1- Summarize the relationships among labor, land, and capital as they relate to production.
2- What do you think are the most influential factors that contribute to earnings?
3- Research income inequality and the political philosophy of income redistribution, including an example of the philosophy in action and whether it is successful.
4- Analyze what market structure you would like to see your goods/services in.
5- Evaluate why certain market structures are able to earn long run economic profits.
6- Explain the difference between a change in quantity demanded vs. a change in demand and relate an example to your difference.
7- Evaluate how firms will make pricing decisions in each of the market structures.
8- Analyze how the barriers to entry and exit will impact long run economic profits.
9- Explain how a store is able to raise prices on elastic and inelastic goods and its impact on selling those products.
10- Analyze the best market structure for consumers to buy products.
11- Explain the difference between a price maker and taker.
12- Evaluate how consumers will be able to estimate the role of advertising in each of the market structure.
13- Explain the impact of a shortage at a store on how a manager will need to respond.