Macroeconomic Effects Of Exchange Rates Grad School Essay Help

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Module 3 – Case

Market Structure and Game Theory

Assignment Overview

As always, make sure to thoroughly review the required background materials before starting the assignments.  The assignment questions will require you to do some calculations and also apply the concepts from the module. Question 3 differs from previous assignments in that you have to use an online simulation tool; but this activity should be a fun break from the standard numerical problems you have been doing.

Case Assignment

1.

1.    For this problem use the Herfindahl Index to compute market concentration:

a.    Suppose Apple has 45% of the U.S. market share for smartphones, followed by Samsung with 30%, LG with 9%, Motorola with 8%, HTC with 6%, and Nokia with 2%.  What is the Herfindahl Index for the smartphone industry based on these numbers? Based on the Herfindahl Index, do you think the government would be willing to approve a merger between Apple and Samsung?

b.    Now suppose Nokia and Motorola come out with a new smartphone that takes away a huge chunk of market share from Apple and Samsung. The new market shares are 25% for Apple, 20% for Samsung, 20% for Motorola, 20% for Nokia, 10% for LG, and 5% for HTC.

2.    Use what you learned about perfect competition, monopoly, and oligopoly to answer these questions:

a.    In the table below is the quantity produced, the price, the fixed costs, and variable costs for a perfectly competitive firm that faces a constant price of $150 for its product regardless of the quantity it sells.  Use the information in the first four columns to calculate the number for the last four columns.  At what quantity should they produce based on what you find with your results?

b.    How do you think your answer might change if it became a monopolist with all of its competitors leaving the market?  Or if it became an oligopoly with only one or two competitors?

Quantity
Price
Fixed Cost
Variable Cost
Total Cost
Marginal Cost
Total Revenue
Profit/

Loss

0
150
200
–
 
–
 
 

1
150
200
$140
 
 
 
 

2
150
200
$240
 
 
 
 

3
150
200
$320
 
 
 
 

4
150
200
$410
 
 
 
 

5
150
200
$520
 
 
 
 

6
150
200
$650
 
 
 
 

7
150
200
$810
 
 
 
 

8
150
200
$1,010
 
 
 
 

9
150
200
$1,310
 
 
 
 

10
150
200
$1,710
 
 
 
 

3.

3.    You’ve read about the prisoner’s dilemma in the background readings.  Suppose you are a business owner with just one main competitor.  If neither you nor your competitor cut your prices, you will both be more profitable.  However, if your competitor lowers its prices and you keep your prices high, then you will lose all of your sales to your competitor.  Every month you and your competitor place advertisements in the local newspaper with your price – so you need to decide each month whether or not to keep prices high, or lower them based on what you think your competitor might do. Go to the following webpage and test out some of your potential price strategies: http://www.gametheory.net/Mike/applets/PDilemma/Pdilemma.html The strategy “defect” indicates lowering your prices. The strategy “cooperate” means keep prices the same. Try out different strategies, such as cooperating all the time or defecting sometimes.  There are five different rounds of this game, each with a competitor with different personalities and different strategies.  Play all five rounds and experiment with different strategic approaches.  Report your scores for each round, and discuss which strategies seemed to work the best for you.

Assignment Expectations

·        Answer the assignment questions directly.

·        Stay focused on the precise assignment questions. Do not go off on tangents or devote a lot of space to summarizing general background materials.

·        For computational problems, make sure to show your work and explain your steps.

·        For short answer/short essay questions make sure to reference your sources of information with both a bibliography and in-text citations. See the  Student Guide to Writing a High-Quality Academic Paper , including pages 11-14 on in-text citations. Another resource is the “Writing Style Guide,” which is found under “My Resources” in the TLC Portal.

Undermining Congestion Pricing essay help services: essay help services

Toll Caps Undermine Congestion Pricing Washington state advised to lift the $10 toll cap as congestion returns

Signs showing the rates for the express toll lanes for traffic headed southbound on Interstate 405 in Bothell, Wash., in 2016. Some experts say these tolls would rise exorbitantly without a cap. PHOTO: ELAINE THOMPSON/ASSOCIATED PRESS By Scott Calvert May 4, 2018 WSJ States are increasingly turning to a free-market solution for highway congestion, putting in demand-based tolls that rise in price as traffic builds. The goal is to keep more cost-conscious drivers in the free but slower lanes, and the priced express lanes humming for those willing to pay for speed. There is one hitch. Some places like Los Angeles and Miami have put caps on tolls to spare drivers potential sticker shock. Such price limits make jams more likely in express lanes, eroding their efficacy and prompting driver complaints. Without a cap, tolls on a 9-mile stretch in Virginia have almost hit $50. “There is congestion occurring almost on a recurring basis for those [capped] facilities,” said Nick Wood, an assistant research engineer at the Texas A&M Transportation Institute. In Washington state, outside experts recommend raising or eliminating the $10 cap on the 15-mile Interstate 405 express lanes east of Seattle. In Utah, the state transportation commission last year gave officials authority to quadruple the top express-lane toll on I-15, though only a doubling is planned. And in Southern California, the top

toll on the I-10 and I-110 express lanes has risen six times since 2016, most recently in March, and now stands at $2 per mile. “Someone paying a premium should get a safe, congestion-free ride on nice, new, smooth pavement,” said Greg Cohen, president and chief executive of the American Highway Users Alliance, which represents drivers. “You’re expecting a level of service that’s better than a tax-based road.” Mr. Cohen said the answer may be to add a lane— an expensive approach—instead of allowing higher tolls if most drivers won’t be able to afford them. “You’re just going to make people really angry,” he said. Political considerations are a factor in setting tolls, said Reema Griffith, executive director of the Washington State Transportation Commission. She said I-405 tolls would rise “exorbitantly” without a cap, fueling perceptions that they are “Lexus lanes” intended for wealthy motorists. “From a public acceptance standpoint that just wouldn’t be acceptable. We already have a lot of pushback from it hitting $10,” Ms. Griffith said. The express lane with demand-based tolls on I-394 in Minneapolis opened in 2005, and was among the first. Mr. Wood said there are now more than 30 such roadways in the U.S., most with a cap, and 13 others where tolls vary by time of day. Most express lanes are former high- occupancy lanes and usually can be used by carpoolers free or at a discount, he said. About six months ago, new express lanes fully opened on the MoPac freeway in Austin, Texas— with no toll limit. During planning, officials at the Central Texas Regional Mobility Authority heard capped projects elsewhere struggled with congestion, spokesman Steve Pustelnyk said. “We were advised that it would be best to avoid a cap if possible,” he said. So far, the highest toll on the 11-mile stretch has been $10.13, or just under $1 per mile. Also uncapped is a 9-mile express lane that opened in December on I-66 in Northern Virginia. Tolls have spiked to $47.50, and in March, 674

trips cost at least $40, though state officials note those trips were 0.17% of that month’s total. Through March, I-66 express-lane drivers had paid about $6 million in tolls. State officials expect that to hit $12 million by the end of June, and said nearly half will go to a regional transportation commission, with the rest paying for operations, maintenance and enforcement of high-occupancy vehicle restrictions. Mr. Wood said the top I-66 tolls are the highest he knows of in the U.S., at more than $5 per mile, followed by capped tolls in Los Angeles and in Miami, where the $10.50 limit on 7 miles of I-95 comes to $1.50 a mile. The L.A. express lanes “are very, very popular,” said Rick Jager, a spokesman for the Los Angeles County Metropolitan Transportation Authority. He said when speeds dip below 45 mph, the authority can bar paying solo drivers and temporarily revert the lanes to free carpool-only status. In Washington State, officials said the I-405 express lanes, which opened in 2015, aren’t meeting a state legislative target for traffic to go 45 miles an hour or faster at least 90% of the time in peak periods. They blame a seven-mile, one- lane segment that often bottlenecks. “There is a lot of people paying $10 in the morning to use that,” said Ed Barry, director of the state’s toll division. He said the region’s booming economy and growing population are severely taxing area roads. University of Minnesota researchers hired by the Washington legislature found speeds are higher than when the I-405 lanes were toll-free carpool lanes, and that more traffic is moving through the corridor. But they also found that during rush hour, the toll cap kicked in 15% of the time, far too often, said Matt Schmit, a senior researcher at the university’s Humphrey School of Public Affairs, adding, “There’s no congestion management at that point.” One commenter on a state transportation department blog post wondered why he pays a $10 toll to go “no faster” than cars in the free lanes. The state has tweaked its algorithm so tolls can rise more quickly, as the Minnesota experts had recommended. The state also has used toll revenue to relieve a different bottleneck. But the suggestion to alter the $10 cap hasn’t been embraced. Ms. Griffith said transportation commission members first want to see how other changes play out. One measure Mr. Barry cited is

stepped-up police enforcement against solo drivers who falsely set their in-car transponders to indicate they are carpooling. “We don’t feel like we’ve hit that point where we have to do something,” Ms. Griffith said, adding that I-405 functions much better than it did before the express lanes, when it was “completely failing.” Write to Scott Calvert at [email protected]

Corrections & Amplifications The express lane with demand-based tolls on I-394 in Minneapolis was among the first of its kind. A previous version of this article said it was the first. (May 4, 2018) Appeared in the May 5, 2018, print edition as ‘

mailto:[email protected]

Maximizing decisions that businesses make college application essay help

Raising the Minimum Wage Won’t Reduce Inequality

BY CHRISTOS MAKRIDIS February 5, 2016 New Republic Walmart is giving more than one million of its employees a raise later this month as part of a plan that will lift all but its newest hires to at least $10 an hour. The move, first announced last year, follows an aggressive campaign to get the largest private employer in the U.S. to lift worker wages and coincides with a nationwide push to raise federal and state minimum wages and a prolonged period of little growth in pay. While Walmart’s decision is at least in part a result of that pressure, it’s still the action of a private company to revamp its own wage policies, as opposed to the result of a government forcing it to lift worker pay. Proponents of requiring just that argue raising the minimum helps reduce inequality. Critics contend it can actually worsen it by driving up unemployment and weakening economy-wide labor market flexibility by raising the costs firms face. So what does the economic research say about the impact of minimum wages on income inequality and is there a better way to reduce it? Minimum wage fallacies Many of the articles in the mainstream press promoting minimum wages are incompatible with basic economic principles. The first fallacy is that changes in the minimum wage do not affect the behavioral response among firms and individuals. The second fallacy is that higher wages will force companies to innovate in order to reduce costs. Both these arguments overlook some very basic, but informative, economic principles. The first overlooks the fact that wages are designed to compensate workers for productivity. When wages are distorted, they affect the profit-

maximizing decisions that businesses make. The textbook prediction, which is generally supported in the data, is that higher minimum wages reduce employment since companies restrict the number of workers they will hire. These adverse effects are especially likely given the pace of technological change and automation. The second overlooks the fact that there are effective and ineffective ways to stimulate innovation among businesses. The idea that making hiring more costly will spur innovation is tantamount to requiring companies to reduce the size of their physical presence so they become more productive. While these types of distortions may prompt a small fraction of companies to innovate, misallocation more generally is a major factor behind cross-country differences in productivity. Minimum wage and inequality Nonetheless, economists themselves have debated how minimum wages affect employer decisions for many years. In 1994, economists David Card and Alan Krueger were the first to provide some evidence that such effects may be small. But more recently, a consensus has generally emerged that changes to minimum wages have strong effects on jobs growth. How minimum wages affect inequality, however, remains controversial. Detecting it with standard statistical methods is very challenging because their full effects are constantly changing and require data on both individuals and companies. Back in 1999, Princeton economist David Lee used the Consumer Population Survey (CPS) from 1979 to 1989 to argue that the declining purchasing power of the minimum wage largely explains why inequality surged in the 1980s. Other new research, however, has put that conclusion in doubt. Perhaps the most conclusive reassessment comes from economists David Autor, Alan Manning, and Christopher Smith earlier this year. Using many more years of microdata from the CPS, as well as a different statistical approach, they found that the minimum wage explains at most 30 percent to 40 percent of the rise in wage inequality among the lowest earners. Since economists had thought that changes in the minimum wage could explain as much as 90 percent of the shift in inequality, these new estimates are important.

https://newrepublic.com/authors/christos-makridis
http://www.huffingtonpost.com/entry/walmart-10-raise_us_56a01acde4b0404eb8f03b26
https://hbr.org/2016/01/why-the-u-s-needs-wage-insurance
http://www.huffingtonpost.com/2013/02/13/minimum-wage-productivity_n_2680639.html
http://www.bloombergview.com/articles/2015-11-23/want-to-boost-productivity-raise-minimum-wages
http://www.nber.org/papers/w19262
http://faculty.chicagobooth.edu/chang-tai.hsieh/research/MMTFP.pdf
http://davidcard.berkeley.edu/papers/njmin-aer.pdf
http://www.wsj.com/articles/the-evidence-is-piling-up-that-higher-minimum-wages-kill-jobs-1450220824
http://www.nber.org/papers/w19262
http://piketty.pse.ens.fr/files/Lee1999.pdf
https://www.aeaweb.org/articles.php?doi=10.1257/app.20140073

How wages affect worker behavior While the extent is still uncertain, it’s clear that the minimum wage and other wage-setting forces such as tax rates and union bargaining power do in fact affect inequality and the labor market. My own ongoing research, which focuses on the link between such wage-setting mechanisms and company behavior, suggests labor-market distortions like raising the minimum wage can have other negative effects on workers, businesses and inequality beyond the overall impact on employment. The first adverse effect concerns how much people work. If, for example, worker wages rise due to a government mandate, the employer may reduce the number of hours staff work, leading to lower paychecks even after the raise. That’s part of the reason why we’ve seen companies like McDonald’s increasingly try to automate tasks that were once held by people. In addition, my research suggests one of the major ways people acquire new skills is by spending more time at work. Thus policies that lead to fewer hours could lower employees’ ability to improve their long-run earnings potential. The second is an indirect effect on the way businesses invest in workers and design compensation and organizational policies. When companies are forced to pay higher wages, they may offset the cost by reducing how much they invest in workers. There is evidence that minimum wage laws have this effect. This can result in weaker compensation contracts (e.g., purely salary-based), which provide employees with fewer incentives to accumulate skills. As a result, workers paid fixed wages suffer greater long-run earnings volatility than those receiving performance-based pay. Put simply, if a recession comes and an individual loses his or her job, having more skills makes it easier to find a new position and return to the previous income level. Minimal impact on inequality Even setting aside all the plausible economic arguments against the minimum wage, under the best case scenario, what does it really achieve? If the average full-time employee works 1,700 hours per year, then moving from $7.25 an hour to $9 an hour produces only about $2,975 in additional annual earnings. While some may argue that something is better than nothing, this would be at best a marginal solution to inequality. Taking a look at the most recent 2015 Current Population Survey data and restrict the sample to

full-time earners with over $10,000 earnings per year, Americans at the 90th income percentile (they earn more than 90 percent of their compatriots, or $80,000 a year) make 5.6 times as much, on average, as those at the 10th percentile ($14,200). Increasing the minimum wage to $9 an hour would put the ratio around 4.65. In other words, even in the best of worlds—where the minimum wage has no unintended side effects —it appears to only marginally reduce inequality. Alternatives to raising the minimum wage Where does this leave us in trying to reduce inequality? First, companies are welcome to raise wages at any time they want. And letting them do so may be more effective at reducing inequality than when they’re forced to because it avoids the adverse consequences such as reducing hours. Businesses are well aware of their marginal costs and benefits—how much it costs to produce an additional unit of output versus the incremental gain. When governments set uniform wage regulations, they require all companies—each with their own and distinct marginal costs and benefits—to abide by the same rules. In contrast, when companies decide to change their own pay practices—as Walmart is doingthey do so in a more efficient way. Second, as Stanford economist John Cochrane has remarked, instead of addressing the short-term problem of low wages, governments and companies can address the more structural problem: a lack of skills. Companies and local governments can provide training programs and support for additional education, such as through community colleges, in order to equip workers with additional skills that translate into meaningful value for their companies. Investing in worker skills can lead to increased employee productivity and creativity, which in turn translates into sustained higher wages. And these benefits have broad spillover effects throughout the labor market and make sustainable gains in narrowing the gap between the richest and the poorest. While the economic effects of minimum wage laws are very complex and a subject of scrutiny within the economics community, there are much better ways to deal with systematic challenges in the labor market. Getting more people to work, reducing the barriers for businesses to hire and encouraging the accumulation of new skills are all strategies for promoting sustainable long-term growth in wages.

http://piketty.pse.ens.fr/files/Lee1999.pdf
http://davidcard.berkeley.edu/papers/union-struct-wage.pdf
https://people.stanford.edu/cmakridi
http://www.sole-jole.org/Haepp-Lin.pdf
http://www.businessinsider.com/average-annual-hours-worked-for-americans-vs-the-rest-of-the-world-2013-8
http://johnhcochrane.blogspot.com/2013/02/two-cents-on-minimum-wage.html

Rents flattening in major U.S. cities a level english language essay help: a level english language essay help

Looking for an Apartment? It Is a Great Time to Rent Rents are flattening in major U.S. cities, landlords offer a free month, Amazon gift certificates among other perks

A “For Rent” sign is posted in Carlsbad, Calif. Rents rose 2.3% in the second quarter compared with a year earlier, the weakest annual increase since the third quarter of 2010. PHOTO: MIKE BLAKE/REUTERS By Laura Kusisto June 27, 2018 WSJ It is a great time for anyone looking to rent an apartment: vacancy rates are rising and there are little or no rent increases in many major cities. For landlords, though, the U.S. apartment market suffered its worst spring since 2010, near the depths of the housing crisis. Driving this dynamic is a flood of new apartments and weakening demand. Rents rose 2.3% in the second quarter compared with a year earlier, the smallest annual increase since the third quarter of 2010, according to data from RealPage Inc. scheduled to be released on Wednesday. Rental growth was flat in major cities with otherwise strong economies—such as Austin, Portland, Seattle, Dallas and Washington, D.C.—due to large amounts of new supply. While average rents continued to grow, individual landlords cut rents in some markets. In addition, landlords are offering tenants incentives including as many as three months paying no rent, free parking, credit for ridesharing services like Uber and Lyft, and Amazon gift cards for as much as $2,500, according to renters, real-estate brokers and Hotpads, a rental search platform.

