Ww2 Economics Case Study Answers

1440 Words3 Pages
bulb-icon

Recommended: California drought research paper

Q. 1) In the case of the WWII housing, the supply curve represents the quantity of houses that are available for use and the demand curve represents the quantity of houses that people are looking for to use. In the case of NUCOR, the supply curve represents the quantity of steel in the market that is available for use (in this case both foreign and domestic producers are suppliers) and the demand curve represents the amount of steel that is wanted by users (in this case, the US market). Equilibrium in the market for houses means that equilibrium will be at the intersection of housing demand and housing supply which will be the point where the quantity of houses supplied is equal to the quantity of houses demanded. Equilibrium is determined …show more content…

2) In the case of NYC rent controls, the price that the rent was frozen at was a signal to demanders (or renters in this case) that they were getting a product that was below the market price and should hold onto the product. If they let go and had to search for a new apartment, they would be facing a market with higher prices than they were already paying for nearly an identical product. To the suppliers, the frozen rent price was a signal that it was not in the best interest to invest in the product (by upgrading existing apartments or building new apartment buildings) because they could not recoup enough profit for the investment to pay …show more content…

3) In the case of the California water drought and shortage of the 1970s, marginal utility is gained by the demander when there is an increase in consumption of water and a loss in marginal utility of the demander when there is a decrease in consumption of water. Because of the water shortage, the proposed rationing resulted in an attempt to impose higher usage fees on those who used more than the allotted amount of water. The people who had a lower marginal utility for water did not mind that their water usage was cut back and conserved water accordingly. Those who had a higher marginal utility for water did not mind paying a higher price for the scarce resource because the added satisfaction that they got from using an additional unit of water was greater to them than the cost of paying for it

Show More
Related

  • The Case Of The Toronto Housing Market

    709 Words  | 2 Pages

    The housing market is very unique as unlike other goods and services, houses have permanence, it is a fixed location good causing the rules of supply and demand to be taken to new extremes. In the case of the Toronto housing market we can view in almost real time the role supply and demand play on he ever increasing house prices, additionally the fundamental economic issue of scarcity is made extremely apparent by the limited size of the city of Toronto.

    Read More

  • The World War II: Relief, Recovery, and Reform

    1217 Words  | 3 Pages

    The World War II, also called The Second World War, began when the Germans invaded Poland in 1939, and when the Germans and the Japanese finally surrendered in 1945, the War ended. The United States entered the war after the Japanese bombed Pearl Harbor, Hawaii, on December 7th, 1941. During World War II, the world was divided into two major forces: Axis and Allies. The United States, Britain, The Soviet Union and the French resistance were the Allies, while Germany, Italy, and Japan were the main powers that formed the Axis. Throughout this time, the United States was giving all kinds of support to the Allies, such as armies, weapons, money and other things. The economic development in the United States had become much stronger and more powerful during World War II, and United States learned how to handle economy better than any other countries since then. The president during World War II, Franklin D. Roosevelt, has done a great deal of things, both good and bad, to resolve the problems of United States’ economy crisis during his time. The most important thing he has done to the economy was that he designed all kinds of programs to explain his three R’s: Relief, Recovery, and Reform. Because of the success of President Roosevelt’s three Rs, the American governments participated in economic affairs thoroughly, and has remained so up to this day.

    Read More

  • World War 1 Dbq Essay

    531 Words  | 2 Pages

    The deadliest war known to mankind was World War I the total of military and civilian casualties were more than 38 million. World War I began in Europe July 28th, 1914 and lasted until November 11th, 1918. The following countries that took part in the war were Britain, France, Russia, United States, Germany, Austria-Hungary, Ottoman Empire, Serbia, and Italy. Since there were many deaths it left European nations to blame one another for the violent actions that lead up to the crisis. The underlying cause of World War I was both alliances and imperialism.

    Read More

  • World War 1 Dbq Essay

    641 Words  | 2 Pages

    War is what keeps a nation from dying, it is the backbone of a country. This is the shown throughout the course of World War I, also known as “the war to end all wars.” World War I started in the summer of 1914. Archduke Francis Ferdinand, from the Austro – Hungarian Empire was visiting Bosnia. He was shot, along with his wife, Sofia, by a young man from the Black Hand, Gavrillo Princip. What were the three main factors that started World War I? There were three main underlying causes that started World War I: greed, nationalism, and militarism.

    Read More

  • The Second World War (II)

    925 Words  | 2 Pages

    Wars are good business. They create an immediate demand for a wide variety of materials needed by the government in order to fight the war. They create work opportunities for people that might not ordinarily be considered part of the normal work force. And, while not necessarily good for the soldiers engaged in the fighting, wars are always good for the businesses that provide the materials used in a war. The Second World War was very good for business.

    Read More

  • Rent Control: Pros And Cons

    1252 Words  | 3 Pages

    Those who argue in favor of rent control say that it is the only way to protect

    Read More

  • World War 2 Dbq Essay

    511 Words  | 2 Pages

    World War 1 was a deadly battle with millions dead, but do you ever wonder what caused world war 2? There are many causes for world war 2, but the item that caused an impact on the war the Treaty of Versailles. World war 1 started on August 1914 and ended on November 1918 it lasted for 4 years and 3 months. World War 2 lasted for 6 years with even more people dead and injured. So how did the versailles treaty help cause world war 2. The treaty of versailles punished Germany too harshly in four key ways: Territorial losses, showing how Germany is weak, and vulnerable, making the Germans pay, and the germans also wanted to destroy the treaty.

