Using the chapters you studied in your textbook, research, and the Internet, write a 2-3-page, APA-formatted report to answer the following questions. Make sure your analysis is detailed and your findings are clear. Include a minimum of 3 reliable academic or peer-reviewed resources beyond your textbook.
How can software assist in procuring goods and services?
What is e-procurement software? When is it used? What are the top 5 industries using e-procurement software?
Do you see any ethical issues with e-procurement?
In your opinion, should stores be able to block people with smartphones from taking pictures of barcodes to do comparison shopping?
How is e-procurement expected to change in the next decade?
Schwalbe, K. (2016). Information technology project management (9th ed.). Cengage Learning
Print ISBN: 978-1337101356
eText ISBN: 978-1337515856
Supplemental text: assignment research
AXELOS. (2020). ITIL 4 Managing professional: Direct, plan and improve (1st ed.). TSO, Ltd.
Using the chapters you studied in your textbook, research, and the Internet, write a 2-3-page, APA-formatted report to answer the following questions. Make sure your analysis is detailed and your findings are clear. Include a minimum of 3 reliable academic or peer-reviewed resources beyond your textbook.
How can software assist in procuring goods and services?
What is e-procurement software? When is it used? What are the top 5 industries using e-procurement software?
Do you see any ethical issues with e-procurement?
In your opinion, should stores be able to block people with smartphones from taking pictures of barcodes to do comparison shopping?
How is e-procurement expected to change in the next decade?
Schwalbe, K. (2016). Information technology project management (9th ed.). Cengage Learning
Print ISBN: 978-1337101356
eText ISBN: 978-1337515856
Supplemental text: assignment research
AXELOS. (2020). ITIL 4 Managing professional: Direct, plan and improve (1st ed.). TSO, Ltd.
1. The above graph shows the bundle of goods per day and free time per day in a country between 1900 and 2013. When thinking about the difference between 1900 and 2013, which effect is more important on net, the income effect or the substitution effect?
2. What is the definition of conspicuous consumption?
3. Let’s say a country implemented legislation legalizing unions and employment rose. What would we call that phenomenon, and how could we explain it?
4. Let’s say a country implemented a law legalizing labor unions and labor unions became common. Subsequently, employment fell. Based on what you learned in class, what would we call that phenomenon, and how could we explain it?
5. The COVID-19 pandemic clearly had detrimental effects on the economy in 2020. In the 1300s, what was the effect (if any) on wages from the Black Death? Why?
6. What made the Industrial Revolution different than the period of human history that preceded it?
7. What was the first country to experience the Industrial Revolution?
8. If the poorest 10% make half as much as the richest 10% of the population, what is the 90-10 ratio?
9. If British income per capita goes from 3,453 in 2000 to 4,927 in 2001, what is the growth rate of income in that year?
10. Catherine gets a raise at work. She decides to work more as a result to earn more money. What effect does this describe? Why?
11. Juan gets a raise at work. He decides to spend more time with his family since he’s making more money anyway. What effect does this describe? Why?
12. If the wage is unchanged and unemployment benefits rise, what happens to worker effort? Why?
13. If the unemployment rate rises, what happens to the wage-setting curve? Why?
14. If the coronavirus makes it more costly to trade goods internationally, would that tend to move the economy towards autarky (where all goods are produced and consumed in the same country and there is no international trade) or would it move the economy closer to Ricardo’s vision of international trade? Why?
15. If the price of soda is $90, and the marginal cost is $70, what is the markup?
16. What is the relationship between the markup and the elasticity of demand in general?
17. It will help you in this question to refer to your answers to the previous two questions (Questions 15 and 16) as you will need the answers from these questions to answer this one. What is the elasticity of demand for soda?
18. What is the marginal rate of substitution (MRS)?
19. What is the marginal rate of transformation (MRT)?
20. What is true about the relationship between MRS and MRT when a firm maximizes profits?
21. In the above graph, what is the consumer surplus in a market economy where 10 cars are sold?
[Hint, the area of a triangle is 0.5*base*height]
22. In the above graph, what is the producer surplus in a market economy where 10 cars are sold?
[Hint, the area of a triangle is 0.5*base*height]
23. What are economic institutions?
24. Why do economic institutions matter?
25. What is disposable income?
26. What is the definition of Nominal GDP?
27. Take an economy, Quarantine, where only two goods are produced: toilet paper, and hand sanitizer. Is there are 18 rolls of toilet paper sold for $1 each and 20 packs of hand sanitizer sold for $5 each, what is nominal GDP in Quarantine?
