Essays

Hello Mr. Glen,

I hope your day is going as well as to be expected. If you can edit, APA format and use the provided information to create the slide for these 3 assignments A and B I need 2night. I can wait till tomorrow for C and D.

My email is kasde.kimble@gmail.com

A due 2night

Does this makes since if not can you clean my answer up

Question

The OPEC cartel is considered to be a classic example of an oligopolistic market structure. With respect to how the OPEC cartel operates, what would be a documented case of explicit collusion consistent with a game theoretic approach?

My Answer

After researching I learned that “The Organization of Petroleum Exporting Countries (OPEC) is a group consisting of 12 of the world's major oil-exporting nations. OPEC was founded in 1960 to coordinate the petroleum policies of its members, and to provide member states with technical and economic aid”. (investopedia.com). With this in mind there has to be many documented cases referring to the emulous disagreements in the oil industry. For example, Columbia Circuit Court of Appeals actions in processing a lawsuit against OPEC. (www.ftc.gov). Keeping in mind that the OPEC group has the control to stiffen prices and regulate the quantity of crude oil. Doesn’t this disobeys a passage in the Sherman Act? As a result of their cleverness and addictedness to imported petroleum we as the drivers are feeling the effects of skyrocketing gas prices. Personally, this reminds me of a game theoretic model of a football game. I believe that the OPEC needs to level the playing field and realize that they need the citizens of this world and vice versa.

http://www.investopedia.com/terms/o/opecbasket.asp

https://www.ftc.gov/sites/default/files/documents/public_statements/prepared-statement-federal-trade-commission-solutions-competitive-problems-oil-industry/opectestimony.pdf

B due 2night

Current Market Conditions Competitive Analysis

o Due Feb 06, 11:59 PM

Purpose of Assignment 

Students will develop cost curves on which firm behavior is based and will utilize these cost curves to determine the behavior of their chosen organization in the market served. Using the concept of comparative advantage, students analyze trade opportunities and use the model of supply and demand to explain factors that could affect demand, supply and prices. Students will determine various factors that could affect their organization's total revenue and will recommend actions the firm could use to maximize their profit and their presence in the market served. 

Assignment Steps 

Scenario: You have been given the responsibility of working with your organization's CEO to do a competitive market analysis of the potential success of one of their existing products. 

Research an organization and a product produced by that organization in which an analysis can be conducted. 

Write a 1,750-word analysis of the current market conditions facing your product, making sure you address the following topics:

Define the type of market in which your selected product will compete, along with an analysis of competitors and customers.

Analyze any comparative advantages and international trade opportunities. Explain the factors that will affect demand, supply, and prices of that product. Examine factors that will affect Total Revenue, including but not limited to:

o Price elasticity of demando Factors that influence productivityo Various measures of costs, including opportunity costso Externalities and government public policy and their effect on marginal revenue

and marginal cost Recommend how your organization can maximize their profit-making potential and

increase their presence within the market served by the product. 

Cite a minimum of three peer-reviewed sources from the University Library.  YOU WILL NEED TO LOOK AT THE PDF FILES

Introduction-

These papers will inform you about BP and how their products are beneficial to consumers. “BP delivers energy products and services that people around the world need. Our Upstream segment is responsible for oil and natural gas exploration, field development and production. Our Downstream segment is focused on the refining and marketing of fuels, lubricants and petrochemicals”. ( bp.com)This is an organization that supplies the people in society with Natural Gas and Oil. We all know those products are needed for energy for heat and to put fuel in our cars. These are products that are essential to the consumer and are need daily. The paper will discuss the organizations business model and the way the organization marketing. There will be examples provided. The analysis will provide you with an outlook on one of our current products. I will try to make you understand the future success we can have with this product. Elaborate on the international trade opportunities. Explain the affects that supply and demand for this product. The main focus is to show how this product is doing on the market.

