MUST
BE NEW AND ORIGINAL WORK NOT GIVEN TO OTHER STUDENTS.Write in a clear, concise, and organized manner;
demonstrate ethical scholarship in the accurate representation and attribution
of sources; and display accurate spelling, grammar, and punctuation. Include
citations in the text and references at the end of the document in APA
format.PLEASE READ INSTRUCTION CAREFULLY. IN TEXT CITATION AND MUST CITE
ALL REFERENCE IN APA FORMAT
Purpose
of Assignment
Week 5 exposes students to
subjects that are intended to whet their appetites for further study in
economics. Students will use the theory of consumer choice and the impact of
the concepts of asymmetric information, political economy, and behavior
economics, to describe how consumers make economic decisions.
Assignment
Steps
Scenario:You have been asked to assist your organization’s
marketing department to better understand how consumers make economic
decisions.
Writea 1,050-word analysis including the
following:
The impact the theory of
consumer choice has on:
·
The role asymmetric
information has in many economic transactions.
·
Demand curves
·
Higher wages
Higher interest rates
The Condorcet Paradox and
Arrow’s Impossibility Theorem in the political economy.
People are not rational in behavior
economics.
Citea minimum of three
peer-reviewed sources not including your textbook.
Formatyour paper consistent with APA guidelines.
