Short Essay #3

In chapter 5, you learned the concept of inflation. Please read the article published in BBC, and discuss your opinions on whether U.S. consumers and producers in the dairy sector/industry benefit from inflation in 2017? (Biblical application is required)

http://www.bbc.com/news/business-30778491

– All papers must use a minimum of 3 sources. You must cite only peer-reviewed journal articles although the textbook is an acceptable source (however, keep in mind that the textbook is not peer-reviewed resource though).

– You MUST NOT cite online sources or any articles without year of publication and author’s name. Also, you should not cite Wikipedia and investopedia.

– All papers must follow all APA requirements. (I am only looking for accuracy of APA formatting for references)

Also, please refer to the following link, to learn more about APA style and formatting.

https://owl.english.purdue.edu/owl/resource/560/01/

– Do not just provide your opinions but your essay must demonstrate mastery and accuracy of relevant economic concepts and theory to receive full credit

– Minimum words requirement: 800 words (not including abstract, title and reference pages)

Refer to the rubric below:

Solution Preview

Abstract

Inflation is an important factor in determining economic conditions in an economy due to its effect on different stakeholders. The paper herein analyzes the implications of inflation on different stakeholders in the dairy industry. The producers and consumers of the products are adversely affected by inflation in the short run, with consequent market adjustments restoring the conditions to normalcy. On the other hand, firms involved in the milk processing activities may not experience as adverse consequences as they would shave an ideal reaction time to the inflation conditions.

(1,040 words)