Answer these questions below. Use this link to answer these question- https://www.learner.org/series/economics-ua-21st-century-edition/markets/
1. In your opinion, what are the most interesting aspects of Part I of the film, which discusses American GIs (general inlistees) returning home from WWII, marrying, starting families, and in need of a place to live – a home?
Why, according to moderator David Schoumacher, was this a scenario of “… demand in search of supply”?
Who was William Leavitt and why was he charaterized by Professor Kenneth T. Jackson of Columbia University as “… the Henry Ford of the housing market”?
Using the terminology of market disequilibrium mechanics, how would you characterize and describe this statement by William Levitt: “I remember distinctly saying to a lot of fellow officers there…’When this war is over, you beg, borrow or steal whatever you can and build housing because there’s going to be a huge backlog’ … and it turned out. It was simple economics, that’s all. People have to have roofs over their heads and there weren’t any roofs being built.”
2. In your opinion, what are the most interesting aspects of Part II of the film, which discusses the once strong and thriving but eventually faltering U.S. steel industry and steel producers and the subsequent resurrection of U.S. steel production?
Who was Kenneth Iverson and how did NUCOR go about setting up the first steel minimill based on Europe’s latest technology?
What did NUCOR use as its so-called “raw input” as the basis of steel production?
How does the use of electric furnaces and continuous casting differ from older style integrated ingot casting
3. In your opinion, what are the most interesting aspects of Part III of the film, which discusses the economic concepts that made then Washington Nationals rookie pitcher Stephen Strasburg … “worth so much”?
What is “free agency” and, according to journalist David Schoumacher, how did it create a market for baseball players?
How does Washington Post sports writer Dave Sheinin describe a baseball team and owner’s economics of great baseball players?
What made (makes) talented baseball players (and hyper-talented basketballers, footballers, soccer players, big leaguge medical doctors and engineers, and top tier Wall Street financiers, etc.) worth so much?
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