As part of a marketing research committee
for your organization, you have been assigned the task of preparing a 700-word
research paper about current microeconomic thought and theory.
Use Principles of Microeconomics, Chs. 1,
2, 3, 4, 5, and 6, as the source for all your information.
Identify the fundamental lessons the Ten
Principles of Economics teach about:
How people make decisions
How people interact
How the economy as a whole works
Explain the following to help the committee
members understand how markets work:
How society manages its scarce resources
and benefits from economic interdependence
Why the demand curve slopes downward and
the supply curve slopes upward
Where is the point of equilibrium and what
does it determine?
The impact of price controls, taxes, and
elasticity on changes in supply, demand and equilibrium prices
Format consistent with APA guidelines.