Student researched an organization and product from which an analysis can be conducted. The reason why this organization is going to be successful is because it is selling product that will always be needed. The reason I choose natural Gas and Oil is because it is a product that is used in many countries. This is a product that is easy to trade internationally. There is a lot of information about Oil and Gas. So many different companies and countries depend on these products. The article Oil reserve life and the influence of crude oil prices: An analysis of Texas reserves states” The value of an oil producing Exploration and Production (E&P) company depends on the amount of proved reserves it has available for production”. The analysis will show the different how the product is doing in the market. This will allow you to see the different segments of the organizations ability to market and sell the product. That is why it is important to stay up to date with all your information about the market. Always want to stay ahead of the competition.

Student defined the type of markets their selected product will compete in along with an analysis of competitors and customers. When someone is trying to sell Natural Gas and Oil you would of course want customers. In any business or organization. You will have your competitors. That will always want to beat you in any way possible. This is a product that is at a high demand. After doing some research I learned that Natural Gas is more likely to becoming the fastest growing fossil fuel and coal is nine times out of ten more likely to loss markets shares. The article Long term climate change mitigation goals under the nuclear phase out policy: The Swiss energy system transition states” Heavy dependence on fossil fuels in the global energy system has created key challenges for climate change mitigation and energy supply security”. There are different markets you can look at when it comes down to natural gas. For example there are two main types of ways to marketing natural gas. If a person is marketing natural gas they

have a lot to take into consideration. The analysis basically informs you about the product and gives data about the percentage of carbon monoxide and oxygen that is being distributed due to the natural gas.Student analyzed any comparative advantages and international trade opportunities.As a person looks at the different markets. The question they must ask themselves the price of the product or good that their trying to sell. Will it prevail in the world market? International trading is a huge step for any country to take on. The trade with different nations is usually based on comparative advantage. This interaction usually benefits each nation. When you compare your world price against your domestic price it will allow the trade to have options. The purpose and benefits of Internationally Trading is it allows are citizens and consumers a chance to get different products. It definitely helps the cost. It creates competition.” Lower costs through economies of scale. Some goods can be produced at low cost only if they are produced in large quantities—a phenomenon called economies of scale. A firm in a small country cannot take full advantage of economies of scale if it can sell only in a small domestic market. Free trade gives firms access to larger world markets and allows them to realize economies of scale more fully”. (Mankiw, N. Gregory (2015). This usually makes people want to use their brains and come up with ideas that will enhance the organization. Which allows the organization to reach their goals.

Student explained the factors that will affect demand, supply and prices of their product choice. This product is not very easy to supply and has very high demand. As we invest more it helps to make the supply gain. This allows us to structure the demand. As I reviewed some information I learned that natural gas and oil is a part of the world industry. The product is needed internationally. If you look at the demand side of things it is apparent that there is a strong growth in the consumption of energy. Through our organization an average barrel of crude oil was about $53.00 in 2015. We have to look at all the world events. For example there was the Russian Oil Exports, Yom Kippur War and we have to think about when Iraq invaded Kuwait. “The economy is governed by two kinds of laws: the laws of supply and demand and the laws enacted by governments. In this chapter, we have begun to see how these laws interact. Price controls and taxes are common in various markets in the economy, and their effects are frequently debated in the press and among policymakers”.( Mankiw, N. Gregory (2015). These are just some of the key factors that will affect the supply and demand of this product.

Student examined factors that will affect Total Revenue including, but not limited to, price elasticity of demandThe price elasticity of demand shows the quantity demanded to a change in a price. The organization has to measure how much the percentage change. One must discuss elasticity of demand in general terms compute and reflects that the change in the quantity demanded is proportionately larger than the change in price. The total revenue and the Price Elasticity

of Demand of a product or good. Reflects the amount that is paid by buyers and received by sellers of that good or product. It reflects the amount the amount that is paid by buyers and that is received by sellers of that good or product. One must look at elasticities for society’s point of view.” We obtain the opposite result if demand is elastic: An increase in the price causes a decrease in total revenue”.( Mankiw, N. Gregory (2015). The information showed us the factors that affect total revenue and the elasticity price of demand. The factor is the quantity.

