Assignment 1: Economic Brief Due Week 5, worth 150 points This assignment is aligned to these course outcomes: Explain economic principles and their applications in the real world. Summarize the different types of market structures and the role of government in economics. In the workplace, we are often asked to create briefs. A brief provides a snapshot, or short, written summary, of a situation or event that has occurred. It is generally just a few pages long and may include additional visuals like a graph, chart, or table. In this assignment, write a brief about economic concepts in an industry that interests you. An example economic brief, template, and resources are provided below. Example Economic Brief, Assignment 1 Template, Strayer Writing Standards (SWS) Review an example brief. Use the optional template to help you get started. Get familiar with the Strayer Writing Standards (SWS). (See Instructions below.) Industry Selection Use this resource to select an industry and learn about the products and services it provides: NAICS (North American Industry Classification System) Select the number next to the industry to see its subsectors, ., select 52 to see Finance and Insurance. Select that same number again to read about the industry as a whole or select a sub-category. For example, Mining is 21, and Oil and Gas Extraction, a sub-category, is 211. Instructions Review your previous chapter readings and use the resource above to develop an economic brief that is two to three (2-3) pages long in which you: Select an industry and describe the goods and/or services this industry produces. Use the NAICS resource above to help you select an industry (and/or subsector) for your brief. Identify this industrys market structure and at least two or more market characteristics that support this market structure. (Market structures are covered in Weeks 3 and 4.) Describe any notable microeconomic relationships, market outcomes, and/or trends in this industry. Include a graph, chart, or table containing related data. (Microeconomic relationships and market outcomes are covered in Weeks 2 through 4.) How might government impact this industrys market prices, output, and/or market structure? (Government intervention through price controls, industry regulations, and antitrust enforcement is covered in Weeks 2 and 4.) This course requires use of Strayer Writing Standards (SWS). The format is different compared to other Strayer University courses. Please take a moment to review the SWS documentation for details. (Note: Youll be prompted to enter your Blackboard login credentials to view these standards.) Your brief should include a cover page. Your brief should be two to three (2-3) pages in length (not including the cover page), double-spaced, 12-point font. Your brief should include a minimum of one (1) reference/citation in the text. By submitting this paper, you agree: (1) that you are submitting your paper to be used and stored as part of the SafeAssign services in accordance with the Blackboard Privacy Policy; (2) that your institution may use your paper in accordance with your institution’s policies; and (3) that your use of SafeAssign will be without recourse against Blackboard Inc. and its affiliates. 2017 NAICS Definition T = Canadian, Mexican, and United States industries are comparable. Sector 53 — Real Estate and Rental and LeasingT The Sector as a Whole The Real Estate and Rental and Leasing sector comprises establishments primarily engaged in renting, leasing, or otherwise allowing the use of tangible or intangible assets, and establishments providing related services. The major portion of this sector comprises establishments that rent, lease, or otherwise allow the use of their own assets by others. The assets may be tangible, as is the case of real estate and equipment, or intangible, as is the case with patents and trademarks. This sector also includes establishments primarily engaged in managing real estate for others, selling, renting and/or buying real estate for others, and appraising real estate. These activities are closely related to this sector’s main activity, and from a production basis they are included here. In addition, a substantial proportion of property management is self-performed by lessors. The main components of this sector are the real estate lessors industries (including equity real estate investment trusts (REITs)); equipment lessors industries (including motor vehicles, computers, and consumer goods); and lessors of nonfinancial intangible assets (except copyrighted works). Excluded from this sector are establishments primarily engaged in renting or leasing equipment with operators. Establishments renting or leasing equipment with operators are classified in various subsectors of NAICS depending on the nature of the services provided (., transportation, construction, agriculture). These activities are excluded from this sector because the client is paying for the expertise and knowledge of the equipment operator, in addition to the rental of the equipment. In many cases, such as the rental of heavy construction equipment, the operator is essential to operate the equipment.
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