Posted: March 21st, 2023
What topic in the video program is discussed by the person, and what does the person say about that topic?
Why the person’s statement in the video is important or relevant?
What is the person’s connection, interest, or bias about the topic?
Why did you choose that person?
here is a sample how i want the answer to be like attatched down here
Requirements: Answer in two or three lines at least | .doc file
Markets Video Discussion
The person identified by name and title in the transcript is Herbert Levine, who is a Professor of Economics at the University of Pennsylvania.
In the video program, Herbert Levine discusses the topic of markets and prices, and how they determine the amount of goods and services that are produced in an economy. He explains that in a free market economy, firms make decisions about what to produce and how to produce it in order to maximize monetary profit, and that consumers and producers come together in the marketplace to determine output and prices. He also mentions that in a planned economy like the Soviet Union, firms are given production targets and are limited in the resources they can use to meet those targets.
Herbert Levine’s statement in the video is important because it provides a clear explanation of how markets and prices work in an economy, and how they determine the output and distribution of goods and services. It also helps to contrast the market system with a planned economy system.
Herbert Levine’s connection, interest or bias about the topic can be inferred from his profession as a professor of economics. He likely has a deep understanding of the subject and a strong interest in it, based on his education and research in economics.
I have chosen Herbert Levine because he is an expert in economics and is providing a detailed and clear explanation on the topic of markets and prices, making it an important part of the video program.
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