and factors that influence productivity, There are a lot of differences in the way people in society lives these days. The countries are different this affects productivity of the amount of goods and services that can be produced with the amount of labor that is being put in. Some countries look at how much can a worker produce in a certain amount of time. There are other nations that base their living standards on the fact of their income. Others look at what their workers can produce can produce a large quantity of products per hour. For example say the United States of America had a organization makes a thousand cups per hour. They had 10,000 organizations that make cups. Just imagine the revenue the country would bring in.” Similarly, the growth rate of a nation's productivity determines the growth rate of its average income. Productivity the quantity of goods and services produced from each unit of labor input”. (Mankiw, N. Gregory (2015). Those are some of the factors.

various measures of costs, including opportunity costs, Some people don’t make rational decisions when it comes down to cost. For example look at the cost of college for instance. “The opportunity cost of an item is what you give up to get that item. When making any decision, decision makers should be aware of the opportunity costs that accompany each possible action. In fact, they usually are”. (Mankiw, N. Gregory (2015). When you think about the cost of things there are some key factors. People see things and regardless if it is a need or want they produce that opportunity cost to obtain that item. That is why people face trade-offs with other people. Then everyone wants to compare what they are gaining to the cost of the product or good. For example one could look at an average college student that plays football and they’re good. They would have the option of playing pro football. The revenue would definitely be more. On the other hand a more rational college student may look at the fact that the degree is more important and what they could do with it.

externalities and government public policy, If you want to talk about Externalities a person would have to look at the effects that they have on today’s markets. Sometimes business impacts one’s personal actions. Externalities and market inefficiency has it effects on the economic well-being of the market. Some buyers and sellers neglect the fact of their actions. These buyers and sellers don’t look at how much the demand or supply is for the product or good. Those types of buyers and sellers made the market not efficient when there are externalities. Thinking about the cost to society for producing certain products or goods.” At any given quantity, the height of the demand curve shows the willingness to pay of the marginal buyer”.( Mankiw, N. Gregory (2015). This is what causes market failure. The government has different policies. There is a command and

control policy that expresses regulation. I know that every business and organization has certain policy’s that that their staff has to follow.

and their effect on marginal revenue and marginal cost.The information provided shows us that there are various types of costs. There is an average total cost, average fixed cost, average variable coat and marginal cost. A person has to remember that there can be an increase in the total cost that comes from extra production. That is why there are cost curves and they have their own particular shapes. Then you have marginal revenue this like changing the total revenue from an additional product that is being sold. This is the main goal of a competitive firm is to make as much profit as possible.” marginal revenue, which is the change in total revenue from the sale of each additional unit of output”.( Mankiw, N. Gregory (2015). The purpose of a business is to obtain revenue and beat their competitors by selling more of the product or good. This is what allows an organization to grow and bring their profits to all time high.

Student recommended how their organization can maximize their profit making potential and increase their presence within the market served by the product.

When a business or organization is thinking about maximizing their profits. First they must measure the profits for that competitive firm. The supply curve helps you to examine the market with a number of the firms. There is a process of entry and exit. There is a shift in demand. This is the whole point of market conditions.” Notice that if firms have different costs, some firms earn profit even in the long run. In this case, the price in the market reflects the average total cost of the marginal firm—the firm that would exit the market if the price were any lower”. (Mankiw, N. Gregory (2015). The competitive market has it long-run supply curve might slope upward. That allows the organization to think about profit making potential and the increase that their presence within the market by the product. An incentive that induces a person to act. Are the decisions of the planner being replaced? The government enforced property rights. Market Failure is which is when the market left. Fails to allocate resources efficiently.

Conclusion The conclusion is that oil and natural gas is at a total demand. A organization or business. That you want to be successful. The current products that BP has to offer are fuel and credit cards and lubricants. According to “Another perspective on gasoline price responses to crude oil price changes” Oil price volatility, however, can increase the price of gasoline through other channels. In particular, it increases the refiners' adjustment and transaction costs and raises the uncertainty about their profit. For example, the refiners adjust their facilities in advance based on the expected level of inventories, which depends on a range of factors including the price of crude oil”. In conclusion you have to consider the fact that fossil fuel is becoming fast growing and its profits are rising. We have to reflect our opinions on the marginal revenue and its cost. These products have a high supply and demand. International trading will always be needed. A person also has to into consideration how externalities can impact a business even if they are positive or negative. Remember that there is a

competitive society that we are in. Overall the competitive market has it long-run supply curve might slope upward. The government has enforced by the property.

