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In this chapter, you learned how newspapers, magazines, and broadcasters are using participatory journalism to have their readers to create news items and stories. In 200 words, outline at least five specific ways in which Mindstorms community members create value for Lego.

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Chika Ilonah
Chika IlonahLv10
29 Sep 2019

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Related questions

In The News: Pizza, sub sandwiches, furniture, shoes, and many other products are considered to be in the monopolistic competitive market structure. 1.Use the keyword ECONOMIC NEWS in an Internet search engine (Google, Bing, etc.) to locate online news sources such as CNN News, the NYTimes, Chicago Tribune, Forbes, US News, and World Report, or any of the various other nationally recognized news providers. NOTE: Make sure the story you select reflects the material covered in the chapter. This is best accomplished by using the ADVANCED SEARCH option and also choosing appropriate categories such as "Business" or "Economics" when the option exists. Also choose sort by "RELEVANCE" to further refine the search process.

2.Select a news provider and use their search feature to locate a news story on one of the following suggested concepts, or on a topic of interest to you that is appropriate to this chapter. Possible search terms: Product differentiation Sales strategies Advertising (Purpose of) Brand names (or search for the news on a specific brand name you purchase) Trademarks Direct marketing

3.Write a 1-2 page summary of the information and also explain how it relates to what you have just learned.

(1b, 2a) Chapter 25  Monopolistic Competition

(1b, 2a) Chapter 26 - Oligopoly and Strategic

Economics Today 17th Edition Roger LeRoy Miller

In Chapter 1, you learned that buying and selling textbooks are two separate decisions made at the margin. Textbooks create value both when they are bought and when they are sold.

Think about your decision to buy the textbook for this course. You paid $200 for the book, but you would have been willing to pay $450 to use the book for the semester. Suppose that at the end of the semester you could keep your textbook or sell it back to the bookstore. Once you have completed the course, the book is worth only $50 to you. The bookstore will pay you 50% of the original $200.

How much total value have you gained?

Macroeconomics ( 250-300 words)

Read the Introduction (pp. 1-13) and excerpt from Chapter 2: Free Peanuts and Expensive Batteries (pp. 29-41) from The Economic Naturalist by Robert Frank.

Discuss Rudyard Kipling popularized the Just So stories as a fictional way to explain why things happened in a particular way. Robert Frank applies a similar approach to come up with non-fictional, economically sound explanations for various economic phenomena, such as why gas tanks on cars are not always on the same side; why child safety seats aren't required on planes; or why people can take as many newspapers as they want from vending machines, but not take as many sodas as they want. For the first online assignment, you will find your own example.

Using Frank's approach, find an example in the news or in your personal experience relating to the price of an item or relative prices of different items, the supply, and demand for an item, the design of an item, the wages of a particular job, an item which is sold for different prices to different people, or an item that exhibits market failure (such as a public good or that has an externality). You MUST indicate your source (ie news article, etc). Using this example, you must write an opening question such as Frank uses (eg. Why do restaurants offer free refills on coffee? or Why do color photographs sell for less than black and white?). Give your reasoning using the relevant concept in microeconomics to explain the situation. There is probably no single correct answer, so you should make your best argument.

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