ECON 304 Week 3 Assignment Help | Homework Help | Canvas University
- Canvas University / ECON 304
- 04 May 2019
- Price: $12
- Other / Other
ECON 304 Week 3 Assignment Help | Homework Help | Canvas University
Homework for Module Three
Activity One
·
Review the Module Three Homework Activities tab found in Module Three -
complete each homework assignment, once you have completed the homework
assignment, open the homework two quiz and take the quiz, this quiz basically
moves your answers from the activity sheet into the Module Three Homework Quiz
for grading. You have two attempts at this quiz, if you miss homework problems
review them and re-work the problem to find the correct answer and retake the
Module Three Homework Quiz to improve your score. This is worth 20 points.
Homework for Module Three - Activity
Two
Create your notes for Module Three
using the terms found in Definitions and Concepts and place them in the dropbox
provided - 10 points
Please find the definitions for these
words and concepts, use these as study notes for exams. Place these notes in
the dropbox provided and earn 10 points credit.
definition of a market
definition of demand
law of demand
law of supply
equilibrium
price ceilings - binding and
non-binding
price floors - binding and
non-binding
effects of excise taxes on supply and
demand
third party payer systems
results of third party payer systems
on supply and demand
elasticity
price elasticity of demand
price elascitity of demand equation
elastic
inelastic
perfectly elastic
perfectly inelastic
unit elastic
cross price elasticity of demand
world price
substitutes
complements
income elasticity of demand
normal goods
luxury goods
inferior goods
Elasticity Terms
·
If the Income Elasticity of Demand > 1 then the good is a Luxury Good
and Income Elastic
·
If the Income Elasticity of Demand < 1 and Income Elasticity of
Demand > 0 then the good is a Normal Good and Income Inelastic
·
If Income Elasticity of Demand < 0 then the good is an Inferior Good
and Negative Income Inelastic
USA 
India