Joshua Clark, an economist at Hotpads who was looking recently for an apartment in the Capitol Hill area in Seattle, saw the $2,500 Amazon gift card offer. “I had my mouth open for a second. Seriously a lot of my expenses would be covered for the year, which would be fantastic,” he said. Landlords have enjoyed a record 32 straight quarters of annual rent growth on average, as the U.S. economy strengthened and millennials delayed homeownership. But the reports of slowing, which began in a few markets in late 2016, have intensified to the point that the balance is shifting towards renters and away from landlords. Greg Willett, chief economist at RealPage, predicted average rents nationwide could flatten if current trends continue. “It’s kind of telling as we look at some of these individual markets that are losing momentum because they’re important ones,” Mr. Willett said.

The cause of the slowdown is primarily new supply. Developers responded to escalating rents by building the most new apartments in 30 years, sending a flood of new high-end units to downtown areas across the country. Developers are expected to add 300,000 new units over the next year across the U.S., Mr. Willett said. At the same time as there are signs renter demand is starting to wane because millennials are marrying, having children and buying homes or moving into single-family rentals. The U.S. added 1.3 million owner households in the first quarter over the same period last year and lost 286,000 renter households, according to U.S. Census data released in April. Earlier this year, Manuel Valdes, 33 years old, and his wife got a surprise letter from his Seattle landlord offering to renew their lease — for $50 less than they were paying. Their rent had gone up $300 in the three years they had lived there. “We had been dreading another jump in rents,” said Mr. Valdes, who is a

http://quotes.wsj.com/RP
https://www.wsj.com/articles/u-s-existing-home-sales-fell-in-may-1529503507?mod=article_inline
https://www.wsj.com/articles/u-s-existing-home-sales-fell-in-may-1529503507?mod=article_inline
https://blogs.wsj.com/economics/2018/04/26/homeownership-trends-upward/?mod=article_inline
https://blogs.wsj.com/economics/2018/04/26/homeownership-trends-upward/?mod=article_inline

journalist. His wife, Teresa Mosqueda, sits on the local city council. They now plan to use the extra money to save for a down payment for a house. Landlords rely on the warm spring months to fill apartment buildings because renter demand trails off in the colder months of the years. “The second quarter is when you get most of your rent growth for the year,” Mr. Willett said. The softening is taking place even in high growth cities. For example, the Dallas metropolitan area has the strongest job growth in the country. But Dallas area rents were essentially flat in the second quarter, down from 3.1% annual rent growth in the second quarter last year and a recent high of more than 6% rent growth in late 2015. Landlords there are offering tenants as much as two months of free rent. The problem in Dallas, landlords said, is simply too much supply. Developers are building about 22,000 apartments right now, compared with a long-term average of less than half that. “That’s just too much inventory,” said Ric Campo, chairman and chief executive of Camden Property Trust, one of the country’s largest apartment owners. “In order to get those apartments absorbed, even with good strong job growth, it’s taking the sizzle out of the market.” In Seattle, where Amazon has been an economic powerhouse and home-price growth has been the fastest in the country, landlords are also struggling to fill new units. Rents grew just 0.5% in Seattle compared with a year earlier, down from annual rent growth of 5.6% in the second quarter of 2017 and a recent high of 8.6% rent growth a year prior to that. Michael Chotzen, a Seattle property manager, said some buildings near him in the Capitol Hill neighborhood are slashing security deposits, requiring tenants to put down several hundred dollars or nothing at all. But that can be risky. “If a tenant trashes a unit there needs to be funds to cover that,” he said. Data released Tuesday from another apartment data provider, Reis Inc. also showed a largely weak rental market across the country in the second quarter. The national vacancy rate ticked up to 4.8% from 4.3% in the second quarter of 2017. The number of additional units that were rented fell to just over 37,000 from nearly 53,000 a year earlier, suggesting demand was weaker. Despite the recent slowdown, apartment owners note that the market is far from crashing and rent growth remains just below historic norms.

Little concern has arisen that the softening could have broader economic repercussions for the U.S. financial system. Compared with the last real- estate crash, owners say there are unlikely to be many foreclosures because they are carrying much less debt. Jay Hiemenz, president and chief operating officer of Phoenix-based Alliance Residential, an apartment company, said banks are only giving loans to developers for about 65% of the cost to build a project, compared to 80% or more previously. “Absent some shock that none of us can see, we will have a softer landing,” he said.

https://www.wsj.com/articles/case-shiller-home-price-index-loses-a-bit-of-steam-1530018036?mod=article_inline
https://www.wsj.com/articles/case-shiller-home-price-index-loses-a-bit-of-steam-1530018036?mod=article_inline
https://www.wsj.com/articles/case-shiller-home-price-index-loses-a-bit-of-steam-1530018036?mod=article_inline
http://quotes.wsj.com/REIS

Economic concepts used as advantages english essay help online: english essay help online

or this assignment, suppose that you work for a consulting firm, and that you have been asked to research a company and make a presentation to your client.

For the presentation:

Choose a major U.S. company,
Research the company and the market(s) in which it competes, and
Prepare a presentation of 10-12 PowerPoint slides (with detailed speaker notes).

Using information from the business press, AIU’s Library, IBIS World, and the Internet, address the following in your slides:

Describe the firm, include such information as its:

products or services
annual sales, and
market share (this information is readily available in the IBIS World database.)

Describe the market(s) in which it operates.

For instance, does it operate within an oligopoly or monopolistically competitive market, a perfectly competitive market, or is it a monopoly? (Choose the closest fit.)
Explain.

Does it operate in only one region of the United States? Does it operate nationally or internationally?  Explain.
Who are its competitors?

Give a brief overview of the other businesses in the market that it competes against.

Identify and explain at least 2 economic concepts that this firm seems to use to its advantage.

Examples might include product differentiation; attainment of economies of scale; advertising; whether the firm is regional, national, or international; and so on.

Please include an explanation of how any significant recent events or changes in this market have affected this firm. Examples are mergers and acquisitions, technological change, legal issues, whether market demand is expanding, and so on.
Provide your evaluation of how this firm might better respond to the challenges it faces.

Present your information, with appropriate pictures and graphics, in a PowerPoint presentation.

Your presentation should consist of a minimum of 10 slides of content, and the following: a title slide, an introductory slide, a conclusions slide, and a references slide.
Use at least 2 sources when researching information to support your argument. Remember to use credible, current sources to support your presentation. Use APA reference and citation formatting for the sources that you use. Place citations on the relevant slides with 1-2 slides at the end for your reference list.
The main topics or bullet points should appear on the slides with supporting visuals, while the Speaker Notes area (the box located at the bottom of each slide that allows you to type in notes) should be used to go into more depth regarding these main topics.
Notes Boxes: Make sure the notes include information from the sources you have discovered in your research. This is a very important element of your assignment because it will provide both you and your audience with supporting explanations that the bullet posts simply cannot convey.

Please note the following:

These slides will provide you with a map that you will use when you prepare your paper submission for Unit 4.  
By doing careful research now, taking good notes, and organizing your presentation well, you will make your Unit 4 paper much easier to write.

The following offer information to help you with your research:

IBIS World Industry Reports are an excellent source of information for this assignment. IBIS World Reports are available through AIU’s Library in the Find Articles and E-books section of the e-Resources area.
https://careered.libguides.com/university_AIUOnline/companyresearch
https://studentlogin.aiuniv.edu/Library/CourseGuides/5/Tutorials/companyinformationresources.pdf

The following resources offer assistance in preparing your PowerPoint slides:

Microsoft Office Web (PowerPoint): https://support.office.com/en-us/article/Basic-tasks-for-creating-a-PowerPoint-presentation-efbbc1cd-c5f1-4264-b48e-c8a7b0334e36.
The Smarthinking resource is also available to assist in the basics of PowerPoint.

Reference

Microsoft. (2018). Basic tasks for creating a PowerPoint presentation. Retrieved from https://support.office.com/en-us/article/Basic-tasks-for-creating-a-PowerPoint-presentation-efbbc1cd-c5f1-4264-b48e-c8a7b0334e36

Social Business Networking and E-Commerce persuasive essay help

ECADEMY is the website chosen

Social Business Networking and E-Commerce

Select one of the social networking sites for business professionals listed in the Insights and Additions 3.2: Social Networking Sites for Business Professionals box in Chapter 3 of your text. Describe the characteristics of the specific community, how community participants benefit from interactions, and why participants are motivated to join. Discuss why you believe the selected social networking site has been successful in creating a community. Provide examples from two to three scholarly sources to support your points.

Your paper must be three to four pages in length (not including the title and reference page) and it must follow APA style guidelines as outlined in the Ashford Writing Center.

Carefully review the Grading Rubric (Links to an external site.)Links to an external site. for the criteria that will be used to evaluate your assignment.

Improved Product Recall Processes college application essay help: college application essay help

Top of Form

Week 8 – Assignment: Present Recommendations for Improved Product Recall Processes

Instructions
 

In February, 2014, General Motors announced an ignition switch recall that included around 2.6 million vehicles worldwide.  This recall ignited a great deal of controversy over the efficacy of operational practices that allowed the recall to become an issue, thus threatening the safety of GM customers and seriously eroding public trust in the organization.

As a business analyst skilled in the area of operational excellence, you are to produce a presentation that leverages your skills in all areas of Operations Management and provides credible recommendations for improvement in the GM operational structure that is responsible for selling and servicing the vehicles involved in this critically important recall.  Therefore, the scope of your review will be limited to what the corporation did and/or should have done once the fatal flaw was detected.  Your review should not encompass processes upstream from the service function, which eliminates the need to analyze engineering, design, manufacturing, and assembly operations.

Your audience for this presentation will be six top GM executives responsible for activities in service operations, which includes, for purposes of this assignment, those responsible for investigating, launching, and managing product recalls.  Your presentation should include:

· List of key relevant issues related to the ignition recall, including near-term and long-term negative impact.

· Discussion of findings related to current or past service / recall practices leading to the current situation.

· Recommendation for leveraging Information Technology personnel and resources to improve the recall process.

· Recommendations for improving operations and supply chain management independent of IT operations.

· Timeline for completing next steps toward an improved recall process.

Incorporate appropriate animations, transitions, and graphics as well as speaker notes for each slide. The speaker notes may be comprised of brief paragraphs or bulleted lists.

Support your presentation with at least five scholarly resources. In addition to these specified resources, other appropriate scholarly resources may be included.

Length: 15-20 slides (with a separate reference slide) Notes Length: 150-200 words for each slide

Be sure to include citations for quotations and paraphrases with references in APA format and style where appropriate. Save the file as PPT with the correct course code information.

The following rubric applies to the grading for this Signature Assignment.

Grading Rubric

Criteria

 
Content (15 points)
Points

1
Listed key relevant issues related to the ignition recall, including near-term and long-term negative impacts.
2

2
Discussed the findings related to current or past service / recall practices leading to the current situation.
3

3
Made recommendations for leveraging Information Technology personnel and resources to improve the recall process as well as for improving operations and supply chain management independent of IT operations.
5

4
Included a timeline for completing next steps toward an improved recall process.
5

 
Organization (10 points)
 

1
Included speaker notes for each slide, animations, transitions, and graphics. Included a minimum of five scholarly references, with appropriate APA formatting applied to citations and paraphrasing. Presentation is 15-20 slides long.
10

Total
25

Due Date
 

Jul 14, 2018 11:59 PM

Rubric Name: PLO_MBA_1_EvaluateOrgHealth

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Evaluate the health of an organization
This item is not demonstrated or represents lower academic achievement than foundational undergraduate knowledge.
Describe the health of an organization.

The student repeats the assessments of others. Little to no analysis is made. Facts are stated clearly without integration or elaboration. Measurements and data, if used, are accurate and represent an understanding of the requirements for the first steps in evaluating an organization.
Explain the health of an organization.

The student re-states others’ assessments in his or her own words and includes evidence to illustrate conclusions. Facts are stated clearly with some elaboration. Measurements and data, if used, are accurate and relevant.
Determine the health of an organization.

The student follows predefined steps for determining organizational health. Processes are obvious or commonly expected for the situation. Analysis is limited to predetermined conclusions based on well-defined guidelines.
Assess the health of an organization.

Analysis of data, procedures, and evidence used are not obvious. Evidence from multiple sources is incorporated to deliver a clear composite picture of the organization’s health. Conclusions result primarily from the student’s own reasoning and analysis.
Evaluate the health of an organization

An ideal end-state is envisioned and compared with the current state. Conclusions include not only an explanation of the current state, but a determination of the relative health of the organization as compared with the ideally envisioned state.
Improve the health of an organization.

Plans or strategies are formulated that will help realize the ideal end state. These plans are supported by evidence from the health evaluation and commonly accepted best practices.

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Associated Learning Objectives

Rubric Name: PLO_MBA_5_DeliverBusinessSolutions

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Deliver effective business solutions
This item is not demonstrated or represents lower academic achievement than foundational undergraduate knowledge.
List possible business solutions.

Solutions are rudimentary and obvious for the general business situation. The student re-states solutions and their benefits from others’ work.
Explain possible business solutions.

Solutions are rudimentary and obvious for the general business situation. The student explains the pros and cons of the solutions in a general sense without necessarily applying them to the specific situation or set of facts.
Determine possible business solutions.

Solutions and their potential benefits are well-explained. One of more possible solutions are proposed. Selected solutions are appropriate for the situation and represent solid understanding of the facts and nuances of the proposals.
Assess possible business solutions.

Solutions are very well suited to the situation. A thorough analysis is made on all possible solutions and each is weighed carefully against the others. The selected solution or possibilities are among the best that could be chosen for the situation from the usual possibilities.
Deliver effective business solutions.

Explanation of the selected solution is effective and persuasive. The situation’s current state is evaluated and an explanation of next steps for implementing the solution is presented.
Create effective business solutions.

Competency at the prior level is demonstrated along with a novel or unique solution that incorporates knowledge from many different areas. The student goes beyond the usual possibilities for the situation and proposes something truly remarkable.

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Assessment Method:  Overall Rubric Score

 
Required Performance:  Evaluate

Rubric Name: ILO_3_M_QuantitativeReasoning

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Maters – Analyze interpretation, representation, calculation, application, and analysis of data and information in authentic contexts.
This item represents lower academic achievement than foundational undergraduate knowledge.
Outlines mathematical information/forms (e.g., equations, graphs, diagrams, tables, words). Simply repeats information presented in mathematical forms from resources, and struggles with conclusions about what the information means. Student is able to mimic calculations provided in course examples, but struggles with generalizing those skills to other problems. As a result, conclusions are limited and rather basic.
Explainsmathematical information/forms (e.g., equations, graphs, diagrams, tables, words). Student is able to explain information presented in mathematical forms, but is unable to apply the information to draw meaningful conclusions about what the information means. Calculations attempted represent only a portion of the calculations required to comprehensively solve the problem. As a result, conclusions are more summative in nature.
Applies mathematical information/forms (e.g., equations, graphs, diagrams, tables, words). Provides accurate explanations of information presented in mathematical forms, but occasionally makes minor errors related to computations or units. Calculations attempted are mostly successful and represent most of the calculations required to comprehensively solve the problem. Student applies information to draw plausible conclusions from this work.
Examinesmathematical information/forms (e.g., equations, graphs, diagrams, tables, words). Examines explanations of information presented in mathematical forms. Calculations attempted are essentially successful and sufficiently comprehensive to solve the problem. Student draws reasonable, appropriate, and analytical conclusions.
Critiquesmathematical information/forms (e.g., equations, graphs, diagrams, tables, words). Critiques information presented in mathematical forms. All calculations attempted are successful and used to support solution to problem. Conclusions are appropriate and justified based on appropriate mathematical information.
Producesmathematical information/forms (e.g., equations, graphs, diagrams, tables, words). Provides accurate explanations of information presented in mathematical forms. Makes appropriate inferences based on that information. All calculations attempted are successful and used to make appropriate interpretations. Conclusions are thoughtful, insightful, and carefully qualified.

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Associated Learning Objectives

Rubric Name: ILO_4_M_CriticalThinking

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Masters – Evaluate own and others’ assumptions and arguments.
This item represents lower academic achievement than foundational undergraduate knowledge.
Outlines issue/problem to be considered in authentic context. Issue/problem to be considered is simply stated without clarification or description of context. Information is taken from source(s) without any interpretation/evaluation. Viewpoints of experts and own/others’ assumptions are taken as fact, without question. Conclusion is inconsistently tied to some of the information discussed; related outcomes (consequences and implications) are oversimplified.
Explains issue/problem to be considered in authentic context. Issue/problem to be considered is stated but context description leaves some terms undefined, ambiguities unexplored, boundaries undetermined, and/or backgrounds unknown. Information is taken from source(s) with some interpretation/evaluation, but not enough to develop a coherent analysis or synthesis. Viewpoints of experts and own/others’ assumptions are taken as mostly fact, with little questioning. Conclusion is logically tied to information (because information is chosen to fit the desired conclusion); some related outcomes (consequences and implications) are identified clearly.
Ascertainsissue/problem to be considered in authentic context. Issue/problem to be considered is stated, described, and clarified so that context understanding is not seriously impeded by omissions. Information is taken from source(s) with enough interpretation/evaluation to allow for application. Viewpoints of experts and own/others’ assumptions are subject to questioning. Conclusion is logically tied to information and most related outcomes (consequences and implications) are identified clearly.
Analyzesissue/problem to be considered in authentic context. Issue/problem to be considered is stated clearly and described comprehensively, delivering relevant information necessary for full understanding of context. Information is taken from source(s) with enough interpretation/evaluation to develop a comprehensive analysis. Viewpoints of experts and own/others’ assumptions are questioned relatively thoroughly. Conclusions and related outcomes (consequences and implications) are logical and reflect student’s informed evaluation and ability to place evidence and perspectives discussed in priority order.
Evaluate issue/problem to be considered in authentic context. Issue/problem to be considered is stated clearly and context is described comprehensively, delivering relevant information necessary for full understanding of all sides/perspectives of the issue/problem. Information is taken from source(s) with enough interpretation/evaluation to develop a comprehensive analysis comparing and contrasting viewpoints of experts and own/others’ assumptions. Conclusions are logically tied to a range of information, including opposing viewpoints; related outcomes (consequences and implications) are identified clearly.
Specifyissue/problem to be considered in authentic context. Issue/problem to be considered is stated clearly and context is described comprehensively, delivering relevant information necessary for deducing possible solutions to issue/problem. Information is taken from source(s) with thorough interpretation/ evaluation to develop a comprehensive synthesis of experts’ viewpoints and own/others’ assumptions, in order to infer next steps. Conclusions are logically tied to a range of information, including a synthesis of viewpoints and assumptions, in order to produce clear outcomes (consequences and implications).