Let’s say that the government nationalizes production of these two goods, so that the government now produces 36 rolls of toilet paper (where 18 were produced before) and now produces 40 packs of hand sanitizer (where 20 were produced before), but there are no prices assigned as there is now no buyer and no seller.
28. [10 points] Given this information, can we know what happens to nominal GDP in Quarantine? If so, how much larger is nominal GDP now?
29. [10 points] Given this information, can we know what happens to Real GDP in Quarantine? If so, how much larger is real GDP now?
30. What happens to firm profits if a firm introduces a cost-saving innovation?
31. How does a market economy incentivize firms to adopt new technologies?
32. Explain how cheap coal could be one factor that led to England being the first place to experience the Industrial Revolution.
33. Explain how high wages could be one factor that led to England being the first place to experience the Industrial Revolution.
34. How can countries escape the Malthusian trap?
35. What is opportunity cost?
36. What is the principal-agent problem?
37. What kind of firms are most likely to have a separation of ownership and control?
38. What kind of principal-agent problem(s) does the separation of ownership and control introduce?
39. In the Malthusian Model, let’s supposed that incomes rise because of a new technological discovery. What happens to?
a) The birth rate in the short-run?
b) The birth rate in the long-run?
c) The death rate in the short-run?
d) The death rate in the long-run?
40. Let’s say that Andy can produce 30 apples per hour and 60 bananas per hour and Leslie can produce 60 apples per hour and 60 bananas per hours. Assume that each of them works a 10-hour day.
a) Start in autarky, with Andy and Leslie each spending half their time producing apples, half their time producing bananas, and each of them eating all of their own fruit. How much does each one produce?
b) What is Andy’s comparative advantage? What is Leslie’s comparative advantage?
c) Now assume they specialize in producing the good which they have a comparative advantage in exclusively and they produce none of the other good. How much do they each produce?
d) How much more apples are produced relative to autarky? How many more bananas?
Extra Credit [20 points]:
Using Microsoft Word’s shapes/lines/graphing features (or another alternative which is clear and convenient for me to read), draw a graph of the wage setting curve and price setting curve determining the level of employment and unemployment. For full credit, label the graph fully. As a reminder, you cannot copy and paste here
For the Module Assignment, please answer the following questions:
1. If a consumer’s income increases and if all goods are normal goods, explain how the quantity bought of each good changes.
2. Describe the following concepts: Utility, Total Utility, Marginal Utility and Paradox of value.
3. Jerry has $12 a week to spend on yogurt and magazines. The price of yogurt is $2, and the price of a magazine is $4:
a) List the combinations of yogurt and magazines that Jerry can afford. Draw a graph of Jerry’s budget line with the quantity of magazines plotted on the x-axis.b) Describe how Jerry’s consumption possibilities change if, other things remaining the same, (i) the price of a magazine falls and (ii) Jerry’s income increases.
4. Draw figures that show your indifference curves for the following pairs of goods:
■ Right gloves and left gloves■ Coca-Cola and Pepsi■ Tylenol and acetaminophen (the generic formof Tylenol)■ Desktop computers and laptop computers■ Strawberries and ice cream
For each pair, are the goods perfect substitutes, perfect complements, substitutes, complements, or unrelated?
Specifications
Your assignment should be submitted in a Word document and follow proper APA formatting and a minimum of two pages in length. Proper APA formatting includes a title page, in-text citations, and a formal reference page. You can view more information and examples of sample papers in APA formatting at https://owl.english.purdue.edu/owl/resource/560/01/. (Links to an external site.)
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Enjoy Please Note-You have come to the most reliable academic writing site that will sort all assignments that that you could be having. We write essays, research papers, term papers, research proposals If a consumer’s income increases and if all goods are normal goods, explain how the quantity bought of each good changes
For this assignment you will have to solve some problems related to supply, demand and market prices:
1. The price of food increased during the past year:
a. Explain why the law of demand applies to food just as it does to all other goods and services.b. Explain how the substitution effect influences food purchases and provide some examples of substitutions that people might make when the price of food rises and other things remain the same.c. Explain how the income effect influences food purchases and provide some examples of the income effect that might occur when the price of food rises and other things remain the same.
