GB540

GB540 Unit 1,2,3,4,5,6 Final

GB540 Unit 1 Assignment

Problem #1: Using either a graph or table (Refer to page 22 for help with graphs and tables) use two goods to construct a production possibilities curve. Clearly explain what a variety of different points on the curve mean. What would make the curve expand or contract? Why is efficiency lost at the extremes, as when substantially more of one good and very little of another is produced?

Types of Production                        Production Alternative

Iphones                                 A         B         C         D         E         F

Batteries                                1          2          3          4          5          6

                                                8          7          6          4          2          0

Batteries

Quantity                                             iPhones (Consumer Good)

The curve demonstrates that quantity is the key. The more batteries that are produced means there will be fewer iPhone’s produced and vice versa. I think the key here is to use moderation. For example, if there were a point on 5, 5 it would represent both iPhones and batteries were being manufactured equally so there will be no surplus or shortage of either product. Anything outside of the curve is unattainable and represents full employment is not being realized.

Problem #2 Part A: Go to the internet auction site eBay® at www.ebay.com and select the category Jewelry and Watches, followed by Loose Diamonds and Gemstones, and then Diamonds, Natural. How many natural diamonds are for sale at the moment? Note the wide array of sizes and prices of the diamonds. In what sense is there competition among the sellers in this market? How does that competition influence prices? In what sense is there competition among buyers? How does that competition influence prices?

There are 182,746 diamonds available for sale currently. The large selection and variety of sizes and shapes influence competition among buyers because when a buyer falls in love with a piece of jewelry, they will spend more money trying to obtain that specific diamond therefore driving the price up past what it would have been had that particular buyer never found it listed on ebay. Many times buyers will try to outbid their competition just because the competitor may have won an item in a previous bid and beat them because they drove the price up so high.

Problem #2 Part B: Describe what would happen if an outside agency determined the prices eBay could charge.

If an outside agency set limitations and guidelines on each item, this would probably drive the prices either extremely high or low. With a set price for each category, the value of each item couldn’t reasonably be uniformly priced without the sellers losing money. If the company were to evaluate each item for their value, they would have to be paid for their evaluation so they would drive the prices up and business would slow down considerably. If they drove the prices down, everyone would lose money since they would only be paid the minimum for items that are valuable.

Problem #3: Read the “LAST word” feature on markets for human organs on Page 66 of your text. Next, select a social problem where free markets are not allowed to function and describe how free market features could be introduced to help alleviate the problem. As part of your answer also include a discussion of the risks of introducing market mechanisms in situations where ethical issues are present. Your answer should be approximately two pages long and in APA format.

(Note: You can write about social problems where the free markets are not allowed to function, which includes the market for a particular illegal good or service, a regulated market, etc.).

Economic Freedom and Wealth

Unit 2 Assignment

According to the law of demand, if price increases, quantity demanded of a good or service will decrease or vice versa. Price elasticity of demand tells us how much quantity demanded will decrease when price increases or how much quantity demanded will increase if price decreases.

On the other hand, according to the law of supply, if the price increases, quantity supplied of a good or service will increase. Similarly, if price decreases, quantity supplied will decrease. The degree of sensitivity (responsiveness) of production/supply to a change in price is measured by the concept of price elasticity of supply.

Total revenue is calculated as the quantity of a good or service sold multiplied by its market price. Thus it is a measure of how much money a company makes from selling its product. The core objective of a firm is maximizing profit. One of the ways to maximize profit is increasing total revenue. The firm can increase its total revenue by selling more items or by raising the price. Among others, this depends on the nature of the price elasticity of demand. Moreover, the length of time is an important factor in determining price elasticity of demand and supply.

·                   Explain the relationship between the price elasticity of demand and total revenue. What are the impacts of various forms of elasticities (elastic, inelastic, unit elastic, etc.) on business decisions and strategies to maximize profit? Explain using empirical examples.

·                   Is the price elasticity of demand or supply more elastic over a shorter or a longer period of time? Why? Give examples.

·                   What are the impacts of government and market imperfections (failures) on the price elasticities of demand and supply?

The Assignment should be a minimum of five pages in length, excluding title page and reference page. Your paper must incorporate several quality references, and it must be organized in APA format.

Submit your paper to the Unit 2 Dropbox by the end of Unit 2.

