04 Jun Question Macroeconomics- No length requirement as long a
Question
Macroeconomics- No length requirement as long as answers are complete. All sources used,
including the textbook, must be referenced; paraphrased and quoted material must have
accompanying citations. All references and citations used must be in APA style.
1) (Definition of Economics)What determines whether or not a resource is scarce? Why is
the concept of scarcity important to the definition of economics?
2) (Rational Self Interest) Discuss the impact of rational self-interest on each of the
following decisions:
a. whether to attend college full time or enter the workforce fulltime
b.whether to buy new or used textbooks
c.whether to attend a local college or an out of town college
3) (Marginal Analysis) The owner of a small pizzeria is deciding whether to increase the
radius of delivery are by one mil. What considerations must be taken into account if such
a decision is to increase profitability?
4) (Sunk Cost and Choice)Suppose you go to a restaurant and buy an expensive meal.
Halfway through, despite feeling quite full, you decide to clean your plate. After all you
think you paid for the meal so your going to eat it all. Whats wrong with your thinking?
5) (Opportunity Cost) You can spend spring break either at home working $80 per day for
5 days or go to Florida for the week. If you stay home your expenses will be a total of
about $100. If you go to Florida the airfare, hotel, food, and expenses will total about
$700? Whats your opportunity cost of going to Florida?
6) (Specialization) Provides some examples of specialized markets or retail outlets. What
makes the Web so conducive to specialization?
Intercultural Management- Your responses should be at least 200 words in length. You are
required to use at least one APA citation in each response.
1) What is globalization? How does it impact international business? What are important
aspects of globalization? In emerging markets and developing nations, what are some of
the rising nationalist tendencies toward globalization that are becoming evident?
Globalization has both positive and negative effects. What are four unpopular issues
with globalization for Americans? You must provide examples to support your answer.
2) What are regional trading blocs? What are the three largest regional trading blocs? What
countries are members of each bloc? What are differences and similarities among these
three regional trading blocs?
3) The legal environment is a component of international business. What types of laws
regulate international corporations? How do the differences in laws and regulations in
different countries affect international corporations? Provide some examples.
4) Firms operating in some countries are exposed to political risks. What are the primary
types of political risks? Explain each of them, and provide some examples.
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