Assignment Five ECON 503 Name_________________________________.docx

Assignment Five ECON 503
Name:_________________________________
End of Chapter Problems
Chapter 12-(1,2,4,5,7,8,18) Chapter 13 (1,2,5,14,15,17)
Vocabulary
complement
Good used together.
complementors
Firms that produce complementary products.
countercyclical goods/inferior goods
Good for which sales vary inversely with income.
cross elasticity of demand
Percentage change in quantity demanded of one item divided by
percentage change in price of a different item.
cyclical goods/normal goods
Good for which sales vary with income.
elastic
Percentage change in quantity exceeds percentage change in
price.
income elasticity of demand
Percentage change in quantity demanded divided by percentage
change income.
inelastic
Percentage change in quantity is less than percentage change in
price.
price elasticity of demand
Percentage change in quantity demanded divided by percentage
change in price.
substitutes
Items that can be used in place of each other.
unit-elastic
Percentage change in quantity equals percentage change in
price.

average total cost (ATC)
Cost per unit of output.
constant returns to scale
The relationship between per unit costs are the size or scale of
the firm.
diminishing marginal returns
Combining increasing quantities of variable resources with
fixed resource causes marginal output to rise at diminishing
rates.
diseconomies of scale
The relationship between per unit costs and the size or scale of
the firm.
economies of scale
Cost per unit of output declines as output increases.
economies of scope
Cost per unit of output declines as more different products are
produced.
experience curve
Declining costs resulting from learning and gaining experience.
long run or planning period
Period of time just long enough that everything is variable.
Marginal Cost (MC)
Change in cost divided by change in output.
operating leverage
Ratio of fixed costs to variable costs.
short run or operating period
Period of time just short enough that at least one resource is
fixed.
cartel
Individual firms combine to act as a monopolist.
contribution margin per unit
Ratio of total fixed costs to difference between price and
average variable cost.
determinants of demand
Factors that affect demand other than own price.

ECON 503 Week Five Practice Problems
Multiple Choice
Identify the choice that best completes the statement or answers
the question.
____ 1. Elasticity is
a.
a measure of how much buyers and sellers respond to changes in
market conditions.
b.
the study of how the allocation of resources affects economic
well-being.
c.
the maximum amount that a buyer will pay for a good.
d.
the value of everything a seller must give up to produce a good.
____ 2. If the price of natural gas rises, when is the price
elasticity of demand likely to be the highest?
a.
immediately after the price increase
b.
one month after the price increase
c.
three months after the price increase
d.
one year after the price increase
____ 3. Economists compute the price elasticity of demand as
the
a.
percentage change in price divided by the percentage change in
quantity demanded.

b.
change in quantity demanded divided by the change in the price.
c.
percentage change in quantity demanded divided by the
percentage change in price.
d.
percentage change in quantity demanded divided by the
percentage change in income.
____ 4. Suppose there is a 6 percent increase in the price of
good X and a resulting 6 percent decrease in the quantity of X
demanded. Price elasticity of demand for X is
a.
0.
b.
1.
c.
6.
d.
36.
____ 5. If the price elasticity of demand for a good is 4.0,
then a 10 percent increase in price results in a
a.
0.4 percent decrease in the quantity demanded.
b.
2.5 percent decrease in the quantity demanded.
c.
4 percent decrease in the quantity demanded.
d.
40 percent decrease in the quantity demanded.

then a 20 percent decrease in price results in a
a.
0.0125 percent increase in the quantity demanded.
b.
4 percent increase in the quantity demanded.
c.
d.
then a 3 percent decrease in price results in a
a.
b.
c.
d.
____ 8. Demand is inelastic if the price elasticity of demand
is
a.
less than 1.
b.
equal to 1.
c.
greater than 1.
d.
equal to 0.
____ 9. Suppose the price of potato chips decreases from

$1.45 to $1.25 and, as a result, the quantity of potato chips
demanded increases from 2,000 to 2,200. Using the midpoint
method, the price elasticity of demand for potato chips in the
given price range is
a.
2.00.
b.
1.55.
c.
1.00.
d.
0.64.
____ 10. Using the midpoint method, the price elasticity of
demand for a good is computed to be approximately 0.75.
Which of the following events is consistent with a 10 percent
decrease in the quantity of the good demanded?
a.
a 7.5 increase in the price of the good
b.
a 13.33 percent increase in the price of the good
c.
an increase in the price of the good from $7.50 to $10
d.
an increase in the price of the good from $10 to $17.50
____ 11. Profit is defined as total revenue
a.
plus total cost.
b.
times total cost.
c.
minus total cost.
d.

