Every individual confronts economic issues daily. This is especially true of business owners, who spend their time thinking of economic issues such as how to handle changes in the price of goods, how to allocate their time, and whether to buy or produce goods in order to efficiently allocate their scarce resources.
Begin by introducing yourself briefly, including your program of study and career interests. Then, address the following as part of your response:
Imagine you own your own business and have to make daily decisions about how to allocate available resources such as input of production, time, purchasing decisions, and so forth.
Which of the principles of economics outlined in your reading would you be more likely to apply when making business decisions? Provide at least two to three examples.
In your responses to your peers, comment on at least two posts that discuss a different economic principle than the one you chose. Draw connections between the different principles and the role of microeconomics in everyday life.
Your paper should include an introduction, a body, and a conclusion. Also, support your answers with the course’s readings and at least two scholarly journal articles. The article’s purpose is to support your positions, claims, and observations, in addition to your textbook. Sources ProQuest and EBSCOhost are great sites to find resources. Also, write in a concise and logical, using excellent grammar and style techniques. Additionally, the quality of your writing dictates grading criteria. On the other hand, if you use direct quotes from books or articles, place the words you copied (use parenthesis) and cite them in-line. Also, only use sources within the five-year range.
The quotes should be complete sentences (no more, less) and should be incorporated in your essay to illustrate your ideas. Please, cite your sources in a clickable reference list at the end. Also, do not copy without providing proper attribution (quotation marks and in-line citations). Also, write an essay format, not in bullet form, numbering, or another list format. It would be best if you use your own words. Lastly, proofread your work and run it through Grammarly for thorough confirmation.