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UMUC ECO103 Paper No. 1 - Micro Paper




Question;ECON 103 Economics in the Information;Age;Short;Paper #1: The Internet of Things;The objective of this short paper is to;guide you in applying economic principles to the rapidly developing ?Internet;of Things.?;The reading for this paper is;The;Internet of Things (Chui, Loffler and Roberts, 2010);After you read the article, write a short;(800-1200 word) paper in which you;1.;Draw on ?Everything Economics?;and ?Naked Economics? to define and describe monopolistic competition. In your explanation, describe the role of;product differentiation and the effects ? both good and bad ? that it has on;consumers.;2.;Explain what the ?internet of;things? is.;3.;Speculate on how the internet;of things will affect market competition, product differentiation and;consumers.;4.;Give an example of an ?internet;thing? from your own life and explain whether and why it has made you better or;worse off.;Your paper should;?;be a total of 800 to 1200;words;?;include a bibliography with at;least two references, presented in APA style;?;have been spell-checked and;grammar-checked using Word?s review utility.;Grading Rubric for Article Analysis;Item;Percent of total;Accuracy of summary;20%;Critical thinking using economic principles;40%;Applications to your life;20%;Effective writing;10%;Use of APA style in bibliography;10%


Paper#57474 | Written in 18-Jul-2015

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