divided by total cost.
____ 12. Daphne sells 300 glasses of lemonade at $0.50 each.
Her total costs are $125. Her profits are
a.
$25.
b.
$124.50.
c.
$125.
d.
$150.
Table 13-3
Number of
Workers
Output
Fixed
Cost
Variable
Cost
Total
Cost
0
0
$50
$0
$50
1
90
$50
$20
$70
2

170
$50
$40
$90
3
230
$50
$60
$110
4
240
$50
$80
$130
____ 13. Refer to Table 13-3. The marginal product of the
second worker is
a.
90 units.
b.
85 units.
c.
80 units.
d.
20 units.
____ 14. If marginal cost is greater than average total cost,
then
a.
profits are increasing.
b.
economies of scale are becoming greater.
c.
average total cost remains constant.

d.
average total cost is increasing.
____ 15. The minimum points of the average variable cost and
average total cost curves occur where the
a.
marginal cost curve lies below the average variable cost and
average total cost curves.
b.
marginal cost curve intersects those curves.
c.
average variable cost and average total cost curves intersect.
d.
slope of total cost is the smallest.
Figure 13-10
____ 16. Refer to Figure 13-10. The three average total cost
curves on the diagram labeled ATC1, ATC2, and ATC3 most
likely correspond to three different
a.
time horizons.
b.
products.
c.
firms.
d.
factory sizes.
____ 17. Refer to Figure 13-10. The firm experiences
economies of scale if it changes its level of output from

a.
Q1 to Q2.
b.
Q2 to Q3.
c.
Q3 to Q4.
d.
Q4 to Q5.
Table 14-9
Suppose that a firm in a competitive market faces the following
revenues and costs:
Quantity
Total Revenue
Total Cost
0
$0
$10
1
$9
$14
2
$18
$19
3
$27
$25
4
$36
$32
5
$45
$40
6
$54

$49
7
$63
$59
8
$72
$70
9
$81
$82
____ 18. Refer to Table 14-9. If the firm produces 4 units of
output,
a.
marginal cost is $4.
b.
total revenue is greater than variable cost.
c.
marginal revenue is less than marginal cost.
d.
the firm is maximizing profit.
____ 19. Refer to Table 14-9. At which quantity of output is
marginal revenue equal to marginal cost?
a.
3 units
b.
6 units
c.
8 units
d.
9 units

____ 20. Refer to Table 14-9. In order to maximize profit, the
firm will produce a level of output where marginal revenue is
equal to
a.
$6.
b.
$7.
c.
$8.
d.
$9.
____ 21. Refer to Table 14-9. In order to maximize profit, the
firm will produce a level of output where marginal cost is equal
to
a.
$5.
b.
$7.
c.
$9.
d.
$10.
____ 22. Refer to Table 14-9. The maximum profit available to
the firm is
a.
$2.
b.
$3.
c.
$4.
d.
$5.

____ 23. Refer to Table 14-9. If the firm’s marginal cost is
$11, it should
a.
increase production to maximize profit.
b.
increase the price of the product to maximize profit.
c.
advertise to attract additional buyers to maximize profit.
d.
reduce production to increase profit.
____ 24. Refer to Table 14-9. If the firm’s marginal cost is $5,
it should
a.
reduce fixed costs by lowering production.
b.
increase production to maximize profit.
c.
decrease production to maximize profit.
d.
maintain its current level of production to maximize profit.
Figure 14-8
Suppose a firm operating in a competitive market has the
following cost curves:
____ 25. Refer to Figure 14-8. The firm will exit the market
for any price on the line segment
a.
ABCD.

b.
AB.
c.
CD.
d.
None of the above is correct.
____ 26. Bill operates a boat rental business in a competitive
industry. He owns 10 boats and pays $1,000 per month on the
loan that he took out to buy them. He rents each boat for $200
per month. The variable cost for each boat rental is $50. In the
off season, Bill should
a.
operate his business as long as he rents at least 7 boats per
month.
b.
operate his business as long as he rents at least 1 boat per
month.
c.
operate his business as long as he rents all 10 boats each month.
d.
raise the price he charges per boat rental.
____ 27. When a perfectly competitive firm decides to shut
down, it is most likely that
a.
marginal cost is above average variable cost.
b.
marginal cost is above average total cost.
c.
price is below the firm’s average variable cost.
d.
fixed costs exceed variable costs.

