Homework Question on Preferability Of Used Cars
- Your paper will provide your (economic) analysis regarding something you see in your every day life, preferably something you have experienced or something you have witnessed on any number of occasions. Look at the world around you and see what questions you have regarding “why things are the way they are”.
- Some examples (please do not use these examples):
- Why are there bike lanes surrounding Universities and Colleges?
- Why are pedestrians given the right of way?
- Why does my car dealer not fix cars on Sundays?
- Once you find your question, explain why your question makes sense using the ideas of economics.
- Use economics to explain “why things are the way they are“. Finally, if applicable, explain how reality fails to provide the economic outcome we expect (this may not apply to your question- only do this if it applies to your question). Essentially this paper is for you to understand and see how economics and economic ideas are integrated into your everyday life. These questions, when answered by a non-economist, will illicit responses like “that’s just the way it is.” or “they like it that way so why not?” or “they have a preference for it being that way.”
The paper should have:
- One inch margins,
- 12 point font,
- Times new roman characters,
- 1.5 line space with no more than a 1.5 space separating paragraphs.
- The paper should not exceed 5 pages.
- Charts, graphs, and references do not count in the maximum page total.
- There is no page minimum only a maximum number of pages.
“Why do most students tend to buy used cars while a few opt for new cars?”
Homework Answer on Preferability Of Used Cars
Economics is a discipline that draws an experience that assists individuals to understand how the national and world economy works. It assists in developing models that explicate why people operate the way they do. Economic reasoning skills are essential tools that enhance users’ capacity to analyze, as well as understanding human behavior in the social science inquiry. For instance, some consumers focus more on quality because they believe that high-quality goods have high returns, thus, high prices.
However, not everyone can manage to purchase high-quality goods. The cost-benefit analysis purports that everything that has a price-tag must also have a benefit. The question is “Why do most students tend to buy used cars while a few opt for new cars?” This question presents a dilemma that consumers usually encounter as they make buying decisions.
Virtually, all students do not need to possess cars because cars are costly to purchase, as well as to maintain. However, some colleges are not accessible without using private means. In addition, inconvenience in campus housing necessitates students to stay away from campus, and sometimes catching the public means of transport is difficult during the night. Some students may also prefer to drive home during the weekend; hence, having a personal vehicle in college is a good idea.