Economic Choices and Inefficiency

Assignment No. 1: Economic Choices and Inefficiency in Business (20 Points maximum, less a 4-point penalty per day after the due date) (MLA- CITATIONS). As outlined in the first two chapters of BSZ, economics focuses on the choices that people make.

In the simplest of terms, we can consider a choice to be rational if and when the benefits of that choice are at least as great as its costs (or, conversely, if the costs are no greater than the benefits). Similarly, we say that individuals and organizations operate efficiently if their choices are designed in the best possible way to achieve their objectives while minimizing all relevant costs.

Economic Choices and Inefficiency

With this in mind, to set the stage for the rest of the course, your first assignment is to write a short essay briefly describing an inefficient work situation you have encountered or observed. As part of your answer, please make sure to discuss how you believe that the situation at hand could have been improved.MLA

Note that this essay assignment will be reviewed for originality using Turnitin. While you do not have to conform to the full writing guidelines that were posted for the term paper, note that the same general strictures on originality do apply:

ORIGINALITY:

The assignment must be your own original work and it must be written specifically for this class. The assignment will be checked for originality using turnitin.com. Any citation omissions will affect your assignment grade, but significantly plagiarized assignments will receive a grade of zero, with no exceptions and with no do-overs.

CITATIONS:

You must cite all your sources.

PROPER QUOTATIONS & QUOTATION MARKS:

You must use quotation marks, or else use indented blocks, to identify all quotations. It is OK to paraphrase and not use direct quotes only when your language is completely different from the original, but you must still give proper credit to your sources. It is not OK to just insert a few words of your own into another writer’s text and then appropriate it without using quotation marks.

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