____ 28. A sunk cost is one that
a.
changes as the level of output changes in the short run.
b.
was paid in the past and will not change regardless of the
present decision.
c.
should determine the rational course of action in the future.
d.
has the most impact on profit-making decisions.
____ 29. In the long run, a firm will exit a competitive
industry if
a.
total revenue exceeds total cost.
b.
the price exceeds average total cost.
c.
average total cost exceeds the price.
d.
Both a and b are correct.
____ 30. The competitive firm's long-run supply curve is that
portion of the marginal cost curve that lies above average
a.
fixed cost.
b.
variable cost.
c.
total cost.
d.
revenue.

Figure 15-5
____ 31. Refer to Figure 15-5. What price will the monopolist
charge?
a.
A
b.
B
c.
C
d.
F
____ 32. Refer to Figure 15-5. How much output will the
monopolist produce?
a.
O
b.
J
c.
K
d.
L
____ 33. For a profit-maximizing monopolist,
a.
P > MR = MC.
b.
P = MR = MC.
c.
P > MR > MC.

d.
MR < MC < P.
____ 34. In monopolistic competition as well as in monopoly,
a.
price exceeds marginal revenue for each firm.
b.
profit is zero in a long-run equilibrium for each firm.
c.
entry and exit by firms are unrestricted.
d.
there are at most a few firms in each market.
____ 35. Which of the following conditions is characteristic of
a monopolistically competitive firm in short-run equilibrium?
a.
P > AR
b.
MR > MC
c.
P > MC
d.
All of the above are correct.
Figure 16-6
____ 36. Refer to Figure 16-6. Which of the graphs depicts the
situation for a profit-maximizing firm in a monopolistically
competitive market?
a.
panel a

b.
panel b
c.
panel c
d.
panel d
MC
ATC
C
A
B
D
Quantity
Price
MC
D
MR
ATC
JK
L
A
B
C
F
G
H
O
P
Quantity
Price
As human beings, we do much of our work by cooperating with
others in groups. Small face-to-face groups meet and talk in
order to solve problems and make decisions. One of the
essential features of a group is that its members have something

in common and they believe what they have in common makes a
difference, e.g., political parties.
The largest group, and also the most complex, is society. If we
were to catagorize society's groups, we would find that we have
gone through four types and are in a fifth already. They are (1)
Hunting and Gathering, (2) Pastoral and Horticultural, (3)
Agricultural, (4) Industrial, and
(5) Post-industrial. What do you suppose the next group will
be? Any guesses?
Communication scholars, social psychologists, business
managers, and military leaders have conducted a lot of research
on group processes. What the research shows is groups vary
greatly in their effectiveness. Some produce a lot of work,
others, very little. Some present creative solutions, others, make
a lot of errors in what they think should be done.
What constitutes a group? We know it shares a common
problem but what about the size of a group? We have said
society is the largest group but does that mean a group consists
of 1000's of people? We all know the answers to these
questions. But technically, a group (the smallest) can be just
two people sharing the same problem and working to find a
solution to it.
A group has two functions:
To perform a task
To perform group maintenance
a. Make sure the group functions together
b. Make sure the group works toward the goal (produces)
c. Maintains the status of the group
NOTE: To get the Task done takes a lot of energy. If the group
is having problems with Maintenance, e.g., not functioning well

together, then energy will be wasted in trying to make sure
everyone is on the right chapter and same page. The Task will
suffer or, in some cases, not be completed. Groups that "work
well together" are said to be Cohesive, i.e., are a well-knit
group, interdependent, very little or no bickering, and have
"stick-to-it-ness."
Coherence often plays a part in Cohesiveness. Coherence is "the
length of time a group has been together." It is understandable
that if a group has been together for quite some time most of the
"maintenance" issues have been worked out, and they can focus
on the "task." But, what if someone leaves and someone new
comes in?"
I experienced this when I was asked to become the Director of
the Syracuse Elementary Pumpkin Festival. The Festival had
been running for three years when the Director moved to
another city. All the members had been together for three years,
and the group was cohesive. I anticipated having to be accepted
because I knew my leadership style was quite different than the
previous
Director's. I said I would take the Directorship only on the
condition that I would oversee the entire project and delegate
responsibility to the chairpersons of the committees. The
transition was smooth and, of course, you all know my
involvement became more than just an overseer. But direct I did
for five years. We kept our cohesiveness, and even today as the
Festival
approaches its fifteenth year in October, some of the same
members are still on the committees, and the cohesiveness
remains. Something like this doesn't usually happen because
you have to bring the "new" person up-to-speed and this takes
away from the task. There is also the possibility of personality
clashes, etc.
A Group is a Dynamic Entity. It doesn't start fully developed. It

