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University of Phoenix ECO 561 Economics Study Guides and Answers PaperScholar Study Aids
Guide Last Updated: February 28, 2015
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University of Phoenix ECO 561 Economics Study Guides and Answers

University of Phoenix ECO 561 Economics Study Guides and Answers


University of Phoenix ECO 561 Economics Study Guides and Answers

This course applies economic concepts to make management decisions. Students employ the concepts of scarce resources and opportunity costs to perform economic analysis. Other topics include supply and demand, profit maximization, market structure, macroeconomic measurement, money, trade, and foreign exchange.

  • Week One: Increasing Revenue
    • 1.1 Choose methods to increase revenue in an organization.
    • 1.2 Explain market equilibrating process.
  • Week Two: Cost Concepts
    • 2.1 Identify production level to maximize profits.
    • 2.2 Explain how to balance fixed and variable costs.
    • 2.3 Apply economic cost concepts in making business decisions.
  • Week Three: Market Structure
    • 3.1 Determine pricing strategy to meet organizational goals.
    • 3.2 Determine ways to create nonprice barriers to entry based on market structure.
    • 3.3 Determine ways to increase product differentiation based on market structure.
    • 3.4 Determine ways to reduce costs for an organization.
  • Week Four: Macroeconomic Conditions
    • 4.1 Determine the economy’s stage in the business cycle.
    • 4.2 Evaluate current macroeconomic condition based on key indicators.
  • Week Five: Credit Markets and Globalization
    • 5.1 Project the effect of credit markets on the economy.
    • 5.2 Project the effect of global economic conditions regarding trade and specialization business decisions.
  • Week Six: Improving Business Decisions
    • 6.1 Apply economic concepts in making business decisions.
    • 6.2 Integrate economic concepts and strategic planning.

ECO 561 – all questions and answers

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