ECO 365 Entire Course

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365 Week 1 Economic Definitions Worksheet



Economics - Definitions

the following.  Include your references
using APA formatting.



the definition for each of the following:


  1. Law
    of Demand



  1. Law
    of Supply



  1. Price
    Elasticity of Demand



  1. Macroeconomics



  1. Microeconomics




2 Products whose demand is price elastic.


2 products whose demand is price inelastic.


of the following graphs best demonstrates the law of demand?


a)      I

b)      II

c)      III

d)     IV



of the following graphs best demonstrates the law of supply?


a)      I

b)      II

c)      III

d)     IV









365 Week 2 Microeconomics and the
Laws of Supply and Demand


Complete the Supply
and Demand Simulation located on the student website.


 Watch the Khan Academy
Video "Changes in Market Equilibrium" located in the Week 1 Khan
Academy Videos.

Write a 1,050- to 1,400-word paper
summarizing the content of the simulation and address the following: 

  • Identify two microeconomics and two macroeconomics
    principles or concepts from the simulation/video.

  • Explain why you have categorized these selected
    principles or concepts as microeconomics or macroeconomics.

  • Identify at least one shift of the supply curve and
    one shift of the demand curve in the simulation/video.

  • Explain what causes the shifts, and how each shift
    affects the price, quantity, and decision making.

Include responses to the following: 

  • How might you apply what you learned about supply
    and demand from the simulation/video to your workplace or your
    understanding of a real-world product with which you are familiar?

  • How do the concepts of microeconomics help you
    understand the factors that affect shifts in supply and demand on
    equilibrium price and quantity?

  • How do the concepts of macroeconomics help you
    understand the factors that affect shifts in supply and demand on the
    equilibrium price and quantity?

  • How does the price elasticity of demand affect a
    consumer's purchasing and the firm's pricing strategy as it relates to the

Cite a minimum of 3 peer reviewed sources.

Click the Assignment Files tab to submit your




365 Week 3 Current Market Conditions
Competitive Analysis

Imagine you are
part of a strategic planning group at a large corporation that is considering
developing a new proposed product. The marketing director has asked your team
to do a competitive market analysis to determine the product's potential
success. The analysis will focus on your primary competitor in the product's

Select a potential competitive organization and a
product in that organization.

Write a 1,400- to 1,750-word paper analyzing the
current market conditions. Address the following topics:

  • A short history of the organization and a
    description of their product

  • Factors that affect demand, supply, and prices in
    the market in which the competitor organization operates

  • Define the market for your chosen product, including
    an analysis of its competitors, and customers.

  • Any issues or opportunities your organization faces
    that affect its competitiveness and long-term profitability with regards
    to your product: This may include but is not limited to the following

    • Price elasticity of demand

    • Technological innovation

    • The relationship between the amount of labor
      & capital employed and the law of diminishing marginal productivity

    • Cost structure

  • Factors affecting variable costs, including
    productivity and others that change the supply of and demand for labor

  • Factors affecting fixed costs

Make recommendations on how your
organization can maximize their profit-making potential and successfully
compete in the new market. Consider the effect your recommendations may have on
marginal revenues and costs.

Use a minimum of 3 peer reviewed

Format your paper consistent with APA guidelines.

Click the Assignment Files tab to submit your




365 Week 4 Differentiating Between Market Structures


You will apply
important microeconomics concepts toward the competitive strategies of an
organization that operates in an industry of your choice. You will evaluate the
differences between market structures and identify a group of competitive
strategies consistent with the market structure that best aligns with the
market in which the organization competes. You will assess how the market
structure positively and negatively affects the organization's ability to earn
an economic profit over time and evaluate the effectiveness of the
organization's competitive strategies.

Select an industry. Identify an
organization in that industry. Your selected organization must be submitted for
instructor approval.

Identify the market structure in which this
organization competes. Clearly indicate why the market structure was decided
upon and how this market structure differentiates from the other

Describe the level of competition the
organization will face if under each of the following market structures: 

  • Oligopoly

  • Perfect competition

  • Monopoly

  • Monopolistic competition

Identify three or more competitive strategies
of your choice that may be used by the organization to maximize its profits
over the long run. Evaluate the effectiveness of these strategies in the market
structure you identified. Consider the following: 

  • Expected changes in supply and demand

  • Price elasticity of demand

  • Market structure

  • Government regulations

Make recommendations related to the
strategies the organization might consider to maximize its profits and consider
the following: 

  • What are the ethical implications of these

  • Does this strategy align with the organization's
    current values?

  • Does this strategy align with your own values?

Cite a minimum of 3 peer reviewed sources.

Select one of the following two assignment


Option 1: Paper:

Write a 1,400- to 1,750-word paper. 

Format consistent with APA guidelines.

Click the Assignment Files tab to submit your


Option 2: PowerPoint® Presentation:

Create a 15- to 20-slide Microsoft®
PowerPoint® presentation including detailed speaker notes.

Click the Assignment Files tab to submit your




365 Week 5 Competitive Strategies and Government Policies

Select an
organization the team is familiar with and which has a global presence. 

Management in the team's organization has
recognized the effect of changes in the real-world competitive environment and
government policies on other industries and anticipates similar events
occurring in their industry, so they ask you for a report considering the
following points.

Create a 12- to 16-slide PowerPoint® presentation
in which you describe how each of the following are or potentially will affect
your industry or one with which you are familiar:

  • The impact of new companies entering the market,
    mergers, globalization on the market structure, price elasticity of
    demand, pricing, and the sustainability of profits

  • The impact of current and expected government
    policies and regulations, including taxes and regulations in place to
    address issues related to externalities

  • The effect of global competition on the decisions
    made by management with regards to change in labor demand, supply,
    relations with unions, and rules and regulations in your chosen industry

Recommend how the organization you chose may
respond to each of the previous points.

Cite a minimum of 3 peer reviewed

Click the Assignment Files tab to submit your

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