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Rubric Name: ILO_5_M_InformationLiteracy

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Masters – Determine resources needed in order to support a decision or address a problem.
This item represents lower academic achievement than foundational undergraduate knowledge.
Identifiesinformation/resources needed. Minimal and obvious information sources are selected that contain the exact terms in the research question. Chooses a few information sources. Some sources have questionable credibility. Student uses mostly quotes; uses information in ways that are repetitive of the original context; and sometimes demonstrates a lack of understanding of the ethical and legal restrictions on the use of published, confidential, and/or proprietary information.
Summarizesinformation/resources needed. Types of information sources selected mostly relate to concepts or answer research question, but unrelated information is also provided or more sources are needed. Chooses the minimum information sources required. Selects sources using limited criteria (such as relevance to the research question); credibility of some sources is questionable. Student sometimes incorrectly uses citations and references; mostly uses summary, or quoting; uses information in ways that are somewhat repetitive of the original context; and mostly demonstrates an understanding of the ethical and legal restrictions on the use of published, confidential, and/or proprietary information.
Usesinformation/resources needed. Types of information sources selected shows student can ascertain resources related to concepts and/or needed to answer a research question, but work would benefit from more sources. Chooses a variety of information sources. Selects sources using basic criteria (such as credibility, relevance to the research question, and currency). Student correctly uses citations and references with only minor mistakes; uses some paraphrasing followed by summary or quoting; uses information in ways that are true to original context; and demonstrates an understanding of the ethical and legal restrictions on the use of published, confidential, and/or proprietary information.
Examinesinformation/resources needed. Types of information sources selected shows student is able to apprise resources related to concepts and/or needed to answer a research question. Chooses a variety of information sources appropriate to the scope and discipline of the research question. Selects sources using multiple criteria (such as credibility, relevance to the research question, currency, and authority). Student correctly uses citations and references; uses summary and paraphrasing, with some quoting; uses information in ways that allow for analysis of original context; distinguishes between common knowledge and ideas requiring attribution; and demonstrates a full understanding of the ethical and legal restrictions on the use of published, confidential, and/or proprietary information.
Critiquesinformation/resources needed. Types of information sources purposefully selected to represent multiple views directly related to concepts and/or needed to answer a research question from various perspectives. Chooses a variety of information sources appropriate to the scope and discipline of the research question that represent multiple points of view. Evaluates sources using multiple criteria (such as credibility, relevance to the research question, currency, authority, and points of view).  Student correctly uses citations and references; uses paraphrasing, followed by summary, and minimal quoting; uses information in ways that allow for evaluation of original context; distinguishes between common knowledge and ideas requiring attribution; and demonstrates a full understanding of the ethical and legal restrictions on the use of published, confidential, and/or proprietary information.
Producesinformation/resources needed. Types of information sources selected from exhaustive search that directly relate to concepts or answer research question, as well as sources that prepare deduction of next steps. Chooses a variety of information sources appropriate to the scope and discipline of the research question as well as resources to support next steps. Selects sources after considering the importance (to the researched topic) of the multiple criteria used (such as credibility, relevance to the research question, currency, authority, audience, and bias or point of view). Student correctly uses citations and references in practically all instances; uses mostly paraphrasing or summary; uses information in ways that build upon the original context; distinguishes between common knowledge and ideas requiring attribution; and demonstrates a full understanding of the ethical and legal restrictions on the use of published, confidential, and/or proprietary information.

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Rubric Name: ILO_6_M_ResearchSkills

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Masters – Determine research skills necessary to complete the culminating experience for degree.
This item represents lower academic achievement than foundational undergraduate knowledge.
Outlinesresearch/practice problem and scholarly literature. Theories and paradigms related to research problem or area of practice are merely listed. Student is able to identify pertinent topics/discussions to be included in final graduate culminating experience, but clear alignment issues are present.
Summarizesresearch/practice problem and scholarly literature. Theories and paradigms related to research problem or area of practice are described. Student is able to articulate pertinent topics/discussions to be included in final graduate culminating experience, but clear alignment is missing at times.
Providesresearch/practice problem and scholarly literature. Theories and paradigms related to research problem or area of practice are provided. Student is able to ascertain pertinent topics/discussions to be included in final graduate culminating experience, but alignment could be clearer.
Examinesresearch/practice problem and scholarly literature. Theories and paradigms related to research problem or area of practice are explored. Student is able to document pertinent topics to be included in final graduate culminating experience, and all elements of project/product are aligned.
Critiquesresearch/practice problem and scholarly literature. Theories and paradigms related to research problem or area of practice are evaluated. Student is able to support pertinent topics to be included in final graduate culminating experience, and alignment is clear.
Synthesizesresearch/practice problem and scholarly literature in order to construct novel insights or generate new knowledge. Theories and paradigms related to research problem or area of practice are integrated. Student is able to incorporate pertinent topics to be included in final graduate culminating experience, and alignment is clearly depicted throughout.

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Theater set design and construction essay help writing

“My professor told us: If you can answer the questions under Key Questions for a Teater Report (http://highered.mheducation.com/olc/dl/420463/index.html) (especially those in relation to the set design and construction, lighting, costumes, hair and makeup, props, acting, directing, sound effects and sound projection) with clear examples and references from the course, you will be able to write a strong critique that should receive a high grade. ( The event took place at Riverside city college in Landis Performing Arts Center, The event was on Friday July 20 at 7 pm, it longed two hours) { It is based on the original screenplay by Dean Pitchford.} {Footloose is presented through special arrangment with R and H Theatricals:www.rnh.com} I am looking for your informed opinion based on information learned in this class. Make sure your opinions are supported by strong details and examples from the production

Assignment on River journey personal essay help

River journey shows stark differences between China, North Korea TIM JOHNSON – MCCLATCHY NEWSPAPERS June 13, 2007

DANDONG, China—Chinese tourists who come to this border city with North Korea often hop on boats for excursions to a virtual human zoo: They cross the Yalu River and motor along the other side to gawk at poor North Koreans. The Chinese peer through binoculars, occasionally waving or drifting close. They return to shore grateful that China has chosen a capitalist path, long ago veering from the socialist totalitarianism that’s still in force across the river. “I feel sorry for them,” Gao Feng, a visitor, said after a boat trip, launching into praise for his own country. “I feel proud to be a Chinese. Our country is developed, and people have become rich.” For many Chinese visitors, the river journey is a feel-good occasion that reaffirms the vast changes that have transformed their nation in the past quarter-century. They marvel at the stark contrasts along the Yalu River’s two sides. On the Chinese side, high-rise hotels and modern condos tower overhead. Huge outdoor plasma- screen monitors brighten the fronts of karaoke bars, massage parlors and bathhouses. Late-model cars ply the manicured streets along the riverfront, where boats with dragon motifs fill with tourists for cruises. On a recent day, a motorized ski sent a plume of water skyward as its rider whizzed up and down the river. At nighttime, the Chinese side is ablaze in neon lighting. Barely a light flickers on the North Korean side, a sign of dire energy shortages in the most closed society in the world. Some 350,000 residents dwell in the border city of Sinuiju, but smokestacks over dilapidated factories issue nary a wisp. Along the river, rusted fishing boats list, and residents squat, staring aimlessly. A Ferris wheel sits idle. “When you compare the two sides, you see how prosperous China is,” said Wu Zhanjun, 36, who’s from Liaoning province, in China’s surrounding industrial heartland. “I saw their children catching fish,” added Han Quanyi, a truck owner who was taking a vacation here. “They don’t look like Chinese children. They are very thin. Their clothes are old and dirty. And the women have mud all over their bodies.” Dandong has long drawn tourists as the site where Chinese troops swept across the Yalu during the Korean War, 1950-1953, to aid ally North Korea. A partial span known as the Broken Bridge, because of wartime bombing, still juts into the river, and tourists can walk along its length reading posters describing wartime history. For decades, North Korea has been the easiest foreign destination for the Chinese. Until last year, they didn’t even need passports. Even today, it’s easier for them to enter North Korea than Hong Kong, the prosperous British colony that reverted to China in 1997. But many Chinese only look at North Korea from the riverboats, although dozens of travel agencies arrange three- and four-day tours in the country, and 100 to 200 tourists cross the border each day.

Those who opt for travel often bristle at the strict rules they must follow. Among the items that Chinese tourists are prohibited from taking to North Korea are mobile phones, binoculars, laptop computers, professional cameras and zoom lenses. “They keep asking us, `Why shouldn’t I be allowed to bring my cell phone? Even if I don’t use it, I can’t bring it?’” one travel agency owner said, requesting anonymity for fear that identifying her might hurt her business. North Korea recently demanded that Chinese tourists stop posting impressions of their visits to the country online, warning that it may cut off the travel agencies’ business. “People have written that the North Koreans are good at intelligence but they aren’t good at anything else,” the agency owner said. “The North Koreans found out about it, and they’ve warned us.” With 800,000 residents, Dandong is the largest of China’s frontier cities, and its economy has risen because of steady growth in trade with North Korea. Last year, China exported $1.08 billion worth of goods to North Korea—a 35 percent increase over the previous year—and received $499 million in imports, mainly minerals. North Korea’s launch of seven ballistic missiles into the Sea of Japan last month hasn’t affected that trade. Residents here offered bemused shrugs when asked about it, voicing equal concern about recent floods that wracked the nation. But traders and businessmen in Dandong, awaiting eventual change in North Korea, do complain about the difficulties of doing business over the border. “They have no electricity. We have to bring our own generators. There are no roads. We have to build roads. The workers have no food. So we have to bring food, too. And there’s no equipment,” said a local consultant who works with Chinese mining companies eager to exploit North Korea’s copper and zinc deposits and who spoke only on the condition of anonymity. Merchants visiting North Korea also must grow accustomed to demands that they lay flowers before portraits of Kim Il Sung, the deceased founder of North Korea. “The North Koreans lead us to the pictures and we have to offer flowers,” said the consultant, who said he’d been across the border “countless times.” North Korean agents entrusted to cross the border into China to shop for the Stalinist state sometimes can be seen in Dandong’s streets, usually in groups of three, always wearing lapel pins with images of current strongman Kim Jong Il, the deceased Kim’s son. Local merchants said the agents sometimes passed bogus U.S. dollars. Washington has accused Pyongyang of printing counterfeit American $100 bills of such high quality that they’re called “supernotes.” Last year, it imposed sanctions on a Macau bank that it accused of helping to move the North Korean notes. “I just say that my shop doesn’t accept dollars,” said An Jize, an ethnic Korean who owns a shop that sells brightly colored traditional Korean costumes. Along the waterfront, Han, the truck driver, scanned the North Korean side and reflected how North Korea and China once had similar systems and levels of development. “They are still going along the old road,” he said, signaling across the river. “Before the reforms, China was like that. But with the reforms, it’s changed a lot. The gap is so huge.” ———

Capitalists and Socialism Essay admission essay help: admission essay help

Capitalists Are No Angels, But Socialism Is Hell on Earth 
 Andrea Speijer-Beek FEE July 21,2017 No system is as revered and reviled as capitalism. Proponents celebrate the wealth capitalism brings to nations, reducing the number of people living in extreme poverty around the world by billions: “Between 1990 and 2010, their numbers fell from 43% to 21% – a reduction of almost 1 billion people.” Most of the credit for this reduction goes to free markets and capitalism, “for they enable economies to grow – and it was growth, principally, that has eased destitution.” When you look at these results, it is easy to see why proponents of capitalism believe it to be the most moral system. How can something that increases freedom, lifespan, and happiness by reducing global destitution be considered bad? This noble intuition tends to change when anti- capitalist systems are in place and start racking up their own collateral damage. What is wrong with the people who wish to replace capitalism and free markets with central planning and micromanaging governments? It becomes increasingly hard to understand the reasoning and motivations of ‘the other side’ the more you look at the ‘bigger picture’ of graphs and numbers. The downside of these bigger pictures is that details tend to be left out. The price of scale is detail, and vise-versa. The adage of the bigger picture is, ‘If you give a man a fish, he will eat for a day. Teach him to fish and he can eat many days.’ Anti-capitalists’ hearts bleed for the people, too young, too old, too simple-minded or simply too beat-down by destitution to learn how to fish. They want to protect the people who suffer now, unwilling to sacrifice those relatively few people who are unable to adapt in the present for the wealth of faceless billions in the future. The dirty details, not the bigger picture, determine their moral understanding of systems and situations. Or so I thought until I remembered that this noble intuition tends to change when anti-capitalist systems are in place and start racking up their own collateral damage. The same intellectuals who lament the injustice of capitalism defend Stalin and Mao. The intuition that the many shouldn’t have to suffer to benefit the few, can

apparently be flipped into a Spockian ‘sometimes the needs of the many outweigh the needs of the few’, depending on the system doing the outweighing. Individual rights, nonviolence, concerns for suffering in the present, all go out the window when the argument for the injustices changes from ‘he’s doing it for selfish reasons’ to ‘he’s doing it for the greater good.’ What on earth is going on here? Capitalist Psycho? The wildly popular science website IFLScience.com published an article about new results in the research of psychopathy. In discussing the scientific article, the IFLScience- writer casually made the following remark: “When you think about it, capitalism is an ideal playground for ambitious psychopaths – climbing the social or career ladders without a thought to those pushed out of the way.” Research into the professions (excluding inmates) where you’re most likely to find psychopaths puts CEOs at number 1 – outranking lawyers, police officers, public servants and the clergy. This seems to present a problem to the belief that capitalism and free markets are the most moral economic systems. For how is it possible that the economic system that brought us health, freedom, and happiness is also the perfect playground for psychopaths? Yaron Brook, executive director of the Ayn Rand Institute and fierce defender of the morality of capitalism, phrased the anti-capitalist attitude as follows: Businessmen sit in stoic silence while their pursuit of profits is denounced as selfish greed. Society tells businessmen to sacrifice, to serve others, to “give back” – counting on their acceptance of self-interest as a moral crime, with chronic guilt its penance.” According to Brook, the fact that businessmen add to the economic growth of society implies that their selfish reasons for doing so are morally bonafide. The bigger picture is economic improvement. The actions of those acting within the system that brings about this improvement must, therefore, be moral.

https://www.economist.com/news/leaders/21578665-nearly-1-billion-people-have-been-taken-out-extreme-poverty-20-years-world-should-aim
https://fee.org/articles/check-your-ideological-blind-spot/
https://fee.org/articles/who-was-the-biggest-mass-murderer-in-history/?utm_source=facebook&utm_medium=social&utm_campaign=freethepeople
http://iflscience.com/
http://www.iflscience.com/brain/brains-psychopaths-dysfunctional-wiring/all/
http://www.iflscience.com/brain/having-dark-personality-will-help-your-career-unless-youre-just-psychopath/
http://www.independent.co.uk/news/business/news/these-10-jobs-attract-the-most-psychopaths-a6692656.html
https://artsandsciences.colorado.edu/ctp/2015/03/ayn-rand-institute-leader-tackles-morality-of-capitalism/

A system can bring great wealth but that does not mean that people engage in it because they want to make the world a better place. So why did anti-capitalists only acknowledge Bill Gates as a moral person when he started giving millions to charity, and not when he grew the economy and provided thousands of people with jobs and value through his company? The difference in moral status between Bill Gates the businessman and Bill Gates the philanthropist is that people presume the primary intention of businessmen is making money, while the primary intention of the philanthropist is improving people’s lives, allegedly. Only when the businessman turns philanthropist can the public be sure of his good intentions, and consequently good character, regardless of the abundance of good resulting from his business or the lack thereof from his philanthropic works. I agree with Brook that this is a ridiculous situation, but I disagree with the conclusion that the moral superiority of capitalism translates to the moral superiority of capitalists simply by virtue of partaking in it. Immoral Actors, Moral Actions If we are to believe the data on psychopaths’ preferred professions, the claim that capitalism is a breeding ground for psychopaths might be closer to the truth than Brooks’ claim that there is no moral problem with ‘selfish greed.’ A system can bring great wealth to a great many people, and capitalism has irrefutably done this, but that does not mean that the people who engage in the system are engaging in it because they want to make the world a better place, and their short-term choices often reflect this. The intended goal was profits, the foreseen consequences were unsafe sweatshops, economic growth, and higher standards of living. For example, a company hiring kids in Bangladesh to produce cheap clothes for the western market does this to cut production costs and increase its profits. The reason they chose Bangladesh is that there are fewer worker’s rights, and wages are a fraction of what they are in Western countries. It is certainly possible that the company hopes to improve the economy of Bangladesh by taking their business there, but it is a stretch to claim that the reason they moved production to Bangladesh is helping the local economy. The intended goal was bigger profits, the foreseen consequences were unsafe sweatshops, economic growth, and higher standards of living within a generation.

