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ECO 204 Entire Course (Ash)

Circular Flow Diagram. Explain how the circular flow diagram relat
es to the current economic situation. Using the circular flow diagra
m, explain a way that your family interacts in the factor market an
d a way that it interacts in the products market.
Supply and Demand. Analyze how the law of demand applies to a r
ecent purchase that you made. Describe how the product has chan
ged in price and explain whether the price change is due to supply
or demand. Did the change in price affect your decision to purchas
e the item?

ECO 204 Week 1 DQ 1 Circular F

low Diagram (Ash)

Circular Flow Diagram. Explain how the circular flow diagram relat
es to the current economic situation. Using the circular flow diagra
m, explain a way that your family interacts in the factor market an
d a way that it interacts in the products market.

ECO 204 Week 1 DQ 2 Supply a

nd Demand (Ash)

Supply and Demand. Analyze how the law of demand applies to a r

ecent purchase that you made. Describe how the product has chan
ged in price and explain whether the price change is due to supply
or demand. Did the change in price affect your decision to purchas
e the item?

ECO 204 Week 1 Quiz (Ash)

ECO 204 Week 1 Quiz (Ash)

ECO 204 Week 1 Quiz

ECO 204 Week 1 Quiz

ECO 204 Week 2 DQ 1 Elasticity (Ash)

Elasticity. Analyze the determinants of the price elasticity of deman

d and determine if each of the following products are elastic or ine
lastic:
a. bottled water
b. toothpaste
c. cookie dough ice cream
d. fresh green beans
e. gasoline
In your analysis, please make sure to explain your reasoning and r
elate your answers to the characteristics of the determinants of th
e price elasticity of demand.

ECO 204 Week 2 DQ 2 Externalities (Ash)

Externalities. Explain the difference between a positive and negativ

e externality. In your analysis, make sure to provide an example of
each type of externality. Why does the government need to get inv
olved with externalities to bring about market efficiency? What sol
utions need to be provided for your examples?

ECO 204 Week 2 Raise or Lower

Tuition (Ash)
Raise or Lower Tuition? You have been hired by Nobody State Univ
ersity (NSU) as a consultant to help the university with how to incre
ase their total revenue. The university has been struggling in recen
t years, so they have hired you to help them in their last attempt to
find an appropriate solution so that the university can survive.
Raise or Lower Tuition? Suppose that, in an attempt to raise more r
evenue, Nobody State University increases its tuition.
Assess a raise in tuition and if it will necessarily result in more reve
nue.

ECO 204 Week 3 DQ 1 Short an

d Long Run (Ash)

Short and Long Run. Lets assume that you own a fast food restaur
ant and you are faced with many customers each day eating in the
restaurant without any tables. Describe the difference between the
short run and long run in the example to bringing about more tabl
es for the customers. How is the restaurant able to differentiate be
tween the short run and long run?

ECO 204 Week 3 DQ 2 Fixed and Variable Costs (As

h)
Fixed and Variable Costs. After reading Chapter 8 in the text and vi
ewing the required video for this week, Fixed, variable, and margin
al cost, address the following in your initial post:
a. First, describe several different fixed costs and variable costs ass
ociated with operating an automobile.

ECO 204 Week 3 Quiz (Ash)

ECO 204 Week 3 Quiz (Ash)

ECO 204 Week 4 DQ 1 Market

Structures (Ash)

Market Structures. Explain the most important characteristic in per

fect competition, monopolistic competition, oligopoly, and monop
olies and relate the characteristic to how these firms can make pro
fits in the short run. In your analysis, make sure to relate an exam
ple for each of the market structures listed and how it relates to th
e particular characteristics.

ECO 204 Week 4 DQ 2 Barrier

s to Entry (Ash)

Barriers to Entry. Analyze the major barriers for entry and exit into
the airline industry. Explain how each barrier can foster either mo
nopoly or oligopoly. What barriers, if any, do you feel give rise to m
onopoly that will allow the government to become involved to prot
ect consumers?

ECO 204 Week 4 Quiz (Ash)

ECO 204 Week 4 Quiz (Ash)

ECO 204 Week 5 DQ 1 Transfers (Ash)

Transfers. Why would cash transfers typically be preferred by recip

ients over in-kind transfers? What are the pros and cons of each fr
om a government perspective? Respond to at least two of your clas
smates.

ECO 204 Week 5 DQ 2 Tariffs an

d Quotas (Ash)

Tariffs and Quotas. Who gains and who loses from a tariff? How do
the effects of tariffs differ from the effects of quotas? If you were a
small country, what would you rather utilize?

ECO 204 Week 5 Final Paper (As

h)

You have been hired as a consultant by your local mayor to look at

the various market structures. Your role is to provide analysis and
answers to these important questions that will help the mayor und
erstand the structures of many of the businesses in his city:

ECO 204 ASSIST Teaching Effic

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