Article Analysis Week 1 Economics 365

During these times of change business may have to change its orgainsation, operation and its nature to deal with the challenges of each stage in the business life cycle. For business to be successful they must constantly develop and change strategies to deal with the growth of the business or the life of the business may be cut short.

The final project for this course is the creation of a research paper. Every day, millions of economic choices are made by people—from what brand of soap to buy to how many employees to hire for a factory. Microeconomics provides us with the tools, models, and concepts to better understand individual choices in the marketplace and how resource allocation is determined at the micro level. The decisions made by individuals and households impact the market and influence decisions made by firms. Firms use

There are so many events going on in the world today. There is a housing market issue, health care reform issue, and companies fighting for paid sick leave from their jobs. There are many more this is just to name a few. The housing market is going to start booming again for a short time. The health care reform created by Obama will continue to be an issue for a long time, and companies are fighting to get paid sick leave when they are ill. There are so many things that have changed in the world, and it sure is not what it used to be.

In an ever changing world we have seen the number and complexity of languages become reduced. In a Wall Street Journal article entitled What the World Will Speak in 2115, John H. McWhorter advocates for the world to see these changes as necessary and a way for communication worldwide to become more efficient and simplified. McWhorter shows how language has been streamlined for centuries as a way for citizens to adapt rather than viewed as an extinction of culture. Modern English is likely to become the dominant language worldwide but more so for the fact that it can be easily learned and is open to transformation with the times. Despite the fears of a world where lingual diversity is reduced, McWhorter suggests that there will still be variation to promote culture and communication with people from all backgrounds will be easier. The following is a summary and analysis of McWhorter’s main points describing the simplification of language. Following the summary of main points will be a hypothetical situation in what the world language could consist of 100 years from now.

The structure of DNP Semester Saturday considers microeconomics, in which my incentives for attending the 8-hours session included earning participation grade, learning new ideas, and having face to face interactions with my classmates and professors. My opportunity cost included not being able to enjoy a beautiful, warm weather witnessed in Georgia after a long time. My economic decision to attend the session directed me to discover three relevant ideas related to economics, including application of theory in a DNP project, emotional intelligence, and the multiplier effect that might have a profound impact on my personal practice world.

If Tesco decides to change the price of their goods, for example; the price of their doughnut in 2009 was 5 pieces for a pound, a reasonable price for students but with the economic environment it affected everything with

The Great Recession is a term that represents the sharp decline in economic activity during the late 2000s, which is generally considered the largest downturn since the Great Depression (Investopedia , n.d.). During the Great Recession many firms cut prices, but quietly. The only firm that stood rock solid was the industry leader LVMH, which claimed that it never puts its products on sales at a discount (Parks, 2016). The bloodbath in the Great Recession forced the weaker players such as Christian Lacroix and Escada to file for bankruptcy. However, it made stronger players such as LVMH even more formidable. They benefitted from an established pattern in high fashion, the flight to quality (Parks, 2016). In other words, when people have less money, they spend it on the best. As the recession became worse, many middle-class customers in economically depressed, developed economies began to hunt for value instead of triviality and showing off (Parks, 2016).

In business it is essential for owners to consider important factors when mapping out their business objectives. Economics used as a tool to solve coordination problems. They include what and how much product to produce, how to produce their product, and for whom they are producing. In order to effectively answer these questions, economics is used. Colander (2006) describes 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” (p. 4). The foundation of economics is based on several factors that assist in understanding an economy.

In this way, the Fed manages price inflation in the economy. So bonds affect the U.S. economy by determining interest rates. This affects the amount of liquidity. This determines how easy or difficult it is to buy things on credit, take out loans for cars, houses or education, and expand businesses. In other words, bonds affect everything in the economy. Treasury bonds impact the economy by providing extra spending money for the government and consumers. This is because Treasury bonds are essentially a loan to the government that is usually purchased by domestic consumers. However, for a variety of reasons, foreign governments have been purchasing a larger percentage of Treasury bonds, in effect providing the U.S. government with a loan. This allows the government to spend more, which stimulates the economy. Treasury bonds also help the consumer. When there is a great demand for bonds, it lowers the interest rate.

A strong economy is the backbone of a successful and prosperous country. However, the economy is constantly changing, and that can have a massive impact on every other aspect of life for a country’s citizens. The United States of America shows that a changing economy has an impact on the rest of the country.

2. Microeconomics – the branch of economics, which deals with the individual decisions of units of the economy – firms and households, and how their choice determine relative prices of goods and factors or production.

“Economics is the branch of social science that studies the production, distribution, and consumption of

In the modern economic system presented in the world today, microeconomics, and the study of such, is a vital part of the budding economic scholar. In most circumstances, microeconomics is based on the cumulative study of how individuals and firms, or a combination of the two, make decisions regarding the allocation of resources, typically in markets where goods and services are bought and sold. This allocation, or optimization of limited funds through distribution, usually follows 2 standardized theories: the Consumer and Producer. Consumers usually choose to maximize their available preference in the market, with a limited income value or time aspect. This is evident in the world economy, with consumers always being fiscally motivated

The Economy is the backbone to society. There are many factors that operate in, and govern our society’s economical structure. Factors such as scarcity and choice, opportunity cost, marginal analysis, microeconomics, macroeconomics, factors of production, production possibilities, law of increasing opportunity cost, economic systems, circular flow model, money, and economic costs and profits all contribute to what is known as the economy. These properties as well as a few others, work together to influence the economy. Microeconomics and Macroeconomics are two major components. Both of these are broken down into several different components that dictate societal norms and views.

In the United States, minimum wage has remained at a low number for several years. Minimum wage is defined as the lowest possible income that an employer can legally pay an employee. This ensures that all people are fairly paid and not defrauded by companies or businesses. Minimum wage is considered a price floor and the minimum wage laws determine the lowest price possible that any employer must pay for labor. In an economic model, the quantity of supplied is greater than the quantity demanded and the minimum wage is above equilibrium price and quantity. Minimum wage prevents labor supplied and labor demanded from moving