The paper is 1,750 words in length.

Check Pdf files and cite

ReferencesMankiw, N. Gregory (2015). Principles of Microeconomics (7th ed.). Stamford, CT: Cengage Learning.

WWW.BP.COM

C

The Economics of Labor Marketso Due Feb 7, 11:59 PM

Select an organization with which you are familiar or an organization where you work. 

Develop a 15 slide Microsoft® PowerPoint® presentation to be presented to the CEO's executive committee that addresses how your chosen organization(http://www.bp.com/ determines what quantity of labor to demand and what events could shift the demand and supply of that labor. 

Explain the following in your presentation:

How your organization's production function is related to its marginal product of labor. How your organization's marginal product of labor is related to the value of its marginal

product. How your organization's marginal product is related to its demand for labor Examples of events that could shift the demand or supply of labor and why they do so. Reasons a worker's wages might be above the level that balances supply and demand. An analysis of the impact that government policies addressing income inequity and

poverty could have on labor demand or supply. 

Cite a minimum of three peer-reviewed sources not including your textbook. 

The Economics of Labor Markets Can you use the information I have an create a 15 slide presentation

Introduction Slide

A. Show the global patterns of energy supply and demand.B. Inform the committee of our organizations future trading opportunities.C. Explain what quantity of labor to demand and the events could shift the demand

and supply of that labor.D. Express why there is a demand on labor.

In this I will let the committee know about the different events that could shift the demand or supply. The event could be an increase in minimum wage. The change in income Increase in unemployment benefits. The presentation will present information about the organization production function. Show the marginal product of labor. Inform the committee about the reasons for workers’ wages and the steps the organization could take that will help to balance supply and demand. A product like natural gas or oil is needed. There will always be a demand for those products. This will require a quantity of labor to demand. A organization like BP has something that is wanted internationally. The company should try their best to minimize any events that could shift the demand and supply of that labor.

Slide 2 -how your organization's production function is related to its marginal product of labor.

A. What is the point of product labor? B. Explain the organizations the elements of the production function. C. Talk about the marginal product of labor. D. Show the relationship between production function and marginal product of

labor.

I feel that BP’s marginal product has its additional units of the output being produced. One would believe if more labor was put into the production function the marginal product would have to increase or decrease. Labor is a key factor when it comes to the elements of the production function. This will lead the organization to economies and diseconomies of the scale. Over the years labor has become a huge part of every organization. Some say there is a direct relationship between production function and the marginal product of labor. “In the simplest static model of a competitive labor market, the relationship between productivity and wages is straightforward: wages equal marginal product”. (bls.gov).It is a competitive market that we are in and there is revenue that has to be made. The question is how far is your organization is willing to go to obtain it.

Slide 3- How your organization's marginal product of labor is related to the value of its marginal product.

A. Focus on the marginal product of labor and its increase. B. How the organization deals with the marginal value of labor. C. Explain how the organization needs in revenue. D. The effects that the marginal product of labor has on the organization.

In this society it is important to know how an assembly process will scale. The marginal product of labor shows the increase of output as the employees increased. When you look at BP’s marginal product of labor it shows the increased volume of a good or product produced by every unit of labor that is added. The marginal value of labor is the marginal product of labor multiplied by the value of the items produced. At our organization marginal value is use to make the right decisions when it comes to hiring. This has helped our organization to increase revenue that has to exceed the wages given to our staff. “ Note that the change in output is not limited to that directly attributable to the additional worker”.( boundless.com). I am just glad that I was able to analyze our organization from both angles. This is information is needed.

Slide 4 - How your organization's marginal product is related to its demand for labor

A. To inform the committee about the demand for labor. B. Talk about the change in technology. C. Explain the importance of production. D. BP is a driven.

