Economic Transactions

Question 1

Scenario: You have been asked to assist your organization’s marketing department to better understand how consumers make economic decisions.

Write a 1,050-word analysis including the following:

  • The impact the theory of consumer choice has on:
    • Demand curves
    • Higher wages
    • Higher interest rates
  • The role asymmetric information has in many economic transactions.
  • The Condorcet Paradox and Arrow’s Impossibility Theorem in the political economy.
  • People are not rational in behavior economics.

Cite a minimum of three peer-reviewed sources not including your textbook.

Format your paper consistent with APA guidelines.

Question 2

The first section of your text (actually only one chapter) is a cursory explanation of several

conceptual frameworks including the functionalist perspective, the conflict perspective, the

social constructionist perspective, the social exchange perspective, the ecological perspective,

the diversity perspective and the strengths perspective. These perspectives or points of view can

be used to explain the causes of social problems and to plan interventions aimed at alleviating

these problems.

Pick two of the perspectives profiled and use them to explain poverty in the

United States in the 21st century. After explaining why poverty exists, use one of the

perspectives to plan a macro intervention aimed at reducing poverty.

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