Is Microsoft a monopoly? Is the electric power industry in California an oligopoly? Explain your reasoning for each.
Chapter 3 # 2 Economists Edward Lazear and Robert Michael have calculated that the average family spend two and a half times as much on each adult as they do each child. a) Does this mean that children are deprived and that the distribution is unfair? b) Do you think these percentages change with family income? If so, how? ...continues
Find THREE current articles about the economy on http://www.economist.com Write a response identifying AT LEAST one of the ten principles of economics for each article.
Explain how non-value added costs can damage a company, it sales, it costs, and it’s value chain
Jet Set Travel, Inc. (JTI) has been hugely successful in the distribution of stylish, comfortable shoes for travel. JTI sells its products to approximately 4000 retail accounts in the United States and a mix of independent distributors, licenses, and subsidiaries in 35 countries around the world. Most footwear products are produ ...continues
Is there a relationship between the "business cycle" and "inflation"?
What are some similarities and differences between monopolies and oligopolies? How would you classify Microsoft? How would you classify the power industry in your area? Explain your reasoning.
Common, public, private goods and natural monopolies
Identify similarities and differences between common goods, public goods, private goods, and natural monopolies. Provide an example of each type of good and justify your answers. Discuss possible positive or negative externalities associated with each example. How do the externalities affect the economy?
1. Laws governing business practices made which of the following illegal? a. The Clayton Antitrust Act declared horizontal mergers illegal. b. The Sherman Antitrust Act made price discrimination, tie-in contracts, and interlocking directorships illegal when their effect was to lessen competition. c. The Celler-Kefau ...continues
Chapter 2 # 4 Lawns produce no crops but occupy more land (25 million acres) in the U.S. than any single crop, such as corn. This means that the United States is operating inefficiently and hence is at a point inside the production possibility curve. Right? If not, what does it mean? Chapter 2 # 5 Groucho Marx is repor ...continues
Describe two factors that affect labor supply and two factors that affect labor demand. Using economic principles, describe how changes in the labor market have affected you or someone you know.