Our organization is increasing the marginal product this will increase the demand for labor. The BP has to look at why there is a demand labor. The demand curve for labor has shifted before. This made change in the productivity of the organizations labor. Then the organization had to deal with the change in technology. These things caused the organizations to change the prices of the products that we were producing. It also changed the number of the competitive firms hiring the labor. Production is a key resource BP has to produce their services. The demand labor has an input to the production. The organization thought as if it was the marginal cost. “The firm's demand for labor is a derived demand; it is derived from the demand for the firm's output”. (cliffsnotes.com). It just shows how the organization is driven to make sure that we are fair.

Slide 5- Examples of events that could shift the demand or supply of labor and why they do so.

A. Why changes became a factor. B. Explain BP’s history. C. Talk the events that could shift the demand. D. How BP utilized Alaska’s oil and gas resources.

The organization could experience a shift in the demand for labor because of technological change. The changes in supply can become a factor. These things happen because the BP is the only one that is selling oil and gas. For example BP has spent over fifty years exploring and coming up with ideas. That the organization eventually utilized on Alaska’s oil and gas resources. After looking at BP’s history Prudhoe Bay started production in the late 70’s it has generated more than twelve billion barrels of oil. This happened because of the oil recovery that BP had pioneered. “An increase in the demand for labor will increase both the level of employment and the wage rate”.( boundless.com) These are some of the events that could shift the demand of labor. Some even question if the demand for shifts more than the supply of the product.

Slide 6- Reasons a worker's wages might be above the level that balances supply and demand.

A. The reasons why workers’ wages changes. B. Explain the effects that laws interfere with the wages. C. Talk about unions. D. inform the committee about the only strike BP has had.

I believe if we began to talk about reasons why workers’ wages could rise above the level that balances supply and demand. We could talk all day. Some people are just lucky to be a part of an economy that doesn’t have to deal with certain laws because of their equilibrium wages and the work environment that they are in. Then we have to consider the fact that some of the employees benefit because of the minimum wage laws. That forces the organization to raise the employee wages above the amount they would have earned in an unregulated labor market. BP has unions for their workers. We have not had a strike.” A third reason for above-equilibrium wages is suggested by the theory of efficiency wages”.( Mankiw, N. Gregory (2015). The only strike BP has had is lighting strikes due to the wind energy.

Slide7- An analysis of the impact that government policies addressing income inequity could have on labor demand or supply. 

A. The impact government policies have on income inequality. B. The workers’ rights. C. Reasons why workers’ wages get lowered. D. How the United States has quite a bit more inequality then other nations.

An organization has to think about the way society chooses to reduce the level economic inequality. There are some key factors to take in to consideration the government will have their certain policies. That will impact BP. Note people should expect a total equality of income at all times. We could come up with numerous reasons. I learned society will try to do anything in their power to lower workers earnings. Especially, after that person retires. Don’t let a person want to work long hours to obtain a nice car, take care of the kids or maybe just simply want a vacation. Income inequality is something that no worker should have to deal with. “Countries are ranked by inequality, the United States ends up with a bit more inequality than the typical country”.( Mankiw, N. Gregory (2015). This is the current analysis that is on our nation and organization.

Slide 8-An analysis of the impact that government policies addressing poverty could have on labor demand or supply. 

A. The impact of government policies. B. Discuss tax and the incentive is has on the supply labor. C. Explain how the policies benefit. D. Talk about poverty.

Poverty people have insufficient income to afford the basic can be reduced through both supply. The impact demand side of the government policies. The tax has an incentive on the supply of labor. BP continues to find ways to help reduce inequality and poverty. The government tries to put policies in place that they think will benefit everyone. There are objectives that BP has to consider. Recently BP heads discussed some of the major issues in the international energy scene with some government officials and industry experts. The discussions provided prospective and analysis on different strategies, risks and the impact the policies have on the organization. ” Income is a flow of money received, often measured on a monthly or an annual basis; wealth is the sum of the value of all assets, including money in bank accounts, financial investments, a pension fund, and the value of a home”. (opentextbc.ca).Of course BP wants wealth for the workers as well as the organization. This allows us to have better pension plans.

