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Discuss which principles of economics directly relate to your purchasing decision.

  • Write a 1,750- to 2,450-word word paper in which you decide whether to purchase a house.
    • Discuss which principles of economics directly relate to your purchasing decision.
    • Compare the marginal benefits and the marginal costs associated with your purchasing decision.
    • Explain how the strength of the economy as a whole affected the marginal benefits and the marginal costs associated with that decision.
    • Consider the roles of the domestic economy and international trade in your assessment of the strength of the economy.
    • Determine what situations or conditions could have led you to make a different decision.
  • Assume for this project that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.
  • Use three to five references in your paper.
  • Format your paper according to APA guidelines.
  • Post your paper as an attachment.

 

 

  • In your own words, using the 10 Principles of Economics outlined in Ch. 1 of Mankiw’s Principles of Economics, prepare a 200- to 300-word response to the following questions: How can each of the 10 principles be applied in an example or experience with which you are familiar? How do you intend to use your newfound knowledge in future economic decisions?

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