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Question : 21) Economists have used ________ and ________ in experiments designed : 1387708

Economics

 

 

21) Economists have used ________ and ________ in experiments designed to determine whether consumers care about fairness when they make decisions.

A) Giffen goods; luxury goods

B) the income effect; the substitution effect

C) the ultimatum game; the dictator game

D) network externalities; the endowment effect

 

 

22) Traditionally, economists have considered culture, customs, and religion as

A) very important influences on the choices consumers make.

B) relatively unimportant factors in explaining the choices consumers make.

C) important influences in explaining consumer choices in command economies but less important in market economies.

D) subject to normative economic analysis rather than positive economic analysis.

 

23) Which of the following statements describes economists’ attitudes regarding the influence of social factors on the choices consumers make?

A) Economists formerly believed they were very important but now they believe they are not important.

B) Economists believe social factors affect consumer choice in markets for public goods but not in markets for private goods.

C) Liberal economists believe social factors are very important; conservative economists do not believe social factors have any influence on consumers.

D) Economists traditionally believed they were unimportant, but many economists now believe social factors are important.

 

 

24) Economists Gary Becker and Kevin Murphy are associated with which of the following?

A) the discovery of the first example of a Giffen good

B) They have argued that social factors are not important in explaining the choices consumers make.

C) Consumers appear to receive utility from consuming goods they believe are popular.

D) They discovered that price changes have both income and substitution effects.

 

Article Summary

The article describes three key ways startup companies can get the most benefit from celebrity endorsements. One way is choosing a celebrity that can bring credibility to the company and then incorporating the celebrity into the company’s marketing strategy. Second, get public relations value from the celebrity by offering exclusive interviews, contests, and photos and videos of the celebrity with the product. Finally, make sure to choose a celebrity who will represent the product at all times, giving the product maximum exposure.

 

Source: Kevin Tighe II, “3 Ways Startups Can Turn Celebrity Endorsements Into Big Gains,” Forbes, March 8, 2013.

 

25) Refer to the Article Summary. Economists refer to an increase in sales due to celebrity endorsements as being the result of

A) network externalities.

B) the endowment effect.

C) social influence.

D) the ultimatum game.

 

 

26) Refer to the Article Summary. One explanation for the increase in product sales because of celebrity endorsements is that people seem to receive ________ from goods they believe are popular.

A) more utility

B) diminishing utility

C) greater network externalities

D) increased path dependency

 

27) Which of the following refers to the increase in the usefulness of a product as the number of consumers who use it increases?

A) positive externalities

B) network externalities

C) external marginal utility

D) the impact of celebrity endorsements

 

 

28) Which of the following is used to explain why a consumer’s willingness to buy a cell phone increases as the number of other people who own and use cell phones increases?

A) network externalities

B) market failure

C) diminishing marginal utility

D) the income effect of a price change

 

 

29) The order of the letters along the rows of computer keyboards could be changed to allow users to type faster, but this would inconvenience the vast majority of people who learned to type with the current keyboard layout. The costs of switching to a new layout make this change unlikely. This is an example of

A) path dependency.

B) how social influences overwhelm the substitution effect of a price change.

C) how the elasticity of demand for typewriters has been affected by externalities.

D) how consumers sometimes do not behave rationally.

 

30) An advantage of Microsoft windows is its compatibility with the widest range of hardware and software. The dominance of Windows is self-reinforcing: hardware and software manufacturers ensure that their products are compatible with Windows in order to have access to the large number of Windows users. Which principle best describes this scenario?

A) endowment effects

B) endorsement effects

C) economies of scale

D) network externalities

 

 

 

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July 1, 2023
    

The Discerning Reader and Writer

In the text How to Critique Journal Articles in the Social Sciences, Harris (2014) writes in the first chapter—and then repeatedly throughout the remaining chapters “there is a recurring theme that runs through the book: Research is better than ordinary human inquiry but is far from perfect” (p. 8). The aim of the text is to heighten your sensitivity to the notion that when you engage with social science research, you need to do it with eyes (and mind) wide open—not naively—but with a healthy dose of skepticism. Just as in art where the craftsperson who has a discerning eye can expertly critique what appears to be a masterful work to the novice artist, you, too, are gaining mastery skills for how to critique social science research, and that includes your own. That skillful discernment carries over to not only the substantive content of the study but the way it is carried out, written up, and presented.

For this assignment, you will read three chapters: the first on measurement, the second on sampling, and the third on analysis. If ever there are sections of research that can be likened to art, surely it is housed in those three. The researcher operates as both scientist and artist as he or she takes a hunch or idea or hypotheses and digs deeper to find the reality of what exists and what does not, and then seeks to present the findings in both practical and aesthetic ways for the readership. Consider how your approach to scholarly endeavors and search for knowledge and truth can be metaphorically likened to what Michelangelo said about his masterful sculpting:

“The sculpture is already complete within the marble block, before I start my work. It is already there; I just have to chisel away the superfluous material.”