Depending on which of these consequences is more important to your moral sensibilities, capitalism is either predominantly moral or immoral, and capitalists are either mostly bad or mostly good. The connection people make between the intention behind an action and the moral status of both actor and action is almost universal in discussions about morality. Leave Personal Feelings Out of It If we like someone, we are more inclined to agree with – or ignore – what he does, even if those things have little or nothing to do with each other. For instance, when always-smiling Obama deported 2.5 million immigrants, we heard the loud chirping of crickets from liberal audiences. Even though he deported more people than any previous president and more than all the presidents of the 20th century combined. Conversely, if we dislike someone we are more likely to disagree with his actions, even if his actions have little to do with the reason why we dislike him. Take for instance, Trump. He announces his plans for deporting all 11 million illegal immigrants using his characteristic big mouth and boastful superlatives. Suddenly, everyone who kept silent when Obama was the deporter-in-chief finds their moral compass, all the while ignoring that Trump will be using the well-oiled deportation machine he inherited from his friendly predecessor to make good on his promises. Self-interest is the driving force behind prosperity but that does not dissuade people from their negative intuitions about the driving principles of capitalism. To see reality more clearly, it is important that we separate our personal feelings about a person from the actions that person performs. We don’t want to be the people who renounce capitalist violence but excuse communist violence. Neither do we want to pretend that capitalism is all fun, games, and iPhones for everyone. We need to see reality for what it is and base our conclusions on our observations. Our heroes can commit evil actions and our enemies can create things of beauty and value. To quote a moral philosopher, “A pure heart cannot make a wrong act right; neither can an impure heart make a right act wrong.” It is a mistake to ascribe the moral status and motivations of (some) actors within a system to the system itself. I can wholeheartedly say that capitalism is the superior economic and social

http://www.aljazeera.com/programmes/upfront/2017/01/barack-obama-deporter-chief-170113105930345.html
https://en.wikipedia.org/wiki/James_Rachels

system so far, based on results. I can also wholeheartedly say that capitalists can be, and often are, complete psychopaths. Conversely, I can love and admire my socialist and communist friends because I believe them to have good hearts and genuine intentions. This doesn’t change the fact that I hold communism and socialism responsible, in part and in whole, for some of the most horrific events in human history and never want to see it implemented in another country, ever again. A worrying consequence of the intuitive association between the intention of the actor and the action itself it that genuinely free markets, where people act in each other’s and their community’s best interest, are being viewed as universally anti-capitalist and anti-market. Capitalism has established itself as a system that is meant for making yourself happy first, and other people second. The fact that self-interest is the driving force behind the world’s explosive prosperity does not dissuade people from their strong negative moral intuitions about the driving principles of capitalism. A New Category Young socially engaged people are forming a new category of human action, free-market anti- capitalism. Markets, guilty by association and erroneous use by politicians and journalists, are in danger of being thrown out along with all other ‘capitalist’ concepts. We can see this in the reluctance of the new generation of laissez-faire entrepreneurs to describe themselves as capitalists, individualists, or free-marketeers. Luckily, there are attempts to salvage free markets from the moral scrapheap. Going outside the known systems of the welfare state and crony capitalism, young socially engaged people are forming a new category of human action that can best be described as free-market anti-capitalism. A free-market anti-capitalist acknowledges the free market’s power to create win-win situations, but also knows that capitalism as a system can make for lopsided win-win scenarios that sometimes more closely resemble win-lose scenarios. According to the writer and inventor of the term, Matt Ridley, the beliefs of the free- market anti-capitalist can be described as such: Commerce, enterprise and markets are – to me – the very opposite of corporatism and even of “capitalism”, if by that word you mean capital- intensive organisations with monopolistic ambitions. Markets and innovation are the

creative-destructive forces that undermine, challenge and reshape corporations and public bureaucracies on behalf of consumers. So big business is just as much the enemy as big government, and big business in hock to big government is sometimes the worst of all.” This philosophy is reflected all over Europe where young people are setting up cooperations and creating ‘commons’. My generation knows that voluntary human action is the basis of all prosperity, economic and social. This excludes the philosophy of central planning, but it also rejects the extremes of capitalism by creating systems that guarantee maximal reciprocity for all. Good people doing good things. Maybe, in the future, it really is as simple as that.

https://www.washingtonpost.com/news/volokh-conspiracy/wp/2016/08/03/giving-historys-greatest-mass-murderer-his-due/
https://fee.org/articles/venezuela-runs-out-of-toilet-paper-achieves-true-socialism
https://capx.co/the-case-for-free-market-anticapitalism/
http://www.independent.co.uk/news/world/asia/bangladesh-factory-collapse-41-charged-over-deadly-rana-plaza-tragedy-a6781876.html
https://fee.org/articles/free-markets-are-revolutionary-liberating-and-democratic/
https://www.commoneasy.nl/

Relationship between business and society scholarship essay help

According to the textbook, the current world economy is increasingly becoming integrated and interdependent; as a result, the relationship between business and society is becoming more complex. Use the Internet to research a Fortune 500 company of your choice. you may submit a four to 6 page

Title: Your First Name, Your Last Name  Social Performance of Organizations

Tags: BUS475, Social Performance

Description: First Name, Last Name BUS475 Assignment 1 (Date Uploaded ex. 1-14-2018)

P write a four to six page paper in which you:

Specify the nature, structure, and types of products or services of your company, and identify two (2) key factors in the organization’s external environment that can affect its success. Provide explanation to support the rationale.
Suggest five (5) ways in which the primary stakeholders can influence the organization’s financial performance. Provide support for the response.
Specify one (1) controversial corporate social responsibility concern associated with your company.
Submit a reference page with at least four (4) quality references that you have used for this presentation / paper.

Note: Wikipedia and other websites do not qualify as academic resources.

If you choose the written paper, your assignment must follow these formatting requirements:

Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

Analyze the relationship between business and society, and the ways in which they are part of an interactive system.
Recommend ways stakeholders can influence the destiny of both business and society.
Analyze the various primary and secondary stakeholder groups, their roles, and relationships.
Compare and contrast the concepts of corporate social responsibility and citizenship.
Analyze ways ethical challenges affect the multiple functions of business.
Use technology and information resources to research issues in business and society.
Write clearly and concisely about business and society using proper writing mechanics.

Specific Library Resources to help you get started:

The Strayer University Library is accessible at research.strayer.edu.
A general introduction to the Strayer Library is available in your course shell on the left-hand menu under Research-Library.
Introductory Search – Use the home page’s search box to keyword search many, but not all, databases.
Targeted Search – Scroll to the bottom of the page for an A to Z listing of all databases. Float over each link to see a description of the database and click to load that particular database’s custom search page. Custom search pages include both basic and advanced search options.
These databases are only partially searchable through the general search bar. You will have to search them individually to find resources for your paper.

Nexis Uni – This contains legal information and would be useful to search for court cases in which your company has been involved.
Video Explaining Nexis Uni

Mergent Online – This has company info on both public and private companies. Fortune 500 can be public or private. Mergent is known for financial and accounting info, but also has qualitative information too. They offer news feeds, country reports on business environments, industry-wide reporting, company reports, and Annual Reports—the middle 3 are unique to this database. Starting with looking at a company’s annual report would be very useful for this assignment. Industry reports would also be useful to see if your company is involved in any industry-wide initiatives or is notable in its industry in any way (could be good or bad.)

Library Databases – Mergent Online
Company Research – Annual Reports and 10-Ks
Company Research – Industry Reports

American City Business Journals – This is probably the most fun way to read business news by metro area. They have over 35 journals based around US cities. Look up the metro area your company is associated with, go to ACBJ, then choose the applicable city, and search for news articles.
Research Starters are like the academic version of Wikipedia. Search on a topic to get an overview with links to other information within that topic. It will help you get ideas for keywords for your own searches and what you need to know in order to successfully write your paper.

Research Starters – Business
Library Databases – Research Starters

Note – This is an exception example. Research Starter articles do appear in a feature box above the results list when using the general search box on research.strayer.edu.
Don’t stress over writing papers! Watch this video on writing papers and essays. Topics include how to start your research, how to organize your research, how to draft your paper, and how to revise it.

https://www.youtube.com/watch?v=KlgR1q3UQZE&t=9s

The Simplified Financial Plan research essay help: research essay help

Assignment 2: Business Plan Breakdown 3—The Simplified Financial Plan

This is the third milestone of your business plan—the financial plan.

Tasks:

Research the costs, financial statements, cash flow, and  risks of your chosen project. Based on your research and the knowledge  you have gained from the course, create a simplified 4- to 5-page  financial plan including tables and charts. For the financial plan:

Estimate the capital requirements, use of capital, start-up  requirements (if applicable), and other probable costs involved in the  implementation and subsequent operation of your project.
Identify the sources of financing.
Define a payback period.
Prepare cash flow projections.
Prepare a projected balance sheet  representing the end of the first calendar year of operations and  defining assets and liabilities, both current and long term.
Prepare income statement projections for  the end of the first calendar year of operations, including charts  showing gross revenues, gross profit, and net income.
Define the meaning of a break-even analysis and prepare an analysis appropriate for your project.
Prepare a ratio analysis, including the  definition and value of the following ratios (whichever  applicable)—current, quick, debt, debt-to-equity, average inventory  turnover, receivables turnover, payables turnover, net sales to working  capital, net profit to sales, and net profit to equity.
Prepare a list of possible risks  associated with the implementation and future operation of your project  and describe the significance of each of them.

Submission Details:

By the due date assigned, save your paper as M3_A2_lastname_firstinitial.doc and submit it to the Submissions Area.

This assignment is worth 100 points and will be graded according to the following rubric.

My business is a Sewing and Laudromat

Assignment 2 Grading Criteria Maximum Points    Estimate  capital requirements, use of capital, start-up requirements (if  applicable), and other probable costs involved in the implementation and  subsequent operation of your project.  12    Identify sources of financing and define a payback period.  8    Prepare cash flow projections.  12    Prepare  a projected balance sheet representing the end of the first calendar  year of operations, and defining assets and liabilities, both current  and long term  12    Prepare  income statement projections for the end of the first calendar year of  operations, including charts showing gross revenues, gross profit, and  net income.  12    Define the meaning of a breakeven analysis and prepare one to reflect your project.  12    Prepare  a ratio analysis, including the definition and the value of the  following ratios (whenever applicable): current, quick, debt, debt to  equity, average inventory turnover, receivables turnover, payables  turnover, net sales to working capital, net profit to sales, and net  profit to equity.  12    Prepare  a list of possible risks associated with the implementation and future  operation of your project, and provide significance for each of them.  12    Write  in a clear, concise, and organized manner; demonstrate ethical  scholarship in accurate representation and attribution of sources;  display accurate spelling, grammar, and punctuation.  8    Total: 100

Budget:  $10

The marginal operating cost assignment college application essay help online: college application essay help online

WEEK 5 PROBLEM SET Due week 5 and worth 200 points. You will submit your answers in a Blackboard assessment filling out charts and answering the essays/short answer questions. Note: There is not an option to upload your assignment, you must use the Blackboard assessment; however, you will be able to copy and paste your answers from a Word document.

Problem 1: Using the Marginal Approach Suppose your company runs a shuttle business of a hotel to and from the local airport. The costs for different customer loads are: 1 customer: $30 2 customers: $32 3 customers: $35 4 customers: $38 5 customers: $42 6 customers: $48 7 customers: $57 8 customers: $68.

1. What are your marginal costs for each customer load level? (Chart) 2. If you are compensated $10 per ride, what customer load would you choose? (Essay)

Problem 2: Elasticity and Pricing Suppose the number of firms you compete with has recently increased. You estimated that as a result of the increased competition, the demand elasticity has increased from –2 to –3, i.e., you face more elastic demand. You are currently charging $10 for your product. What is the price that you should charge, if demand elasticity is -3? (Essay)

Problem 3: Price Discrimination An amusement park, whose customer set is made up of two markets, adults and children, has developed demand schedules as follows:

Price ($)

Quantity

Adults Children

5 15 20

6 14 18

7 13 16

8 12 14

9 11 12

10 10 10

11 9 8

12 8 6

13 7 4

14 6 2

The marginal operating cost of each unit of quantity is $5. Because marginal cost is a constant, so is average variable cost. Ignore fixed costs. The owners of the amusement part want to maximize profits. Calculate the price, quantity, and profit if:

1. The amusement park charges a different price for adults. (Chart) 2. The amusement park charges a different price for children. (Chart) 3. The amusement park charges the same price in the two markets combined. (Chart) 4. Explain the difference in the profit realized under the two situations. (Essay)

Problem 4: Bundling Time Warner could offer the History Channel (H) and Showtime (S) individually or as a bundle of both. Suppose the reservation prices of customers 1 and 2 (the highest prices they are willing to pay) are presented in the boxes below. The cost to Time Warner is $1 per customer for licensing fees. Preferences

Showtime History Chanel

Customer 1 9 2

Customer 2 3 8

1. Should Time Warner bundle or sell separately? (Essay) 2. Should Time Warner bundle if everyone likes Showtime more than the History Channel, i.e.,

preferences are positively correlated. (Essay) 3. Suppose Time Warner could sell Showtime for $9, and History channel for $8, while making

Showtime-History bundle available for $13. Should it use mixed bundling. i.e., sells products both separately and as a bundle? (Essay)

Policies of the federal government cheap essay help

The policies of the federal government influence the outcomes of the various activities in that economy.  When government policies change or unplanned events occur, the resulting economic events or activity will usually change.  Listed below are several policies or events that affect the performance of the economy:

The federal government employs a budget plan over several fiscal years that results in significant increases in the national debt, with no relief or plans to deal with the problem.
The federal government enacts new tariffs and quotas on all imports.
The general public loses confidence in their leadership, in terms of their ability to manage the economy, especially in the area of job creation.
The federal government, in an effort to stimulate the economy, decreases taxes on all individuals except those earning over $250,000 per year.
The level of investment decreases because of a lack of confidence in the economy.
Interest rates are kept artificially low by the Federal Reserve for several years.

For each of the items above, describe what would be the likely outcomes in the economy.  Use the appropriate tools of analysis, such as aggregate demand and aggregate supply where appropriate, to justify and explain your answer.

Submission Details:

Prepare a 5-6 page Microsoft Word document that addresses the above-noted concerns and meets APA standards.
Include a summary section in your report that contains 5-7 bullet points identifying your major findings or conclusions of your paper. 
Submit the summary section as your initial post in the Discussion Area by the due date assigned. Include the full report as an attachment to your posting.
Continue your discussions until the end of the week by commenting on at least two other submissions by your peers, identifying the strengths and weaknesses of each post.
All submissions must be original and all resources must be properly acknowledged.

Contract managed food providers write my essay help: write my essay help

 All of us have consumed food and beverages from contract-managed food providers (e.g., school cafeteria, theaters, sporting events, airline, etc.). Describe a time when you consumed food from a contract-managed food provider and determine what steps could have been taken to make the experience more enjoyable. Provide specific examples to support your response. A food service manager has to perform various duties as part of his or her job responsibilities. Rank four to six of the major job responsibilities in order of importance. Provide a rationale for your ranking

Capitalism in corporate decision making cheap essay help

A  2 page paper in which you become an advocate either the consumer or the industry of casinos, prepare an argument explaining the major reasons why you support the consumer or the industry

Explain the role capitalism plays in corporate decision making.

Discuss if you believe it is possible for a company conjointly or if one always has to prevail. Justify your response.

Use at least two(2) references, Wikipedia or similar sites do not quality as academic.

typed, double spaced using Times New Roman font(12), with one-inch  margins

A cover page

include a reference page,Citation and references must follow APA format

Creating an eCommerce Business college admission essay help houston tx

Assignment 2: Creating an eCommerce Business Due Week 4 and worth 135 points  “Too often, entrepreneurs brimming with optimism and enthusiasm launch businesses destined for failure because their founders never stop to define a workable strategy that sets them apart from their competition” (Scarborough & Cornwall, 2015, p. 106).  With this assignment, you have the opportunity to take your creative ideas to the next step and begin to develop a strategy that will form the foundation for a successful business.  Write a three to four (3–4) page paper in which you:  Develop an idea for a prospective small business, and select a name for the company. Identify its key competitors and summarize the strengths and weaknesses of one of the competitors. Prepare a mission statement that encompasses the purpose of the business and considers its target market. Identity the ownership form for this business, taking into consideration tax implications, liability exposure, managerial ability, and cost of formation. Include at least two (2) references outside the textbook. Your assignment must follow these formatting requirements:  Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length. The specific course learning outcomes associated with this assignment are:  Analyze the nature of entrepreneurship, business ethics, and social responsibility in managing a successful small business. Describe and analyze the role of creativity and innovation as a competitive advantage of a small business. Describe the strategic planning process and develop a strategic plan for a small business. Describe and analyze the necessary activities and key decisions to start a small business. Use technology and information resources to research issues in small business management. Write clearly and concisely about small business management using proper writing mechanics. Click here to view the grading rubric.

Assignment on Conflicting Viewpoints Essay essay help us: essay help us

Assignment 1. Conflicting Viewpoints Essay – Part II Synthesizing and Writing When looking for information about a particular issue, how often do you try to resist biases toward your own point of view? This assignment asks you to engage in this aspect of critical thinking. The assignment is divided into two (2) parts. For Part I of the assignment (due Week 2), you read a book excerpt about critical thinking processes, reviewed the Procon.org Website in order to gather information, and engaged in prewriting to examine your thoughts. * Remember that in the Week 2 Discussion, you examined the biases discussed in Chapter 2 of the webtext. In Part II of the assignment (due Week 4), you will write a paper to synthesize your ideas. Part II – Writing Write at three to four (3-4) page paper in which you: 1. State your position on the topic you selected for Assignment 1.1. 2. Identify (3) three premises (reasons) from the Procon.org website that support your position and explain why you selected these specific reasons. 3. Explain your answers to the “believing” questions about the three (3) premises opposing your position from the Procon.org website. 4. Examine at least two (2) types of biases that you likely experienced as you evaluated the premises for and against your position. 5. Discuss the effects of your own enculturation or group identification that may have influenced your biases. 6. Discuss whether or not your thinking about the topic has changed after playing the “Believing Game,” even if your position on the issue has stayed the same. The paper should follow guidelines for clear and organized writing: Include an introductory paragraph and concluding paragraph. Address main ideas in body paragraphs with a topic sentence and supporting sentences. Adhere to standard rules of English grammar, punctuation, mechanics, and spelling. Your assignment must follow these formatting requirements: This course requires use of Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details. The specific course learning outcomes associated with this assignment are: Identify the informal fallacies, assumptions, and biases involved in manipulative appeals and abuses of language. Create written work utilizing the concepts of critical thinking. Use technology and information resources to research issues in critical thinking skills and informal logic.

