Economics Term Paper essays

Economics Term Paper essays Just as Governor Bradford discovered during the famine at the time of the original Thanksgiving, we must allow for an unrestricted government and let the invisible hand go to work. When there is a competitive market after an event such as Hurricane Charley, it allows for equilibrium to still take place. Doing this allows the average total cost to stay as close to the norm as possible. This would be true because otherwise it would be at the expense of the seller to purchase more supplies than normal and would in turn cost him more than he would typically pay for each product. A competitive market would allow this seller, in his presence of high demand, to keep his constant returns to scale as close to how it was previous to the hurricane. Otherwise the seller would experience a diseconomy of scale as equilibrium would not be ideal. One of the three basic insights to market outcomes states that free markets produce the quantity of the goods that maximize the sum of the consumer and producer surplus. Having a laissez-faire market during a time like this would most likely uphold this insight. Allowing a free-market can also have its problems. Sellers would have the free right to sell products during a crisis at whatever price they feel. This could cause a monopolistic effect and those buyers with the inability to pay would be left with nothing. The owner and his new monopolistic business would be producing and selling an amount of goods below what would maximize surplus. As soon as the store owner raises his price above the marginal cost, less people will want to buy them. In order for the store owner to maximize profits, he would have to find out at what cost the marginal revenue equals marginal cost. As displayed by the graph, less output and higher prices emerge from a monopoly. The graph shows that the price is higher and the output lower than the competitive market ...

A Diploma is not a Degree

A Diploma is not a Degree A Diploma is not a Degree A Diploma is not a Degree By Maeve Maddox The word degree has many meanings, but in academic terms, it refers to a certification awarded at the university level. The B.A. degree (Bachelor of Arts), for example, is awarded upon completion of a four-year program of study requiring a specified minimum of credits. An M.A. degree (Master of Arts) requires two or more years of study beyond the B.A. and carries with it the passing of certain examinations and, usually, the completion of a thesis or other research project. The Ph.D. degree (Doctor of Philosophy) requires several more years of study, examinations, and research projects beyond the M.A. In addition to the degrees awarded by four-year institutions of higher learning, community colleges offer the Associate Degree upon completion of two years of study beyond high school. A diploma, on the other hand, is a document testifying to the completion of a course of study. Any graduate, whether of a university, a high school, or a six-week course in Spanish, will receive a diploma. High schools issue diplomas and certificates of attendance, but they do not award degrees. To describe a person as having a high school degree is an error of fact as well as one of diction. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Misused Words category, check our popular posts, or choose a related post below:75 Contronyms (Words with Contradictory Meanings)Top 11 Writing Apps for iOS (iPhone and iPad)50 Plain-Language Substitutions for Wordy Phrases