art 1 Instructions – Two (2) Pages
1. Select an industry and describe the goods and/or services this industry produces. Pick an industry from the North American Industry Classification System (NAICS) list. (Attention Writer: My chosen industry is “Information” and the good/service is data and communication, software as a service (SAAS). See definition in this link: https://www.census.gov/cgi-bin/sssd/naics/naicsrch?code=51&search=2017%20NAICS%20Search)
2. Identify this industry’s market structure and at least two or more market characteristics that support this market structure. (Attention Writer: Please incorporate the definition and characteristics on the link above when addressing this section.)
3. Describe any notable microeconomic relationships, market outcomes, and/or trends in this industry. Include a graph, chart, or table containing related data. (Attention Writer: Please incorporate Microeconomic relationships and market outcomes of data/information technology when addressing this section.)
4. How might government impact this industry’s market prices, output, and/or market structure? (Attention Writer: Please incorporate Government intervention through price controls, industry regulations, and antitrust enforcement when addressing this section.)
5. Attention Writer: The brief/report should include a minimum of one (1) references/citations in the text above.
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Part 2 Instructions – Two (2) Pages
1. Assess the Information industry’s relative size and growth rate in the economy.
2. Identify at least one newsworthy macroeconomic indicator or policy that is important for the industry to monitor, e.g., GDP, unemployment, inflation rates, interest rates, trade policy, government taxation and spending decisions, and/or FED decisions. (Attention Writer: It would be awesome if you could incorporate the recent GDPR impacts to information when addressing this section.)
3. Explain why this macroeconomic indicator or policy is important and how it may impact the Information industry.
4. Describe a recent trend in the macroeconomic indicator or policy. Include a graph, chart, or table that illustrates the observed trend. (Attention Writer: After incorporating GDPR, please use information on GDPR within the graph of chart in this section.)
5. Conclude with a forecast for the industry based on whether the trend identified in number 4 above is expected to continue. Provide support for your conclusion.
6. Attention Writer: The brief/report should include a minimum of two (2) references/citations in the text.
7. Attention Writer: Attached is a template.
8. Attention Writer: Reference Page is needed as well.