General Economics questions

***Replies only need to be 150-200 words. No need for references or formatting** 1. What is your understanding of factor markets? Please give real world examples of each factor of production presented.

2. Explain how the labor-demand and the labor-supply curves shift? How do we achieve an equilibrium in the labor market?

3. Under current conditions, our policymakers have proposed requiring firms to give workers benefits. One of them is the minimum wage which in some parts of my state the minimum wage level had been approved at $15 per hour. Would this cause a shift in labor-supply or labor-demand curve? Would this raise or decrease the impact of the law on wages and employment?

4.Explain some of the factors that determine the level of individual income in your place of work or firm you’re familiar with. What is the relationship between productivity and the wages earned by an employee in that firm? Support your answer with a theory and any information taken from a source.

5. Entrepreneurship is a labor involving a high degree of organizational skills and creativity. If given the chance to be an entrepreneur what business activity you think you will excel. Please be clear and specific.

6. In reference to Income Inequality and Poverty, how do you define “poor”? What is the Lorenz curve and its significance to this definition?

7. Discuss economic life cycles. Where do you fit in a life cycle? Please show some real world applications.

8. Please give some real world applications to the following concepts:

A. Libertarianism

B. Liberalism

C. Utilitarianism

D. Negative tax



Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

We value our customers and so we ensure that what we do is 100% original..
With us you are guaranteed of quality work done by our qualified experts.Your information and everything that you do with us is kept completely confidential.

Money-back guarantee

At, You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

The Product ordered is guaranteed to be original. Orders are checked by the most advanced anti-plagiarism software in the market to assure that the Product is 100% original. The Company has a zero tolerance policy for plagiarism.

Read more

Free-revision policy

The Free Revision policy is a courtesy service that the Company provides to help ensure Customer’s total satisfaction with the completed Order. To receive free revision the Company requires that the Customer provide the request within fourteen (14) days from the first completion date and within a period of thirty (30) days for dissertations.

Read more

Privacy policy

The Company is committed to protect the privacy of the Customer and it will never resell or share any of Customer’s personal information, including credit card data, with any third party. All the online transactions are processed through the secure and reliable online payment systems.

Read more

Fair-cooperation guarantee

By placing an order with at HomeworkCheg, you agree to the service we provide. We will endear to do all that it takes to deliver a comprehensive paper as per your requirements. We also count on your cooperation to ensure that we deliver on this mandate.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages