- Description
XECO/212
The Latest Version A+ Study Guide
**********************************************
XECO 212 Entire Course Link
https://hwsell.com/category/xeco-212/
**********************************************
XECO 212 Week 1 A New House – Readiness
Deciding to buy a house is a lifelong goal for many people. Imagine that you are renting a studio apartment and have just discovered you are having a baby. Your present apartment is small and far from schools and local services. You have decided to move. There are many factors that come into play when making such a large and weighty purchase. Examine the decision-making process from the perspective of an economist.
Consider the 10 Principles of Economics as outlined in Ch. 1 of the text.
Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.
Submit a 250- to 350-word response addressing the following points:
- Which of the 10 principles do you think plays a major role in your decision?
- Provide an example for each about decision-making, interaction, and the workings of the economy.
- Explain how that influences the marginal benefits and marginal costs associated with the decision to purchase a house.
Click the Assignment Files tab to submit your assignment.
XECO 212 Week 2 Price Elasticity and Supply and Demand Short Answer Quiz
Complete the Price Elasticity and Supply and Demand Short Answer Quiz in Appendix B.
Post your completed chart as an attachment.
Click the Assignment Files tab to submit your assignment.
Appendix B
Price Elasticity and Supply & Demand
Fill in the matrix below and describe how changes in price or quantity of the goods and services affect either supply or demand and the equilibrium price. Use the graphs from your book as a tool to help you answer questions about the changes in price and quantity
| Event | Market affected by event | Shift in supply, demand, or both. Explain your answer. | Change in equilibrium |
| Frozen orange crops in California | Orange juice | Supply (left)—Not as many available oranges to offer consumers. | Price will increase and quantity will decrease. |
| Hurricanes in the Gulf Coast
| |||
| Cost of cotton decreases
| |||
| Technology improves efficiency in pasta manufacturing
|
- What do substitutes refer to in economics? Give an example of two substitutes.
- Define “Price Elasticity of Demand.” Give an example.
- Determine if the demand for the following products is price elastic or price inelastic, and explain your answer. In your explanation, be sure to include how the necessity of a good and the availability of substitutes affect the price elasticity of demand in each of these specific cases:
- Gasoline as a commodity
- Gasoline sold at a local gasoline station
- Hotel rooms for people planning a vacation
- Hotel rooms for people on business to meet an important client
- Define the Law of Demand and the Law of Supply. Give an example for each.
XECO 212 Week 2 Supply and Demand Paper
Choose one good with which you have had experience purchasing:
- New home
- New car
- Vacation to a theme park
- Washing machine
- Computer
- College
- Other
Write a 700- to 1,050-word paper explaining factors that affect supply and demand. Include the following:
- Explain factors that could cause possible changes in supply and demand.
- Determine at least two substitutes there may be for your product.
- Determine at least two complements there may be for your product.
- Explain how the necessity of your chosen good impacts price elasticity
Format your paper consistent with APA guidelines.
Post your assignment as an attachment.
Click the Assignment Files tab to submit your assignment.
XECO 212 Week 3 Historical Example of Labor Supply and Demand
Submit a 250- to 350-word response addressing one of the following historical events in terms of labor supply and demand: the Great Depression, the Luddite Revolt, the Black Death, or the technology boom of the 1990s. Include the following:
- What was the impact on the supply and demand of labor on one sector of the labor market?
- Explain the factors that affected labor demand and labor supply in the chosen historical example.
Click the Assignment Files tab to submit your assignment.
12O
XECO 212 Week 4 Market Structures Table and Questions
Complete the Market Structures Table and Questions in Appendix C.
Post your completed table and questions as an attachment.
Click the Assignment Files tab to submit your assignment.
Appendix C
Differentiating Between Market Structures Table and Questions
Fill in the matrix and describe differences in public and private goods, common resources, and natural monopolies. Use your book and the Tomlinson video tutorials as a tool to help you answer questions about market structures.
|
| Example | Is there a rival in consumption? | Is it excludable? |
| Private Good | |||
| Public Good | |||
| Common Resource | |||
| Natural Monopoly |
- What is the difference between a public good and a private good?
- What is a common resource?
- What is a natural monopoly?
XECO 212 Week 4 Maximizing Profits in Market Structures Paper
Consider competitive markets, monopolies, and oligopolies. What role does each of these play in an economy?