takes time to:
Create its identity
Decide on its direction
Decide on its ways of operating
Become a small social system in its own right
As we stated, a group is composed of people who come together
for a common purpose. To function, members must
communicate and interact...therefore, size is important. Five to
eight members is ideal, although some authors will say up to ten
is okay.
As Group Members, you must:
Be identifiable to each other
Become acquainted
Define the purpose of the group
Develop a way of interacting
Establish rules and limits, formal and informal. (Norms)
A group must be able to satisfy the needs of the individuals if it
expects to hold its members. The members must become
interdependent and become aware of each other. This leads to
the concern and meaning members must have for each other.
A group becomes a part of each member's life. It is one of their
reference points. It provides them with a sense of "belonging."
Often times, when a group ends, it means a change in one's life
even, if initially, the member was forced to join the group, e.g.
military, AA, domestic abuse, etc.
One of the things you have to beware of in a group, even though
there is a common purpose, is members have "hidden agendas."
These will have to be dealt with from time to time. Struggles
will ensue, and they must be reconciled. There will also be
pressure from others for members to conform to the demands of

the group as a whole and to reach agreement on issues that
arise.
Sometimes when a problem is multifaceted or will affect other
people or departments it is too much for an individual to handle.
A lot of information is often needed, and there may be several
solutions that can be used to resolve the problem. But it isn't
easy for one person to choose the
best one. Well, this is when small groups can be beneficial. Not
only will you have many ideas or solutions provided, you also
have others who will share in the decision making and the
responsibilities that go with the solution. You can do more
research than an individual can. You can work together to come
up with the "best" solution.
With society being the biggest group we know, we also know
that within this large group are several other groups of varying
sizes. There are "Primary Groups", "Secondary Groups", and "In
and Out Groups."
A Primary group is one where you have a face-to-face
relationship with others in the group. It provides emotional
needs, self-esteem, knowing someone needs you and appreciates
you, a sense of "belonging", and a feeling that you are not alone
and can count on others to help. We have to be careful though
because Primary groups can also become Secondary groups.
Then the group may not satisfy the needs of the individual and
may even be detrimental to the individual.
A Secondary group in comparison to a Primary group is usually
larger, you are more likely to be known to only a few members
of the group unless you are BPOD (Big Person On Display), and
it will be more formal, yet impersonal. However, in Secondary
groups, most often Primary groups form. From your own
experiences, I know you can cite examples of secondary groups
you have been in where you have formed a primary group with

other members. Even if it were just two or three of you meeting
for coffee, on the same committee, etc. You have formed a face-
to-face relationship with other members which satisfy the needs
which the secondary group has not provided you.
There are other groups, such as Reference groups, where we
kind of evaluate ourselves as compared to where we stand in
accordance to the standards they have to be in a specific group
of people, such as upper level managers or working for EDS
(GMC's electronic data division). You have to perform to
certain standards, behave in certain acceptable ways, dress a
certain way,
maybe even wear your hair in a certain style. And within all of
these groups, you develop a network of team members, family
members, office workers, etc., and you socialize together. You
"network".
Well, all of this leads us to what is called, "The Dynamics of a
Group." Any time you have people get together for a common
cause or to solve a problem, you are going to have group
dynamics. Personalities, agendas, feelings, etc., are going to
come into play and will have to be dealt with. We know groups
are formed to satisfy security, social, esteem, group goals,
economics, etc., and we know groups just don't start out as
being a synchronized entity. Trust, which is essential to
complete the task, along with anticipation, anger, acceptance,
and self-confidence affect the individual member and the group
as a whole. If you understand the how these all work together to
develop cohesiveness, then you will have a greater chance to
complete the task the group has before it.
There are four phases a group goes through.
Phase 1 - Forming
Phase 2 - Storming