Heights relative to comparison groups write my essay help

Economics history

Section 1: Multiple Choice

1) Cincinnati was founded by missionaries with the intention of developing a theocratic society.

a. True

b. False

2) The discovery of oil in Texas led to waves of industrialization and significant changes to the economy.

a. True

b. False

3) American slaves were often undernourished as children, but fed well as adults, resulting in a unique “catching up,” of heights relative to comparison groups.

a. True

b. False

4) During South Korea’s economic development, very little change came to the industrial structure or makeup of exports

a. True

b. False

5) Piketty’s theory on inequality was that faster increases in the growth of capital income vs. wage income led to an increase in the concentration of wealth.

a. True

b. False

6) During the roaring twenties, prosperity was widespread and economists believed they reached a new level of prosperity

a. True

b. False

7) Knowledge during the European age of exploration was partially built off that of Arab and Muslim explorers during preceding years.

a. True

b. False

Page 1 of 3

8) Which of the following is a major reason the city of Columbus developed?

a. Columbus was a transportation hub, and could trade with cities like Cincinatti and Pittsburg easily

b. Columbus was the state capital, and offered political value for those who sought to influence legislators

c. Rich deposits allowed Columbus to export coal cheaply

9) Which does NOT describe a limitation of China during their economic reforms of the last few decades?

a. Unemployment and difficulty finding jobs

b. Inequality between Eastern and Western portions of the country

c. Abnormally high tariffs on steel

10) Which was NOT an effect of the Black Plague?

a. Religious fervor and fanaticism increased, resulting in persecution in some cases

b. Wages rose due to the reduction in the supply of labor

c. Approximately 75 to 200 million people died across Europe and Asia

d. An increase in exploration and understanding of science and medicine

11) Which is most likely to describe a “source country,” for human trafficking?

a. A developing country with low rates of growth

b. A highly religious country with traditional institutions

c. A rich and economically forward country

d. A socially liberal, sexually relaxed country

12) Which of the following did not contribute to the long-run prosperity of the US?

a. Good Economic institutions

b. Geography and natural resources

c. Unified religion and a further demand for central governance

d. Opportunity-centered and hard-working culture

13) Which was NOT a policy that led to Singapore’s economic expansion?

a. Good free trade relationships with other countries

b. Investments in infrastructure and technology

c. Adoption of Calvinism as the national religion

d. Work with the UN and adoption of the Economic Development Board

14) What was of India’s responses to the financial crisis?

a. Collectivization of the means of production

b. Decrease of import taxes and an expansion of trade

c. Return to traditional agricultural methods

15) Which was not an effect of the Bubonic Plague in Europe

a. Population reduction of approximately 33% in Europe

b. Food prices rose due to strains on livestock

c. Unrest and revolts as landlords attempted to control economic responses

16) Which of the following was NOT a reason China adopted the One Child Policy?

a. Limited food relative to agricultural capacity

b. Limited economic opportunity relative to number of young people seeking employment

c. Widespread child labor led to pressure to reduce it

Section 2: Short Answer

I am expecting 1-2 paragraphs for each question. You are demonstrating knowledge of the material, so more detail is always better.

17. In his “Essay on the Principle of Population,” Malthus summarizes two ways of thinking, which we coined; the “perfectibility of man,” and “oscillation of misery.” Briefly describe these schools of thought, and explain why Malthus supported one or the other.

18. Describe 2 historical events or time periods that display the principles (or support or refute the conclusions) of the Malthusian population model. (Note: I’m not looking for any 2 specific events here, I’m looking to see how well you can relate the model to historical events.)

19. In the Allen paper, there were 4 unique qualities about British input prices mentioned:

-British wages were higher than other countries

-High silver wages meant a high standard of living

-British wage-to-capital ratio was high

-British wage-to-energy ratio was high

Choose 3, and briefly describe how they affected the incentive structure of Great Britain’s economy, and led to the Industrial Revolution taking place in Great Britain.

20. Explain the 2 views of technical change during the Industrial Revolution, and briefly describe the reasons why Temin supported one side or the other.

Analyze primary economic assumptions get essay help: get essay help

“Competitive Markets, Price, Quality, and Monopoly”  Please respond to the following:From the e-Activity, analyze at least two (2) primary economic assumptions and examine their short- and long-term impact on promoting the competitive market model in the healthcare environment. Evaluate the fundamental reasons why price and utilization economic factors in the healthcare setting influence competitive market status in regard to supply and demand for health care services. Provide at least one (1) example of such factors to support your response.Take a position on whether or not monopolistic competition works within a healthcare setting. Support for your position should include a discussion of the monopoly model being used to predict the allocation of resources in healthcare markets within preferred provider organizations.

Developing a theocratic society essay help writer: essay help writer

1) Cincinnati was founded by missionaries with the intention of developing a theocratic society.

a. True

b. False

2)   The discovery of oil in Texas led to waves of industrialization and significant changes to the economy.

a. True

b. False

3)   American slaves were often undernourished as children, but fed well as adults, resulting in a unique “catching up,” of heights relative to comparison groups.

a. True

b. False

4)   During South Korea’s economic development, very little change came to the industrial structure or makeup of exports

a. True

b. False

5)   Piketty’s theory on inequality was that faster increases in the growth of capital income vs. wage income led to an increase in the concentration of wealth.

a. True

b. False

6)   During the roaring twenties, prosperity was widespread and economists believed they reached a new level of prosperity

a. True

b. False

7)   Knowledge during the European age of exploration was partially built off that of Arab and Muslim explorers during preceding years.

a. True

b. False

8)   Which of the following is a major reason the city of Columbus developed?

a. Columbus was a transportation hub, and could trade with cities like Cincinatti and Pittsburg easily

b. Columbus was the state capital, and offered political value for those who sought to influence legislators

c. Rich deposits allowed Columbus to export coal cheaply

9)   Which does NOT describe a limitation of China during their economic reforms of the last few decades?

a. Unemployment and difficulty finding jobs

b. Inequality between Eastern and Western portions of the country

c. Abnormally high tariffs on steel

10)   Which was NOT an effect of the Black Plague?

a. Religious fervor and fanaticism increased, resulting in persecution in some cases

b. Wages rose due to the reduction in the supply of labor

c. Approximately 75 to 200 million people died across Europe and Asia

d. An increase in exploration and understanding of science and medicine

11)   Which is most likely to describe a “source country,” for human trafficking?

a. A developing country with low rates of growth

b. A highly religious country with traditional institutions

c. A rich and economically forward country

d. A socially liberal, sexually relaxed country

12)   Which of the following did not contribute to the long-run prosperity of the US?

a. Good Economic institutions

b. Geography and natural resources

c. Unified religion and a further demand for central governance

d. Opportunity-centered and hard-working culture

13)   Which was NOT a policy that led to Singapore’s economic expansion?

a. Good free trade relationships with other countries

b. Investments in infrastructure and technology

c. Adoption of Calvinism as the national religion

d. Work with the UN and adoption of the Economic Development Board

14)   What was of India’s responses to the financial crisis?

a. Collectivization of the means of production

b. Decrease of import taxes and an expansion of trade

c. Return to traditional agricultural methods

15)   Which was not an effect of the Bubonic Plague in Europe

a. Population reduction of approximately 33% in Europe

b. Food prices rose due to strains on livestock

c. Unrest and revolts as landlords attempted to control economic responses

16)   Which of the following was NOT a reason China adopted the One Child Policy?

a. Limited food relative to agricultural capacity

b. Limited economic opportunity relative to number of young people seeking employment

c. Widespread child labor led to pressure to reduce it

Assignment on Housing collapse college essay help nyc

Microeconomics – Week #3 Assignment

Housing collapse PaperAfter reading Special Topic 5, write a 2-page paper answering the followingWhy did housing prices rise rapidly during 2002 – 2005?

Why did the mortgage default rate increase so sharply during 2006 and 2007 even before the 2008 – 2009 recession began?

What did the Community Reinvestment Act have to do with the housing bubble and collapse?

Cite your sources as needed.  Use APA formatting.

Economics for Decision Making cheap mba definition essay help: cheap mba definition essay help

ECO10250 Economics for Decision

Making

Study Guide

CRICOS Provider: 01241G scu.edu.au/business-tourism

http://scu.edu.au/business-tourism

© 2017 Southern Cross University

Southern Cross University Military Road East Lismore NSW 2480

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by means electronic, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher.

Copyright material indicated in this work has been copied under Part VB of the Copyright Act 1968.

2017.3

2

Contents

Introduction ………………………………………………………………………………………………………………………………………………………………………….. 7

Topic 1 Introduction to economics …………………………………………………………………………………………………………………………………. 9 Introduction…………………………………………………………………………………………………………………………………………………………………… 9 Objectives ………………………………………………………………………………………………………………………………………………………………………. 9 Microeconomics and macroeconomics………………………………………………………………………………………………………………………. 10 Fundamental economic concepts………………………………………………………………………………………………………………………………… 10 Opportunity cost………………………………………………………………………………………………………………………………………………………….. 11 Economics in practice …………………………………………………………………………………………………………………………………………………. 12 Economic theory………………………………………………………………………………………………………………………………………………………….. 12 Economic models ………………………………………………………………………………………………………………………………………………………… 12 Markets and trade………………………………………………………………………………………………………………………………………………………… 13 Economic systems ……………………………………………………………………………………………………………………………………………………….. 14 Summary ……………………………………………………………………………………………………………………………………………………………………… 14 Review activities…………………………………………………………………………………………………………………………………………………………… 14 Feedback to activities …………………………………………………………………………………………………………………………………………………… 15

Topic 2 Markets: Demand and supply …………………………………………………………………………………………………………………………. 16 Introduction…………………………………………………………………………………………………………………………………………………………………. 16 Objectives …………………………………………………………………………………………………………………………………………………………………….. 16 Demand ……………………………………………………………………………………………………………………………………………………………………….. 16 Supply …………………………………………………………………………………………………………………………………………………………………………… 17 Equilibrium price…………………………………………………………………………………………………………………………………………………………. 18 The free-market economy ……………………………………………………………………………………………………………………………………………. 19 Summary ……………………………………………………………………………………………………………………………………………………………………… 19 Review activities…………………………………………………………………………………………………………………………………………………………… 20 Feedback to Activities ………………………………………………………………………………………………………………………………………………….. 21

Topic 3 Markets: Elasticity……………………………………………………………………………………………………………………………………………….. 25 Introduction…………………………………………………………………………………………………………………………………………………………………. 25 Objectives …………………………………………………………………………………………………………………………………………………………………….. 25 Price elasticity of demand ……………………………………………………………………………………………………………………………………………. 26 Calculating price elasticity of demand………………………………………………………………………………………………………………………… 26 Investigating elasticity along the demand curve…………………………………………………………………………………………………………. 27 Determinants of price elasticity of demand………………………………………………………………………………………………………………… 28 Income elasticity of demand (denoted by ηy) …………………………………………………………………………………………………………….. 29 Cross price elasticity of demand (denoted by ηx) ………………………………………………………………………………………………………. 30 Price elasticity of supply ………………………………………………………………………………………………………………………………………………. 30 Short-run and long-run demand ………………………………………………………………………………………………………………………………… 31 Markets where prices are controlled …………………………………………………………………………………………………………………………… 31 Consumer surplus, producer surplus & total surplus ………………………………………………………………………………………………… 31 Summary ……………………………………………………………………………………………………………………………………………………………………… 32 Review activities…………………………………………………………………………………………………………………………………………………………… 33 Feedback to Activities ………………………………………………………………………………………………………………………………………………….. 33

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Topic 4 The supply decision …………………………………………………………………………………………………………………………………………… 37 Introduction…………………………………………………………………………………………………………………………………………………………………. 37 Concept review ……………………………………………………………………………………………………………………………………………………………. 38 What is a firm? …………………………………………………………………………………………………………………………………………………………….. 38 Economic profit……………………………………………………………………………………………………………………………………………………………. 39 Economic efficiency …………………………………………………………………………………………………………………………………………………….. 39 Markets and the competitive environment …………………………………………………………………………………………………………………. 40 Short-run cost ……………………………………………………………………………………………………………………………………………………………… 40 Long-run production and cost ……………………………………………………………………………………………………………………………………. 42 Excess capacity and over-utilisation ……………………………………………………………………………………………………………………………. 43 Profit and revenue ……………………………………………………………………………………………………………………………………………………….. 44 The firm’s decisions ……………………………………………………………………………………………………………………………………………………… 45 Profit-maximising output ……………………………………………………………………………………………………………………………………………. 46 The firm’s short-run supply curve ……………………………………………………………………………………………………………………………….. 46 Profit and losses in the short and long-run…………………………………………………………………………………………………………………. 47 Summary ……………………………………………………………………………………………………………………………………………………………………… 48 Review activities…………………………………………………………………………………………………………………………………………………………… 48 Feedback to activities …………………………………………………………………………………………………………………………………………………… 48

Topic 5 Market structure: Perfect competition & monopoly ………………………………………………………………………………….. 56 Introduction…………………………………………………………………………………………………………………………………………………………………. 56 Concept review ……………………………………………………………………………………………………………………………………………………………. 57 Objectives …………………………………………………………………………………………………………………………………………………………………….. 57 What is perfect competition? ………………………………………………………………………………………………………………………………………. 58 Short- and long-run equilibrium ………………………………………………………………………………………………………………………………… 58 Monopoly …………………………………………………………………………………………………………………………………………………………………….. 59 Summary ……………………………………………………………………………………………………………………………………………………………………… 61 Review activities…………………………………………………………………………………………………………………………………………………………… 62 Feedback to activities …………………………………………………………………………………………………………………………………………………… 62

Topic 6 Market failure and government policy …………………………………………………………………………………………………………. 66 Objectives …………………………………………………………………………………………………………………………………………………………………….. 66 The economic theory of government ………………………………………………………………………………………………………………………….. 67 Externalities …………………………………………………………………………………………………………………………………………………………………. 68 Public goods…………………………………………………………………………………………………………………………………………………………………. 68 Monopoly …………………………………………………………………………………………………………………………………………………………………….. 69 Government intervention ……………………………………………………………………………………………………………………………………………. 70 Property rights …………………………………………………………………………………………………………………………………………………………….. 70 External costs: The environment…………………………………………………………………………………………………………………………………. 70 Progress in microeconomic reform …………………………………………………………………………………………………………………………….. 71 Trade practices legislation …………………………………………………………………………………………………………………………………………… 72 Summary ……………………………………………………………………………………………………………………………………………………………………… 74 Review activities…………………………………………………………………………………………………………………………………………………………… 74 Feedback to activities …………………………………………………………………………………………………………………………………………………… 74

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Topic 7 Introduction to macroeconomics…………………………………………………………………………………………………………………… 79 Introduction…………………………………………………………………………………………………………………………………………………………………. 79 Objectives …………………………………………………………………………………………………………………………………………………………………….. 80 Economic growth ………………………………………………………………………………………………………………………………………………………… 81 Jobs and unemployment ……………………………………………………………………………………………………………………………………………… 82 Inflation ……………………………………………………………………………………………………………………………………………………………………….. 83 Governments and deficits ……………………………………………………………………………………………………………………………………………. 84 The circular flow of economic activity ………………………………………………………………………………………………………………………… 85 Australia’s national accounts ……………………………………………………………………………………………………………………………………….. 87 The price level and inflation ………………………………………………………………………………………………………………………………………… 89 Real GDP and associated limitations ………………………………………………………………………………………………………………………….. 91 Labour market indicators and unemployment definitions ………………………………………………………………………………………… 91 The labour market ……………………………………………………………………………………………………………………………………………………….. 93 Summary ……………………………………………………………………………………………………………………………………………………………………… 95 Review activities…………………………………………………………………………………………………………………………………………………………… 95 Feedback to activities …………………………………………………………………………………………………………………………………………………… 95

Topic 8 Gross domestic product ………………………………………………………………………………………………………………………………….. 100 Introduction……………………………………………………………………………………………………………………………………………………………….. 100 Aggregate demand……………………………………………………………………………………………………………………………………………………… 101 Aggregate supply………………………………………………………………………………………………………………………………………………………… 102 Macroeconomic equilibrium …………………………………………………………………………………………………………………………………….. 104 The multiplier …………………………………………………………………………………………………………………………………………………………….. 104 Fluctuations in economic activity resulting from shocks …………………………………………………………………………………………. 104 Summary ……………………………………………………………………………………………………………………………………………………………………. 105 Review Activities………………………………………………………………………………………………………………………………………………………… 105 Feedback to Activities ………………………………………………………………………………………………………………………………………………… 105

Topic 9 Money, interest rates & inflation …………………………………………………………………………………………………………………… 108 Introduction……………………………………………………………………………………………………………………………………………………………….. 108 Money markets…………………………………………………………………………………………………………………………………………………………… 109 Types of inflation ……………………………………………………………………………………………………………………………………………………….. 111 Inflation policy …………………………………………………………………………………………………………………………………………………………… 113 Summary ……………………………………………………………………………………………………………………………………………………………………. 114 Review activities…………………………………………………………………………………………………………………………………………………………. 114 Feedback to activities …………………………………………………………………………………………………………………………………………………. 114

Topic 10 The global economy………………………………………………………………………………………………………………………………………. 116 Introduction……………………………………………………………………………………………………………………………………………………………….. 116 Global interdependence and the gains from trade……………………………………………………………………………………………………. 117 Arguments for restricting trade…………………………………………………………………………………………………………………………………. 117 Trading blocs ……………………………………………………………………………………………………………………………………………………………… 118 The balance of payments ……………………………………………………………………………………………………………………………………………. 118 Foreign exchange markets and the dollar …………………………………………………………………………………………………………………. 119 Exchange rate determination: Flexible exchange rates……………………………………………………………………………………………… 120 Summary ……………………………………………………………………………………………………………………………………………………………………. 121 Review activities…………………………………………………………………………………………………………………………………………………………. 122 Feedback to activities …………………………………………………………………………………………………………………………………………………. 122

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Topic 11 Fiscal and monetary policy ………………………………………………………………………………………………………………………….. 123 Introduction……………………………………………………………………………………………………………………………………………………………….. 123 The Commonwealth Government budget ………………………………………………………………………………………………………………… 124 The effectiveness of fiscal policy ………………………………………………………………………………………………………………………………… 125 The Reserve Bank and monetary policy ……………………………………………………………………………………………………………………. 125 The relative effectiveness of fiscal and monetary policy …………………………………………………………………………………………… 126 Summary ……………………………………………………………………………………………………………………………………………………………………. 127 Review activities…………………………………………………………………………………………………………………………………………………………. 128 Feedback to activities …………………………………………………………………………………………………………………………………………………. 128

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Introduction

This is an introductory course in economics which concentrates on explaining and examining those influences on the level of economic activity in economies such as Australia. It is concerned with the micro and macroeconomic issues which affect us all, such as production decisions, market structures, interest rates, inflation, growth, unemployment and the international sector. Current events are used to illustrate the purposes and conduct of policies by individual companies and governments as they wrestle with some of the micro and macro domestic and international economic problems that confront Australia.

