U.S Global Economics and the circular flow model of the free-market system, economics homework help

1. ; Describe the circular flow model of the free-market system.

(10 points)

2. ; How do consumers use cost-benefit analysis? Why do consumers make different decisions using this process?

(10 points)

3. ; Name two different market structures. Describe how and why they each have a different competitive situation. ;

(10 points)

4. ; What is the Law of Supply and Demand? Explain how increases and decreases in supply and demand affect prices.

(10 points)

5. ; What is the business cycle? What causes changes from one phase of the business cycle to another?

(10 points)

6. ; Explain the different investment options someone with a high level of risk aversion might choose. What are the possible investment goals for this person?

(10 points)

7. ; What are tariffs? What are some of the harmful effects of tariffs?

(10 points)

8. ; Give an example of a public good and describe why it’s a public good. Should the government provide this good? Why or why not?

(10 points)

9. ; What is globalization? Why does globalization benefit some countries more than others?

(10 points)

10. ; There are a number of organizations designed to regulate the global economy and assist individual nations in the global economy. List and describe two such organizations.