{"id":125792,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/explain-why-equilibrium-of-supply-and-demand-is-desirable-5"},"modified":"2017-08-16T06:06:14","modified_gmt":"2017-08-16T06:06:14","slug":"explain-why-equilibrium-of-supply-and-demand-is-desirable-5","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/explain-why-equilibrium-of-supply-and-demand-is-desirable-5\/","title":{"rendered":"Explain why equilibrium of supply and demand is desirable."},"content":{"rendered":"<div class=\"the_content_wrapper\">\n<p>Explain why equilibrium of supply and demand is desirable.<\/p>\n<p>In Week 2, students will employ the supply and demand model to develop consumer surplus and producer surplus as a measure of welfare and market efficiency. Students learn about welfare economics\u2013the study of how the allocation of resources affects economic well-being\u2013and will discover that under most circumstances, the equilibrium price and quantity is also the one that maximizes welfare. Students will review different sources of externalities and a variety of potential cures and will see that while markets are usually a good way to organize economic activity, governments can sometimes improve market outcomes. Students will see how the U.S. government raises and spends money and the difficulty of making a tax system both efficient and equitable.<br \/> Assignment Steps<br \/> Scenario: Imagine you have been assigned the responsibility of preparing a paper for the governor\u2019s next economic conference.<br \/> Prepare a 1,050-word paper addressing the following:<br \/> Explain why equilibrium of supply and demand is desirable.<br \/> Explain the following concepts using the concept of consumer and producer surplus:<br \/> Efficiency of markets<br \/> Costs of taxation<br \/> Benefits of international trade<br \/> Discuss how externalities may prevent market equilibrium and the various governments policies used to remedy the inefficiencies in markets caused by externalities.<br \/> Analyze the difference between the efficiency of a tax system and the equity of a tax system as it refers to the costs imposed on taxpayers using the benefits principles.<br \/> NOTE: BELOW IS VERY IMPORTANT<br \/> ATTACHED IS A GRADING GUIDE AND CHAPTERS, AND PLEASE DO NOT GO OVER THE WORD COUNT!!<br \/> Cite a minimum of THREE(3) PEER-REVIEWED SOURCES, not including your textbook.<br \/> Format consistent with APA guidelines.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Explain why equilibrium of supply and demand is desirable. In Week 2, students will employ the supply and demand model to develop consumer surplus and producer surplus as a measure of welfare and market efficiency. Students learn about welfare economics\u2013the <a href=\"https:\/\/www.benedictsol.com\/blogs\/explain-why-equilibrium-of-supply-and-demand-is-desirable-5\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-125792","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/125792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=125792"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/125792\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=125792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=125792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=125792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}