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ECO 561 Entire Course

ECO 561 Week 1 Individual Assignment Market Equilibrating Proces

s Paper
ECO 561 Week 1 DQ 1
ECO 561 Week 1 DQ 2
ECO 561 Week 1 Knowledge Check (Quiz)
ECO 561 Week 2 Individual Assignment Market Equilibration Proces
s PaperECO 561 Week 2 Learning Team Reflection
ECO 561 Week 2 Knowledge Check (Quiz)
ECO 561 Week 2 DQ 1
ECO 561 Week 2 DQ 2
ECO 561 Week 3 Learning Team Reflection

ECO 561 Final Exam Guide (

NEW)
1) Suppose that in the clothing market, production costs have falle

n, but the equilibrium price and quantity purchased have both incr
eased. Based on this information you can conclude that A. the sup
ply of clothing has grown faster than the demand for clothing B. de
mand for clothing has grown faster than the supply of clothing C. t
he supply of and demand for clothing have grown by the same pro
portion D. there is no way to determine what has happened to sup
ply and demand with this information 2) Camille's Creations and Ju
lia's Jewels both sell beads in a competitive market. If at the marke
t price of $5, both are running out of beads to sell (they can't keep
up with the quantity demanded at that price), then we would expe
ct both Camille's and Julia's to: A. raise their price and reduce their
quantity supplied B. raise their price and increase their quantity su
pplied C. lower their price and reduce their quantity supplied

ECO 561 Final Exam Guide (U

OP)
1) In a market economy the distribution of output will be determin

ed primarily by: A. a social consensus as to what distribution of inc

ome is most equitable. B. consumer needs and preferences. C. the
quantities and prices of the resources that households supply. D. g
overnment regulations that provide a minimum income for all. 2) I
n a competitive market economy firms will select the least-cost pro
duction technique because: A. "dollar voting" by consumers manda
tes such a choice. B. such choices will result in the full employment
of available resources. C. to do so will maximize the firms' profits.
D. this will prevent new firms from entering the industry. 3) A leftw
ard shift in the supply curve of product X will increase equilibrium
price to a greater extent the: A. more inelastic the demand for the
product. B. more elastic the supply curve. C. larger the elasticity of
demand coefficient. D. more elastic the demand for the product.

ECO 561 Week 1 DQ 1 (UOP)

What kinds of changes in underlying conditions can cause the supp

ly and demand curves to shift? Give examples and explain the dire
ction in which the curves shift.

ECO 561 Week 1 DQ 2 (UOP)

What is price elasticity? Give examples of five products whose dem

and is price elastic, and five products whose demand is price inelas
tic and elaborate on the choices you make.

ECO 561 Week 1 Individual Assignment Market

Equilibrating Process Paper

We have another paper on Market Equilibration Process Paper wit

h different course description which could be found on this link
http://www.eco561mart.com/ECO-561-Week-2-Individual-Assignmen
t-Market-Equilibration-Process-Paper
Market Equilibrating Process Paper
Write a 700- to 1,050-word paper in which you relate the concepts i
n this week's readings to a prior real world experience. The experie
nce does not necessarily have to be work experience. One note; th
ese word count figures are meant to be a guideline, but feel free to
exceed this if you find it is necessary to adequately provide relevan
t details and clarify important points.

ECO 561 Week 1 Knowledge Check (Quiz)

1. Revenue increases when

2. An increase in the price of an inelastic good
3. Price elasticity of demand increases when
4. The purpose of a market in a market system is to
5. By specializing in the production of one good, a company is able
to benefit from economics of scale which increases its revenue. Wh
ich of the following is an attribute of specialization?
6. The market system promotes progress by
7. Productive efficiency is achieved when
8. The market is asid to be in equilibrium when

ECO 561 Week 2 DQ 1 (UOP)

Cost is a big issue with every company, and changing the technolo
gy is the biggest cost for most companies, how your company was
able to cope with this problem and maintain the level of profit in a
very competitive market?
http://www.eco561mart.com/ECO-561-Week-1-Individual-Assignmen
t-Market-Equilibrating-Process-Paper
Equilibration is the process of moving between two equilibrium poi
nts as a result of some change in supply or demand. Understandin
g how market equilibrium is sought following such a change is esse
ntial for business managers. It is important to understand how eco
nomic principles, and specifically supply, demand

ECO 561 Week 2 DQ 2 (UOP)

Among the types of costs faced by a firm (short-run costs, fixed an

d variable, as well as long-run costs), how can technology help firm
s to lower their costs? What are some specific examples of how fir
ms have used technology to lower costs?

ECO 561 Week 2 Individual Assignment Market

Equilibration Process Paper

We have another paper on Market Equilibration Process Paper wit

h different course description which could be found on this link
http://www.eco561mart.com/ECO-561-Week-1-Individual-Assignmen
t-Market-Equilibrating-Process-Paper
Equilibration is the process of moving between two equilibrium poi
nts as a result of some change in supply or demand. Understandin
g how market equilibrium is sought following such a change is esse
ntial for business managers. It is important to understand how eco
nomic principles, and specifically supply, demand, and their deter
ments are a part of your everyday business decisions.

