1-How would you define a "market" in the economics sense of the word? Give an example of a market for a good or services that does not rely on a physical store or location?

2-How has technology affected the way markets are formed (think in terms of transaction costs)How might this affect prices?

3- Define the Law of Demandand theLaw of Supply. Provide an example of each from your own life that illustrates these laws at work.

4-How can a price ceiling imposed on a particular product create a shortage? Provide a specific example. Think about whether this price ceiling would have to be above or below the market equilibrium price.

5-List each of the factors that can shift a demand curve. Remember, we are talking about a shift of the demand curve, not a movement along the demand curve. In other words, price is not one of the factors.

6-Give a real-life example of the way each of these factors has affected the demand curve for a product (you may use different products for each of the examples).

7- You are the first shift department manager for medical records at a busy Level I trauma center, looking to fill the position for a medical records technician. The second shift department manager is interviewing with you, and is new to the job.

The second shift manager asks both candidates the following questions.

• Where are you currently working?
• What year did you graduate from high school?
• What relevant experience and skills do you have?
• Why did you leave your previous job?
• What arrangements are you able to make for childcare while you work?
• Do you have any disabilities or health problems?
• What salary are you seeking?
• Are you able to lift up to 50 lbs. as required for this job?

The first applicant is a young male, who is in the process of completing his associate's degree in health care administration. He currently has a medical records technician certificate. He has two years' experience at a doctor's office, but quit that job when he started school in order to accommodate his school schedule.

The second applicant is a young female, who is exhibiting signs of being pregnant judging by the slight round swell in her abdomen. She has experience similar to the first applicant. She has worked at a busy level I trauma hospital, while the first applicant has not.

In your first post, respond to the questions below.

1. Are any of these questions illegal to ask either candidate? If so, explain which ones and why, and provide alternatives to them.
2. If you were writing standard interview questions for a job position, what steps would you take to ensure that a potential employee's rights aren't violated?
3. What would you do if a person volunteered information that you couldn't legally ask during an interview? Give a specific example and describe how you would respond.

Give details and specific examples to support your answers. Provide a reference.

Answer rating: 100% (QA)

1 Definition of Market In economics a market refers to the interaction between buyers and sellers where goods services or resources are exchanged It doesnt necessarily have to be a physical location i... View the full answer