Possibilities: Economic Analysis 1 In this assignment, you will gain insight into the methods economists use to study economic behavior and the economy. You will also examine production possibilities, the concepts of opportunity costs and increasing opportunity costs, and marginal cost and marginal benefit all vital skills for the global business leader. Requirements This assignment has three parts. Be sure you have completed all three parts before submitting. Part I Below is a production possibilities table for consumer goods (butter) and capital goods (guns). Production Possibilities Type of Production Production Alternative A Production Alternative B Production Alternative C Production Alternative D Production Alternative E Production Alternative F Production Alternative G Butter 0 1 2 3 4 5 6 Guns 14 13 11 9 7 4 0 Graph the data provided in the table using Excel: · Type your data into an Excel spreadsheet. · With your mouse, highlight the data only. · Go to "insert." Click on "scatter." · Click on "smooth lines chart." · Select the line chart. Plot data drawing line. Based on the graph you created, complete the following: · Analyze the graphed data to develop assumptions, referencing the possibility curve. . Identify the specific assumptions that underlie the production possibilities curve. . Determine the cost of more butter, if the economy is at point C. What would be the cost of producing more guns? How does the shape of the production possibilities curve reflect the law of increasing opportunity costs? . Suppose this hypothetical economy were producing only 1 item of butter and 10 guns, and this was depicted by this production possibilities table and curve. What conclusions could you draw about this economy's resource utilization? . Determine whether this economy is able to produce outside its current production possibilities. How might technological changes affect the production possibilities curve? How can international trade allow consumption above its production possibilities curve? Part II . Analyze the concept of opportunity cost. . Explain what is meant by opportunity cost. . Explain how opportunity cost relates to the definition of economics. . Determine if allocating advertising expenditures to boost sales or investing in a new plant and equipment would entail the greater opportunity cost. Explain and support your response. Part III . Apply the concept of marginal cost and marginal benefit to real-world decisions. . Provide two examples of recent decisions you made in which you, either explicitly or implicitly, weighed marginal cost and marginal benefit. Additional Requirements . Include a title page and reference page. . Include 3-4 pages, not counting title page and reference page. . Use at least two scholarly or professional resources. . Use APA format for citations and references. . Set your assignment in Times New Roman, 12 pt., double spaced. Resources . Possibilities: Economic Analysis 1 Scoring Guide. Producti.

1. Possibilities: Economic Analysis 1
In this assignment, you will gain insight into the methods
economists use to study economic behavior and the economy.
You will also examine production possibilities, the concepts of
opportunity costs and increasing opportunity costs, and
marginal cost and marginal benefit all vital skills for the global
business leader.
Requirements
This assignment has three parts. Be sure you have completed all
three parts before submitting.
Part I
Below is a production possibilities table for consumer goods
(butter) and capital goods (guns).
Production Possibilities
Type of Production Production Alternative A Production
Alternative B Production Alternative C Production Alternative
D Production Alternative E Production Alternative F Production
Alternative G
Butter 0 1 2 3 4 5 6
Guns 14 13 11 9 7 4 0
Graph the data provided in the table using Excel:
· Type your data into an Excel spreadsheet.
· With your mouse, highlight the data only.
· Go to "insert." Click on "scatter."
· Click on "smooth lines chart."
· Select the line chart. Plot data drawing line.
Based on the graph you created, complete the following:
· Analyze the graphed data to develop assumptions, referencing
the possibility curve.
. Identify the specific assumptions that underlie the production
possibilities curve.
. Determine the cost of more butter, if the economy is at point
C. What would be the cost of producing more guns? How does
the shape of the production possibilities curve reflect the law of

2. increasing opportunity costs?
. Suppose this hypothetical economy were producing only 1
item of butter and 10 guns, and this was depicted by this
production possibilities table and curve. What conclusions
could you draw about this economy's resource utilization?
. Determine whether this economy is able to produce outside its
current production possibilities. How might technological
changes affect the production possibilities curve? How can
international trade allow consumption above its production
possibilities curve?
Part II
. Analyze the concept of opportunity cost.
. Explain what is meant by opportunity cost.
. Explain how opportunity cost relates to the definition of
economics.
. Determine if allocating advertising expenditures to boost sales
or investing in a new plant and equipment would entail the
greater opportunity cost. Explain and support your response.
Part III
. Apply the concept of marginal cost and marginal benefit to
real-world decisions.
. Provide two examples of recent decisions you made in which
you, either explicitly or implicitly, weighed marginal cost and
marginal benefit.
Additional Requirements
. Include a title page and reference page.
. Include 3-4 pages, not counting title page and reference page.
. Use at least two scholarly or professional resources.
. Use APA format for citations and references.
. Set your assignment in Times New Roman, 12 pt., double
spaced.
Resources
. Possibilities: Economic Analysis 1 Scoring Guide.
Production Possibilities Curve 1 Link:
https://www.youtube.com/watch?v=hHz77q5JBTk

