Literal:
a) I, Stefanie Paz, affirm that I completed my independent component which represents thirty hours of work.
b) I enrolled in an "Introduction to MicroEconomics" class taught by Prof. Amrik Dua at Cal Poly Pomona, every Tuesday and Thursday, from 1-3PM. I have also completed all assignments and all (except one) extra credit assignment for the class, and all three test dates and the final for the class.
Calendar:
Assignments 1 and 2
Interpretive:
Each two-hour class is spent reviewing and discussing the concepts of MicroEconomics- the basis of Economics. There are also homework assignments to be completed outside of the classroom, and I've taken an extra hour studying for a test or final. The twenty sessions alone represent approximately forty hours, and the twelve study sessions that I'm recording have taken approximately fourteen hours, leading to a total of fifty-four hours.
Applied:
This class introduced me to the basic structure of economics, and helped me understand some of the logic behind profitable businesses. The knowledge that I've gained from this class has given me this answer for my Essential Question: What is most important when marketing medical supplies is understanding the market in that which the supplies are being sold.
In addition to following MAP policies set by the manufacturers, suppliers have to figure out if there is a demand of their product is in order to set their prices accordingly and attract business (law of demand). Since medical supplies are elastic goods, any price change will greatly affect the demand for the good. Based on what I have learned in the class, medical suppliers are what keep the distributors from becoming large monopolies.
Economics is the study of how people satisfy their wants by using their limited means to obtain whatever can give them the most satisfaction. Microeconomics is the branch of economics that focuses on the individual's financial choices. It also is one of the introductory classes for economics, as it is usually recommended that Microeconomics be taken before Macroeconomics (another economic introductory class that focuses on how countries and big groups make financial decisions). Because effective marketing targets a specific audience or type of individual, it is even more important for the supplier to understand the market that their consumer has become a part of and appeal to their needs.
a) I, Stefanie Paz, affirm that I completed my independent component which represents thirty hours of work.
b) I enrolled in an "Introduction to MicroEconomics" class taught by Prof. Amrik Dua at Cal Poly Pomona, every Tuesday and Thursday, from 1-3PM. I have also completed all assignments and all (except one) extra credit assignment for the class, and all three test dates and the final for the class.
Calendar:
Assignments 1 and 2
Assignments 3 (original misplaced, scored 13/15) and 4
Extra Credit Assignments 1, 2 and 3
(Notebook used for class will be in senior project binder)
Interpretive:
Each two-hour class is spent reviewing and discussing the concepts of MicroEconomics- the basis of Economics. There are also homework assignments to be completed outside of the classroom, and I've taken an extra hour studying for a test or final. The twenty sessions alone represent approximately forty hours, and the twelve study sessions that I'm recording have taken approximately fourteen hours, leading to a total of fifty-four hours.
Applied:
This class introduced me to the basic structure of economics, and helped me understand some of the logic behind profitable businesses. The knowledge that I've gained from this class has given me this answer for my Essential Question: What is most important when marketing medical supplies is understanding the market in that which the supplies are being sold.
In addition to following MAP policies set by the manufacturers, suppliers have to figure out if there is a demand of their product is in order to set their prices accordingly and attract business (law of demand). Since medical supplies are elastic goods, any price change will greatly affect the demand for the good. Based on what I have learned in the class, medical suppliers are what keep the distributors from becoming large monopolies.
Economics is the study of how people satisfy their wants by using their limited means to obtain whatever can give them the most satisfaction. Microeconomics is the branch of economics that focuses on the individual's financial choices. It also is one of the introductory classes for economics, as it is usually recommended that Microeconomics be taken before Macroeconomics (another economic introductory class that focuses on how countries and big groups make financial decisions). Because effective marketing targets a specific audience or type of individual, it is even more important for the supplier to understand the market that their consumer has become a part of and appeal to their needs.
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