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Prepare an 875-word research paper as part of a marketing research committee for your organization about current microeconomic thought and theory

Economics

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Prepare an 875-word research paper as part of a marketing research committee for your organization about current microeconomic thought and theory. 

Identify the fundamental lessons the Ten Principles of Economics teaches regarding:

1)How people make decisions

2)How people interact

• How the economy works as a whole 

Explain the following to help the committee members understand how markets work:

• How society manages its scarce resources and benefits from economic interdependence.
• Why the demand curve slopes downward and the supply curve slopes upward.
  • Where the point of equilibrium is and what does it determine?
• The impact of price controls, taxes, and elasticity on changes in supply, demand and equilibrium prices.

Format consistent with APA guidelines.