Conclusion slide-9

A. The impact government policies.

B. The events that could shift demand and supply. C. Marginal product of labor. D. To give an overall outlook of the presentation.

In conclusion this presentation was put in place to inform the committee of the marginal product of labor. The presentation let the committee know about the different events that could lead up to a shift the demand or supply. The information explained the difference between marginal value of labor and marginal product of labor. The presentation talked about the increase in revenue that has to exceed the wages given to our staff. The organization increased the demand for labor. BP was looking for answers. Technology had a huge part in the shift. Then we have to take a look at other competitive firms. Minimum wage laws become part of the discussions. Showed the reasons why some of the workers benefited from the economy that they were in.

Reference slide-10

 Mankiw, N. Gregory (2015). Principles of Microeconomics (7th ed.). Stamford, CT: Cengage Learning.

Bureau of Labor Statistics (http://www.bls.gov/).

http://www.investopedia.com/university/concepts/concepts6.asp

Source: Boundless. “Marginal Product of Labor (Revenue).” Boundless Economics Boundless, 26 May. 2016. Retrieved 20 Jan. 2017 from https://www.boundless.com/economics/textbooks/boundless-economics-textbook/inputs-to-production-labor-natural-resources-and-technology-14/demand-for-labor-78/marginal-product-of-labor-revenue-298-12395/

https://www.cliffsnotes.com

https://opentextbc.ca/principlesofeconomics/

D

Theory of Consumer Choice and Frontiers of Microeconomics

o Due Feb 8, 11:59 PM

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. 

Write and present a 1,050-word analysis including the following: 

The impact the theory of consumer choice has on:          o Demand curveso Higher wageso Higher interest rates

The role asymmetric information has in many economic transactions. The Condorcet Paradox and Arrow's Impossibility Theorem in the political economy. People are not rational in behavior economics. 

Cite a minimum of three peer-reviewed sources not including your textbook. 

Introduction- Working in an organization such as BP the marketing department plays a huge part in the success of the business. I just want to assist the employees that are in marketing to understand how consumers in society make economic decisions. A person has to look at the demand curve in economics it’s just a representation of the relationship between the product prices. We all know that a quantity of the product is demanded. Then there will be a discussion about higher wages and why they are needed. The ways we could obtain higher wages. What does the employer say when an employee request higher wages. This paper will include a lot of needed information. The information that will be provided will help you to make better decisions in the choices you make pertaining BP.” Economists use the term competitive market to describe a market in which there are so many buyers and so many sellers that each has a negligible impact on the market price”.( Mankiw, N. Gregory (2015).

Student’s analysis includes the impact the theory of consumer choice has on:a. Demand curves132

The organization has to look at the demand curve from an economical point of view. BP has to look at the price of a product from has a person in the marketing would. This includes the amount of the consumers that are in the market. The prices of the goods that are substituted. Then BP has to think about the change of consumer prices expectations and its personal income. The change is because of situations like these which cause a change in demand. The organization has to focus on the quaintly demanded that allows us to know what buyers are willing able to purchase from our organization. According to chapter four of the textbook” The line relating price and quantity demanded is called the

demand curve”.( Mankiw, N. Gregory (2015). This is why a person in the marketing department has to utilize every skill that have when it comes down to this organization.

b. Higher wages Everyone in any organization or business would want higher wages. I believe we all deserve more for the work we are doing. Some look at the ways they can receive higher wages. If we involve the average working citizen. They would love to know the best way they could obtain more funds. Just think if the organization was forced pay the employee a fair pay it could save the government so much money. According to https://www.bloomberg.com” Beyond tipped workers, women at large benefit in equal treatment states where "the wages are higher, the poverty rates are lower, and there is less inequality,'' said Jasmine Tucker, director of research at the law center”. It is apparent that we all want to make excuses or have an opinion on why wages were given to certain workers because of their gender. This is why the organization has to think about what is best for them moving forward. This is why a business should already have a certain price set that way it is on the worker if they are willing to except that pay.

