Week 5 Economics (1).docx - eading Assignment 1 Online...

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eading Assignment 1. Online lectures 2. Week 5 Reading Complete the following reading early in the week: Week 5 online lectures From your textbook, Principles of Economics , read: The markets for the factors of production Earnings and discrimination Income inequality and poverty The theory of consumer choice Week 5 Assignments Overview Assignment Summary: Week 5 Due Date Estimated time to complete Assignment 1: Market Failure: Poverty and Income Inequality Day 3 8 hours Competencies Covered: Explain important considerations involved in discrimination, income Inequality and poverty. Assignment 2: Final Exam Day 6 11 hours Competencies Covered: Explain the market forces that affect supply and demand.
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Describe elasticity and apply it to current economic circumstances. Discuss the role of government policies in supply and demand. Identify the relationship among different types of costs of production. Describe the behavior of firms and major decisions faced by firms in markets characterized by competition, monopoly and monopolistic competition. Explain common causes for the failure of markets to meet the efficiency expectation of perfectly competitive markets.
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