MICROECONOMICS BLENDED 655197
Before completing this graded discussion. You should have full understanding of the concepts below, if you don’t please use the textbook and review them first.
Opportunity Cost, Scarcity, Production Efficiency, Allocative Efficiency, Incentives, Human Capital, Specialization, and Comparative Advantage
Instructions and Steps:
1. View the following 3 TED Talks (video presentations). As you watch the videos, take notes of any relevant information.
The secret sneaker market and why it matters | Josh Luber
The case for collaborative consumption | Rachel Botsman
Want to innovate? Become a “now-ist” | Seth Godin
2. Decide which of the 3 TED Talks best responds to this question;
Is no secret that the use of the internet, mobile applications, and social media has greatly increased collaboration, and peer to peer communication in the past 25 years. Is this ever increasing collaborative environment helping improve allocative efficiency?
3. Produce a Post of at least 200 words in which you explain your position. Your post must contain at least the following elements:
It must state the title and the author of the chosen TED talk.
It must state the reason why believe that TED talk best answers the question.
It must explicitly explain the relationship, connection, or link between the ideas provided in the TED Talk and the concept of Allocative Efficiency.
4. Produce a post Reply of at least 100 words to someone else’s post, in which you critique the post content using the Intellectual Standards (Clarity, Accuracy, Precision, Relevance and Logic). In other words, you are to use the Intellectual Standards to assess the someone else’s post. Your reply must contain at least the following elements:
It must explicitly state which of the 5 Intellectual Standards (Clarity, Accuracy, Precision, Relevance and Logic) you are using in the critique.
It must at least contain one question.
The question must be preceded or followed by a short statement pointing out what you think needs improvement.
For example, if in your opinion, the reason or rationale someone used to select one of the 3 videos was not clear, you can point that out by asking questions of Clarity, and by addressing what was unclear about the statement. An effective reply may look like this; Clarity and Precision can be improved. “when you wrote about _________, I was not sure if you meant _________ or ________. Can you say that in a different way? Can you be more specific?”.