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The Interview Process: Selecting the Right"
How do you select the right person for your business? There is
no perfect answer, but the interview process can be a
tremendous help if you use it effectively. In other words, you
must have completed all of the other steps in the hiring
process in order to get the most out of the interview process.
Inter viewing candidates for a position within your company is
one of the final steps in the hiring process. Before you get to
this step, you want to make sure that you’ve completed all of
the preceding steps since each of these steps will have a
direct impact on how effective the interview process will be.
Below is a list of the steps involved in the hiring process. Note
that after you have completed the interviewing process, there
are still two additional key steps that you need to complete.
In order to achieve the best hiring results possible, just

4. remember that all of the steps are important.
In order, the key steps to finding the right person to fill a
position in your company include:
• Determining your need to hire a new employee. Are you
properly utilizing the skills and talents of your current
employees? Do you know what needs to be done? Can your
business growth support a new employee?
• Conducting a thorough job analysis. What are the job’s
essential functions and key perfor mance cr iter ia?
• Writing a job description and job specification for the position
based on the job analysis.
• Determining the salary for the position, based on internal and
external equity. Is the salary comparable and
propor tional with the salaries and responsibilities of other
positions inside your company as well as similar positions
out in the marketplace?
• Deciding where and how to find qualified applicants. What are
the recruitment techniques to be used? What is
the time frame for conducting your search? Remember, adver
tising is not the only, or necessar ily the best, way to
recr uit.
• Collecting and reviewing a fair amount of applications and
resumes and then selecting the most qualified
candidates for further consideration.
• Inter viewing the most qualified candidates for the position,
based on the job’s description and specification.

5. • Checking references.
• Hiring the best person for the job.
Hopefully, after reviewing all of the resumes, you will be able
to pick and choose a select number of qualified applicants to
be interviewed. (If not, you may want to expand your time
frame and re-write any ad copy and/or look at another recruit-
ment technique)
Now that you know where the interview process fits into the
hiring process, let’s take a look at the "do’s" and "don’ts" of
conducting a Successful interview.
Conducting the Successful Interview - What to DO
1. Prepare in Advance for the Interview
• Know what you want in a candidate before you begin the
interview. Review the job specifications and require-
ments that have been prepared.
• Know the job and its responsibilities. Review the job
description.
• Prepare a list of standard questions concer ning the
candidate’s skills, abilities and past wor k perfor mance that
you want him/her to answer.
• Prepare a list of prioritized and measurable criteria, either in
the for m of a wor ksheet or other method, for analyz-
ing and comparing the candidates.

6. Paper Topic # 1
Outline one (1) job interview process, and document the
methods that
you must use to select the right person for available positions.
Highlighted below in yellow...
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• Review the candidate’s resume prior to the interview.
• Set specific appointment times and reasonable time limits.
• Be prepared to justify the use of any required employment
test. Typically, the most legally defensible tests are
those that involve a "piece of the job."
2. Collect Pertinent Information During the Interview
• Since past behavior predicts future behavior, look for the
candidate’s behavior "patterns" as you collect
information. For example, has the candidate enjoyed "big
picture" wor k or detailed analysis more? Is he/she more
of a generalist or more of a specialist? Oftentimes, by listening
to how the candidate responds to your questions
about previous jobs, you will be able to get a ver y good idea of
what their behavior will be like in the future.

