Econ/201 Principles Of Economics Essay
ECON 201 –001, Assignment #1 Principles of Economics Due Date: September 11, 2013 @ 11.30 a.m.
Question 1: Principles of economics (5 point each for a total of 45 points) In each of the following situations identify and briefly explain which of the nine principles is at work:
1.
You choose to shop at the local discount store rather than pay a higher price for the same merchandize at the local department store.
2. On your vacation trip your budget is limited to $35 per day. 3. The student union provides a website on which departing students can sell items such as used books, appliances and furniture rather than giving them away to their roommates as they formerly did. 4. You decide on how many cups of coffee to have when studying
Question 1: Principles of economics (5 point each for a total of 45 points) In each of the following situations identify and briefly explain which of the nine principles is at work:
1.
You choose to shop at the local discount store rather than pay a higher price for the same merchandize at the local department store.
2. On your vacation trip your budget is limited to $35 per day. 3. The student union provides a website on which departing students can sell items such as used books, appliances and furniture rather than giving them away to their roommates as they formerly did. 4. You decide on how many cups of coffee to have when studying