The class was divided in two section:
Section 1: Plagiarism, AI Usage and submission
Section 2 : Supply and Demand.
AI usage (25% max regarding Westcliff policies) if not is consider plagiarism.
The professor talks about the tools that we need to use regarding the AI usage that the university has an antiplagiarism checker that is called Turnitin. This system will generate a % of plagiarism of the paper or activity we submit.
He also talk about “The rules of the game” this is regarding the late submission of the class and the percertages of penalty depending the day that you will be submitting the activity. Also by any chance you hace a critical situation and you never submit the activity you can do a grade appeal and then this will be review it. This is in case if the class is over.
By any chance if we don’t have chance to submit the assignment for whatever reason is important to email the professor and let him know the reason. Also he emphasize that the communication with him is very important regarding the submission, the grade gived is important to email him. We will allow the resubmission.
Begin of the class lesson
Elasticity of demand: Meaning
He spoke about the tariffs and the decision of the actual president of the USA are increasing them. This will affect the prices of the country giving as a result the increase also of the prices of the product that we import to the US.
The situation between tariffs in the last weeks is that he made the decision to pause the increase for 90 days.
Instability and tariffs are two thigs for sure that the US is dealing with. With this instability that is causing the increasing of the tariffs. Since the prices are going up the demand of the items will decrease, we don’t now certainly how much but will decrease. Of course, this will be reflected in products that are more expensive that the other one that are less expensive.
Consumer – Consumer Rivalry
“Consumer comoete with eah other. The ones who are willing to oay more will get it. For example an auction.” The competition of the price for the same item.
A very good example exposed on the class was when in Miami after Covid the housing bid was very aggressive since peole want ot move into Miami.
Consumer – Producer Rivalry
Is the competition when you negotiate the proce with the producer of the product.Perfect examples for this is the moment when you decide to buy a car. “negotiations between the buyer and the seller of a new house is an example”
Producer – producer rivalry
“When multiple seller of a product compete in the marketplace; scarcity of consumers causes producers to compete with one another for the right good or service”
Example: Selling software to goverments
