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Question: question 1 the market crash of 2008 is a prime...

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Question 1: The market crash of 2008 is a prime example of a system’s emergent behavior. Informed by this week’s concepts, analyze and justify how the market crash represents an emergent phenomenon. A key question that you may want to address in your response includes: “How did the economic system’s macro-level behavior of market crash arise from interactions among micro-level/individuals parts?” In addition, identify a number of micro-level components/behaviors that did not really signal the emergence of the market crash prior to this calamity (e.g., related to the element of surprise). An example of a micro-level behavior or component that was not a strong indicator of the market crash would be “people investing in real estate.” Please cite at least 1 resource to support your discussions.

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