Research often involves hundreds or thousands of pieces of data. Information can be compiled for many different variables, and computer programs can be used to model the relationships between them. From their reading of prior studies, social scientists bring a deeper theoretical understanding of the many constraints that shape human behavior, which informs their sampling, measurements, and analyses. Then, as they compose their final reports, researchers describe their findings with precision and caution rather than speaking in hyperbole. All of this is, arguably, far superior to ordinary human inquiry. (Harris, 2014, p. 84)

Virtuous Business Model

Image displaying the Be Know Do virtues of a virtuous organization and a virtuous leader.

References

American Psychological Association. (2020). Publication manual of the American Psychological Association (7th ed.). https://doi.org/10.1037/0000165-000(new tab)

Harris, S. R. (2014). How to critique journal articles in the social sciences. Sage.

Upon successful completion of this discussion, you will be able to:

  • Integrate the Virtuous Business model into their reading, research, writing, and reporting.

Instructions

  1. Review the rubric to make sure you understand the criteria for earning your grade.
  2. Read chapters 5, 6, and 7 in How to Critique Journal Articles in the Social Sciences.  
  3. Locate, download, and read one full-text, quantitative, scholarly article at least 10 pages in length that would be beneficial for a research study on the Virtuous Business Model. Use the quantitative scholarly article to address the following prompts:
    1. For Chapter 5, answer all the questions for #1 in Exercise 5.2 (p 59).
    2. For Chapter 6, identify existing sampling limitations.
    3. For Chapter 7, complete the inquiry in Exercise 7.2 (p. 81).
  4. Use Grammarly to edit your discussion post and classmate response before submitting.
  5. Use APA formatting for all citations and references.
  6. Submit the initial discussion post by Day 5 of the workshop.
  7. Read and respond to at least one of your classmates’ postings and any follow-up instructor questions directed at you by the end of the workshop. When responding, utilize at least one of the following ways to engage in scholarly dialogue: 
    1. Extension: Expand the discussion.
    2. Relevancy: Relate the topic to a current event.
    3. Exploratory: Probe facts and basic knowledge.
    4. Challenge: Interrogate assumptions, conclusions or interpretations.
    5. Relational: Make comparisons or contrasts of themes, ideas, or issues.
    6. Diagnostic: Probe motives or causes.
    7. Action: Identify application or an action in personal or work life.
    8. Cause & Effect: Cite causal relationships between ideas, actions or events.
    9. Hypothetical: Pose a change in the facts or issues.
    10. Priority: Seek to identify the most important issues.
    11. Summary: Elicit synthesis
default image
July 1, 2023
    

The Discerning Reader and Writer

In the text How to Critique Journal Articles in the Social Sciences, Harris (2014) writes in the first chapter—and then repeatedly throughout the remaining chapters “there is a recurring theme that runs through the book: Research is better than ordinary human inquiry but is far from perfect” (p. 8). The aim of the text is to heighten your sensitivity to the notion that when you engage with social science research, you need to do it with eyes (and mind) wide open—not naively—but with a healthy dose of skepticism. Just as in art where the craftsperson who has a discerning eye can expertly critique what appears to be a masterful work to the novice artist, you, too, are gaining mastery skills for how to critique social science research, and that includes your own. That skillful discernment carries over to not only the substantive content of the study but the way it is carried out, written up, and presented.

For this assignment, you will read three chapters: the first on measurement, the second on sampling, and the third on analysis. If ever there are sections of research that can be likened to art, surely it is housed in those three. The researcher operates as both scientist and artist as he or she takes a hunch or idea or hypotheses and digs deeper to find the reality of what exists and what does not, and then seeks to present the findings in both practical and aesthetic ways for the readership. Consider how your approach to scholarly endeavors and search for knowledge and truth can be metaphorically likened to what Michelangelo said about his masterful sculpting:

“The sculpture is already complete within the marble block, before I start my work. It is already there; I just have to chisel away the superfluous material.”

Research often involves hundreds or thousands of pieces of data. Information can be compiled for many different variables, and computer programs can be used to model the relationships between them. From their reading of prior studies, social scientists bring a deeper theoretical understanding of the many constraints that shape human behavior, which informs their sampling, measurements, and analyses. Then, as they compose their final reports, researchers describe their findings with precision and caution rather than speaking in hyperbole. All of this is, arguably, far superior to ordinary human inquiry. (Harris, 2014, p. 84)

Virtuous Business Model

Image displaying the Be Know Do virtues of a virtuous organization and a virtuous leader.

References

American Psychological Association. (2020). Publication manual of the American Psychological Association (7th ed.). https://doi.org/10.1037/0000165-000(new tab)

Harris, S. R. (2014). How to critique journal articles in the social sciences. Sage.

Upon successful completion of this discussion, you will be able to:

  • Integrate the Virtuous Business model into their reading, research, writing, and reporting.