    Read More

  • Essay On WWII

    2293 Words  | 5 Pages

    The United States has been involved in many wars since its inception. WWII in particular had a significant impact on the world and the United States. Through the years 1939 to 1945 the majority of the world suffered many tragedies and hardships. In total, 50 million people died including women, children, civilians, and innocent bystanders. Adolf Hitler, the leader of Nazi Germany, was responsible for a significant amount of these deaths. Hitler, aligned with Japan, wanted to seize all of Europe and Japan wanted to conquer Asia. A major cause of WWII was that Germany strongly disapproved of the Treaty of Versailles. Germany especially didn’t like that they had to accept all the blame for WWI, paying $ 6,600 million for the damage they caused in WWI, and they were only allowed to have a small army and six naval ships, no tanks, no air force and no submarines were allowed. Also, the Rhineland area was to be de-militarized and taken out of Germany’s possession. All of these conditions were written in the Treaty of Versailles. During the war the world formed two sides, the Allies and the Axis Powers. The Allies included Britain, the Soviet Union, and the United States, known as “the Big 3”. The Axis Powers included Germany, Italy, and Japan. At the end of the war the Allies were triumphant and the world gained its peace.

    Read More

  • The Cause, Course, and Consequences of world War II

    386 Words  | 1 Pages

    World War II, or the Second World War, was a global military conflict which involved a majority of the world's nations, including all of the great powers, organized into two opposing military alliances: the Allies and the Axis. The Allied Powers consisted of the British Empire, the Union of Soviet Socialist Republics, and the United States of America was known as “The Big Three”. The Axis Powers consisted of Germany, Italy, and Japan, they were part of a military alliance on the signing of the Tripartite Pact in September 1940.

    Read More

  • Marginal Analysis Essay

    716 Words  | 2 Pages

    “Marginal analysis involves changing the value(s) of the choice variable(s) by a small amount to see if the objective function can be further increased (in the case of maximization problems) or further decreased (in the case of minimization problems)” (Thomas & Maurice, 2012, pp. 91). Marginal analysis is known as “the central organizing principle of economic theory” for its importance and applicability to many aspects of our daily lives as well as our careers (Thomas & Maurice, 2012, pp. 94). The key concepts of marginal analysis include total benefit, total cost, marginal benefit, marginal cost and net benefit. These concepts all come together to play a significant role in the use of marginal analysis to reach the optimal desired outcome.

    Read More

  • Economics: Demand and Quantity Demanded

    1410 Words  | 3 Pages

    In this report, I will be distinguishing Demand and Quantity Demanded by stating the differences between both terminologies. By referring to the textbook which we are using throughout our course plus resources from the internet, I have been able to collect some information about the definitions of demand and quantity demanded. The factors which affect the movement along the curve and shifting of the curve have been stated in the following pages in this report. Demand and Quantity Demanded are different in terminologies and also literally. The demand and quantity demanded curve has differences and it can be seen in the figures which I had pasted below.

    Read More

  • Market Price

    1137 Words  | 3 Pages

    Figure I I .4 illustrates the effects of an increase in demand. OD is the original demand curve so that the equilibrium price is P and quantity Q is demanded and supplied.

    Read More

  • Supply And Demand

    1824 Words  | 4 Pages

    The market price of a good is determined by both the supply and demand for it. In the world today supply and demand is perhaps one of the most fundamental principles that exists for economics and the backbone of a market economy. Supply is represented by how much the market can offer. The quantity supplied refers to the amount of a certain good that producers are willing to supply for a certain demand price. What determines this interconnection is how much of a good or service is supplied to the market or otherwise known as the supply relationship or supply schedule which is graphically represented by the supply curve. In demand the schedule is depicted graphically as the demand curve which represents the amount of goods that buyers are willing and able to purchase at various prices, assuming all other non-price factors remain the same. The demand curve is almost always represented as downwards-sloping, meaning that as price decreases, consumers will buy more of the good. Just as the supply curves reflect marginal cost curves, demand curves can be described as marginal utility curves. The main determinants of individual demand are the price of the good, level of income, personal tastes, the population, government policies, the price of substitute goods, and the price of complementary goods.

    Read More

  • Four Factors Affect The Demand Of Cars

    1000 Words  | 2 Pages

    When the price of raw material will go up or down, the production coats will rise or fall. Secondly, the price of substitute products also affect the supply curve. Because the relatived products are competitive relationship, when the price of one product goes up, another will goes down. It will affect suppy. Thirdly, production technology will affect the supply curve. When the level of technology is rising or falling , the production costs will go down or up. finally, the government policies will affect the supply curve. Positive policies will make the supply go up, conversely, it will go down. For example, the govenrment limit the amount of cars which people can buy, it will caused the supply curve down. In addition, the price of product in the future and the development of product company will also affect the supply

    Read More

  • Consequences of the World War II

    1300 Words  | 3 Pages

    In the World War I individual rights and civil liberty have died. The wartime controls had replaced the free enterprise, exchange controls and import-export regulations had replaced the free trade. The inflation had undermined the sanctity of property. The war had shrunk the rights of individuals and enhanced the power of the State.

    Read More

More about Ww2 Economics Case Study Answers

Open Document