Explain why quantity demanded does not change in response to an increase or decrease in price.

Elastic vs Inelastic Demand

Write a discussion post that identifies real world goods or services that have elastic/inelastic demand.

*Name a specific good or service that has inelastic demand .
*Explain why quantity demanded does not change in response to an increase or decrease in price.
*Then name a specific good or service that has elastic demand.
*Explain why quantity demanded does change a lot in response to an increase or decrease in price.
*Which of these two goods is most likely to be taxed.

The demand for gasoline is relatively inelastic. If the price of gas increases, people still have to drive to work and/or school. Therefore, when the price of gas increases people do not reduce the amount of miles they drive per week very much. Similarly, if the price decreases people won’t start driving all over the place the state just because gas is cheap. On the other hand, the demand for peanuts is relatively elastic. If the price of peanuts increases by a lot, many people would simply stop purchasing peanuts and start buying some other snack.

Explain what will happen to the equilibrium price and quantity of the good you choose if the price of the compliment or substitute good increases.

Write a post describing a good or service that either a compliment or a substitute

*Be specific in describing what different goods or services serve as a possible substitutes or compliments for the good or service you choose.
*Give at least one specific example of a good or service that is either a substitute or compliment to the good you choose.
*Explain what will happen to the equilibrium price and quantity of the good you choose if the price of the compliment or substitute good increases.

Example: Tea and coffee are substitutes. Both tea and coffee are caffeinated beverages that people consume when they want to feel more awake. If the price of tea was to increase significantly, the demand curve for coffee would shift to the right. That is, more people would want to buy coffee at each price as some consumers would switch from tea to coffee in response to the increase in price. The equilibrium price and quantity of coffee would both increase as a result of an increase in the price of tea.

Watch the series of videos, conduct further research and describe in DETAIL the following from the video.

Fraud Observation and Analysis

Watch the series of videos, conduct further research and describe in DETAIL the following from the video.

1. Fraud Triangle – remember rationalization is not easy to determine without an interview.
2. Fraud Scale
3. Recruitment of Fraudsters – name all the players and their roles.
4. Find elements of the evidence square.
Write your assignment as a report with at least 3 paragraphs and formatted according to APA guidelines.

Links to Videos:

Describe the company, including business sector, products sold, competitors, and the geographic area where business is conducted.

Select a publicly traded company as the focus for your project. The company you select must sell a product and carry inventory on its balance sheet.
For this assignment, access a copy of the company’s annual report. This information will typically be located on the company website under “Investor Relations,” or on the Securities and Exchange Commission website for the Electronic Data Gathering, Analysis, and Retrieval system. Read through the annual report to become familiar with the company.
Additionally, each student in the CLC group is required to conduct research to locate a recent press release or article related to the company’s relevant competitors. Read the press release/article and be prepared to discuss it in your assignment deliverable.
Provide a 500-750 word overview of the company addressing the following:
Describe the company, including business sector, products sold, competitors, and the geographic area where business is conducted.
Discuss cyclicality associated with the company’s product sales and any other information relevant to the particular business or its industry. Include any other items relevant to this business or its industry. Assume the reader knows little about the company.
Synthesize the information from each of the press releases or articles collected by the group members and explain why this information is significant in comparing the company’s current market share to that of its competitors.
Compare the company’s advantage and products to relevant industry competitors. Include justification of your competitor selection.

Draw a trend line for the scatter plot. Use the following scatter plot of the ordered pairs as an example.

Collect, organize, and analyze data.
Make predictions based on data.
According to the U.S. Food and Drug Administration, 30% of daily calories should come from fats and only 10% from saturated fats. Based on a 2,000-calorie-a-day intake, this translates to about 600 calories from fat and 20 grams of saturated fat.

By knowing the number of fat calories in a fast food item, can you predict the number of grams of saturated fat?

Your task:

I. Collect data from several fast food chains on the number of fat calories and grams of saturated fat in menu items. Record at least 12 ordered pairs of . Organize your data in a table.

II. Make a scatter plot of the data on graph paper. Be sure to label the axes and use an appropriate title for the graph.
You may wish to use a graphing calculator, spread sheet, or other technology resource to aid you in graphing.

Create a Graph

III. Draw a trend line for the scatter plot. Use the following scatter plot of the ordered pairs as an example.

IV. Calculate the slope of the trend line.