The unit systematically develops an understanding of the main determinants of economic activity in Australia, the problems that face policy makers in regulating the level of economic activity, and the effectiveness of the instruments used by governments in addressing these problems. The order of treatment of topics has been chosen so that the fundamentals of the economy are progressively introduced and new concepts build upon ones previously discussed. It is very important that you have a good understanding of each topic before moving on to the next since each topic builds on the previous topic.

The unit begins by examining the foundation economic principles and then moves to looking at how the microeconomic market is developed through an analysis of product decisions and the various markets which these products are sold in. The next microeconomic step is to investigate why markets fail and offer theories as to how reform can assist. The first macroeconomics topic examines the main indicators of economic performance in the economy and the model which illustrates the impact of changes in these variables. Australia’s international economic relationships complexities are then considered. The unit concludes with some consideration of the complexities of economic management and an evaluation of them in the light of current economic events.

There are eleven topics in this unit. As a guide you should spend about one week on each topic. Your rate of progress in this unit will depend upon your interest in the material, the speed with which you can study, and any outside commitments you might have. You might also find that some topics can be completed much more quickly than others. As a general rule it is suggested that you spend at least 12 hours a week on most topics – 3 hours going through the study learning materials including those on MySCU; 4 hours carefully reading the textbook and taking notes; 2 hours reading the supplied readings and other relevant material; and 3 hours undertaking activities and review activities.

The study guide begins each topic with a brief introduction that outlines broadly what is going to be covered followed by the learning objectives for the topic. The learning objectives should direct your study activity since they identify the expected outcomes from your study of each topic. When you have completed each topic you should check to see that each of the objectives has been achieved.

The leaning objectives are followed by information about the principal reference(s) for the topic. Each topic in the study guide is broken into subsections to make it easier for learning. Follow the directions contained in each section. Throughout the topic you will be given learning activities which test your understanding of the concepts covered. You should try to answer each learning activity before you move on to the next section. Answers to (or feedback on) the learning activities are provided at the end of each topic. We recommend that you attempt the learning activity before consulting the solution. If your answer differs from the one given and you are still confused, then go back through that section again.

At the end of each topic there is a summary which wraps up what we have covered.

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The text – Sloman, J, Norris, K ∓ Garratt, D (2014) – follows the topics fairly closely but there will be times when it doesn’t but these will be pointed out in the guide. We recommend that when you have worked through a topic you undertake the MyEconLab activities from the relevant chapter/s. Again you should attempt your own answer before you look up the answer provided. You are also strongly encouraged to keep up to date with the current economic issues by reading newspaper articles regularly.

For additional important information please refer to the Unit Information document associated with this unit. The Unit Information document provides you with material about assessment, study timetable and additional references.

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Topic 1

Introduction to economics

Introduction This first topic introduces you to the discipline of economics and discusses some of the main concepts that underpin the economic method of analysis. We begin by considering the nature of microeconomics and how it differs from macroeconomics.

Some fundamental economic concepts are introduced in this topic and they will form an essential foundation to the rest of your work in this unit. The basic economic problem is how best to use scarce resources to meet the needs of human beings and involves concepts such as scarcity, choice and opportunity cost.

In its function in the real world, economics concerns itself with theory, models and the use of graphs to depict and analyse economic data. This topic considers all of these areas and introduces the important assumption of ceteris paribus, which enables economists to focus on individual variables or small models which are abstractions from the total economy.

Building upon the earlier concept of opportunity cost, the next concept examined is the production possibility frontier and the circular flow of the economy.

Many of you will have had previous exposure to a number of these concepts and will be able to refresh your knowledge relatively quickly. Those of you who have never studied economics or graphical analysis may need to take more time with the material. It is very important that you have a good understanding of each topic before moving on to the next since each topic builds on the previous topic.

Objectives On completion of this topic you should be able to:

Study materials The time you need to spend studying Topic 1 will depend upon your previous experience in the study of Economics. Topic 1 sets the foundation for further study in this unit.

distinguish between macroeconomics and microeconomics

describe the basic economic problem and explain why scarcity forces people to make choices

outline the role and uses of economic theory and models and the assumptions underlying their use

describe the operation of markets as coordinating mechanisms

explain opportunity cost and illustrate its use graphically through the production possibility frontier concept.



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Textbook Sloman, J., Norris, K. & Garratt, D., 2014, Chapter 1.

Readings

Microeconomics and macroeconomics This unit ECO10250 is a specialisation of the broad discipline of economics. The prefix micro means that we are studying economics at a base level of individual consumers, firms or industries, rather than from the broader view of the total economy which is covered in macroeconomics. The first six topics of this subject focus on microeconomics with Topics 7 to 11 focusing on macroeconomics. Microeconomics focuses on the efficient allocation of scarce resources, between alternative competing uses. Macroeconomics, on the other hand, concentrates on the economy as a whole, for example employment, national income, trade, inflation etc.

In microeconomics we examine how consumers will be trying to maximise the satisfaction they can obtain from consuming products and firms will be trying to maximise profits (total revenue minus total costs). A market is defined as an arrangement that facilitates buying and selling. Note that a market does not have to be visible or occupy a space, for example, an interface between buyers and sellers may be achieved electronically.

Markets do not always allocate resources efficiently. This could mean that consumers are not able to buy products for a price which reflects the true costs of production or society may be incurring additional costs such as pollution of the environment, where producers are not held accountable for their production costs. Costs passed on externally to society are called externalities. Hence we need a market supervisor such as the government, whose role might be to provide some goods and services to households, redistribute income and manage the economy in such a way as to maximise the welfare of the constituents, particularly when the markets fail to share wealth efficiently.

Fundamental economic concepts Economics is based upon some fundamental concepts which govern economic thought, such as scarcity, opportunity cost, choice and marginal cost. The concepts of scarcity, opportunity cost and choice are central to the economic problem which we will now consider.

The economic problem Take a moment to think about your own strategy to study this unit. Economics is about scarcity of resources and making decisions about how to best use those resources. Immediately the study session starts, your time can become a scarce resource for you. However you divide your time there will be a cost, because as soon as we use a scarce resource in one activity such as studying this unit, you are precluding use of your time (the scarce resource) for other activities such as sports or hobbies. Almost every decision we make has some element of choice, and almost every choice we make has some personal economic consequence. Economics is sometimes called the science of choice.

1.1 Lipsey, R. G., Langley, P. C. & Mahoney, D. M., 1981, ‘The economic problems of Australia’s early governors’, in Positive Economics for Australian Students, Weidenfeld and Nicholson, London, pp. 59–63.

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Let’s consider the following definitions of economics.

Lipsey, Langley and Mahoney (1981, p. 63) state:

Broadly defined, modern economics concerns:

This unit will touch on all four concerns in this definition.

The economic problem of limited resources and unlimited wants leads to five fundamental questions that must be answered by societies.

These questions are:

The way these questions are answered is dependent on whether a society adopts a command or free-market economy.

Milton Friedman (arguably one of the greatest economists of our time) has said that in practice economics:

The old cliché ‘you can’t have your cake and eat it too’ may be relevant to the dilemma we face when using scarce resources. Whenever choices have to be made there is an opportunity cost, which is the cost of the best alternative forgone. This is the focus of the next section.

Opportunity cost Intimately linked to the study of economics is the concept of opportunity cost. Because we have limited amounts of time, money, resources etc. we cannot have everything that we want. Hence we are continually faced with making choices. The cost of what you choose to do is equal to the best alternative forgone. The opportunity cost of the choice you made is the best alternative passed up. For example, two students doing the same university course may have very different opportunity costs. Industrious Sally may be incurring an opportunity cost of a large salary by becoming a full-time student this year, whilst Larry may be forgoing an overseas trip.

Economics is the study of the choices people make to cope with scarcity and the incentives that influence and reconcile those choices.

— (McTaggart, Findlay & Parkin, 2007, p. 4)

The allocation of a society’s resources among alternative uses and the distribution of a society’s output among individuals and groups

1.

The degree to which society’s resources are used at all2. The ways in which production and distribution change over time, and3. The efficiencies and inefficiencies of economic systems.4.

What goods and services (G & S) should be produced?

How much of each G & S should be produced?

How should these G & S be produced?

Where should these G & S be produced?

Who will consume these produced goods and services?

Always comes down to trying to understand the forces of demand and supply, based on the idea of using scarce resources to achieve alternative goals.

— (McTaggart, Findlay & Parkin, 1992, Economics, p. 89)

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Later in this topic we will examine opportunity cost in relation to another concept, that of the production possibility frontier. For an economy to function, decisions have to be made, such as what commodities to produce.

Now we will turn our attention to what economists do and how they use theory, models and graphs.

Economics in practice Economists, in their work on a wide variety of problems, make extensive use of economic theory, economic models and graphs. We will examine all these aspects in this section of the topic.

First we will distinguish between two types of statements often used in economics: positive statements and normative statements.

Positive and normative statements Positive statements deal with facts; they state ‘what is’. Normative statements are based on value judgements and state ‘what ought to be’.

An example of a positive statement would be: ‘NSW spends less money on education per head of population than any other state’. This is a positive statement since it describes reality. An example of a normative statement would be: ‘NSW should spend more money on education’. Normative statements often contain words like ‘ought to’ or ‘should’. Positive statements may be tested against facts or evidence available, whereas normative statements can only be settled by show of preference. In general, economics is the study of ‘what is’ and not ‘what ought to be’.

Economic theory Economic theory is the currently accepted body of generalisations used to explain why economic events happen. For example, the law of demand states that consumers will demand more of a product at lower prices, given other things remaining constant. This is a generalisation saying that a change in price will cause a change in the quantity demanded. It is not difficult to demonstrate with the use of data that a theory such as this one will work in practice. In contrast you will also learn that there will be examples which refute the theory. For example, during the Irish potato famine it was found that when the price of potatoes rose the demand for potatoes also rose, because potatoes being the most affordable staple in the diet, people were left with even less income for substitute staples, forcing them to actually consume more potatoes. You may often find examples contrary to a theory. In this unit you will be exposed to the introductory microeconomic theory necessary to analyse applied economic problems.

Economic models Economic models are abstractions of an economy used to analyse relationships between variables and to make predictions (forecasts) about a complete economy. For example, a simple model of an education market might have three components:

a set of consumers, who are the students

a market place, which is the campus or communication facility

a set of suppliers, who are the teaching staff (or it could be argued that teaching staff are inputs and that schools are the suppliers).



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There will be transactions or flows in both directions through the market place. Of course this will only be a simple abstraction (not a complete replica) since the market may not function without other components such as government funding.

To perform the task of observing or predicting economic reactions to stimuli such as changes in wage rates or prices it is often necessary to hold many variables constant so that we can focus attention on a small number of variables at one time. This assumption we refer to as ceteris paribus, meaning other things being equal or remaining constant. For example, if you want to observe any changes in the consumption of ‘Big Macs’ when prices are suddenly raised, you will probably find it necessary to assume that wages have remained constant and the total number of customers has not changed. Otherwise these interferences will hinder us from drawing what should be reasonably accurate conclusions about consumption.

Markets and trade The previous section introduced the fundamental concept of opportunity cost. Building on that concept is the production possibility frontier, which we will consider now.

The production possibility frontier An effective illustration of attainable levels of production is the production possibility frontier (PPF) shown in Figure 1.1 of the text. It is the boundary between attainable and unattainable levels of production for a fixed resource. For example, if an economy has a labour force of, say, 1 million workers who are employed either growing food or making clothes, we can imagine the extremes of production if all the workers are making clothes or all are growing food. In between the extremes different combinations of workers are employed in the two tasks. The path of attainable points forms the frontier. All points under the frontier are attainable, but those above are only reachable if production increases through workforce growth and/or technology gains.

The market economy All the economic decisions that have to be made in an economy need some mechanism to coordinate them in order to ensure that the basic production tasks are carried out. The major coordinating mechanism is the market. Markets if left to operate without interference will address the resource allocation questions of what, how, when, where, and who. However, the resulting decisions might not be fair or please everyone. Alternative mechanisms, such as a command mechanism, have been used to allocate scarce resources, but we will focus on markets and the market economy.

The circular flow model of the economy is a well-known economic model, shown in Figure 1.5 of the textbook. It includes households and firms, households being the consumers and firms being the producers. The transactions between them take place in two markets, the goods market and the factor market. The goods market involves the sale of goods and services and the factor market involves the sale of the factors of production (land, labour capital and entrepreneurship). The flow of goods and services (commodities) from firms to households will produce a counter flow of money from households to firms.

Lipsey, Langley & Mahoney, 1981, pp. 59–63.

Reading 1.1r

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The major questions of microeconomics are referred to in the reading:

Study carefully the production possibility boundary (or frontier) given and how the choices are illustrated. Pay particular attention to the statement at the bottom of the second page:

Thus the opportunity cost of getting qs more food is that pr of other goods are sacrificed.

Using Reading 1.1:

Economic systems All societies are faced with the problem of scarcity however the way they tackle the problem differs considerably. One important difference between societies is the degree of government control of the economy. In a command economy the state plans the allocation of resources while in the free-market economy all economic decisions are made by households and firms. The mixed economy refers to one where the state as well as households and firms make the economic decisions.

Summary This topic introduced you to fundamental economic concepts such as the nature of the economic problem, choice and scarcity, opportunity cost, the production possibility frontier, marginal cost, marginal benefit and efficiency. It also considered the differences between positive and normative statements and between microeconomics and macroeconomics. The uses of graphs to depict economic data were discussed. The emphasis in this unit is on applications of economic principles and this topic outlined how economic theories could be used to understand human behaviour. The topic also stressed the need for the coordinating mechanism of a market to regulate the economic decisions that each country needs to make.

Review activities

You are advised to undertake activities in the Sloman, Norris & Garratt, 2014, MyEconLab, Chapter 1.

What commodities are being produced and in what quantities?

By what methods are they being produced?

How is society’s output of goods and services divided among its members?

How efficient is the society’s production and distribution?

Activity 1.1a

Suggest why the frontier is bulging outwards.1. What is the significance of the slope?2. What are some causes of an outward shifting boundary?3. What could have caused an inward shift in the boundary?4.

Review activitiesa

How to Create Demand and Supply college application essay help online

Assignment 1 – Information for students

Read the questions carefully and make sure you answer each question fully.

Follow any word length suggestions

Assume the marker knows nothing about the topic

Use as many graphs as you can

Label your graphs carefully and explain them fully

Show your calculations

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Assignment 1 – Information for students

Turitin

keep your receipt from Turnitin – if you do not get one you have NOT submitted your assignment

make sure your score is acceptable

you will be able to check your Turnitin score (1st time you will receive a score quickly however takes longer for others)

References

cite other people’s work in the body and provide a reference list

hard to be prescriptive about the number of references

no need to reference the unit study guide

Harvard – be consistent

font size 12 with 1.5 line spacing is recommended

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Do NOT contact me for technical questions about submission – contact University IT Help

If you submit assignment then you cannot submit another copy unless you request me to remove the previous submission

Technical Issues

For students who are struggling with graphs – look at these websites:

http://cls.syr.edu/mathtuneup/grapha/TOCbook.html

www.desmos.com

https:// youtu.be/7zPxWgBaQUI

For students want to draw supply curves in word

https://www.bing.com/videos/search?q=how+to+create+supply+and+demand+curves+in+word&qpvt=how+to+create+supply+and+demand+curves+in+word&view=detail&mid=C149A21EC6D5F790C659C149A21EC6D5F790C659&&FORM=VRDGAR

Graphs

Choices

Production possibilities
Grade (%)
Work (hours per week)

A B C D E
0 20 40 60 80
60 55 45 30 0

Question 1a

Joan, who has been a university student for a year, has just started a new job. She realises that if she works more hours there will be an impact on her grades. The following is Joan’s production possibility table for work and her average grades:

From the figures in the table above:

i. Plot the production possibility curve for Joan. (1 mark)

ii. Explain the concept of increasing opportunity cost using the production possibility table and curve plotted in Q1ai above. (2 mark)

iii. If the opportunity cost of Joan increasing her grade was constant regardless of how many hours she worked, what would be the shape of her production possibility curve? Draw this graph. Which of the two shapes would be more likely, and why? (2 marks)

iv. What would be happening if Joan’s combination of her grades and hours of work per week were below the curve as plotted above in Q1ai? (1 mark)

v. How could Joan push her combination of her grades and hours of work per week past the current curve? (2 mark)

Question 1a (cont)

Does not matter which axes is used for the two alternatives but make sure you label everything

Q1ii is about ‘increasing opportunity cost’.

Explain the concept of increasing opportunity cost (hence the shape of the curve)

Q1iii Explain your answer – you do not have to use actual figures

Question 1a (cont)

After a period of good growing weather Australia produced a plentiful wheat crop – does this mean that it will not have a scarcity problem in regards to wheat? Provide reasons for your answer (300 words maximum).

(2 marks)

Question 1b

Make sure you explain the concept of scarcity very clearly in your answer

Question 1b

In February 2018, it was reported that Australia’s solar power capacity could almost double in a year.

a. Use demand and supply curves to show the doubling of capacity. (3 marks)

b. Use demand and supply curves to show what is likely to happen to demand over time in response to the capacity increases (see Q2a above). (3 marks)

c. Use demand and supply curves of the solar powered industry and coal-fired power electricity industry to show what is likely to happen to demand and supply of solar power if the government introduces a tax on coal-fired power electricity. (4 marks)

Question 2

Remember that markets are in constant change as consumers and producers respond to changes in price. Part a asks you to identify what would change first NOT the on-going responses of either consumers and/or producers.

Assume that the doubling of capacity in Q2a is due to something like new and/or improved technology – will this effect D and/or S? You only need to identify the FIRST change.

In Q2c you need to determine how a tax will impact on CPE. You should also explain the relationship between CPE and Solar power.

