Question Description
Assignment 1: Economic BriefDue Week 5, worth 175 pointsThis assignment is aligned to these course outcomes:• Explain economic principles and their applications in the real world.• Summarize the different types of market structures and the role of government in economics.In the workplace, we are often asked to create “briefs.” A brief provides a snapshot, or short, writtensummary, of a situation or event that has occurred. It is generally just a few pages long and may includeadditional visuals like a graph, chart, or table. In this assignment, write a brief about economic concepts inan industry that interests you.Industry Selection and Background ResourcesUse this resource to select an industry:• NAICS (North American Industry Classification System)These resources are available to help you identify a U.S. industry and the products and services itprovides:• Mergent OnlineHelp Video on Mergent Industry Reports• Business Source CompleteUnited States Industry ProfilesAll Industry Profiles by Country (select Industry Profiles in the left menu Source Types)• Flipster Online MagazinesScroll through to view these recommendations: Bloomberg Businessweek and Fast CompanyPreparation1. Begin this assignment by selecting an industry (and/or subsector) from the NAICS list.2. To best prepare for this assignment, it will be important to review the industry backgroundresources above, The Little Book of Economics and the Principles of Economics chapterreadings, as well as your prior discussion board questions and responses.3. Use the optional template to help you get started.4. Get familiar with the Strayer Writing Standards (SWS). (See Instructions below.)InstructionsDevelop an economic brief that is two to three (2-3) pages long in which you:1. Select an industry and describe the goods and/or services this industry produces. Pick anindustry from the NAICS list.2. Identify this industry’s market structure and at least two or more market characteristics thatsupport this market structure. (Market structures are covered in Weeks 3 and 4.)3. Describe any notable microeconomic relationships, market outcomes, and/or trends in thisindustry. Include a graph, chart, or table containing related data. (Microeconomic relationshipsand market outcomes are covered in Weeks 2 through 4.)
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