2. Place the following goods and services into pairs of likely substitutes and pairs of likely complements. (You may use an item in more than one pair.)
The goods and services are: coal, oil, natural gas, wheat, corn, rye, pasta, pizza, sausage, skateboard, roller blades, video game, laptop, iPod, cell phone, text message, email, phone call, voice mail
3. In 2008, the price of corn increased by 35 percent and some cotton farmers in Texas stopped growing cotton and started to grow corn:
a. Does this fact illustrate the law of demand orthe law of supply? Explain your answer.b. Why would a cotton farmer grow corn?
Timely Delivery– primewritersbay.com believes in beating the deadlines that our customers have imposed because we understand how important it is.
Customer satisfaction- Customer satisfaction. We have an outstanding customer care team that is always ready and willing to listen to you, collect your instructions and make sure that your custom writing needs are satisfied
Writing services provided by experts- Looking for expert essay writers, thesis and dissertation writers, personal statement writers, or writers to provide any other kind of custom writing service?
Enjoy Please Note-You have come to the most reliable academic writing site that will sort all assignments that that you could be having. We write essays, research papers, term papers, research proposals. Explain why the law of demand applies to food just as it does to all other goods and services
For this assignment you will have to solve some problems related to supply, demand and market prices:
1. The price of food increased during the past year:
a. Explain why the law of demand applies to food just as it does to all other goods and services.b. Explain how the substitution effect influences food purchases and provide some examples of substitutions that people might make when the price of food rises and other things remain the same.c. Explain how the income effect influences food purchases and provide some examples of the income effect that might occur when the price of food rises and other things remain the same.
2. Place the following goods and services into pairs of likely substitutes and pairs of likely complements. (You may use an item in more than one pair.)
The goods and services are: coal, oil, natural gas, wheat, corn, rye, pasta, pizza, sausage, skateboard, roller blades, video game, laptop, iPod, cell phone, text message, email, phone call, voice mail
3. In 2008, the price of corn increased by 35 percent and some cotton farmers in Texas stopped growing cotton and started to grow corn:
a. Does this fact illustrate the law of demand orthe law of supply? Explain your answer.b. Why would a cotton farmer grow corn?
Timely Delivery– primewritersbay.com believes in beating the deadlines that our customers have imposed because we understand how important it is.
Customer satisfaction- Customer satisfaction. We have an outstanding customer care team that is always ready and willing to listen to you, collect your instructions and make sure that your custom writing needs are satisfied
Writing services provided by experts- Looking for expert essay writers, thesis and dissertation writers, personal statement writers, or writers to provide any other kind of custom writing service?
Enjoy Please Note-You have come to the most reliable academic writing site that will sort all assignments that that you could be having. We write essays, research papers, term papers, research proposals. Explain why the law of demand applies to food just as it does to all other goods and services
Compose an essay of no less than 500 words discussing the topics covered in this unit. Your essay should include the following:
Describe at least three public goods provided by public institutions and how these public goods impact society domestically and/or internationally.
Discuss how demand and supply of public goods is influenced by external, environmental, economic, and political factors.
Discuss Arrow’s impossibility theorem, and give an example of how it can affect the political process, other than the example discussed in the unit lesson and the textbook.
You must use at least one scholarly source in addition to your textbook to complete this assignment. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. All references and citations used must be in APA style.
Set up a Ricardo-type comparative advantage numerical example with two countries and two goods. Distinguish “absolute advantage” from “comparative advantage” in the context of your example. Then select an international terms-or-trade ratio and explain in some detail how trade between the two countries benefits each of them in comparison with autarky. When would either of your countries NOT benefit from engaging in trade? Explain.
write a 2-3 page paper in response to a case study or similar assignment provided by your professor. Student answers are to be clear, well-organized, and specific. Provide a concise, cogent argument and include details to support your response.
CLO2: Assess comparative advantage and all related concepts such as opportunity costs, cost conditions, and the impact of trade on jobs. Explain how the sources of comparative advantage and related concepts such as economies of scale, theories and effects, and the product life cycle theory. (5-9)
The paper uses at least 8 quality peer reviewed and scholarly resources (nonwebsite based ) and 1 textbook-based resource to support his/her argument.
