to play. How is the game of economics similar to the game you mentioned? How is the game of economics different than the game you mentioned?

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Economic discussion

The game of economics is not so different from games you are already familiar with. Name a game you know how to play. How is the game of economics similar to the game you mentioned? How is the game of economics different than the game you mentioned? Consider the roles of players or rules of the game.

put into your own words no outside sources

Reflect on what’s happening in our country that affects or has a big impact in our economy in terms of our resources of production (land, labor, capital and entrepreneurship). Explain its Micro and Macro impact both positive and negative to our country.

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Applied economics

Today, we are in a new normal way of living, a very different a way we have lived for several years. It’s because everyone from the the COVID 19 that might cause us from health and economic issue. Everyone, therefore, has to be very responsible. in his behaviors in the market; and become efficient in his consumption; friendly to the – environment or the natural resources as these may become scarce in the future. Everyone must be aware of the micro and macro levels of my environment and contribute to the growth of our economy.

The purpose of this task is to reflect on what’s happening in our country that affects or has a big impact in our economy in terms of our resources of production (land, labor, capital and entrepreneurship). Explain its Micro and Macro impact both positive and negative to our country.

Discuss the advantages of a free market approach Evaluate the possible to providing services such as education. Evaluate whether government intervention is able to correct market failure in education.

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Maximum price for education ( discuss benefits and drawback)

Extract A

Rethinking tuition fees

The value of a degree is significant. The latest data shows that the median university graduate income was £10000 more than the average non-graduate income in 2018. This ‘graduate premium’ means graduates will contribute significantly to the economy. In addition, the government will benefit greatly from additional tax revenues. However, funding higher education continues to be a major issue. English universities charge some of the world’s highest fees. Interest rates on student loans are now 6.3%. There are a large number of courses where graduates are likely to earn less than non-graduates, despite an average of £50000 of debt. The Department for Education estimates that 45% of the value of loans will not be repaid. Outstanding student loans in England totalled more than £100 billion in 2018. By 2023 total outstanding student loans are forecast to rise to £120 billion. One option for revising student fees could be to charge higher fees for courses that are more expensive to teach or that have a better chance of higher earnings. That would make Science or Mathematics degrees more expensive to study than English or Philosophy.

At most universities the level of fees is likely to be the same flat rate of £9250 per year. However, science-based courses need more expensive equipment and courses such as medicine require more teaching time and personal instruction. Tuition fees were introduced in 1998 at £1000 per year. They are currently £9250. Economists estimate that the price elasticity of demand for higher education is about –0.5. Charging £9250 a year for an undergraduate degree makes England very expensive by international standards. Scotland has no fees for Scottish students, and fees in Wales and Northern Ireland are significantly lower. Much of Europe has low or no fees and Germany, which used to charge fees, has abolished them, replacing them with a graduate tax. The only country with comparable fees is the United States. Top private colleges can charge more than the equivalent of £30000 per year while state colleges can charge local students less than fees in England.

Despite this, student numbers at English universities have continued to increase from 450000 in 1998 to over 700000 in 2018. Students from all backgrounds are more likely to go to university than ever before. However, applicants from low-income areas are much less likely to go to university than applicants from high-income areas. The Universities and Colleges Admissions Service (UCAS) found that in the most deprived 10% of postal areas about 20% of young people went to university in 2018, compared with 50% in the highest income areas. Research by University College London revealed that even when candidates from low-income areas had the same exam results, they were much less likely to apply to university than candidates from high-income areas.

Extract B

Low-income university students twice as likely to drop out than high-income ones The number of students from low-income areas who drop out of university before finishing their degree is at its highest in five years, indicating a considerable waste of scarce educational resources. This news comes at the same time as a drive to recruit students from poorer backgrounds, with universities spending a total of £725 million on access initiatives in the past academic year alone. A number of top universities have started to lower their A level grade offers to students from low-income areas, in an attempt to encourage them to apply. However, there is a danger with ‘enticing’ disadvantaged students through lower grade offers, if universities are not going to provide ongoing support for them once they begin their courses.

The latest figures show that 9% of disadvantaged undergraduates do not continue in higher education beyond their first year. In comparison, the average drop-out rate among students from the high-income backgrounds was less than 5%. The gap continues to widen. A report, published by the Office for Fair Access, concluded that: ‘The significance of this for students is huge. Higher education can be a transformational experience that opens doors to rewarding careers and social mobility, but this is only the case if students achieve successful outcomes.

EITHER

(1) advantages of a free market approach Evaluate the possible to providing services such as education. (20 Marks)

OR

(2) Evaluate whether government intervention is able to correct market failure in education. (20 Marks)

 

 

 

Calculate the standard dollar costs for the units of output. Calculate AHC factory overhead volume variance. Calculate a detailed analysis of AHC Labor using both rate and volume variance.

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Economics Question

Affordable Handbags Company (AHC) has been in business for three years and is growing steadily through an increase in product production. The company creates three handbag-style products: shoulder bags, wallets, and strapless buckle bags.

