Each DQ response needs to be at least 250 words.

Each DQ response needs to be at least 250 words.

DQ1 - After doing A & B below, why is it hard to have an intelligent conversation with friends/family members, people at work, etc. who ‘primarily use the TV/radio' to discuss economics, and things like the price organic food, or gas and oil? A. Please do the following: 1. Go to the Library tab at the UOPX. 2. Enter the University Library. 3. In library resources, go to Specialized Resources. 4. Scroll to Opposing Viewpoints in Context. 5. In the search engine, write ‘organic food’. 6. Read the 2nd and 3rd articles there: Can you see the discussion is a little like watching a ping-pong match? B. Read the link below. Why do you think the Medical College at one of the U.S.’s best medical schools [Stanford] finds no health benefits with organic food? Do people who spend more think that means it’s better just because the price is higher? Or do you think they read the marketing by the stores that sell it, or another reason?http://med.stanford.edu/ism/2012/september/organic.html

DQ 2 - a. You may have to cut and paste the link into Google to see the video in this DQ [see below]. b. After Katrina, there was the tragic situation in NYC and surrounding areas with Hurricane Sandy. The govt. cracked down [fining] those on Craig's list selling generations to those who need them. Did this 'increase or decrease the number of people with electricity'? Responses to discussion questions are to reflect critical thought and be at least 225 to 275 words in length. When American consumers face inelastic demand, they have various responses. Many flock to Starbucks, Apple, brands like Nike, and buy organic food paying extra or more than alternatives. When they pay for gasoline, or buy needed medicines, they complain and sometimes you will hear the complaint, ‘price gouging’. 1. are Nike, Apple, Intel, Delta Airlines, Victoria Secret, Boeing, BMW, etc. 'price gouging' when they charge higher prices for their brands? 2. Economists, some who earn the highest awards for their research, the Nobel Laureate in Economics, simply point out ‘the Law of Supply’. As price increases, the motivation to supply increases. Please watch the following: http://www.youtube.com/watch?v=R6ojYtKazgQDo you identify with the people in NY City who don’t believe high prices are a good thing? 3. In economics, we often see ‘the law of unintended consequences’. Minimum wage is an example. When minimum wage is increased, a price increase, demanders [employers demand minimum wage workers] demand fewer minimum workers. Other examples are rent control and tariffs to protect US workers.. What do you think of the government policy that put the entrepreneur in jail who tried to bring generators to the areas hit by storms needing generators? Will this cause fewer entrepreneurs from bringing products and services to consumers?

DQ 3 - The topics for this week, market structures, and the 4-types -- perfect competition, monopoly, oligopoly and monopolistic competition ‘are highly technical’ and require study [this is true in studying economics at the college level =:-]. In Discussion/Course Materials, please find a ‘side-by-side’ comparison worksheet. Consider printing it and using it to compare and contrast the various market structures. * In upcoming weeks, getting THESE INCORRECT will cost points. * Using the worksheet, fill out the columns for perfect competition and also monopoly. What are the main differences between perfect competition and monopoly? What is an example of perfect competition? [Be careful with this one; you'll need to use the textbook.] What is an example of a monopoly? Make sure to describe your reasoning.

DQ 4 - In econ, we consider the difference between accounting profit and economic profit. What's the difference? With your employer [or some company you know well], what strategies does it use to 'be more profitable'? a. If there are 'three oil companies', like Shell from England & Holland, BP from England and Exxon from the U.S., what market structure is that? b. How about a gas station in a large city, like Atlanta or L.A. selling Shell gas [and big gulps, candy, cigs, and bottled water, etc. too? What market structure is this? [Hint: it isn't perfect competition; it's another one.] c. How about in a small town, let's call it 'Dead Prairie Dog Wyoming', with a population of 800, and the nearest gas station 600 miles away? What market structure is this?..More on This Topic.....