Assignment locate 3 topics (DONE) how are the ten principals of economics relevant to each case. How do you determine which one? What questions to ask self to determine the answer? Where to look outside the examples shown in class?I did read the lesson they offer examples not a help to me
What exactly do you need help on?
Here is the assignment Principles of Economics
Principles of Economics.
•Find three current articles aboue the economy I have those Post a 200- to 300-word response identifying one unique principle for each article.
the economy that have been in
the news lately. For each story, identify one
(or more) of the Ten Principles of Economics
discussed in this chapter that is relevant, and
explain how it is relevant. The 10 principle of economics by Makiw these I know
Mary: To find articles, do this.
Go to Google search, click on news at the top. Then you will have a search news box.
I suggest you search on
taxation
trade deficit
trade
dollar collapse
oil prices
that ought to give you plenty of news to ponder for your economic assignment.
Did you mean 10 principles of economics by Mankiw?
Hint: Virtually every economic current- events article can relate to trade-offs and opportunity costs; two of Mankiw's principals. I suggest you start there.
I have to use economicist to get the information
yes it is Mankiw. wish i could use google but information has to come from economicst and recent american economics
To determine how the ten principles of economics are relevant to each case, you can follow a step-by-step approach. Here's how you can do it:
1. Identify the three topics you have chosen.
2. Now, let's consider the ten principles of economics. They are:
a. People face trade-offs
b. The cost of something is what you give up to get it
c. Rational people think at the margin
d. People respond to incentives
e. Trade can make everyone better off
f. Markets are usually a good way to organize economic activity
g. Governments can sometimes improve market outcomes
h. A country's standard of living depends on its ability to produce goods and services
i. Prices rise when the government prints too much money
j. Society faces a short-run trade-off between inflation and unemployment
3. Start by evaluating each principle individually and ask yourself the following questions:
a. Is there a trade-off involved in the case? (Principle a)
b. What costs are being considered in this case? (Principle b)
c. How is decision-making done at the margin in the case? (Principle c)
d. Are there any incentives that influence behavior in the case? (Principle d)
e. Is there any trade involved that benefits multiple parties? (Principle e)
f. How does the market come into play in the case? (Principle f)
g. Are there any government interventions relevant to the case? (Principle g)
h. Does the case involve production of goods and services and its impact on the standard of living? (Principle h)
i. Are there any monetary policies or their impact on prices in the case? (Principle i)
j. Does the case involve a trade-off between inflation and unemployment? (Principle j)
4. Analyze each principle based on your understanding of the case and answer the relevant question(s) associated with it.
5. Aside from the examples shown in class, you can explore various sources to find real-world examples related to your topics. Some good places to look for additional examples can include reputable books on economics, academic journals, news articles, economic research papers, and government reports.
By following this process, you should be able to determine how the ten principles of economics relate to each case and effectively analyze their relevance.