Phase 3 - Norming
Phase 4 - Performing
PHASE 1 - FORMING
In this phase, the group member looks to the leader for help in
defining goals and objectives. If there is no leader, the member
will then look to the stronger member. In this phase, forming
takes place which decides who is "in" or who is "out". This is
the INCLUSION stage. Team members want to know "What is
expected of me?", "How do I fit in?", " What are we supposed
to
do?", and "What are the rules?". Anxiety quickly follows the
initial excitement. But no one feels secure enough to be "real,"
so you probably won't see much open conflict. At this time,
you'll need to help the group develop operating guidelines or
"ground rules" that regulate how you and the group interact.
PHASE 2 - STORMING
In this phase, the group members will maneuver for control of
the group. They will either do it overtly or will sabotage the
leader. Enthusiasm usually gives way to frustration and anger.
Team members struggle to find ways to work together, and
everything seems awkward. You'll see mindless resistance,
wrangling, hostile subgroups, jealousies, and general disgust
with the whole transition to groups. Ground rules may splinter
like trees in a cyclone. A southwestern oil refinery manager
says, "It takes everything you've have just to keep plugging.
You'll be player, coach, referee, fan, and wiener vendor all at
once."
PHASE 3 - NORMING
The group gains its balance and enters the tranquil "norming"
phase. It now begins to work together effectively. There is no

need for strong leadership, and the members are active
resources for the project. The group feels affection for each
other in this phase and will attempt to articulate the norms for
the group, such as feedback, decision making, conflict
management,
and leadership. Also, the leader will become a group member.
They will find standard ways to do routine things, and they drop
the power plays and grandstanding. The main danger now is that
team members hold back their good ideas for fear of further
conflict. Your job is to help the group blow through their
reticence - usually by increasing their responsibility and
authority.
PHASE 4 - PERFORMING
In this phase, the members distribute power and influence
among themselves and those who have the expertise. The team
goes about its business with smooth self-confidence. By now
people have learned to disagree constructively, take measured
risks, make adjustments and trade-offs, and apply their full
energy to a variety of challenges. It's important to note that
reaching the performing phase doesn't mean smooth sailing
forevermore. A group can experience a stormy period at any
time - when it's under unusual pressure, for example. The group
can also return to its forming phase if it adds or loses members.
If your group begins to recycle through earlier
phases, you again may need to take an active role in helping the
team find its balance and settle down to business. The leader is
participative and there is no issue over power, control, or
inclusions. There is an intimacy among the members. A sharing
of both personal and professional concerns with each other
takes place. Members are supportive, work as a group, utilize
the expertise of the group, and share the leadership role. This
phase exhibits high energy and excitement, considerable
constructive feedback, and no one threatens anyone else.
Sometimes there is sadness when a group disbands (Terminates-

another phase some authors include) after going through phase
four. I usually have a party at the end of a class on small groups
or group dynamics. It makes it a little easier to let go of some
of the friendships that have developed. It is not unusual for the
group members to continue to meet socially just to be with each
other.
You will find even though all groups move through these phases
they do not move through them same way. Some get stuck in a
phase. It is possible that a group will never get out of the
storming phase. In the Small Group graduate class I teach, I
have seen groups wait until a member leaves to go to the
bathroom or for a "smoke" and then make some decisions while
s/he is gone.
If you are ever in a group like this, you might want to analyze
what the leadership is. Is the leader weak or is there no leader?
Perhaps everyone wants to be the leader, and a power struggle
is taking place. Try to get your group moving. Point out where
you are, where you need to be, how to get there.
There are some groups where they "hit" it off immediately. Just
like they have been together for a period of time. They don't
stay in the forming or storming phases very long and in some
cases, skip the storming phase altogether. It is all together
possible they may just go straight to the
Performing Phase.
We discussed a little about new members entering a group.
When this happens you usually have to go back to the Norming
Phase or even the Storming Phase to bring the new member(s)
up-to-speed. It is rare that a new entry just fits right in.
The titles for these phases are just that. A group doesn't say,
"Well, we have to get through this Forming Phase and then get