7. • Tr y not to offer too much detailed information up front so
that the candidate will be able to formulate
answers that exactly fits your company’s needs. Don’t put the
right words in his/her mouth! Remember, the can-
didate (hopefully) wants the job and will be looking to say the
right thing to impress you.
• Ask questions that focus on the candidate’s past performances.
For example, if the job, such as an office man-
ager, demands an individual who is well-organized and handles
paperwor k easily, you may want to ask, "How do you
keep track of your own schedules and desk wor k in your
current position?"
• Ask specific, structured questions in regards to specific
problems that the job holder may face . Focus on
past behavior and the results of the candidate’s actions in a
particular situation. For example: "As the customer ser-
vice representative, you may encounter a few unhappy campers
who will yell and scream at you over the telephone
or in person. Have you had any exper ience dealing with
difficult customers? Who was the most difficult customer
you had to deal with? What was the situation? How did you
resolve the problem?"
• Notice how well the candidate listens and responds to the
questions asked.
• Note the candidate’s choice of words and non-verbal behavior.
Are they answering your questions clearly?
• Listen to the questions the candidate asks. Clar ify the reasons

8. why the questions are being asked. Notice which
questions he/she asks first as they may be his/her primar y
concer ns.
• Take detailed hand-written notes concerning job related topics
that will help you distinguish the candidates
from one another (especially if you will be conducting several
inter views). Help yourself remember each candidate
and each interview clear ly.
• Record information pertaining to the set criteria that will help
in the evaluation of candidates.
• Organiz e and analyz e the information immediately after the
interview when memory is fresh. Don’t try to
remember everything, it’s impossible. One idea is to "rate" each
candidate on each of the criter ia immediately follow-
ing the interview.
3. Look and Act Professionally During the Interview
• Dress appropriately.
• Av oid appearing bored and fatigued.
• Set a businesslike atmosphere.
• Structure the interview and inform the candidate of the
structure.Let the candidate know you will be focusing on
past results and that you will be taking a lot of notes.
• Provide information on the company and the job to each
candidate .
4. Treat All Candidates Fairly

9. • Use your list of standard questions during each inter view so
that you treat the applicants the same and so that
you can compare apples to apples.
• Refer to the criteria for analyzing candidates. Ask questions in
regards to the job criter ia.
• Keep all questions job-related.
• Do not ask discriminating questions.
• Show a genuine interest in ever y candidate you interview.
• If possible , have at least one other person meet and/or
interview candidates who are "finalists." They should
also "rate" the candidates on each of the criter ia; ultimately, all
interviewers should compare their "ratings" and dis-
cuss any discrepancies. Having more than one interviewer helps
control for personal biases.
5. Be Cour teous and Respectful
• Conduct the interview in a private place away from
distractions.
• Begin the interview on schedule.
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• If possible, conduct the interview without interruptions.
• Allow sufficient time for the interview.
• Appreciate the candidate’s accomplishments.
• Do not patronize the candidate.
• Do not argue with the candidate.
• Thank the candidate for his/her time and interest.
6. Facilitate Open Communication
• Immediately attempt to establish a rapport with the candidate
by breaking the ice; for example, ask about their
exper iences in a particular industry or geographical location
(refer to his/her resume).
• Promote a relaxed environment with free-flowing
conversation.
• Do not dominate the discussion by talking too much. Many
exper ts use a 80/20 rule - you talk 20% of the time
and the candidate talks 80% of the time.
• Politely probe the candidate for information by asking open-
ended questions that will provide insight into the can-
didate’s values and traits.

11. • Ask structured questions that will require some thought on the
part of the candidate.
• Listen carefully to the candidate’s answers. If they do not
provide you with specific results, probe until they do.
• Explain the selection process to the candidate. Offer realistic
time frames and stick to your word!
The Successful Interview - What NOT to DO
The following list is comprised of subject matter that is widely
regarded as "off-limits" for discussion in an interview by
employment exper ts. Most of these subjects relate directly to
federal and state employment laws. Legislation covering
equal employment opportunity is extensive and complex. Check
not only federal laws, but also your own state’s laws and
guidelines. Remember, state laws var y! Consult an attorney for
legal advice (before you begin the search process for a
new employee).
In an interview, or on an employment application, do not ask
questions...
• ..concerning the age of the candidate. Be careful using the
words "over qualified" with older candidates.
• ..about their arrest record (this is different from convictions -
in most states, it is per missible to ask if the candidate
has ever been convicted of a crime).

