Assignment:
Instructions:
Prepare a research paper as part of a marketing research committee for your organization about current microeconomic thought and theory with a minimum word count of 850.
Students who submit less than the minimum will receive a grade of a D.
Identify the fundamental lessons the Ten Principles of Economics teaches regarding:
• How people make decisions
• How people interact
• How the economy works as a whole
Discuss how the following will directly impact the Organization with specific Applications to help the committee members understand how markets work:
• Current Events and Legislation that may have an impact on the Equilibrium of the Organization.
• How society manages its scarce resources and benefits from economic interdependence.
• Why the demand curve slopes downward and the supply curve slopes upward.
• Where the point of equilibrium is and what does it determine?
• The impact of price controls, taxes, and elasticity on changes in supply, demand and equilibrium prices.
Format consistent with APA guidelines.