Political Economy

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

Write a two-page essay that investigates the ways in which a union can increase employment for its members. For example, when unions pay television time to urge consumers to buy certain products, they are helping themselves and the companies with which they work. Be sure to discuss the possibility that unions are not always adversarial with management. Use a minimum of two academic journal articles from the Online Library.

Your essay must be formatted in APA style. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. All references and citations used must be in APA style.