Annotated Bibliography for Journal of Economic Perspectives

Shiller, R.J., 2010. Speculative prices and popular models. The Journal of Economic Perspectives, 4(2), pp.55-65. The author provides the reader with rational expectations, especially in the economic revolution. People hold a lot of expectations for future economic variables, which influence their fundamental purchase behaviors. When prices drop, it is evident that demand in the market increases. Consumers will rush to satisfy their preferences with the affordable commodity at that time. When prices increase, demand decreases, as consumers tend to withdraw their constant purchase behaviors and only consume what is available and affordable at that time. This source highlights the rational expectations model, and the author emphasizes the importance of businesses to relate to gross oversimplification. Profitability will not increase when prices are increased, without considering the purchase ability of prospective consumers. This is a credible source, and the article goes ahead to highlight significance in understanding how the markets work, for the sake of making decisions based on speculations. Market dynamics should be studied and interpreted for business success. IMF. 2017. Supply and Demand: Why Markets Tick Retrieved from: https://www.imf.org/external/pubs/ft/fandd/basics/suppdem.htm The source provides information in regards to the different forms of transactions which take place in the market. In most cases, buyer –seller relationships and availability dictate the market prices, as well as trends which affect the profitability of all market participants. This is a credible source as it explains the different competitive models in the market, such as perfect competition, oligopoly market features, monopolistic market and monopolies which dominate trade in the market. The author provides distinct information in regards to quantities, determining aspects of prices, and what suppliers are willing to offer a different price ranges in the markets. The main benefit of this source is that it complements all other research work in the same field, which makes it credible. This website source helps the reader to understand different price impacts on market demand. The market conditions always need to be safeguarded, not to oppress the small scale trader and at the same time, maintain optimal levels of competition. Connor, D. 2017. Why Falling Home Prices Could Be a Good Thing Retrieved from: https://www.nytimes.com/2017/02/10/upshot/popping-the-housing-bubbles-in-the-American-mind.html This magazine article helps a long way, in helping the reader to understand the market specifics and dynamics which help shape competition and efficient market structures. The author engages the reader in rhetoric. For example, the article begins by asking; supposing there was a way which can be used to pump up the economy, for the sake of reducing inequality, would this be of help in ending depression? This magazine article helps in the identification of the impact of lowering prices both for consumers and businesses. Homes have been used to symbolize the largest assets and the ones considered most significant by the citizens in the nation. While some of these are luxuries, some are necessities such as food and clothing. According to this source, businesses cannot just thrive through a reduction in prices of their commodities. For profitability to be realized, a lot of other strategies need to be combined with a price reduction, for the sake of success.   Batra, R.N. and Ullah, A., 2014. Competitive firm and the theory of input demand under price uncertainty. Journal of Political Economy, 82(3), pp.537-548. This journal article is a credible source of information. First, the behavior of the competitive business has been emphasized, as well as the problems facing the same analyzed. Making decisions under tight economic times has proven to be very difficult for most organizations. The input demand function is downward sloping, but this only happens when the production function is also at its best. This source is highly relevant and beneficial to use, considering the ability of the author to examine firm behavior. It also highlights contributions made by other theorists, which makes it entirely relevant. The question of demand, price, and profitability has been approached from different angles. The focus of this source is about the impact of a drop in prices, which may either lead to profitability or losses. Demand and supply functions are essential in determining the profitability of organizations in the competitive industry.   Economics. Supply- Demand Market Equilibrium. Retrieved from: https://thismatter.com/economics/market-equilibrium.htm After considerable review of this source, it is evident that it cannot be termed credible in the research process. The topic under consideration has been sufficiently addressed by the source. However, a lot of weaknesses are still evident hence making it less adequate for the process. For example, the source does not have an author who can claim responsibility for the material.   It is only website specific but does not have details on its day of publication, author, publisher or even its complementary sources. The source explains how price increases lead to a shortage of buyers, leading to decreased demand in the long run. The aspects of equilibrium quantity and price have also been addressed. There is a need to adhere to all relevant aspects which make a source credible.   Data provided in the source is adequate and correct, but cannot be considered peer reviewed. Shiller, R.J., 2010. Speculative prices and popular models. The Journal of Economic  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Perspectives, 4(2), pp.55-65. IMF. 2017. Supply and Demand: Why Markets Tick. Retrieved from:  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   https://www.imf.org/external/pubs/ft/fandd/basics/suppdem.htm Conor, D. 2017. Why Falling Home Prices Could Be a Good Thing. Retrieved from:  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   https://www.nytimes.com/2017/02/10/upshot/popping-the-housing-bubbles-in-the   American-mind.html Batra, R.N. and Ullah, A., 2014. Competitive firm and the theory of input demand under price  Ã‚  Ã‚   uncertainty. Journal of Political Economy, 82(3), pp.537-548. Economics. Supply- Demand Market Equilibrium. Retrieved from:   https://thismatter.com/economics/market-equilibrium.htm