Question 2 (cont)

Question 3 (10 marks)

a. Explain in your own words, using demand and supply curves, the concepts of consumer and producer surplus. (3 marks)

b. Using demand and supply curves describe and illustrate what would happen to consumer and producer surplus if solar power capacity is increased. (4 marks)

c. The treasurer, Scott Morrison, has stated that business tax cuts will be good for business and workers. Is this a positive or a normative statement? Provide reasons for your answer (300 words maximum). (3 marks)

Question 3

For Q3b use your diagram from 2a to discuss the changes to CS and/or PS

Question 3

Price ($)
Quantity demanded
Total revenue ($)
Percent change in price
Percentage change in quantity demanded
Elasticity value
Assessment of Elasticity

0.50
16

1
13

1.50
10

2.00
7

2.50
4

3.00
1

Question 4a

Complete the table below outlining the demand for hot doughnuts in winter. In your calculations use the midpoint method to calculate the price elasticities. (5 marks)

Remember that elasticity is between P & Q

You ONLY need to calculate FIVE elasticities

Elasticity values are absolute – they do not need a positive or negative sign

Show your calculations

Question 4a

b. Do you think the price elasticity of demand for hot doughnuts in summer would be the same as in winter or would it become more elastic or more inelastic? Explain your answer. (3 marks)

c. What would you expect the price elasticity of demand for cigarettes to be? Explain your answer. (2 marks)

Question 4b and c

Output
Total Fixed Cost (TFC) $
Total Variable Cost (TVC) $
Total Cost (TC)   $
Average total cost (ATC) $
Marginal Cost (MC)   $
Total Revenue (TR) $
Average Revenue (AR) $
Marginal Revenue (MR) $
Profit $

0
100.00

100.00

1

220.00

2

300.00

3

390.00

4

530.00

5

690.00

Question 5a

i. Complete the cost schedule below for a company operating in a free-market (remember that MC and MR values are placed midway between the output figures):

4 marks)

Remember that MC & MR is between outputs

See Q5b for information about revenue

ii. If the firm is operating in a perfect market where the market price for the good the company produces is $150, how many items should this company produce in order to maximise profit? Explain your answer. (2 marks)

iii. Graph the average total cost, marginal cost, average revenue and marginal revenue curves. (2 marks)

Question 5a (cont)

In your own words explain the concept of diminishing returns and describe what will happen to marginal product, total output and marginal cost when diminishing returns start to occur. (2 marks)

Question 5b

Air Pollution in California paper narrative essay help

Air Pollution in California

Pollution can be defined as components that cause changes in the environment when

introduced to it. These components can be chemicals components or even energy such as heat or

noise in the environment. There are various forms of pollutions and some of them include air

pollution, water pollution, and noise pollution.

California is one of the leading states with very high air pollutions mostly in Los Angeles.

Los Angeles is one of the cities in California that has the worst air pollution. The air pollution is

mostly caused by the diesel engines, motor vehicles and industries. Ships have the diesel engines

that produce gases that react with the natural gases in the atmosphere causing changes in the

atmosphere. Many people live in California and each and every day these people move from

places to places they at times use of motor vehicles that have diesel engines too that produce

gases that affect the atmosphere. Industries also produce chemical compounds that cause changes

in the environment (Brunekreef & Holgate, 2010).

Air pollution in California has caused too many defects on people’s heaths. For example,

it has led to respiratory harm such as worsened asthma and inflammation, cardiovascular harm

such as heart attacks, congestive heart failure. Thus the government is working very hard on

reducing the air pollution in California through various ways such as making such the

environment protection agency policies are followed such us funding of the diesel emission

reduction program that helps in replacing old diesels that are harmful to humans health.

2

Therefore California is one of the leading states with air pollution problems leading in

more health effects caused by air pollution such as worsened asthma and heart attacks. However,

the government is really working on it through funding programs such as the diesel emission

reduction program (Arya, 2009).

! 3

References

Arya, S. P. (2009). Air pollution meteorology and dispersion(Vol. 310). New York: Oxford

University Press.

Brunekreef, B., & Holgate, S. T. (2002). Air pollution and health. The lancet, 360(9341),

1233-1242.

Dockery, D. W., & Pope, C. A. (1994). Acute respiratory effects of particulate air

pollution. Annual review of public health, 15(1), 107-132.

Economic Analysis of Wetland Development best college essay help: best college essay help

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AN ECONOMIC ANALYSIS OF WETLAND DEVELOPMENT AND DEGRADATION 1

An Economic Analysis of Wetland Development and Degradation in the US

Student #2

California State University, Long Beach

ID #

ECONOMIC ANALYSIS OF WETLAND DEVELOPMENT AND DEGRADATION 2

Introduction

The United States has been experiencing substantial losses of wetlands for hundreds of

years. It has been estimated that over 220 million acres of wetlands existed in the lower 48 states

in the 1600’s. Since then, wetlands have been drained and filled in order to accommodate

infrastructure, agricultural land, water resource projects, housing developments, and other

various uses. Additionally, wetlands have been degraded and lost due to more indirect causes

such as pollution from various sources. The greatest rate of wetland loss occurred between the

1950’s and 1970’s. Although the passing of the Clean Water Act in 1972 in combination with

educational incentives has decreased the rate of loss, the United States continues to lose its

wetlands to both direct and indirect causes. Overdevelopment and degradation of wetlands in the

United States have led to a scarcity of wetlands as well as multiple negative externalities to

humans, wildlife, and the environment that are inaccurately or unaccounted for in development

projects. The existence of wetland scarcity as well as the negative externalities associated with

wetland development suggests a market failure, while the lack of success of current policies

suggests the need for alternative ways of correcting the failure.

Value of Wetlands

According to the US Environmental Protection Agency, wetlands are “areas where water

covers the soil, or is present either at or near the surface of the soil all year or for varying periods

of time during the year, including during the growing season”. They can be found both on the

coasts and inland on every continent except Antarctica. There are many types of wetlands, each

with their own unique vegetation, soil composition, water chemistry, and climate. Some common

types of wetlands include marshes, which can be found inland in arid and semiarid western

ECONOMIC ANALYSIS OF WETLAND DEVELOPMENT AND DEGRADATION 3

regions of the US, and bogs, which can be found in the northeastern and north central US. This

unique habitat provides many benefits and essential services to both wildlife and humans.

Wetlands are home to various species of birds, mammals, amphibians, insects, and plants,

making them one of the most productive ecosystems in the world. Because of their high

productivity, many birds depend on wetlands for food, shelter, nesting, and breeding. The

Belding’s Savannah Sparrow (Passerculus sandwichensis beldingi) is an endangered species that

is endemic to coastal salt marshes in Southern California (“Bolsa Chica Lowlands Restoration

Project”, 2009). This species resides in wetlands year-round, making it completely dependent on

this habitat. Similar to the Belding’s Savannah Sparrow, 138 species out of the 1,900 bird species

that breed in North America are considered to be wetland dependent (Stewart , “Wetlands as

Bird Habitat”, 2014). Migratory bird species such as pelicans, geese, and ducks may not live in

wetlands, but will often stop at wetlands during their migration to rest and eat, making this

habitat crucial to their survival. Many aquatic animals also depend on wetlands for food, shelter,

and reproductive purposes. Vegetation in wetlands provides protection for eggs and juvenile fish,

making them ideal habitats for spawning. Commercial fish such as striped bass (Morone

saxatilis) and even Chinook salmon (Oncorhynchus tshawytscha), generally considered to be the

most delicious salmon, often utilize wetlands to raise their young.

Humans also benefit from the many ecosystem services provided by wetlands. Because

wetlands are home to such a variety of plant and animal life, they are ideal locations for

recreational activities such as photography, hiking, fishing, hunting, and bird watching. These

direct market benefits have generated billions of dollars in the US. In 1995, the US EPA found

that Americans spent $59.5 billion annually on these activities (“America’s Wetlands: Our Vital

Link Between Land and Water”, 1995). This protective habitat also allows commercial fish and

ECONOMIC ANALYSIS OF WETLAND DEVELOPMENT AND DEGRADATION 4

shellfish to reproduce and grow in numbers before being caught for food. In 1991, Louisiana’s

coastal mashes produced an annual commercial fish and shellfish harvest worth $244 billion

(“America’s Wetlands: Our Vital Link Between Land and Water”, 1995). Animals valued for

their pelts such as beavers, mink, and alligators also depend on wetlands. Wetlands also create

indirect market benefits. Factors such as vegetation and microorganisms enable this habitat to

filter out sediment, trash, chemicals, and other harmful pollutants before they can reach open

waters or percolate into groundwater reservoirs. Wetlands are so efficient at filtering water that

in 1990, city managers in Phoenix, Arizona were able to meet wastewater treatment plant

standards by constructing a wetland system to clean discharge water (“Economic Benefits of

Wetlands”, 2006). The same vegetation that helps filter water also helps to reduce the impacts of

flooding and erosion. Roots from the multiple, diverse plants found in wetlands help to hold soil

in place while simultaneously absorbing excess water and distributing it across a larger area

before it can reach more heavily populated regions. A 2008 study found that in the US alone,

coastal wetlands provided $23.2 billion of storm protection services per year (Costanza, “The

Value of Coastal Wetlands for Hurricane Protection”, 2008).

In addition to its many use-values, wetlands also have several non-use values. Many

people derive benefit from simply knowing that wetlands exist, even if they will never visit or

utilize it in any way. This existence value is often joined by bequest value, in which people

derive benefit from preserving wetlands for future generations. Non-used values can be

measured through different methods. Stated preference survey methods such as contingent

valuation can assess an individual’s willingness to pay for a non-market good such as wetlands.

ECONOMIC ANALYSIS OF WETLAND DEVELOPMENT AND DEGRADATION 5

Current Policies

Congress passed the Clean Water Act in 1972 to address the public issue of water

pollution with the goal of restoring and maintaining waterways to be both fishable and

swimmable. Prior to the passing of this act, US waters were poorly maintained and water quality

was very low. Although many people know the Cuyahoga River in Ohio was so polluted with

flammable chemicals that it infamously caught on fire in 1969, many people do not know that it

had previously caught on fire at least 13 times since 1868. The Clean Water Act combines a

technology-based approach with a health-based approach to control the discharge of pollutants

into US waterways.

§301 of the Clean Water Act prohibits point sources from discharging pollutants into US

navigable waters unless a permit is obtained. Point sources are defined as “any discernible,

confined and discrete conveyance” and include virtually any man-made structures that discharge

pollutants such as pipes, ditches, and containers (“Clean Water Act, Section 502 General

Definitions”, 2012). Discharge of pollutants is further defined as “any addition of any pollutant

into navigable waters from any point source”. Although the definition of navigable waters is

often controversial, it is generally understood to be “waters that provide a channel for commerce

and transportation of people and goods (“Navigable Waters”). Wetlands, which may not always

be able to facilitate the transport of people and goods, are also generally considered to be

navigable waters if they are connected to more permanent water bodies that better fit the

traditional definition of navigable waters.

The protective powers of §301 are limited. Although §301 prevents the discharge of

pollutants from many factories, commercial facilities, sewage treatment plants, and other

potentially harmful facilities, agricultural institutions, activities associated with maintenance of

ECONOMIC ANALYSIS OF WETLAND DEVELOPMENT AND DEGRADATION 6

mining roads, and nonpoint sources are largely exempt. Wetlands are limited in their ability to

absorb and filter out water pollutants and can often be overwhelmed if too many pollutants are

introduced. Farmers discharge pesticides as well as excess nutrients in the form of animal waste

and fertilizers, while mining activities discharge sediment and heavy metals like mercury. These

pollutants can cause eutrophication and significant decreases in pH, which are major causes of

water quality degradation in wetlands (“Threats to Wetlands”, 2001). Other pollutants can enter

wetlands through runoff from nonpoint sources. Urban runoff is another major contributor to

wetland degradation. Pollutants from urban land, streets, and parking lots often collect in storm

sewers and find their way to wetlands and other water bodies. Another limit of §301 is its

arguable definition of “navigable waters”. Wetlands are generally considered to be navigable

waters if they are connected to more permanent water bodies. However, many people argue that

a chemical or biological connection to a permanent water body would also classify a wetland to

be a navigable waterway. The interpretation of wetlands being part of a navigable waterway is

subjective, and is often decided by a jury on a case-by-case basis.

§402 of the Clean Water Act establishes the National Pollutant Discharge Elimination

System (NPDES) permit program and regulates point sources by setting effluent limits on the

quantity, concentration, and rate of waste discharged. All point sources must have a NPDES

permit to legally discharge any pollutants. Under the NPDES permit, point sources must abide by

technology-based effluent limitations (TBELs) as well as water quality-based effluent limitations

(WQBELs). Both TBELs and WQBELs are set by the EPA and are based on availability and

efficiency of technology. Although the EPA does not have to consider costs when setting these

limitations, economic feasibility is often taken into account. Dischargers of conventional

pollutants like oil and grease are subject to a specific effluent guideline called best conventional

ECONOMIC ANALYSIS OF WETLAND DEVELOPMENT AND DEGRADATION 7

technology (BCT). Dischargers of nonconventional pollutants like heavy metals and toxic

substances are subject to a different effluent guideline called best available technology (BAT).

These limits are often given in mg/L over a certain amount of time. For example, a municipal

secondary treatment plant may have a TBEL requiring a 30-day average of no more than 30 mg

of total suspended solids per liter of waste discharged.

The protective powers of §402 are also limited. Companies that discharge waste into

navigable waterways are required to self-monitor and self-report their amounts of discharge since

the EPA and other regulating bodies are often too understaffed and underfunded to monitor

companies themselves. This allows polluting companies to exceed the limitations of their permits

while still going unnoticed by enforcement agencies. In 2004, the EPA assessed the water quality

of 29% of the total area of US wetlands and found that 30% of the assessed area was impaired

(“The National Water Quality Inventory: Report to Congress for the 2004 Reporting Cycle – A

Profile “, 2009). Although the total area assessed was only 29% of the total area of US wetlands,

the rest of US wetlands that were not assessed are likely to follow a similar, if not worse, trend.

This is because states have incentive to avoid declaring their waterways as impaired. Wetlands

and other navigable waters deemed to be impaired are subject to stricter, more costly health-

based standards. These standards set a limit on the daily numeric discharge of pollutants that are

found to impair a water body, and often require point sources to significantly reduce their

discharge.

§404 of the Clean Water Act prohibits the discharge of dredged or fill material in a

wetland without a permit from the US Army Corps of Engineers (USACE). A permit will not be

granted if a less damaging, practicable alternative exists or if the activity will significantly

degrade water quality. The USEPA and USACE can order any illegal development to be stopped

ECONOMIC ANALYSIS OF WETLAND DEVELOPMENT AND DEGRADATION 8

and can even order the site to be restored. Dredge or fill of a wetland without a permit or failure

to comply with the conditions agreed upon in a permit can also result in “civil penalties of up to

$16,000 per day of violation, with a maximum cap of $177,500 in any single enforcement

action” (“Section 404 Enforcement”, 2014).

The protective powers of §404 are significantly limited by voluntary lack of government

enforcement. USACE and USEPA prefer to solve §404 violations through voluntary compliance

rather than criminal enforcement. Because both regulatory groups have limited staff, time, and

funds, they tend to only enforce the most extreme cases. This allows large areas of wetlands to

be illegally developed and degraded without being noticed or enforced.

Market Failures

Normally, companies develop or pollute at the quantity where their private marginal costs

of development equal their private marginal benefits of development. However, development

and degradation of wetlands often results in various direct, unintentional, and uncompensated

negative effects to both humans and wildlife. These negative externalities range from extinction,

habitat loss and decreased reproductive success for the various species of birds, mammals,

amphibians, insects, and plants that depend on wetlands to flooding of nearby residential areas

during storms, increased prices of seafood, and even loss of revenue for businesses associated

with outdoor recreational activities. The federal Clean Water Act does not truly require

companies to take environmental negative externalities into consideration when developing

wetlands or discharging pollutants. This results in a market failure of overdevelopment and

excessive pollution of wetlands. Figure 1 shows that the marginal damage of wetland pollution

and development is upward sloping, meaning that each unit of pollution and degradation is more

damaging than the last. Common wetland pollutants such as heavy metals and excess nutrients

ECONOMIC ANALYSIS OF WETLAND DEVELOPMENT AND DEGRADATION 9

can be classified as flow pollutants because they can be absorbed by the environment. Therefore,

only the amount of discharge at a specific point in time is relevant. Development as a “pollutant”

of wetlands also behaves this way. The increasing marginal damage results in a new social

marginal cost curve with a different slope than the original private marginal cost curve. Figure 1

shows that the social optimal quantity is actually less than the private optimal quantity, and that a

loss of social surplus (deadweight loss) is incurred when polluting and developing at the private

optimal quantity.

Figure 1. Damages from Wetland Degradation and Development. This figure illustrates that development

at the private optimal level goes beyond what is truly optimal and results in a deadweight loss of social

surplus.

Polluting and developing at the social optimal quantity is more economically efficient

than polluting and developing at the private optimal quantity. Reducing pollution and

development to the social optimal quantity can help avoid damages as well as reduce deadweight

loss.

Corrective Future Policies

Future corrective policies will need to encourage pollution and development to occur at

social optimal quantities rather than private optimal quantities. However, real world factors also

ECONOMIC ANALYSIS OF WETLAND DEVELOPMENT AND DEGRADATION 10

need to be taken into consideration. As seen in the flaws of §402 and §404 of the Clean Water

Act, environmentally protective policies are often unenforced and environmental violations are

often unnoticed due to lack of staff and lack of funds. Simply passing more environmentally

protective laws and requiring companies to take environmental externalities into consideration

would not be a truly effective method to correct this market failure. Any future corrective

policies will have to be both enforceable and economically feasible.

A tax set at an appropriate level would not only reduce pollution and development to

social optimal quantities, but would also generate revenue to financially support better

enforcement of current and future protective laws. By setting a tax rate equal to the price

difference between the private marginal cost and social marginal cost at the social optimal

quantity and adding it to the original private marginal cost curve, Figure 2 shows that an

individual company would have the economic incentive to produce at the socially optimal

quantity. Figure 2 also shows that government revenue would be generated in this process, which

could then be used to fund better enforcement of policies.

Figure 2. Revenue from a Corrective Tax. This figure illustrates that an appropriate tax will result in degradation

and development at a social optimal quantity while also generating revenue.