Write a 1,050- to 1,400-word paper on Market Structures and Maximizing Profits. Address the following:
- What are the characteristics of each market structure?
- How is price determined in each market structure in terms of maximizing profits?
- How is output determined in each market structure in terms of maximizing profits?
- What are the barriers to entry, if any?
- What role does each market structure play in the economy?
Format your paper consistent with APA guidelines.
Post your assignment as an attachment.
Click the Assignment Files tab to submit your assignment.
XECO 212 Week 5 A New House – Risks and Benefits
The government and the fiscal policy it implements play a large role in the housing market. In this CheckPoint, you examine how government policy has consequences for you and the decision to buy a house. This helps you consider situations and alternative decisions in your final project.
Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.
Evaluate the health of the housing market for the next two years by researching forecasts for mortgage rates, housing starts, and housing prices. The following websites provide a starting place for your research:
- Mortgage rates: http://www.realtor.org
- Housing starts: http://www.nahb.org
- Housing prices: http://www.mbaa.org
Submit a 250- to 350-word response addressing the following questions:
- Which government bodies influence national fiscal policies that potentially affect the housing market?
- What are some national fiscal policies that can affect mortgage rates, housing starts, and housing prices? Be sure to provide specific examples.
- What is your recommendation as to the risks and benefits of purchasing a home based on these considerations?
Click the Assignment Files tab to submit your assignment.
ppendix Cnopoly
XECO 212 Week 6 Money
Resource: Money: Its Functions and Characteristics
Submit a 250- to 350-word response addressing the following points:
- Money acts as a unit of account, medium of exchange, or a store of value. Describe each of these different functions.
- Provide an example of your use of money in each of these different functions.
Click the Assignment Files tab to submit your assignment.
XECO 212 Week 6 Money Train Multimedia Activity
Resource: Money Train Multimedia link.
Complete the Money Train Multimedia Activity.
Post your three responses as an attachment.
Click the Assignment Files tab to submit your assignment.
XECO 212 Week 7 A New House – Economy
The difficulties of the economy affect many of the decisions you make as a consumer. No more so than when you are buying a house. The health of the economy is a factor you must consider when buying a house. Sometimes the economy favors sellers and at other times it favors buyers. This CheckPoint helps you refine your decision to buy a house; it prepares you to explain in your final project how the strength of the economy, government spending, and taxes affect the marginal costs and benefits of your decision.
Consider the role of government bodies that affect the strength of the economy.
Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.
Submit a 250- to 350-word response addressing the following points:
- Explain how the strength of the economy as a whole could affect the marginal benefits and the marginal costs associated with a decision to purchase a home.
- How does the removal of the tax deduction on mortgage interest affect the housing market?
- How do other changes in government spending and taxes affect your decision?
Click the Assignment Files tab to submit your assignment.
XECO 212 Week 8 International Trade Debate
Post a 250- to 350-word response to the following debate topic: The United States must place high tariffs and use quotas to restrict trade with foreign countries.
Consider the following issues:
- The strength of the dollar on domestic and global economies
- Benefits from tariffs or quotas
- Losses from tariffs or quotas
Click the Assignment Files tab to submit your assignment.
XECO 212 Week 8 International Trade Simulation
Complete the International Trade Simulation.
Write a 1,050- to 1,400-word report advising the President of Rodamia making recommendations for international trade. Address the following:
- List at least one advantage and one limitation of international trade you encountered in the simulation.
- Define absolute and comparative advantage in your own words.
- Explain how absolute and comparative advantages were used in your simulation.
- Describe the influences affecting foreign exchange rates.
Format your report consistent with APA guidelines.
Post your assignment as an attachment.
Click the Assignment Files tab to submit your assignment.
XECO 212 Week 9 A New House – Decision
Review the final project criteria in Appendix A.
Write a 1,750- to 2,450-word word paper in which you decide whether to purchase a house.
- Discuss which principles of economics directly relate to your purchasing decision.
- Compare the marginal benefits and the marginal costs associated with your purchasing decision.
- Explain how the strength of the economy as a whole affected the marginal benefits and the marginal costs associated with that decision.
- Consider the roles of the domestic economy and international trade in your assessment of the strength of the economy.
- Determine what situations or conditions could have led you to make a different decision.
Assume for this project that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.
Use three to five references in your paper.
Format your paper consistent with APA guidelines.
Post your paper as an attachment.
Click the Assignment Files tab to submit your assignment.