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P Discussion Board initial posts (your answers to the topic) will be due by Sund

by | Jun 23, 2022 | Economics

 

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P Discussion Board initial posts (your answers to the topic) will be due by Sundays. Your responses to classmates will be due no later than Mondays. You do not have to wait until Mondays to post as long as your classmates have posted their initial posts. Having responses due on Mondays just allows you some extra time in case others wait until the last minute to post.
Topic: People are coming up with new ideas for products or new process every day. But not all ideas are going to be profitable ideas. Chapter 6 discusses the importance of being aware of consumer satisfaction, usefulness, and the impacts of substitution and income effects. Chapter 7 discusses how we have to factor in not only the explicit costs but also the implicit costs as well as looking at production costs.
Go on the internet and find an example of an invention that the poster does not consider worth it. (If you Google it, a lot of websites will pop up.) Tell us what the invention is (name and brief description), what problem it is supposed to solve, and how much you would be willing to pay for this product. Then discuss why it is not considered worth it from the prospective of Chapter 6, Chapter 7, or both. When you post your initial post in the DB, put the name of the product in the subject heading. Each person needs to pick something unique so having the product in the subject heading will allow you to quickly see what has been taken already.
Be sure that you are writing it in your words. Copying from the website is plagiarism and will result in a 0. You must also cite the author, name of the article, the publication, website (link us please), and the date of the article.

 

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