ECO 100 Week 4 Assignment 1- Principles of Economics
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Assignment 1: Principles of Economics
Due Week 4 and worth 150 points
Write a two to three (2-3) page paper in which you:
Your assignment must follow these formatting requirements:
•Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
•Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
•Apply the underlying principles of economics and the economic way of thinking to assess market issues and make business decisions.
•Analyze the dynamics of supply and demand to anticipate market equilibrium.
•Analyze the elasticity of demand and supply and its importance, and the effect of taxes or other public policies
•Describe the impact of various forms of competition on business operations with emphasis on perfect competition.
•Use technology and information resources to research issues in principles of economics.
•Write clearly and concisely about principles of economics using proper writing mechanics.
Grading for this assignment will be based on answer quality, logic/organization of the paper, and language and writing skills, using the following rubric found here.
Week 6 Discussion
"The Labor Market and Minimum Wage and GDP and GNP" Please respond to the following:
Review the e-Activities, examine two (2) arguments one for and one against raising the minimum wage, and discuss your findings.
In view of the weak economy of the last several years, explain which of the four components of GDP had, or is having, the greatest positive impact in our economy. Use your results from the second e-Activity to support your response.