into the Storming Phase, etc." Groups go through these, usually
in the order listed, but at different rates and, as we mentioned,
may even have to repeat some of the phases to enable the group
to work toward its goal. When you become a member of a group
again, see if you can identify the phases your group is going
through. I think you will enjoy observing the process.
Leadership. What is it? What kind of leadership is there? Are
there styles of leadership? To be a leader, you have to have
someone to lead, and you have to have a goal. Therefore,
Leadership is a leader, members who follow the leader, and a
goal. Now don't get me wrong when I talk about
"followers." In a strong, cohesive group, the members don't
necessarily "follow" the leader. Rather, they work with him/her
to accomplish the goal. Leadership is also getting things done or
making things happen that, without the leader actively pursuing
the issues, would not happen. There are many definitions of
leadership and kinds of leadership. Following are six
theoretical views of leadership (Napier/Gershenfeld "Groups
Theory and Experience").
Leadership as:
Power
Organization Leadership
Trait Theory
Situational Theory
Vision Theory
Ethical Assessment
POWER: The leader empowers or enables the members to take
responsibility for the resulting action. But power is not
universal. It is limited by the person being influenced. You have
only the power that those being influenced let you have. So,
don't get too big headed because if the group feels you aren't
doing what they want you to do, you may be out of the

leadership role. A powerful person has power over those s/he
can influence and only in the areas and in the
parameters which the person being influenced allows.
There are several kinds of Leadership Powers.
Referent Power: A leader who has Referent Power is someone
you identify with in certain areas and are influenced by them
without feeling compelled or manipulated to do so.
People of high status, someone we regard as important, someone
who has charisma, someone who speaks for us, represents our
views, or understands our feelings and positions on certain
issues are leaders who have Referent Power. But, this power is
only good for as long as they represent us in the manner
described above.
Think back to your childhood. Your parents had Referent
Power, but when you became teenagers, did they continue to
have Referent Power or did you disagree with some of the ways
they tried to influence you?
Legitimate Power: A person with Legitimate Power is someone
who has an authority relationship with the group members
through his/her position.
They are given the authority to make decisions for others. This
power may come from being a top-level manager, from
appointment by a CEO, governmental agency, etc., or a
congressperson who represents our voting preferences.
Expert Power: Someone with Expert Power has specialized
skills, knowledge, or information about the issue or problem
facing the group.
Reward Power: If you comply to this person's rules, regulations,
requests, etc., you receive some type of reward.

Think about elementary school where you received stars or
check marks or some other form of reward for only talking
when asked, staying in your seat, or being quiet in line. Think
of the allowance you received from your parents for doing
"chores" or a deduction in you allowance if you didn't do the
chore. (Negative Reward?)
Reward Power is often Situational. For example, if you are in a
position of authority such as a parent or a boss, you have power
to give rewards. With this type of power, you have to remember,
you have a choice. If you were told you could receive $5 for
each student you could get to sign up for one class at Baker,
would it be enough of an incentive to get you to work
hard at this? What about when you were young? Did your
parents ever say, "You finish your dinner, and I will let you
have a popcicle." But, you would rather have an ice-cream cone.
Would you be compelled to finish your dinner? Sometimes the
reward isn't worth the effort for us to reach for the "carrot," so,
we choose not to.
Coercive Power: A person using this power says, "Do it or
else." You may have been told you couldn't go to the movies
unless you cleaned you room, or, if I catch you lying to me, you
will be grounded for six months. You are threatened with some
type of negative consequence.
A person with Coercive Power leaves you no chance of getting
away from their influence. If you don't do what they say, you
pay.
Organizational Power: Depending upon where a person is on the
ladder of an organization, their positional influence determines
the power they have in the organization. The higher up the
ladder, more apprehension and anxiety is created when a change
in leadership is made. What will the new "boss" do? Will

programs be cut? Will I be down-sized? What? What? What?
Someone said, "The higher up the ladder you go, the more
exposed your rear end becomes." Make sure when you are
climbing that ladder, you keep it covered.
Trait Theory: Are leaders born or made? If your mom or dad
was a strong leader of some organization, will you be a strong
leader? Can you be trained to be a good leader? This is the
debate that has gone on for a long time, and a lot of different
views have been projected.
Situational Theory: Simply put, this means anyone can become
a leader in an area where they have mastered the content,
knowledge, and skills of the specific area and have learned the
techniques of leadership.
Vision Theory: This involves looking at the needs of society
and making people aware of what may happen in the future,
e.g., The Ozone Layer. What will happen if we don't stop
depleting the ozone layer or studying a societal issue and
drawing people's attention to it.
Ethical Assessment: Leaders here try to get the members to
work on certain goals that both the leader and they, as members
of the group, value. Working together on the goal(s) is the
motivational factor along with satisfying their wants and needs
and obtaining their expectations.
Ethical leaders respect each member, have a lot of tolerance
regarding opinions of opposite views, accept all cultures in their
groups and in doing so, set goals to raise both the group
members and themselves to higher levels of performance and
achievement.