12. • ..about race or ethnicity
• ..concerning the candidate’s citiz enship of the U.S. prior to
hiring (It is permissible to ask "Will you be able to
provide proof of eligibility to wor k in the U.S. if hired?")
• ..concerning the candidate’s ancestr y, bir thplace or native
language (it is permissible to ask about their ability
to speak English or a foreign language if required for the job).
• ..about religion or religious customs or holidays.
• ..concerning the candidate’s height and weight if it does not
affect their ability to perform the job.
• ..concerning the names and addresses of relatives (only those
relatives employed by the organization are per-
mitted).
• ..about whether or not the candidate owns or rents his/her
home and who lives with them. (asking for their
address for future contact is acceptable).
• ..concerning the candidate’s credit history or financial
situation. In some cases, credit history may be consid-
ered job-related, but proceed with extreme caution.
• ..concerning education or training that is not required to
perform the job.
• ..concerning their sex or gender. Av oid any language or
behavior that may be found inappropriate by the candi-
date. It’s his/her standard of conduct that must be met.
• ..concerning pregnancy or medical history. Attendance records
at a previous employer may be discussed in most

13. situations as long as you don’t refer to illness or disability.
• ..concerning the candidate’s family or marital status or child-
care arrangements (it is permissible to if the can-
didate will be able to wor k the required hours for the job).
• ..concerning the candidate’s membership in a non-professional
organization or club that is not related to the
job.
• ..concerning physical or mental disabilities (asking whether
the candidate can perfor m the essential job duties is
per mitted.) The ADA allows you to ask the applicant to
describe or demonstrate how they would perfor m an
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essential function (s) when certain specific conditions are met.
Check the law or consult with an attorney before
moving forward.
Remember--When in doubt, ask yourself if the question is job-
related; if not, don’t ask!
For more infor mation:
• The U.S. Equal Employment Opportunity Commission
homepage: http://www.eeoc.gov/
• The Americans with Disabilities Act (ADA) homepage:
http://www.usdoj.gov/cr t/ada/adahom1.html

14. Determine two (2) employment laws that you must consider in
the process in question, and examine the key ramifications of
the organization's lack of enforcement of said laws.
Title VII of the Civil Rights Act of 1964
https://www.shrm.org/resourcesandtools/legal-and-
compliance/employment-
law/pages/titleviiofthecivilrightsactof1964.aspx
What is the Americans with Disabilities Act (ADA)?
https://adata.org/learn-about-ada
What Are the Consequences of Discrimination on the Job?
http://smallbusiness.chron.com/consequences-discrimination-
job-1312.html
http://www.eeoc.gov/
http://www.usdoj.gov/crt/ada/adahom1.htm
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Helpful Information for Paper Topic # 2 – Assignment 1
Predict three (3) issues that you may encounter in building
relationships with
each type of worker (independent contractors and temporary
workers)

19. Our Text book - Pg. 34 – 41 (special emphasizes on pages 39-
41)
Pros and Cons of Hiring Independent Contractors – Learn the
advantages and
disadvantages of using independent contractors rather than
employees
http://www.nolo.com/legal-encyclopedia/pros-cons-hiring-
independent-
contractors-30053.html
Advantages and Disadvantages of Temping
https://www.job-hunt.org/temporary-work/temporary-
employment-advantages-
disadvantages.shtml
What is the Difference Between A Contractor and A Temp
https://www.topechelon.com/blog/contract-staffing-
training/what-s-the-
difference-between-a-contractor-and-a-temp/
The Difference between A Contractor and A Temporary Worker
https://www.hcmworks.com/blog/american-staffing-association-
survey-results
Is an Employment Contract Necessary for Employees?
https://www.thebalance.com/is-an-employment-contract-
necessary-for-
employees-398617
Be Careful When Hiring a Contractor
http://smallbusiness.findlaw.com/employment-law-and-human-
resources/be-
careful-when-hiring-a-contractor.html
http://www.nolo.com/legal-encyclopedia/pros-cons-hiring-

20. independent-contractors-30053.html
http://www.nolo.com/legal-encyclopedia/pros-cons-hiring-
independent-contractors-30053.html
https://www.job-hunt.org/temporary-work/temporary-
employment-advantages-disadvantages.shtml
https://www.job-hunt.org/temporary-work/temporary-
employment-advantages-disadvantages.shtml
https://www.topechelon.com/blog/contract-staffing-
training/what-s-the-difference-between-a-contractor-and-a-
temp/
https://www.topechelon.com/blog/contract-staffing-
training/what-s-the-difference-between-a-contractor-and-a-
temp/
https://www.hcmworks.com/blog/american-staffing-association-
survey-results
https://www.thebalance.com/is-an-employment-contract-
necessary-for-employees-398617
https://www.thebalance.com/is-an-employment-contract-
necessary-for-employees-398617
http://smallbusiness.findlaw.com/employment-law-and-human-
resources/be-careful-when-hiring-a-contractor.html
http://smallbusiness.findlaw.com/employment-law-and-human-
resources/be-careful-when-hiring-a-contractor.html
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Highlight
Examine two (2) laws that you must follow during the
relationship building process
and specify the manner in which each law would help in the
relationship building
process:
Trends and Challenges for Work in the 21st Century - Flexible
Staffing

