Economics is the social science that deals with the production, distribution, and consumption of
goods and services, or the material welfare of humankind.
As well as the condition of a region or group in regards to material prosperity.
It is necessary to
a. Labor: This is the work required to make the product.
Resources: The materials that make the product
Land: The property used to make products
Capital: the tools and equipment use to make the product
b. natural capital: land, metal, water,
Does Raising the Minimum Wage Help the Working Poor?
Applicable concepts: positive and normative analyses
In 1938, Congress enacted the federal Fair Labor Standards Act, commonly known as the
"minimum-wage law." Today, a minimum-wage worker who works full
Increase in Minimum Wage
November 17, 2016
Minimum wage is the lowest wage permitted by law or by a special agreement (such as
one with a labor union). In 1938, Congress enacted the federal Fair Labor
Which of the components of GDP must increase if we are to
experience greater rates of economic growth?
An increase in outputs which increases employment and wages which
allows for greater access to goods and services. It will increase the tax
base which w
What causes the business cycle?
The business cycle is caused by the forces of supply and demand, the availability of capital, and
expectations about the future.
What is the general cause of all recessions? All expansionary phases of the business cycle?
What can cause an increase in AD and therefore the real GDP and price levels?
Aggregated Demand (AD) is the total demand for final goods abd services in an economy so the
spending side of the economy and an increase in C,I,G and X will cause and increase.
How would one calculate the profit an employer earns from the employment of workers?
For an exact number, you would need the total a business makes
minus how much they are spending on labor, goods, utilities, rent or
mortgage, taxes, and insurance.
Coppin State University
2500 West North Avenue, Baltimore, Maryland 21216-3698
College of Business
Accounting and Information Systems
Principles of Economics I
Subject & Nbr:
Date Syllabus Revised:
ECON 211- BUS1
Dr. Emmanuel Anoruo
September 4, 2016
The Economic Way of Thinking
A trade-off is when one gives something up in order to receive something else. There
would be a few trade-offs that people might experience in the w
ECON 211- BUS1
Dr. Emmanuel Anoruo
September 11, 2016
Demand and Supply
Product: Ford Motor Company
How do markets operate to bring this product into existence?
Ford Motors uses four main points to insure success in the market and k
Hypothesis Testing I
One Sample Tests
The first few weeks we talked about descriptive
statistics: summarizing up the information you have
about a sample.
Now we want to take that information and use it to
make a guess abo
Personal Financial Planning Project
Determine Current Financial Situation.2
Developing Financial Goals.5
Short Term Goal.5
Long Term Goal.6
Best methods to implement strategies to achieve financial goals
Based on the articles I have read about best methods of implementing strategies to
achieve financial goals, I have come to the conclusion that achieving one or several financial
goals start w
Suggestions on how you can choose the best, yet least expensive,
source of credit
As a young person with little to no credit history, applying for a credit card may be pain. With
high interest rate, APR, and other hidden fees such as over the limit fee, c
Financial Planning final exam study guide
- reasons for the high cost of health care
- what is health insurance?
- types of medical coverage
- nature of deductibles and coinsurance
- nature of comprehensive major medical insurance
- long term c
Federal Trade Commission
The federal trade commission website (www.ftc.gov)is a great website for
help in how to choose a credit card if you do not have one already, how to
utilize your credit cards, and how to deal with credit card debt.
How could this i
How much retirement savings will be enough?
When most people think of retirement, we assume that we need millions and millions of dollars
in the bank in other to retire comfortably. But the reality for most people is a whole lot less. It is
okay for every