Econ 545: Business Economics Project Two: Microeconomic Analysis

Energy has easily become one of the most important necessities for our everyday lives. Without it we would simply not be able to have transportation or be able to gather any of our other resources that we depend on. If at anytime our energy supply ceases or no longer attainable the results may be horrific. However, it is quite easy to keep this from happening, It is crucial that our current population realize the importance of sustaining our present non-renewable resources. An examination of all the present energy issues and human impacts of energy conservation along with the a resource plan will show importance of energy

From the moment we wake up in the morning until the time we go to bed each night, we all use different forms of energy to perform our daily activities. On a daily basis I use energy for transportation to commute to and from work and run errands; for cooking meals using either my gas range, microwave or charcoal grill; for heating my home in the winter and cooling my home in the summer; for daily showering, and for lighting my home in order to be comfortable and productive. Most of the resources we rely on for energy are nonrenewable and will soon be depleted.

concerned about the environment and also they wish to reduce pollution somehow. However, Cindy is

An ethical issue that individuals face today involves the price war or price discrimination involving the airline industry. According to the legal definition of price discrimination: Price discrimination is the practice of charging different persons different prices for the same goods or services. Price discrimination is made illegal under the Sherman Antitrust Act. 15 U.S.C. §2, the Clayton Act, 15 U.S.C. §13, and by the Robinson-Patman Act, 15 U.S.C. §§13-13b, 21a, when engaged in for the purpose of lessening competition, such as tying the lower prices to the purchase of other goods or services.

Considering the international market would open up additional opportunity to expand your target market. The countries that the United States trade the most with still have demand for solar energy.

Energy production is vital to the United States. The United States current main reliance for energy is importing oil and other sources of energy from foreign countries such as Saudi Arabia. However, the United States is determined to alter this current reliance and convert the U.S. into a major energy producing country. Energy relates to nearly every person in the country because almost everyone relies on some sort of energy in their everyday lives. In relation to importance to the people, without energy, life would be incredibly different from what it is today. Almost everything you use happens to

pertain to the fact that America is relying heavily on one aspect to obtain and use energy. These

Expansionary Activities: Like what I describe previously about the three monetary policy tools that the Fed can use to increase the money supply. Which are open market purchases of securities, discount rate decreases, and reserve requirement decreased? All else constant, whenever the Federal Reserve carried out the purchases of securities in the open market, reserve accounts of banks (and thus, the money base) increase. And whenever the discount rate is being lower by Fed, this results in a lowering of interest rates in the economy. Lastly, if reserve requirement decreased, all else constant, it results to an increase in reserves for all banks. Two out of these three cases (open market operations and reserve requirement changes), an increase

There is no doubt energy is an important resource. We use energy in every aspect of our lives. In the year 2010 the whole world used a total of 511 quadrillion British thermal units of energy and of the 511 quadrillion “The United States' primary energy consumption was nearly 98 quadrillion Btu, nearly 19% of world total primary energy consumption” (U.S. Energy Information Admin.). To put things into perspective 1 quadrillion Btu equals 45 million tons of coal or about 172 million barrels of crude oil. So the United Sates would have used 4.4 billion tons of coal or about 17 billion barrels of crude oil in 2010 alone. As population grows the demand for “energy consumption will grow by 56 percent between 2010 and 2040” (U.S. E.I.A.). With demand expected to grow that much within the next 30 years, it is essential we build a sturdy foundation to prepare us for the future.

The renewable energy industry can be a very profitable market to enter and many different governments and business are investing in the industry. Renewable energy is a less expensive long term option and many developing counties have renewable energy sources that power their populations; whereas, develop counties do not have those same resources. The renewable energy industry will be more prominent by 2040.

The United States consumes more energy than needed, compared to the rest of the world. However, to properly address such an issue as over consumption of energy, one first must understand what “energy” is.

In addition, solar energy operational costs are manageable. It is free from monthly charges compared to conventional sources of energy. Solar energy does not require raw materials such as oil and coal, and once the panels are built, there will be no monthly charges. In addition, the prices of fossil fuels are increasing day by day, and this means conventional energy will be very expensive. Solar energy will remain the most capable world’s future power supply because, it is cost effective once the plants are built, and there will be no transport costs like for conventional energy sources. Therefore, solar energy is cost-effective, and will help in future energy supply, as the maintenance cost is affordable, as long as they are installed properly, and are working efficiently ( Hans, 2012). Furthermore, with the improvement and advancement of technology, it will increase its efficiency, and cost of production thus, making it more cost effective and the world’s best

It is well known that China is the largest developing country in the world and second largest country in energy consumption. In addition, China has the third largest Gross Domestic Production. With the rapid development of economy and society, energy demand of Chinese society is increasing in an incredible speed. Unfortunately, various fossil fuel resources provide 90% of energy in China. Fortunately, China has large country area, and there are rich in solar resources.

The threat of global warming is influencing people to become “greener,” turning to renewable energy options which are often referred to as alternative energy. Renewable energy refers to energy that does not come from burning of fossil fuels or pollutant infused methods to provide energy. It is the harnessing of natural resources that are constantly renewable such as sunlight for solar panels and wind for wind turbines, just to name two (Lamb, 2015). The use of renewable energy is not only beneficial to the preservation of traditional energy sources but to environment and humans and lastly it economically will become a better option for people. Renewable energy is the key to a healthier future.

The 2014 renewable energy and jobs review 2014 was completed by The International Renewable Energy Agency (IRENA). It provides in depth research about the recent trends in renewable energy employment, prices and investment. These activities have affected job creation across a multi-national spectrum. Each year the growth in this sector generates substantial employment opportunities.