Styles of Leadership
Autocratic
Democratic
Laissez-faire
Autocratic Style: A dictator, a coercive leader, a "You are going
to do it my way" leader. And yet, an Autocratic Leader can also
be a person who accepts responsibility for their decisions, will
stand up for their ideas, and can be a directive type of leader
rather than a dictator or coercive leader.
Democratic Style: Usually we describe this style as a person
who is well liked and the group responds to positively. But is it
always "paradise" in camp? Do all of the decisions have to be
group decisions? Does giving up power have anything to do
with being a "popular" leader? Is this what Democratic
Leadership is about?
Laissez-faire Style: A hands-off style. A person who may be
viewed as not knowing much, doesn't want to make decisions
because of having to take responsibility for them, is not
creative, or is incompetent. A Laissez-faire Leader feels the less
they rule the more creativity will be generated. The less they
rule the better the group will perform.
Peer pressure, group think, styles of leadership, types of
leadership theories, and a host of other issues can slow down
the process of working toward the task. Yet, if the group is able
to work through the various roadblocks that occur in almost all
groups and not have to spend too much time on maintenance,
then the task can be achieved.

.
Analyze your experience in doing this final project by
discussing how your group went through the phases of storming,
norming etc. Then analyze your own leadership style according
to the terms discussed in the lecture. Email this to me as your
final paper. No one else in your group will see so be honest!
1. Define sustainability. Use at least two different
resources to come up with a complete definition of the term.
The definition should be written in language that is appropriate
for a college class. I.e., it should be good enough to go into a
textbook.
2. Show why we need sustainability. Give the statistics on
at least two environmental issues that are facing us today. Draw
on legitimate scientific resources for your statistics.
3. Give two examples of groups that are working for a more
sustainable future.
4. Describe in detail: what they are doing; what the potential
benefits are of their actions.
5. Analyze how their actions in sociological terms. For
example, this group is socializing the community; this group is
being deviant in this way; this group has changed the social
class structure in this way etc.
6. You must use at least 10 different sociological terms for
each group (a total of 20, no repeats) to describe what this
group is doing for an “A”.
7. The format for your presentation of the sociological terms
should be as follows (for example) .
“The sociological imagination is defined as the ability to link
the story of society to individual action. This group is using the
sociological imagination by seeing that using sustainable
farming techniques helps to preserve the planet. Their
individual actions (the way they are farming) helps to create a
more healthy planet (the story of society.)
8. Your presentation should be about 40 slides in length.

9. It should be done through powerpoint. No death by
powerpoint please! Each idea that you present that is not your
own must be cited on the slide. You can use up to five minutes
of video.
10. Make sure that it is visually as well as intellectually
interesting. Do not just use clip-art as your visual source. Use
pictures from the web, magazines, books etc. You must cite
each picture.
11. You can use references from the web, books, magazines as
long as they are academic.
12. Yes! Magazine is a great source on ideas about who and
why of sustainability
13. You need a bibliography and to cite all your resources,
including pictures. When you send me your paper about being in
groups, you also need to send me, in the same document your
grades for each other. Your grade can go down if your group
rates you poorly. See the syllabus for the grading criteria.
13. Your grade will be based on your own work as well as the
group work. 50% of your grade will be on your own
presentation; 50% on the group presentation.
14. The following rubric will be used to grade the group.
CONTENT
Definition – 10%
Why we need it – 10%
Sociological terms – 50%
PRESENTATION
Citations – 15%
Visual interest – 15%
15. The following rubric will be used to grade you individually.
CONTENT – 100%
: did your part meet the criteria of the piece you were assigned.
I.e., if you are doing the definition, how good was it? If you are
presenting the sociological concepts, how accurate are you in
applying them, etc?

Assignment Five ECON 503 Name_________________________________.docx

Assignment Five ECON 503 Name_________________________________.docx

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Assignment Five ECON 503 Name_________________________________.docx