Discussion no plagiarism please

week 2a: The Law of Demand

The “Law of Demand” says that output increases when price falls, all else equal. That is, demand curves slope downward. But sometimes we see the price of a good rise when output increases. For example, lithium is used in rechargeable batteries for computers, phones, other electronic goods, and even certain cars. Demand for lithium was low as recently as the early 2000s. Since then, both the price of lithium and the production of lithium have more than doubled.

Start your discussion post by responding to this question:

  • What could explain the simultaneous increases in the price of lithium and the production of lithium? Use supply and demand curves to explain your answer. (Hint: Price and equilibrium quantity have both increased. Would a shift in the demand curve or a shift in the supply curve lead to this result?)

Talk with your classmates:

  • Reply to a classmate. Was his or her reasoning similar to yours?

For more information, see my video on Supply and Demand:

week 2b:

Today, there are several options for people who want to pursue a legal claim. This includes filing a lawsuit in court, but it also includes alternative forms of dispute resolution (referred to as ADR) such as mediation and arbitration. In both mediation and arbitration, the dispute is resolved outside of court, with the main difference being that mediation requires the parties to voluntarily agree to a resolution, while arbitration requires the parties to abide by the decision of a private arbitrator.

For this discussion, choose one of the disputes listed below and explain whether you think the best way to resolve it is through a lawsuit, mediation, or arbitration.

  • A woman is passed over for promotion and instead the job is award to a man with less experience. She believes that this is a case of sex discrimination.
  • A truck driver is hit by a motorist who ran a stop sign and will be in the hospital for several months and does not have any savings or disability benefits.
  • A child is injured when a very popular folding high-chair collapses, and it appears that the high-chair was improperly designed and unable to reliably support the weight of the average infant.

week 3a: Looking Closely at Cost and Competition

Watch this video (Revenues, Profits, and Price) to help you prepare for this week’s discussion:

Reply to these prompts using the company for which you currently work, a business with which you’re familiar, or the dream business you want to start:

  • What are some key fixed and variable costs for this business? Remember, fixed costs do not change when output changes. That is, fixed costs remain even if the company is producing nothing. Variable costs increase as output increases.

Discuss with your peers:

  • Read one of your peer’s posts and share another idea for a type of cost

For more information, see my video on Cost:

week 3b: This week, we’ll be examining how our legal system protects persons who are injured by the purposeful act of another. These types of injuries are called intentional torts. The legal claims of assault, battery, false imprisonment, invasion of privacy and defamation are examples of intentional torts.

For this discussion, choose one of the scenarios listed below and determine the intentional tort that you think applies. Make sure to explain your answer, including the elements of the claim, why you think those elements are or are not present, and what other information you would need to make this determination.

  • A group of people protesting a company’s employment practices in the lobby of a building is surrounded by private security guards hired by the company.
  • A teenager sends a joking message to his best friend telling him that there is a bomb in his basement.
  • You accidentally leave your personal journal at the local coffee shop. Another customer finds it and shares your innermost secrets on his blog, but never identifies you as being the writer of the journal.
  • At a family reunion at your parents’ home, you see Dave, a second cousin, take a very expensive bottle of wine from the wine cellar, place it in a duffle bag, and hurry out the backdoor. You quickly go to your father and tell him that Dave stole the bottle, and your father calls the police. In reality, your mother told Dave he could pick any bottle of wine from the cellar as a belated birthday present.

For all discussions:

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