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Identify economic principles and their applications by interpreting diagrams and graphs

This assignment is aligned to course outcome 2 and its enabling learning objectives: Describe the different types of economic systems and the role of government in economics a. Identify economic principles and their applications by interpreting diagrams and graphs b. Describe how trade impacts a specific industry c. Describe how government decisions can impact market outcomes d. Recognize industry related strategies to enhance economic efficiency Similar to your first assignment, this assignment also requires you to develop an economic brief. Remember, an economic brief provides a snapshot, or short summary, related to an economic concept, which is generally just a few pages long and may include additional visuals like a graph, chart, or table. For this assignment, you will write a 2-page economic brief that applies to a specific industry and relates to the concepts covered up to this point in the course. This assignment will build off the previous Economic Brief #1, so you will use the same industry you selected to complete the following assignment. Industry Background Resources These resources are available to help you: • Industries at a Glance • Mergent Online Help Video on Mergent Industry Reports • Business Source Complete United States Industry Profiles All Industry Profiles by Country (select Industry Profiles in left menu Source Types) • Flipster Online Magazines Scroll through to view these recommendations: Bloomberg Businessweek and Fast Company Preparation 1. To begin this assignment, recall the industry you selected for Assignment 1. 2. To best prepare for this assignment, it will be important to review the industry background resources, The Little Book of Economics and OpenStax chapter readings as well as your prior discussion board questions and responses. Instructions With your selected industry from Assignment 1 in mind, develop an economic brief in which you address the following items: 1. How does trade impact the goods and/or services that this industry provides? 2. What economic principles covered in Weeks 4–6 (e.g., trade, globalization, government spending, fiscal policy, and debt, etc.) would impact strategic decisions for this industry? (Review the weekly outline in your course guide for all principles covered in Weeks 4–6.) 3. Include an existing graph, chart, or table that relates to your summary. 4. How do government strategies impact this industry? 5. Follow Strayer Writing Standards. Note: You’ll be prompted to enter your Blackboard login to view. Your brief should be at least 2-pages in length

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