microeconomic

microeconomic

 
Economics of the $6.75 shirt
Please read the attached Wall Street Journal Opinion Piece: $6.75 shirt
Compare and contrast the economic choices for the consumer and for the manufacturer of shirt economics.
Based on your knowledge of economics from Chapters 1 2 & 3 of your textbook, please
Present your analysis on the economic forces the author is opining about. What else (costs, options, penalties) is missing? What else might she have added to make her argument stronger?
You should focus on the supply and demand and consumer and manufacturer issues that create the price equilibrium at $6.75.
Hint: For an A grade:
• Review the relevant text chapters again.
e.g.Topics: Supply, Demand, Markets, Decisions, Factors of production, wants and needs, Comparative Advantage International Trade.
• Researching for more data for the economics can behelpful to you.
For example-this piece was written as a response to much criticism about the recent disaster in a Bangladeshgarment factory—(Look it up on the web)
• Drawing a chart or schedule from any of chapters 1 through 5 and explaining it will be important for an A grade.
• Expressing your own opinion about the moral or ethical issues and consequences of either or both buyer and seller behaviors with economic reasoning you have learned from Chs 1-5 will also distinguish your essay.
• The economic facts and behaviors are what should be emphasized in your essay.
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