Instructions

  1. Review the rubric to make sure you understand the criteria for earning your grade.
  2. Read chapters 5, 6, and 7 in How to Critique Journal Articles in the Social Sciences.  
  3. Locate, download, and read one full-text, quantitative, scholarly article at least 10 pages in length that would be beneficial for a research study on the Virtuous Business Model. Use the quantitative scholarly article to address the following prompts:
    1. For Chapter 5, answer all the questions for #1 in Exercise 5.2 (p 59).
    2. For Chapter 6, identify existing sampling limitations.
    3. For Chapter 7, complete the inquiry in Exercise 7.2 (p. 81).
  4. Use Grammarly to edit your discussion post and classmate response before submitting.
  5. Use APA formatting for all citations and references.
  6. Submit the initial discussion post by Day 5 of the workshop.
  7. Read and respond to at least one of your classmates’ postings and any follow-up instructor questions directed at you by the end of the workshop. When responding, utilize at least one of the following ways to engage in scholarly dialogue: 
    1. Extension: Expand the discussion.
    2. Relevancy: Relate the topic to a current event.
    3. Exploratory: Probe facts and basic knowledge.
    4. Challenge: Interrogate assumptions, conclusions or interpretations.
    5. Relational: Make comparisons or contrasts of themes, ideas, or issues.
    6. Diagnostic: Probe motives or causes.
    7. Action: Identify application or an action in personal or work life.
    8. Cause & Effect: Cite causal relationships between ideas, actions or events.
    9. Hypothetical: Pose a change in the facts or issues.
    10. Priority: Seek to identify the most important issues.
    11. Summary: Elicit synthesis
default image
July 1, 2023
    

The Discerning Reader and Writer

In the text How to Critique Journal Articles in the Social Sciences, Harris (2014) writes in the first chapter—and then repeatedly throughout the remaining chapters “there is a recurring theme that runs through the book: Research is better than ordinary human inquiry but is far from perfect” (p. 8). The aim of the text is to heighten your sensitivity to the notion that when you engage with social science research, you need to do it with eyes (and mind) wide open—not naively—but with a healthy dose of skepticism. Just as in art where the craftsperson who has a discerning eye can expertly critique what appears to be a masterful work to the novice artist, you, too, are gaining mastery skills for how to critique social science research, and that includes your own. That skillful discernment carries over to not only the substantive content of the study but the way it is carried out, written up, and presented.

For this assignment, you will read three chapters: the first on measurement, the second on sampling, and the third on analysis. If ever there are sections of research that can be likened to art, surely it is housed in those three. The researcher operates as both scientist and artist as he or she takes a hunch or idea or hypotheses and digs deeper to find the reality of what exists and what does not, and then seeks to present the findings in both practical and aesthetic ways for the readership. Consider how your approach to scholarly endeavors and search for knowledge and truth can be metaphorically likened to what Michelangelo said about his masterful sculpting:

“The sculpture is already complete within the marble block, before I start my work. It is already there; I just have to chisel away the superfluous material.”

Research often involves hundreds or thousands of pieces of data. Information can be compiled for many different variables, and computer programs can be used to model the relationships between them. From their reading of prior studies, social scientists bring a deeper theoretical understanding of the many constraints that shape human behavior, which informs their sampling, measurements, and analyses. Then, as they compose their final reports, researchers describe their findings with precision and caution rather than speaking in hyperbole. All of this is, arguably, far superior to ordinary human inquiry. (Harris, 2014, p. 84)

Virtuous Business Model

Image displaying the Be Know Do virtues of a virtuous organization and a virtuous leader.

References

American Psychological Association. (2020). Publication manual of the American Psychological Association (7th ed.). https://doi.org/10.1037/0000165-000(new tab)

Harris, S. R. (2014). How to critique journal articles in the social sciences. Sage.

Upon successful completion of this discussion, you will be able to:

  • Integrate the Virtuous Business model into their reading, research, writing, and reporting.

Instructions

  1. Review the rubric to make sure you understand the criteria for earning your grade.
  2. Read chapters 5, 6, and 7 in How to Critique Journal Articles in the Social Sciences.  
  3. Locate, download, and read one full-text, quantitative, scholarly article at least 10 pages in length that would be beneficial for a research study on the Virtuous Business Model. Use the quantitative scholarly article to address the following prompts:
    1. For Chapter 5, answer all the questions for #1 in Exercise 5.2 (p 59).
    2. For Chapter 6, identify existing sampling limitations.
    3. For Chapter 7, complete the inquiry in Exercise 7.2 (p. 81).
  4. Use Grammarly to edit your discussion post and classmate response before submitting.
  5. Use APA formatting for all citations and references.
  6. Submit the initial discussion post by Day 5 of the workshop.
  7. Read and respond to at least one of your classmates’ postings and any follow-up instructor questions directed at you by the end of the workshop. When responding, utilize at least one of the following ways to engage in scholarly dialogue: 
    1. Extension: Expand the discussion.
    2. Relevancy: Relate the topic to a current event.
    3. Exploratory: Probe facts and basic knowledge.
    4. Challenge: Interrogate assumptions, conclusions or interpretations.
    5. Relational: Make comparisons or contrasts of themes, ideas, or issues.
    6. Diagnostic: Probe motives or causes.
    7. Action: Identify application or an action in personal or work life.
    8. Cause & Effect: Cite causal relationships between ideas, actions or events.
    9. Hypothetical: Pose a change in the facts or issues.
    10. Priority: Seek to identify the most important issues.
    11. Summary: Elicit synthesis
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