Applications of Supply and Demand
Order ID 53563633773 Type Essay Writer Level Masters Style APA Sources/References 4 Perfect Number of Pages to Order 5-10 Pages Description/Paper Instructions
Applications of Supply and Demand
Think of this assignment as a debate. Your reading on the topic of price controls should allow you to have some insights on certain situations that could emerge under stressful conditions. Imagine that a natural disaster struck a certain area of the country. Immediately basic goods such as water, gasoline, food, and others became “scarce.” These goods are only available for sale at exorbitant prices. The local government, in an effort to protect its citizens, has determined that these basic goods will be subject to strict price controls and anybody attempting to sell these goods at above stipulated prices will be jailed for a minimum of 10 years. It seems unfair for some to gain at the expense of others. Debate your position regarding these issues.
(1) Why should or shouldn’t a government implement a price control in this type of situation?
(2) Should in midst of disaster a seller be allowed to sell without price ceiling? Why or why not (based on economics theories we learn in the class)?
(3) Who gains and who loses when exchanges outside of the price control system take place?
(4) Would you be entrepreneurial and take a risk despite the penalties associated? If you would, under which economic conditions? If you would not, under which economic conditions
(5) Does a price control in this type of situation lead to an efficient use of the basic resources? Or does it lead to a difference goal? Why or why not? Which economic goals should be the goal of that affected area? Why?
You are more than welcome to add many other aspects, data, facts, and analysis to the discussion.
Each posting must include supporting evidence, details, examples, and citations (live
links if they involve online research).Each posting should add new information, and new thinking. The posting should
enhance the critical thinking process and stimulate further discussion from other
students.Each posting is presented clearly and demonstrates both professional vocabulary and
writing style
RUBRIC
QUALITY OF RESPONSE NO RESPONSE POOR / UNSATISFACTORY SATISFACTORY GOOD EXCELLENT Content (worth a maximum of 50% of the total points) Zero points: Student failed to submit the final paper. 20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. 30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. 40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. 50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. Use of Sources (worth a maximum of 20% of the total points). 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