c. Higher interest ratesInterest rates matter in many different ways that can and will affect the outcome of the United States economy. I believe that everyone would want a low interest rate. The way the United States government may raise then lower interest rates or the interest rates may be higher if you are trying to obtain a new home. The funds that the people in society borrow from the government or independent source has an interest rate. It is clear that wealth will always effect or differs slightly from the income effect. When BP talks about their demand curves. We can look at them in different angles. I believe it depends on how you are trying to explain the demand curve. It also depends on the good or service you are providing. The https://www.boundless.com” As the demand curve implies, price is the central driving force behind a decision to purchase a given product or service”. So true.Student’s analysis includes the role asymmetric information has in many economic transactions. BP has to blame the marketing department when comes to asymmetric information. There is no reason why member of a team or organization should have more information than the other team member. Those who don’t know what asymmetric information is I will explain. Usually this transaction is where one member of a particular party or group has more knowledge that is material to the other member of that party. For example there was a meeting you and a team member had to attend with Mobil. I would to have all the information that my teammate has. We should all be on one accord with each other. The whole team should be able to answer any question thrown at us. Without looking stupid because we are given out different information. That would make the organization look bad. According to https://www.federalreserve.gov” Changes in the federal funds rate trigger a chain of events that affect other short-term interest rates, foreign exchange rates, long-term interest rates, the amount of money and credit, and, ultimately, a range of economic variables, including employment, output, and prices of goods and services”.

Student’s analysis includes the Condorcet Paradox and Arrow’s Impossibility Theorem in the political economy. The way that we looked at BP and the way the market is set up. We analyzed different theories. Mr.

Kenneth arrow’s “impossibility” theorem answered different questions for other members of the marketing department. If we look at the projected projects and policies that BP could have in place. After doing some research on Arrow’s theorems. I came to realize he explained his thoughts and beliefs on different aspects of an organization or business. I was intrigued by the fact that he was not afraid to voice his opinion about the will of the people in today’s society. His individual preferences. The impossibilities and the conditions. Condorcet’s Paradox explains how the political scientists sometimes argue. This makes some people question Democracy. According to https://theonebestway.wordpress.com “As a follow-up, here’s one theoretical problem with democracy, Condorcet’s Paradox, and an explanation of how parties help resolve it”. These are ways that can solve a lot of situations in the marketing department.Student includes analysis about people not being rational in behavior economics.

The first thing that market has to take in and consider. All people are different and just because you might handle a situation one way don’t mean the next person will. Sometimes is just best to make sure you and your organization are ahead and is on top of their game. This allows the organization to be one step ahead of their competitors. BP has to make rational choices. If the members of your marketing staff doesn’t know how to behave rationally when it comes down to economics. They shouldn’t be a part of your team. In today’s society you have to remember there is a behavioral change in people. Just pay attention to all the things that are going on in the market. According to https://www.behavioraleconomics.com“ The psychology of homo economicus—a rational and selfish individual with relatively stable preferences—has been challenged, and the traditional view that behavior change should be achieved by informing, convincing, incentivizing or penalizing people has been questioned (Thaler & Sunstein, 2008)”. This allows the organization to evaluate the people they deal with.Conclusion-Overall this paper talked about higher wages, higher interest, demand curves and a host of other key factors in an organization or business I would like to make you understand how important your marketing department is needed. Value the people that are on that team. Do everything you can to make sure that your organization does not be one of them employers that take advantage of the average worker. This can prevent you from paying more wages on from breaking government rules and policies. The paper talked about the change of the consumers prices. Then the paper discussed and explained what asymmetric information. The reasons why it is valuable to pay attention. According to chapter one of the textbook” Policymakers can exploit the short-run trade-off between inflation and unemployment using various policy instruments. By changing the amount that the government spends, the amount it taxes, and the amount of money it prints, policymakers can influence the overall demand for goods and services”.( Mankiw, N. Gregory (2015). It is expected that rational people who purposely do the best they can to achieve their goals.

The paper is 1,050 words in length.

References Mankiw, N. Gregory (2015). Principles of Microeconomics (7th ed.). Stamford, CT: Cengage Learning.

https://www.federalreserve.gov

https://www.boundless.com”https://www.bloomberg.com

https://www.behavioraleconomics.com