Three Basic Economic Questions Paper

The economy of Brazil is in the top ten largest economies along with the United States. It is the biggest in Latin America. Actually it is the seventh largest in the world. Brazil has used its newly found economic mechanism to syndicate its outcome in South America and show more of a role in the Global Businesses. The Obama Administration’s National Security Strategy recognizes Brazil as a developing center of effect, and greets the management of the country’s joint and global issues. The United States and Brazil associations mostly have been good in the recent years. But Brazil has other strengthening relations with neighboring countries and expanding ties with nontraditional partners in the South that’s developing.

1. Which of the three economic resources do you feel is the most important? Explain

Countries have different resources which their economy depend on ; For example Saudi Arabia depend on oil export. When oil price is high then their economy become very strong . Countries like, Japan, Korea, and Germany, manufacturing have big part of their economy. Other countries depend on tourism like Turkey, South Africa and Malaysia. A lot of places to visit, big restaurant, malls, theater and nice beaches. Some countries lost big part of their from tourism problems in Egypt , War in Syria and Lebanon kept tourism away . Their economy is down . Big problems bring the world economy down like Greece bankruptcy also china decrease their currency to increase their export.

5. How are the wealth and productivity of a nation usually measured, and what other factors must be considered when evaluating the well-being of a nation’s people?

Imagine that you have decided to open a small ice cream stand on campus called "Ice-Campusades." You are very excited because you love ice cream (delicious!) and this is a fun way for you to apply your business and economics skills! Here is the first month's scenario--you order the same number (and the same variety) of ice creams each day from the ice cream suppliers, and your ice creams are always marked at $1.50 each. However, you notice that there are days when ice creams remain unsold but other days when there are not enough ice creams for the number of customers.

READ: Naked Economics: Undressing the Dismal Science, Charles Wheeland, W.W. Norton, 2003. Completely- cover to cover.

READ: Naked Economics: Undressing the Dismal Science, Charles Wheeland, W.W. Norton, 2003. Completely- cover to cover.

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1. Law enforcement agencies seek for lawbreakers to create problems in which they are fined for crimes they have committed. They want this to happen in order to create fines for these criminals in order for the agencies to make a certain amount of revenue from the fines that the lawbreakers pay as a consequence of their actions. Some laws that law enforcement agencies set up in order to create this type of revenue off of lawbreakers include speeding tickets. The action of speeding can cause more good than harm because of the amount of revenue that speeding tickets can produce, compared to the amount of speeding related automobile accidents that people who

Basic economic models assume that all parties have “perfect information.” How does “informational asymmetry” undermine our market economy?

1) According to the Law of Demand, the demand curve for a good will A) shift leftward when the price of the good increases. B) shift rightward when the price of the good increases. C) slope downward. D) slope upward. Answer: C 2) An increase in the price of pork will lead to A) a movement up along the demand curve. B) a movement down along the demand curve. C) a rightward shift of the demand curve. D) a leftward shift of the demand curve. Answer: A 3) An increase in consumer incomes will lead to A) a rightward shift of the demand curve for plasma TVs. B) a movement upward along the demand curve for plasma TVs. C) a rightward shift of the supply curve for plasma TVs. D) no change of the demand curve for plasma TVs. Answer:

The current economy has hurt many retail businesses. Every month another retail giant closes its doors. Retail stores which we never would have imagined have gone bankrupt. Retail sales have declined greatly. Major cause of this declination is because many people are unemployed and cannot afford to purchase anything. Retailers are forced to discount prices to increase sales, but discounting still hurts margins. Retailers are assuming a very

What is the effect on the equilibrium price and equilibrium quantity of orange juice if the price of apple juice decreases and the wage rate paid to orange grove workers increases?

This research topic is significant to the current property market in Singapore and its sudden increased demand for houses despite the economic downturn, exploring deeper as to whether the government policies were the real influential causes to this boom in property demand. It has relevance to the economic concepts of demand and supply, elasticity, inflation and monopolistic competition. This topic is worthy of investigation because it is a hot media topic in Singapore, and is widely debated in the country because it’s the most expensive household asset.[2]

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