Market Equilibrium

INSTRUCTIONS: 1. Read questions carefully. Answer completely. 2. All five answers should be in one Word document. 3. Write your name at the top of the document. 4. Submit the document through Canvas.   (25 pts) 1. Economics is the study of how economic units make choices. In the context of this definition, explain how you would spend/invest $500,000, which you just inherited. The $500,000 would be used for only the one alternative chosen. You are thinking of the following four alternatives:   • Purchase a new condominium in Hawaii as a vacation home. • Invest in a relatively safe mutual fund, which typically averages a return of 10%. • Take three friends on a month long vacation around the world. • Donate the $500,000 to your favorite charity.   Make sure that your answer addresses the five factors to be considered when making a decision/choice. (5 pts each for the five factors)             (25 pts) 2. You are getting ready to go shopping at the Apple store for an Apple Pencil. Explainthe following concepts in the context of shopping for the Pencil at the Apple store.    a) What would cause a change in the quantity demanded? What would cause a change in the demand for the Pencil? (6 pts) b) Discuss the Pencil in the context of “inferior” good and “normal” good.      (3 pts) c) Discuss the Pencil in the context of “complementary” good and “substitute” good. (3 pts) d) Discuss the Pencil in the context of the price elasticity of demand.      (5 pts) e) Discuss the Pencil in the context of market equilibrium. (4 pts) f) Discuss the Pencil in the context of a change in supply. (4 pts)       (20 pts) 3. Answer the following questions with regard to the public sector:    a) Explain and provide an example of a public good. (4 pts) b) Explain and provide an example of a positive externality and a negative externality. (4 pts) c) Explain and provide an example of a common property rights. (4 pts) d) Explain and indicate the amount of the United States’ Federal Budget       Deficit. (4 pts) e) Explain and indicate the amount of the United States’ National Debt. (4 pts)     (20 pts) 4. In the context of our class discussions, explain the following: a) how the level of wealth could be determined for a country. Indicate the three metrics discussed in class. Be sure to include why the metrics are appropriate. (5 pts) b) explain which resources or factors contribute to the level of wealth for a            ? ?      country. (15 pts)     (10 pts) 5. In class on Thursday, November 19th, we watched an MSNBC video, featuring NYU                  Professor Scott Galloway. In the video, Professor Galloway was asked about whether                 or not stimulus money should have been given to businesses or individuals.     a) What was his opinion and what was the basis of that opinion? (5 pts) b) What is your opinion as to whom the stimulus money should have been distributed? (5 pts)

Struggling to find relevant content? Order a custom essay on
Market Equilibrium
Let our experts save you the hassle
Order Now
Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
Sign up, place your order, and leave the rest to our professional paper writers in less than 2 minutes.
step 1
Upload assignment instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Get personalized services with GPA Fix
One writer for all your papers
You can select one writer for all your papers. This option enhances the consistency in the quality of your assignments. Select your preferred writer from the list of writers who have handledf your previous assignments
Same paper from different writers
Are you ordering the same assignment for a friend? You can get the same paper from different writers. The goal is to produce 100% unique and original papers
Copy of sources used
Our homework writers will provide you with copies of sources used on your request. Just add the option when plaing your order
What our partners say about us
We appreciate every review and are always looking for ways to grow. See what other students think about our do my paper service.
Professions and Applied Sciences
Amazing work!
Customer 452707, May 29th, 2022
Social Work and Human Services
Great Work!
Customer 452587, September 16th, 2021
Thanks for the help, appreciate it
Customer 452821, August 27th, 2022
Human Resources Management (HRM)
Thanks. I am very pleased with my paper.
Customer 452701, August 1st, 2023
Customer 452813, July 5th, 2022
They so amazing work!!
Customer 452707, January 29th, 2023
The paper is well written and professional. I highly recommend
Customer 452485, August 22nd, 2021
Human Resources Management (HRM)
Thanks for your time.
Customer 452701, September 10th, 2023
Strategic Management
Thanks for the help, really appreciate it
Customer 452821, September 8th, 2022
Excellent job on the paper!
Customer 452885, December 28th, 2022
Social Work and Human Services
Thank you for the great job
Customer 452469, February 3rd, 2021
Always a wonderful experience!
Customer 452453, February 23rd, 2023
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat

Save More. Score Better. Use coupon code SPECIAL for a 15%discount