GB540 Unit 2 Assignment Rubric

Content and Analysis

Points Possible

Points Earned

·                   Explain the relationship between the price elasticity of demand and total revenue. What are the impacts of various forms of elasticities (elastic, inelastic, unit elastic, etc.) on business decisions and strategies to maximize profit? Explain using empirical example.

20

·                   Is the price elasticity of demand or supply more elastic over a shorter or a longer period of time? Why? Give examples.

10

·                   What are the impacts of government and market imperfections (failures) on the price elasticities of demand and supply?

10

·                   Five pages in length

10

·                   Included at least two reliable references

Included the Index of Economic Freedom as a reference

6

Writing Style, Grammar, APA Format

14

Total

GB540 Unit 3 Assignment 

Assignment

For most firms today, success or failure is determined by the ability to find, attract, keep, develop, and tap into the most talented workforce that can be assembled. Use the Kaplan Online Library to search for articles related to this topic. Write a 5-page report outlining what firms need to do in order to bring in the most talented people (from anywhere) and make the fullest possible use of their abilities. Support your paper with at least two articles from the Library. Your paper must be APA compliant.

GB540 Unit 3 Assignment Rubric

Content and Analysis

Points Possible

Points Earned

Paper includes a discussion with an appropriate analysis of success or failure in the following areas:

·       Competition for talent

·       Utilizing talent

·       Ability to find talent

·       Ability to attract talent

·       Ability to retain talent

·       Ability to develop talent

48

·         Paper is the appropriate length

8

Writing Style, Grammar, APA Format, at least two resources are used

14

Fortune 500 Company: Google, Inc.

Assignment

Select a GLOBAL Fortune 500 company (it cannot be one you work for) that operates in the United States and in other nations around the world. You will be using the same firm for the Unit 5 Assignment and the Unit 6 Final Project, so make sure it is one you are interested in and that has plenty of good sources of information available.

Summarize the firm’s history, its recent and current operating results, and the economic, social, and political forces that affect it most.

Present a brief SWOT analysis (Strengths, Weaknesses, Opportunities, Threats).

Discuss the factors it will need to predict, plan for, and adjust to in the future.

The Assignment is to be a minimum of five pages long (title pages, bibliographies, etc., do not count) and in APA format. A good variety of objective, high-quality, current sources need to be used.

GB540 Unit 4 Assignment Rubric

Content and AnalysisPoints PossiblePoints Earned

A global Company was chosen.5 

Paper includes a discussion with an appropriate analysis of the firm’s history.5 

Paper includes a discussion with an appropriate analysis of the firm’srecentoperating results.5 

Paper includes a discussion with an appropriate analysis of the firm’scurrentoperating results.5 

Paper includes a discussion with an appropriate analysis of the firm’s economic forces that affect the firm the most.5 

Paper includes a discussion with an appropriate analysis of the firm’s social forces that affect the firm the most.5 

Paper includes a discussion with an appropriate analysis of the firm’s political forces that affect the firm the most.5 

Paper includes a brief SWOT analysis for the firm.5 

Paper includes a discussion with an appropriate analysis of the factors the firm needs to predict for the future.5 

Paper includes a discussion with an appropriate analysis of the factors the firm will need to plan for the future.5 

Paper includes a discussion with an appropriate analysis of the firm’s the factors that will need to be adjusted to in the future.5 

Paper includes a minimum of three current references.5 

Writing Style, Grammar, APA Format15 

Total

75

Assignment 5 GOOGLE, INC. ECONOMIC INDICATORS

For this Assignment, you are to continue using the same Fortune 500 company you selected in Unit 4. The focus here is on its domestic (American) operations, with global issues left for Unit 6. Begin by reading through the material on economic indicators in theWebliography. Select 6-10 indicators that are of particular relevance to your firm and explain why. Next, outline a strategy for how the firm should respond to the information provided by the economic indicators with the goal of maximizing revenues in the years ahead.

The Assignment is to be a minimum of five pages long (title pages, bibliographies, etc., do not count) and in APA format. A good variety of objective, high quality, current sources need to be used.

GB540 Unit 4 Assignment Rubric

Content and AnalysisPoints PossiblePoints Earned

Used the same global company from Unit 4 Assignment.5 

Selected and defined 6-10 Indicators of particular relevance to the firm chosen.10 

Discussion for each indicator includes:

Explanation of the relevance to the firm

A strategy of how the firm will respond

A goal to maximize revenues for the years ahead

45 

Writing Style, Grammar, APA Format, at least three resources are used.15 

Total

75

FINAL PROJECT PWOER POINT Google lnc

70