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Economics Determinants of Demand and Supply
Economics Determinants of Demand and Supply
Armed with the knowledge you are gaining from this module week’s summit session, it’s now time for us to apply what we are learning! For this activity, complete four of the five scenario-based problems. Prepare a document to explain your answers and graph your solutions. Make sure to use references in APA format to support your positions.
1.Joshua’s income increases, while federal taxes increase; therefore, please illustrate by constructing a supply and demand graph, the direction in which the curves will shift and state the new equilibrium price and quantity; for example, state whether price and quantity increased, decreased, or are indeterminate. Please explain your rationale based on the determinants of demand and supply.
2.Winston is disappointed in the new SUV he recently purchased. He was excited about the new technology incorporated in his SUV but they did not live up to his expectations; therefore, please illustrate by constructing a supply and demand graph, the direction in which the curves will shift and state the new equilibrium price and quantity; for example, state whether price and quantity increased, decreased, or are indeterminate. Please explain your rationale based on the determinants of demand and supply.
3.Kim is in the market for a new automobile, and since she was just promoted at work, her tastes in higher-end automobiles has increased, but to her surprise taxes have decreased, which make a new automobile more attractive; therefore, please illustrate by constructing a supply and demand graph, the direction in which the curves will shift and state the new equilibrium price and quantity; for example, state whether price and quantity increased, decreased, or are indeterminate. Please explain your rationale based on the determinants of demand and supply.
4.U.S. agricultural farmers are excited since the government announced an increase in subsidies even though the substitutes for agricultural goods that are imported have increased in demand; therefore, please illustrate by constructing a supply and demand graph, the direction in which the curves will shift and state the new equilibrium price and quantity; for example, state whether price and quantity increased, decreased, or are indeterminate. Please explain your rationale based on the determinants of demand and supply.
5.Due to advanced technology, substitute goods for higher education have seen an increase in demand. Please illustrate this circumstance by constructing a supply and demand graph, showing the direction in which the curves will shift, and state the new equilibrium price and quantity; for example, state whether price and quantity increased, decreased, or are indeterminate. Please explain your rationale based on the determinants of demand and supply.
Green Building Assessment Standards in Singapore
Green Building Assessment Standards in Singapore
The office building was built in year 2001 and had not obtained any Green Mark award before. The office building is a building with a single tenant and the building management team had conducted preliminary building energy performance analysis earlier. The findings are stated in Appendix A.
The objective is to achieve Green Mark. Describe and relate to the client the available Green Mark score points based on the preliminary findings (Refer to Appendix A). Demonstrate your ability to identify areas for improvement to achieve the targeted Green Mark points scoring of the building.
Remedies for Breach of Contract
Remedies for Breach of Contract
Candie Cardigan as a representative for CARDWARE has decided to auction her strapless giraffe print dress made of silk, satin with velvet markings. This particular dress was used in a movie filmed in S. Africa. The dress had been show cased among other famous dresses in the Silkadonia Actors Guild Museum. Cassie Cardigan was chosen to act as the auctioneer for World Wide Auction House. The bidding for the dress began at $5,000. Pearl has been looking forward to participating in the auction for this dress for over three months. Pearl raised her auction paddle and bid the initial $5,000. Jade also wanted the giraffe print dress and upped the ante to $5,500. The two battled the bidding to where it appeared that Pearl got the dress for $8,500.00, as Cassie smiled and nodded at Pearl.
Candie and Jade had been friends for years, as they had modeled together growing up as children. Candie quietly told Cassie to sell the dress to Jade. When Pearl presented $8,500 to Cassie, Cassie refused to take her money claiming that the dress was to go to Jade. Cassie further explained that Jade had allegedly had raised her paddle after Pearl’s final bid and showed five fingers meaning that she was bidding $500.00 more over the $8,500.00 bid made by Pearl. In reality, no such action by Jade had taken place.
Pearl now wants to sue for breach of contract. She has come to your office asking for your help. She wants you to request that Candie turn the dress over to her for the $8,500 that she bid. Your supervising attorney Les Agne indicates that you should investigate a cause of action for breach of contract, as well as a cause of action based on specific performance. Be aware of whom the true Plaintiff may be in this potential case and who causes of action may be brought against. Also, Les has scribbled the following notes to help you with organizing your thoughts regarding Specific Performance. Dear Paralegal:
After you establish a contract exists as a result of the auctioning of the giraffe print dress, you may want to consider the following with regard to specific performance:
You must have a contract in place
The remedy at law must not be adequate (hence damages alone will not provide relief to the party who is seeking specific performance.
The remedy must be enforceable
If one party can bring the action for specific performance, so can the other if the positions were reversed.
If there were any conditions to the contract, all were satisfied.
Be sure to discuss defenses with regard to the contract. In other words, what will Candie or the Auction House say in response to there being a contract?
Assignment Instructions:
Please write me a memorandum in the following format:
Date:
To: Les Agne, Attorney at law
From: [Your Name]
Re: Potential Causes of Action for Breach of Contract and Specific Performance
Organize your memorandum with an introduction, body, and conclusion.
Note: Your memorandum length of 2–3 pages is separate from the cover sheet and reference page.
Keep all font color consistent throughout. If a blue hyperlink appears, remove it by hovering over it and right click. A vertical dropdown menu will appear. Click
on Remove Hyperlink.