{"id":11073,"date":"2017-04-04T20:33:34","date_gmt":"2017-04-04T20:33:34","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/masterybusiness2xngcxmasterspring2016\/?post_type=chapter&p=11073"},"modified":"2017-04-05T23:04:40","modified_gmt":"2017-04-05T23:04:40","slug":"assignment-price-inelasticity-of-demand","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/suny-hccc-introbusiness\/chapter\/assignment-price-inelasticity-of-demand\/","title":{"raw":"Assignment: Price Inelasticity of Demand","rendered":"Assignment: Price Inelasticity of Demand"},"content":{"raw":"

Preparation<\/h2>\r\nThis is a written<\/em> assignment: In order to complete this assignment you will need to take the following steps:\r\n
    \r\n \t
  1. Review the written assignment guidelines.<\/li>\r\n \t
  2. Refer to the\u00a0provided grading rubric. This is how your submission will be evaluated.<\/li>\r\n<\/ol>\r\n

    Your Task<\/strong><\/h2>\r\n

    Write the DRAFT of Your Paper<\/strong><\/h3>\r\nThe assignment is as follows:\r\n
      \r\n \t
    1. Select a product, good, or service for which you believe there is, if not perfect, close to perfect<\/em> price inelasticity of demand. Refer back to course materials for clarification of what price inelasticity means.<\/li>\r\n \t
    2. Research the product, good, or service so that you have a general understanding of the market, customers, suppliers, and competition.\u00a0Consult at least one reliable, credible source and be sure to include a citation so we can see where you got your information.<\/li>\r\n \t
    3. Discuss the following questions(s) with regard to the product, good, or service. Remember, you are NOT to turn in a numbered list of responses. This is a written paper, so your responses should form a cohesive set of paragraphs, with appropriate transitions, and so on.\r\n
        \r\n \t
      1. Describe in 50 words or less the product, good, or service that you chose.<\/li>\r\n \t
      2. Why did you choose this product, good, or service?<\/li>\r\n \t
      3. Why do you believe the demand is inelastic<\/em> with regard to price? What factors are at work here? (Hint: Think back to the external factors you read about in module 1.)<\/li>\r\n \t
      4. What, if anything, could change and make the product, good, or service price elastic<\/em>?<\/li>\r\n<\/ol>\r\n<\/li>\r\n<\/ol>\r\n

        Last Steps to Completion<\/strong><\/h3>\r\n
          \r\n \t
        1. Proofread your papers for spelling and grammar errors.Spell check thinks that\u00a0eBook\u00a0<\/em>is a misspelling of\u00a0Ebola<\/em> (TRUE\u2014it happened to me last week!), so don\u2019t rely on software to catch all mistakes.<\/li>\r\n \t
        2. Verify that you have consulted one source for research besides text materials and that proper APA citation is included in your document.<\/li>\r\n \t
        3. PUT YOUR NAME ON THE PAPER\u00a0so I don't raffle it off to the highest bidder and you end up with a zero!<\/li>\r\n \t
        4. Submit your assignment on or before the due date.<\/li>\r\n<\/ol>","rendered":"

          Preparation<\/h2>\n

          This is a written<\/em> assignment: In order to complete this assignment you will need to take the following steps:<\/p>\n

            \n
          1. Review the written assignment guidelines.<\/li>\n
          2. Refer to the\u00a0provided grading rubric. This is how your submission will be evaluated.<\/li>\n<\/ol>\n

            Your Task<\/strong><\/h2>\n

            Write the DRAFT of Your Paper<\/strong><\/h3>\n

            The assignment is as follows:<\/p>\n

              \n
            1. Select a product, good, or service for which you believe there is, if not perfect, close to perfect<\/em> price inelasticity of demand. Refer back to course materials for clarification of what price inelasticity means.<\/li>\n
            2. Research the product, good, or service so that you have a general understanding of the market, customers, suppliers, and competition.\u00a0Consult at least one reliable, credible source and be sure to include a citation so we can see where you got your information.<\/li>\n
            3. Discuss the following questions(s) with regard to the product, good, or service. Remember, you are NOT to turn in a numbered list of responses. This is a written paper, so your responses should form a cohesive set of paragraphs, with appropriate transitions, and so on.\n
                \n
              1. Describe in 50 words or less the product, good, or service that you chose.<\/li>\n
              2. Why did you choose this product, good, or service?<\/li>\n
              3. Why do you believe the demand is inelastic<\/em> with regard to price? What factors are at work here? (Hint: Think back to the external factors you read about in module 1.)<\/li>\n
              4. What, if anything, could change and make the product, good, or service price elastic<\/em>?<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n

                Last Steps to Completion<\/strong><\/h3>\n
                  \n
                1. Proofread your papers for spelling and grammar errors.Spell check thinks that\u00a0eBook\u00a0<\/em>is a misspelling of\u00a0Ebola<\/em> (TRUE\u2014it happened to me last week!), so don\u2019t rely on software to catch all mistakes.<\/li>\n
                2. Verify that you have consulted one source for research besides text materials and that proper APA citation is included in your document.<\/li>\n
                3. PUT YOUR NAME ON THE PAPER\u00a0so I don’t raffle it off to the highest bidder and you end up with a zero!<\/li>\n
                4. Submit your assignment on or before the due date.<\/li>\n<\/ol>\n\n\t\t\t
                  \n\t\t\t

                  Candela Citations<\/h3>\n\t\t\t\t\t
                  \n\t\t\t\t\t\t
                  \n\t\t\t\t\t\t\t
                  CC licensed content, Original<\/div>