Week 7 Final Project/Portfolio Project Paper

The submission of the final project for the course will incorporate all prior week's assignments into the full industry

economic analysis where you will incorporate from research a full assessment of a selected sector of the economy,

for this week (see the final two bullets as the final components) you will complete the following tasks below as

part of that effort that is the full Week 7 Portfolio Project submission:

Select an industry/sector in the economy (examples include the oil industry, retail industry, fast-food

industry, hotel industry, auto insurance industry, airline travel industry, dairy markets, agricultural markets,

health insurance industry, housing market, etc.)

Define your market specifically focusing on the characteristics of the goods/services provided and outline

recent trends herein

Identify the key firms providing services in this market

Based on the selected industry/sector in the economy, you will identify and report on recent trends in supply

and demand based on actual research and incorporate in the form of at least two graphical representations

(charts, tables, or graphs)

Report recent and potential upcoming trends in either supply or demand in the industry/sector based on

your research effort including events that can shift either supply or demand and incorporate how you expect

market price and quantity are likely to change (for example the COVID-19 pandemic)

Report from research and knowledge gained the assigned course readings, the elasticity of demand for your

selected industry/sector

Based on the selected industry/sector in the economy, you will identify the factors of production (labor,

physical capital, technology) used in transformation of raw material to finished good/service. You will

report on the cost of those factors of production including wages (see

https://www.bls.gov/oes/current/oes_nat.htm) and the cost of physical capital (equipment) and other

associated costs.

Based on the selected industry/sector in the economy, you will the dynamics of gained utility consumers

derive from the good/service and their willingness-to-pay for consuming more units

Based on the selected industry/sector in the economy, you will identify the fixed, variable, and marginal costs

associated with production and present a scenario for costs using actual researched industry data.

Based on the selected industry/sector in the economy, you report from research the regulatory environment

the firm faces relative to federal or state regulations/requirements for operation.

Identify the market structure (perfect competition, monopoly, oligopoly, and monopolistic competition) the

industry/sector reflects and report the market share by all firms within the market. In addition, report any

recent changes in market concentration and profitability in the industry.

Include reflection of scripture and a Christian worldview as part of the review and assessment

Deliverable: 6-8-page paper (12 point font) written in MS Word. All in-text citations and references, including the

textbook,