1) Calculate the standard dollar costs for the units of output.

2 )Calculate AHC factory overhead volume variance.

3)Calculate a detailed analysis of AHC Labor using both rate and volume variance.

 

Find and explain any independent variable(s) that is statistically significant at the five percent significance level. Interpret the relation between the statistically significant independent variable(s) and dependent variable (i.e., interpret the estimated slope coefficient).

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ASSIGNMENT

Statement 4-2 Cable system 1’ current price for basic service subscribers is $10.50 per month. A regional manager of the cable system 1 wants to evaluate price and cost of license fees of STARZ Network to their premium cable tier. Their marketing department obtained the data on the demand and costs of STARZ Network to their cable premium tier in their service area.

Price Cost of License Fees Number of Subscribers
$5.00 $8,210 1,493
$5.50 $8,247 1,500
$6.00 $5,158 938
$6.50 $6,729 1,224
$7.00 $6,078 1,105
$7.50 $5,234 952
$8.00 $6,629 1,205
$8.50 $6,664 1,212
$9.00 $6,785 1,234
$9.50 $6,071 1,104
$10.00 $4,631 842
$10.50 $4,847 881
$11.00 $4,796 872
$11.50 $5,395 981
$12.00 $3,653 664
$12.50 $4,666 848
$13.00 $2,684 488
$13.50 $1,248 227
$14.00 $1,371 249
$14.50 $2,764 503
$15.00 $1,679 305

 

(Statement 4-2) After running the regression to find how the cost of license fees is related to price and the number of subscribers by using the Excel, post summary output of regression. Make sure that names of independent variables are displayed correctly in your summary output.

(Statement 4-2) Find and explain any independent variable(s) that is statistically significant at the five percent significance level. Interpret the relation between the statistically significant independent variable(s) and dependent variable (i.e., interpret the estimated slope coefficient).

 

 

What is “socialism”? What is “capitalism”? Do some research and summarize both. What are the positives and/or negatives of each?

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Discussion board

View the video below before Answering.

  • https://stosselintheclassroom.org/how_millennials_view_capitalism/

1. Is going into a business career a bad thing? Why do some people think it is? How or why could it be a good thing?

2. What is “socialism”? What is “capitalism”? Do some research and summarize both. What are the positives and/or negatives of each?

3. Can people only get rich at other people’s expense? Why or why not?

4. What question would you ask Brian Brenberg if you could? Do some research and try to find the answer to your question. What do you think Brian Brenberg or John Stossel would say?

Write a 2 paragraph summary of the article in the link provided: https://e360.yale.edu/features/europe-industrial-heat-pumps

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Mod 3 current event

Write a 2 paragraph summary of the article in the link provided: https://e360.yale.edu/features/europe-industrial-heat-pumps

Discuss the proposition that different types of household debt will make the cost of living crisis worse for different households in different ways.

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Household debt

Discuss the proposition that different types of household debt will make the cost of living crisis worse for different households in different ways.

Identify some of the major companies in this industry. Identify the goods, and/or services this industry produces. Add anything else about the industry that you think is interesting.

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ASSIGNMENT

Choose an industry that interests you. (Remember, an industry is not a company. An industry is a group of companies doing the same thing. Ford is a company. Automobile manufacturing is an industry.)
Do research on your industry. In a few short paragraphs, describe your selected industry:
Be sure to write in your own words.
Identify some of the major companies in this industry.
Identify the goods, and/or services this industry produces.
Add anything else about the industry that you think is interesting.
Keep track of your sources by copying their Internet addresses (URLs). You can paste these URLs at the end of your paper as your references.
Describe a microeconomic variable for your industry. Microeconomic variables include prices, sales, production, advertising, investment, and so on.
Include a graph, chart, or table showing this microeconomic variable over time.

You do not need to create this graph, chart, or table. Find one that has already been created and paste it into your paper. For example, if your industry is U.S. automobile manufacturing, Google, “U.S. automobile manufacturing over time.” Select the “images” option. Choose one of the graphs, charts, or tables. Then copy and paste it into your paper.
Include a reference to the source of the graph, chart, or table. Microeconomic relationships and market outcomes are covered in Weeks 2–4.
Describe one way the government might impact this industry. Examples might include price controls, regulations, taxes, or any other way you can think of.
Government intervention through price controls, regulations, taxes, and antitrust enforcement were covered in Weeks 2 and 4
Resources to complete the assignment: https://www-statista-com.libdatab.strayer.edu/

For each of the videos or articles from this week, explain in 2-3 sentences why the information presented in that video or article is important to research methods.

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Economics question

For this assignment, you’ll be posting your answers to parts A and B below. Your initial posting is worth 9 points and your 2 responses in Part C are worth 3 points each, for a total of 15 points for this assignment. .

Part A. For each of the videos or articles from this week, explain in 2-3 sentences why the information presented in that video or article is important to research methods. Label your answers with the number of the video or article as indicated here:

Part B. What was interesting to you in these videos or articles and why?