21. Arrangements
https://www.dol.gov/oasam/programs/history/herman/reports/fut
urework/confer
ence/staffing/9.1_contractors.htm
Protecting Temporary Workers
https://www.osha.gov/temp_workers/
Laws and Regulations Affecting Independent Contractors
https://www.thebalance.com/laws-and-regulations-affecting-
independent-
contractors-398603
Fair Labor Standards Act Advisor – Independent Contractors
http://webapps.dol.gov/elaws/whd/flsa/docs/contractors.asp
Internal Revenue Service - Independent Contractor (Self-
Employed) or Employee?
https://www.irs.gov/businesses/small-businesses-self-
employed/independent-
contractor-self-employed-or-employee
https://www.dol.gov/oasam/programs/history/herman/reports/fut
urework/conference/staffing/9.1_contractors.htm
https://www.dol.gov/oasam/programs/history/herman/reports/fut
urework/conference/staffing/9.1_contractors.htm
https://www.osha.gov/temp_workers/
https://www.thebalance.com/laws-and-regulations-affecting-
independent-contractors-398603
https://www.thebalance.com/laws-and-regulations-affecting-
independent-contractors-398603
http://webapps.dol.gov/elaws/whd/flsa/docs/contractors.asp
https://www.irs.gov/businesses/small-businesses-self-
employed/independent-contractor-self-employed-or-employee
https://www.irs.gov/businesses/small-businesses-self-
employed/independent-contractor-self-employed-or-

22. employeeCriteria 1 Information_Assignment 1Criteria 2
Information_Assignment 1
Possibilities: Economic Analysis 1 Scoring Guide
Due Date: End of Unit 1.
Percentage of Course Grade: 5%.
CRITERIA NON-PERFORMANCE BASIC PROFICIENT
DISTINGUISHED
Analyze data to
develop
assumptions.
30%
Does not analyze
data to develop
assumptions.
Develops
assumptions that are
not based on an
analysis of data.
Analyzes data to
develop
assumptions.
Analyzes data to develop
assumptions and
includes a thorough
examination of the

23. variables that can affect
an economy.
Analyze the concept
of opportunity cost.
30%
Does not analyze the
concept of
opportunity cost.
Defines opportunity
cost.
Analyzes the
concept of
opportunity cost.
Analyzes the concept of
opportunity cost in terms
of the relationship to
economics.
Apply the concepts
of marginal cost and
marginal benefit to
real-world decisions.
30%
Does not apply the
concepts of marginal
cost and marginal
benefit to real world
decisions.
Explains the

24. concepts of marginal
cost and marginal
benefit but does not
apply them to real
world decisions.
Applies the
concepts of
marginal cost and
marginal benefit to
real world decisions.
Applies the concepts of
marginal cost and
marginal benefit to real
world decisions and
includes an analysis of
the outcomes.
Correctly format
citations and
references using
current APA style.
5%
Does not correctly
format citations and
references using
current APA style.
Uses current APA to
format citations and
references but with
numerous errors.
Correctly formats

25. citations and
references using
current APA style
with few errors.
Correctly formats
citations and references
using current APA style
with no errors.
Write content clearly
and logically with
correct use of
grammar,
punctuation, and
mechanics.
5%
Does not write
content clearly,
logically, or with
correct use of
grammar,
punctuation, and
mechanics.
Writes with errors in
clarity, logic,
grammar,
punctuation, and
mechanics.
Writes content
clearly and logically
with correct use of
grammar,

26. punctuation, and
mechanics.
Writes clearly and
logically with correct use
of spelling, grammar,
punctuation, and
mechanics; uses relevant
evidence to support a
central idea.
Page 1 of 1Possibilities: Economic Analysis 1 Scoring Guide
1/11/2018https://courserooma.capella.edu/bbcswebdav/institutio
n/MBA/MBA6008/170100/Scoring_Guides...