Economic Discussion Question

I will list the economic discussion question and need them answered in short essay form of 150 words each.

1. What are the major differences between Microeconomics and Macroeconomics, also give us good examples of each and make sure you respond to one other participant as well.

2. Recently in the news we have had a number of economists forecast that a recession is on the horizon. Consumer spending and confidence are key factors to a healthy economy. Do a little research on your own and tell us if consumer spending is going to maintain strength or is it going to fade as fears of a recession persists. Support your answer with evidence and respond to one other participant for this assignment.

3. Is the oil industry an oligopoly? Yes, no, please explain your answer and give examples. 

4. What are opportunity costs? Explain to us in layman’s terms with an example how the common citizen can understand the term

5. What is lean production as defined by the Toyota Corporation and what are the three advantages of running this kind of production?

6. What are the characteristics of the model of perfect competition and give two example markets for examples

7. Describe what the monopoly model is in market structure and give an example in the history of monopolies in the good old U.S.A.

8. You had gotten a question on the oligopoly of the oil industry and since you knew what to do with that industry let us see if you can tackle one more. Is the cell phone carrier market also an oligopoly? Please support your answer

9. What is bundling pricing and why do firms use them? Please gives us two great examples of its use