Instructions
- Develop an economic brief that is five (5) pages long in which you:
- Select an industry and describe the goods and/or services this industry produces. Use the NAICS resource above to help you select an industry (and/or subsector) for your brief.
- Identify this industry’s market structure and at least two or more market characteristics that support this market structure.
- Describe any notable microeconomic relationships, market outcomes, and/or trends in this industry. Include a graph, chart, or table containing related data.
- How might government impact this industry’s market prices, output, and/or market structure?
- Your brief should include a minimum of one (1) reference/citation in the text.In this assignment, write a brief about economic concepts in an industry that interests you. Explain economic principles and their applications in the real world.
- Summarize the different types of market structures and the role of government in economics.
- In the workplace, we are often asked to create “briefs.” A brief provides a snapshot, or short, written summary, of a situation or event that has occurred. It is generally just a few pages long and may include additional visuals like a graph, chart, or table.
Industry Selection
- Use this resource to select an industry and learn about the products and services it provides:
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NAICS (North American Industry Classification System) https://www.census.gov/cgi-bin/sssd/naics/naicsrch?chart=2017
- (Select the number next to the industry to see its subsectors, e.g., select 52 to see Finance and Insurance.
- Select that same number again to read about the industry as a whole or select a sub-category. For example, Mining is 21, and Oil and Gas Extraction, a sub-category, is 211.)