ECO 561 Week 2 Knowledge Check (Quiz)

1. Purely competitve firms increase total revenue by

2. What are two ways for a competitve firm to determine the optim
al level of production, that is, the level of production that will maxi
mize profit or minimize losses?
3. Suppose that a firm determines that its marginal revenue is grea
ter than its marginal cost, it would be better to
4. It is profitable for a firm to continue employing additional resou
rces as long as
5. As additional units are produced, the marginal revenue product
falls for all firms because marginal product decreases. For firms op
erating in industries that are not perfectly competitve, marginal rev
enue product also falls because

ECO 561 Week 2 Team Assignment Learning Te

am Project Product Pricing Component (Appl
e) Learning Team Assignment: Learning Team Project Product Pricing

Component
Select an organization with which you are familiar or in which you
are interested that provides a private good or service. You will wan
t to focus on the same firm or organization as you work on each Le
arning Team Project assignment in this class as you build the final
paper due Week 6.Examples of good firms to use as a subject inclu
de Southwest Airlines (a very successful airline), Ford (they have no
t declared bankruptcy), Pulte (a successful homebuilder with a hist
orical track record), Whirlpool (their performance is very dependen
t on the economy), Caterpillar, Microsoft, Apple Computer, etc.
1. Describe the utility of that good or service to the immediate con
sumer (which may or may not be another organization) and the co
nsumer needs that the product or service meets.

ECO 561 Week 3 DQ 1 (UOP)

Do you think that competition can be counted on to discipline the i

ndustrial business firms of a modern economy? Explain.
Write a 1,050- to 1,400- word paper where you explain the followin
g in the context of the simulation. One note; these word count figu
res are meant to be a guideline, but feel free to exceed this if you fi
nd it is necessary to adequately provide relevant details and clarify
important points.

ECO 561 Week 3 DQ 2 (UOP)

In your industry, would you support regulation or deregulation an

d why or why not?

ECO 561 Week 3 Knowledge Check (Quiz)

1. A purely- or perfectly-competitive firm would be characterized b

y which of the following?
2. For a purely-competitive firm, price must be
3. What will excessive or economic profits induce for a firm in any i
ndustry structure?
4. A pure-monopoly firms demand curve is also the market deman
d curve. This kind of firm may successfully engage in price discrimi
nation to increase its total profit if it
5. Oligopolies are characterized by a small number of firms where
the top three firms hold the majority of the market. If in an oligopo
ly market, firm A ia almost twice as big as firm B and firm C then

ECO 561 Week 3 Team Assignment Market Struc

tures Simulation (Apple)

Learning Team Assignment: Market Structures Simulation

Write a 1,050- to 1,400- word paper where you explain the followin
g in the context of the simulation. One note; these word count figu
res are meant to be a guideline, but feel free to exceed this if you fi
nd it is necessary to adequately provide relevant details and clarify
important points.
Create a solution using strategic variables available to you to sustai
n the economic profits the firm can earn.

ECO 561 Week 4 DQ 1 (UOP)

How does the Federal Reserve's monetary policy affect your indust
ry's, or company's growth?

ECO 561 Week 4 DQ 2 (UOP)

How would you evaluate monetary policy today? Is monetary polic

y contradictory with fiscal policy? Why or Why not? Support your a
nalysis with examples.

ECO 561 Week 4 Knowledge Check (Quiz)

1. Business cycles occur when output
2. Which of these statements best describes a complete
individual buisness cycle?
3. During the buisness cycle, the period between the poi
nt at which output reaches a high and the point at whic
h it reaches a low is called
4. Which of the following equals the market value of all f
inal goods and services produced in an economy, stated
in the prices of a specific base year?

ECO 561 Week 4 Learning Team Project Macroe

conomic Forecast Outline (Apple)
1. Learning Team Assignment: Learning Team Project M
acroeconomic Forecast Outline: Prepare a brief outline
of the Week 5 Learning Team Project Macroeconomic Fo
recast Component in which you answer the following q
uestions:
1. What are the economic indicators for which you will b
e providing forecasts?
2. It is important to evaluate the historical relationship
between variables in order to explain how one indicator
or variable may impact another. With this in mind, what
sources will you use to obtain historical data for the eco
nomic indicators that you have selected?

ECO 561 Week 5 DQ 1 (UOP)

How does the Federal Reserve's monetary policy affect y
our industry's, or company's growth?

ECO 561 Week 5 DQ 2 (UOP)

How would you evaluate monetary policy today? Is mon
etary policy contradictory with fiscal policy? Why or Why
not? Support your analysis with examples.

ECO 561 Week 5 Learning Team Project Macro

economic Forecast Component (Apple)
Learning Team Assignment: Learning Team Project Macr
oeconomic Forecast Component
Include the following in this paper;
Identify a list of five economic indicators which will be t
he subject of this paper. In addition to real GDP, the une
mployment rate, and the inflation rate, focus on at least
two of the following :
A key interest rate (I suggest the 10-year Treasury rat
e)
Housing starts
Oil prices
Auto sales

ECO 561 Week 6 DQ 1 (UOP)

How much has the growth in international trade impact
ed your company, or industry? Has the devaluation of t
he U.S. dollar impacted your company, or industry? Expl
ain

ECO 561 Week 6 Team Assignment (Final), (App

le)
Learning Team Assignment: International Paper
Resources: The data compiled from the University of P
hoenix Material Big Drive Auto in Week Four (or the m
aterial from your own organization in which you faculty
member has approved)
Write a 700- to 1,050- word paper addressing the follo
wing issues in the context of the scenario:
o Identify and justify the macroeconomic measures of o
utput and prices which you have selected for Big Drive
Autos planning.
o What are the relationships between the organizations
data and the macroeconomic measures you have select
ed?

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