ECONOMIC ANALYSIS OF WETLAND DEVELOPMENT AND DEGRADATION 11

Unfortunately, different companies will have different private marginal cost and private

marginal benefit curves, making it difficult to determine a single optimal tax rate for all wetland

polluters and developers. A tax set at an inappropriate rate can result in deadweight loss to

society or inadequate protection of wetlands. Future policymakers will need to take all these

factors into consideration when developing future rules and regulations.

Conclusion

US wetlands are an undervalued resource that benefits both humans and wildlife. While

providing crucial habitat to various species of birds, mammals, amphibians, insects, and plants,

they simultaneously reduce flooding damages, increase revenue from outdoor recreational

activities, and lower seafood prices. Because they provide these countless benefits, traditional

laws of supply and demand would expect pollution and development of wetlands to become

more expensive as they become scarcer. However, many of these benefits come free of charge,

leaving no direct price mechanism to signal wetland scarcity. This has historically created market

failures where companies polluted and developed more than was socially optimal. Although

current policies such as the Clean Water Act attempt to protect wetlands, they are often

unenforced and do not require any true environmental cost-benefit analysis. Wetlands in the US

are still currently being degraded and developed at an alarming rate, and future policies to protect

them must be both enforceable and economically feasible. Taxes provide the opportunity to

decrease degradation and development to socially optimal quantities while still generating

revenue that can be used to fund better enforcement. Although a tax on degradation and

development is not a perfect solution, it is a method that needs to be considered in the future.

ECONOMIC ANALYSIS OF WETLAND DEVELOPMENT AND DEGRADATION 12

References

America’s Wetlands: Our Vital Link Between Land and Water. (1995, January 1). Retrieved

April 20, 2015, from

http://water.epa.gov/type/wetlands/upload/2003_07_01_wetlands_vital_wetlands.pdf

Bolsa Chica Lowlands Restoration Project. (2009, January 1). Retrieved April 20, 2015, from

https://www.bolsachicarestoration.org/content.php?id=21#belding_s

Clean Water Act, Section 502 General Definitions. (2012, March 6). Retrieved April 20, 2015,

from http://water.epa.gov/lawsregs/guidance/wetlands/sec502.cfm

Costanza, R., Pérez-Maqueo, O., Martinez, M., Sutton, P., Anderson, S., & Mulder, K. (n.d.).

The Value of Coastal Wetlands for Hurricane Protection. AMBIO: A Journal of the

Human Environment, 241-248. Retrieved April 20, 2015, from

http://seagrant.noaa.gov/portals/0/documents/what_we_do/social_science/ss_tools_report

s/value_hurricane_protection.pdf

Economic Benefits of Wetlands. (2006, May 1). Retrieved April 20, 2015, from

http://water.epa.gov/type/wetlands/outreach/upload/EconomicBenefits.pdf

Navigable Waters. (n.d.) West’s Encyclopedia of American Law, edition 2. (2008). Retrieved

May 4 2015 from http://legal-dictionary.thefreedictionary.com/Navigable+Waters

Section 404 Enforcement. (2014, March 6). Retrieved May 15, 2015, from

http://water.epa.gov/type/wetlands/outreach/fact15.cfm

Stewart, R. (2014, March 18). Wetlands as Bird Habitat. Retrieved April 20, 2015, from

https://water.usgs.gov/nwsum/WSP2425/birdhabitat.html

The National Water Quality Inventory: Report to Congress for the 2004 Reporting Cycle – A

Profile. (2009). Retrieved May 11, 2015, from

ECONOMIC ANALYSIS OF WETLAND DEVELOPMENT AND DEGRADATION 13

http://water.epa.gov/lawsregs/guidance/cwa/305b/upload/2009_01_22_305b_2004report_

factsheet2004305b.pdf

Threats to Wetlands. (2001, September 1). Retrieved April 20, 2015, from

http://water.epa.gov/type/wetlands/outreach/upload/threats.pdf

What are Wetlands? (2012, October 9). Retrieved May 5, 2015, from

http://water.epa.gov/type/wetlands/what.cfm

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Contemporary issues in education essay help site:edu

 Case Study – Turn It Around!

Due Week 6 and worth 260 points

Review the case study in your online course shell titled “Turn It Around”, in which Dr. P. De Gogy, a newly hired superintendent of a small rural school district, must develop a plan to address and correct a myriad of issues and challenges within the district. Next, imagine that you are Dr. Gogy and are preparing to present the plan you have developed to the school board.

Part 1: Proposal Report

Write a three to five (3-5) page proposal report in which you:

Determine the main challenges that the Rocky Road School District is currently facing. Develop a three (3) year plan to address these challenges. Examine the actions you will take to address each of these challenges.
Identify the main resources that you will need in each of the following areas in order to implement the plan – economic, social / community, political, and staffing.
Take a position on whether or not it is feasible for you to turn this school district around within the length of your five (5) year contract. Provide support and a rationale for your position.
Use at least four (4) peer-reviewed academic resources in this assignment. Note: Wikipedia and many Websites do not qualify as academic resources. Peer-reviewed academic resources refer to articles and scholarly journals that are reviewed by a panel of experts or peers in the field. Review the video titled Research Starter: Finding Peer-Reviewed References for more information on obtaining peer-reviewed academic resources through your Blackboard course shell.

Part 2: PowerPoint Presentation

Create a ten to fifteen (10-15) slide PowerPoint Presentation in which you:

Summarize your response to Questions #1-3 in Part 1 of this assignment.
Narrate each slide, using a microphone, indicating what you would say if you were actually presenting in front of an audience.

Your assignment must follow these formatting requirements:

Present your plan using a presentation software tool with at least ten (10) content slides in your presentation.
Include a cover slide containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. Note: This slide does not count toward the ten to fifteen (10-15) slide requirement.
Include a References slide at the end of the presentation. References must be in APA format. Note: This slide does not count towards the ten to fifteen (10-15) slide requirement.
Develop a creative, appealing presentation for a professional audience, using two to three (2-3) colors, two to three (2-3) fonts, and two to three (2-3) visuals in your presentation.
Provide clear and thorough audio narration of the presentation slides as if you were delivering the speech. Note: If you do not have access to a microphone, then you should provide detailed speaker notes to accompany each slide that emphasize and embellish the key points in your presentation.
Check with your instructor for any additional requirements or specifications.

The specific course learning outcomes associated with this assignment are:

Analyze how educational theories and practices impact contemporary issues in education.
Survey and analyze issues facing the changing demographics of education.
Critique issues related to teaching, learning, and assessment within schools.
Analyze methods of the procurement, management and accountability of funding sources for schools.
Use technology and information resources to research contemporary issues in education.
Write clearly and concisely about contemporary issues in education using proper writing mechanics.

Doing a competitive market analysis essay help websites: essay help websites

Scenario: You have been given the responsibility of working with your organization’s CEO to do a competitive market analysis of the potential success of one of their existing products.

Research an organization and a product produced by that organization in which an analysis can be conducted.

Write a 500-word analysis of the current market conditions facing your product,  include graphs and charts showing knowledge of Cost Curves and make sure the following topics are addressed with specifc referencing to the product chosen:

Explain the factors that will affect demand, supply, and prices of that product.
Examine factors that will affect Total Revenue, including but not limited to:

-Price elasticity of demand
-Factors that influence productivity
-Various measures of costs, including opportunity costs
Externalities and government public policy and their effect on marginal revenue and marginal cost

Cite a minimum of  peer-reviewed sources from the University Library.

Format your paper consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

Purpose of Assignment

Students will develop cost curves on which firm behavior is based and will utilize these cost curves to determine the behavior of their chosen organization in the market served. Using the concept of comparative advantage, students analyze trade opportunities and use the model of supply and demand to explain factors that could affect demand, supply and prices. Students will determine various factors that could affect their organization’s total revenue and will recommend actions the firm could use to maximize their profit and their presence in the market served

Importance of Financial statements professional essay help: professional essay help

Financial statements are important because they are the means by which financial managers track their organizational performance, identify problems, and make corrective action. The most important financial statements are the balance sheet, income statement, and the cash-flow statement. Ratio analysis is the means by which we use information contained within these three reporting mechanisms to understand the dynamic interrelationships and make decisions.

A balance sheet is nothing more than a list of the accumulated assets and liabilities. The income statement tells us, “How did we do?” and the cash-flow statement tells us where our money went. Although each financial statement is a separate reporting tool, keep in mind that they that they are all related. The changes in assets and liabilities that you see on the balance sheet are also reflected in income statement. Cash flows provide more information about cash assets listed on a balance sheet and are related to, but not exactly the same thing as, the net income found on the income statement.

No single financial statement tells the complete story. The information contained in all of these statements is important to know; however they do not by themselves give us a full picture of what is going on. We need to be able to look at each of these documents within the context of each of the other statements. Understanding the interactions and performance according to the financial statements provides us with a retrospective of what has happened in the past. We can then use that information to extrapolate what we believe will happen in the future. It allows us to forecast and (if we do a good job understanding all the variables at play) make changes to achieve the organizations strategic aims. History is only helpful to the degree it allows us to understand our future.

Having a good forecast in place will make it possible to check our actual performance against our plan (remember the variance analysis that you did last week). You should also be able to figure out what went wrong and how to correct any problems.

To complete this Application Assignment, write a 2 page paper that provides a detailed explanation of each of the following four documents commonly found in financial reports. Provide examples of how these documents would be utilized by a health care manager.

Balance sheet
Income statement
Cash flow statement
Ratio analysis

Your written assignments must follow APA guidelines. Be sure to support your work with specific citations

Benefits that business events bring college admissions essay help

Using an example of a Business event:

1.    What benefits do business events bring to the visitor economy in both financial and non-financial terms?

2.    Discuss any issues impacting the business events sector.

3.    Referring to this week’s readings, identify ways in which the Business events sector will support the visitor economy in the future.

How metrics can improve managing your business essay help online: essay help online

You are the manager of a retail store. You want to investigate how metrics can improve the way you manage your business.Use the Week 5 Data Set to create and calculate the following in Excel®:Conduct a goodness of fit analysis which assesses orders of a specific item by size and items you received by size.Conduct a hypothesis test with the objective of determining if there is a difference between what you ordered and what you received at the .05 level of significance.   Identify the null and alternative hypotheses.Generate a scatter plot, the correlation coefficient, and the linear equation that evaluates whether a relationship exists between the number of times a customer visited the store in the past 6 months and the total amount of money the customer spent.Set up a hypothesis test to evaluate the strength of the relationship between the two variables.Use a level of significance of .05.Use the regression line formula to forecast how much a customer might spend on merchandise if that customer visited the store 13 times in a 6 month period. Consider the average monthly sales of 2014, $1310, as your base to:Calculate indices for each month for the next two years. Graph a time series plot.In the Data Analysis Toolpak, use Excel’s Exponential Smoothing option.Apply a damping factor of .5, to your monthly sales data. Create a new time series graph that compares the original and the revised monthly sales data

Brief overview about the economy in Oman argumentative essay help

I want to write a brief overview about the economy in Oman, making a small comparison between 2018 and 2017. If there is a significant change please mention the reason. For example the Natural gas showed a 100% change and this is because Oman discovered a new gas field which is Mabrouk  Khazzan.

I have attached the Omani Data, the screenshot is the way of writing the overview and you could do the same thing to this overview.

I want to start the outlook in general and then go later into details in each sector.

The marginal rate of substitution college essay help

What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitutes one product for another? Use examples to illustrate.

Guided Response: In 300 words or more, please, provide your response to the above discussion question. Find two goods from your own consumption basket and explain how the MRS changes for the two products as you substitute one for the other.

Explore and Propose a Resolution rice supplement essay help: rice supplement essay help

Students will submit a 300 word minimum Outline Draft of the Final Exam Topic Focus. Topics will be assigned the first day of class.

Final Exam

Purpose of Assignment

This week requires the student to incorporate

all Economic Competencies discovered during the duration of the

course. Students will be assigned a Subject Matter during week one in

class and will have the duration of the course to complete the task.

Students will discuss the current condition and offer an alternative solution

Which include transitional process as well as new regulations and potential

unintended consequences with externalities.

Instructions:

Scenario: Explore and Propose a Resolution for One of the Following

Topics:

Subject Matters include the following MicroEconomic Issues:

• Traffic

Prepare a 2000 word paper with the goal of including all course

competencies to defend your choice and focus.

Cite a minimum 1 source from the University of Phoenix Library and 2

additional reputable sources which may include the course text.

Format consistent with APA guidelines.

Assignment on an Economic Brief essay help writing

Economic Brief

Title

By Your Name

ECO100

Professor’s Name

Date

Economic Brief

Title

(Enter your introduction text here. It should be no more than a paragraph or two. Please erase these instructions before submitting your paper.)

Industry Goods and Services

(In this section you should describe the goods and/or services produced by an industry that you pick from this list from the North American Industry Classification System. Please delete these instructions before submitting your paper.)

Market Structure and Characteristics

(Your text here should identify this industry’s market structure and two or more market characteristics. ​Please delete these instructions before submitting your paper.)

Microeconomic Relationships, Market Outcomes, and/or Trends

(In this section you should discuss ONE of these items as it relates to this industry: a notable microeconomic relationship, a market outcome, or a trend in the industry. Include a graph, table, or chart if possible. Delete these instructions before submitting your paper.)

How Government Intervention May Impact the Industry

(Your text here should explain how government intervention might impact this industry’s market prices, output, and / or market structure. Please delete these instructions before submitting your paper.)

Sources

1. List in order of use.

2. List a second source here if used.

3. Repeat for additional sources.

2

Offering higher levels of satisfaction write my essay help: write my essay help

I would like you to find a company that has a clear understanding of the factors they are focusing on offering higher levels of satisfaction, compared to the alternatives. Meaning, Blue Ocean companies tend to communicate the factors they aim to be exceptional at, compared to the alternatives. For example, Starbucks is about “the experience,” Apple is about simple, easy to use interface, BMW is about affordable sports luxury, etc. Share the name of the company, and the specific area of value that is exceptionally useful to their target audience.

It can be about 200 words.

Competition Is for Losers Essay compare and contrast essay help: compare and contrast essay help

Competition Is for Losers If you want to create and capture lasting value, look to build a monopoly, writes Peter Thiel

! Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. JAVIER JAÉN By PETER THIEL Sept. 12, 2014 WSJ What valuable company is nobody building? This question is harder than it looks, because your company could create a lot of value without becoming very valuable itself. Creating value isn’t enough—you also need to capture some of the value you create. This means that even very big businesses can be bad businesses. For example, U.S. airline companies serve millions of passengers and create hundreds of billions of dollars of value each year. But in 2012, when the average airfare each way was $178, the airlines made only 37 cents per passenger trip. Compare them to Google , which creates less value but captures far more. Google brought in $50 billion in 2012 (versus $160 billion for the airlines), but it kept 21% of those revenues as

profits—more than 100 times the airline industry’s profit margin that year. Google makes so much money that it is now worth three times more than every U.S. airline combined. The airlines compete with each other, but Google stands alone. Economists use two simplified models to explain the difference: perfect competition and monopoly.

Monopolies are a good thing for society, venture capitalist Peter Thiel argues in an essay on WSJ. The PayPal co-founder joins Sara Murray to discuss his business philosophy, his take on Apple Pay, and what’s a deal breaker in pitch meetings. “Perfect competition” is considered both the ideal and the default state in Economics 101. So-called perfectly competitive markets achieve equilibrium when producer supply meets consumer demand. Every firm in a competitive market is undifferentiated and sells the same homogeneous products. Since no firm has any market power, they must all sell at whatever price the market determines. If there is money to be made, new firms will enter the market, increase supply, drive prices down and thereby eliminate the profits that attracted them in the first place. If too many firms enter the market, they’ll suffer losses, some will fold, and prices will rise back to sustainable levels. Under perfect competition, in the long run no company makes an economic profit. The opposite of perfect competition is monopoly. Whereas a competitive firm must sell at the market price, a monopoly owns its market, so it can set its own prices. Since it has no competition, it produces at the quantity and price combination that maximizes its profits. To an economist, every monopoly looks the same, whether it deviously eliminates rivals,

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secures a license from the state or innovates its way to the top. I’m not interested in illegal bullies or government favorites: By “monopoly,” I mean the kind of company that is so good at what it does that no other firm can offer a close substitute. Google is a good example of a company that went from 0 to 1: It hasn’t competed in search since the early 2000s, when it definitively distanced itself from Microsoft and Yahoo! Americans mythologize competition and credit it with saving us from socialist bread lines. Actually, capitalism and competition are opposites. Capitalism is premised on the accumulation of capital, but under perfect competition, all profits get competed away. The lesson for entrepreneurs is clear: If you want to create and capture lasting value, don’t build an undifferentiated commodity business. How much of the world is actually monopolistic? How much is truly competitive? It is hard to say because our common conversation about these matters is so confused. To the outside observer, all businesses can seem reasonably alike, so it is easy to perceive only small differences between them. But the reality is much more binary than that. There is an enormous difference between perfect competition and monopoly, and most businesses are much closer to one extreme than we commonly realize. The confusion comes from a universal bias for describing market conditions in self- serving ways: Both monopolists and competitors are incentivized to bend the truth. Monopolists lie to protect themselves. They know that bragging about their great monopoly invites being audited, scrutinized and attacked. Since they very much want their monopoly profits to continue unmolested, they tend to do whatever they can to conceal

their monopoly—usually by exaggerating the power of their (nonexistent) competition.

! Google makes so much money that it is now worth three times more than every U.S. airline combined. ASSOCIATED PRESS Think about how Google talks about its business. It certainly doesn’t claim to be a monopoly. But is it one? Well, it depends: a monopoly in what? Let’s say that Google is primarily a search engine. As of May 2014, it owns about 68% of the search market. (Its closest competitors, Microsoft and Yahoo! , have about 19% and 10%, respectively.) If that doesn’t seem dominant enough, consider the fact that the word “google” is now an official entry in the Oxford English Dictionary—as a verb. Don’t hold your breath waiting for that to happen to Bing. But suppose we say that Google is primarily an advertising company. That changes things. The U.S. search-engine advertising market is $17 billion annually. Online advertising is $37 billion annually. The entire U.S. advertising market is $150 billion. And global advertising is a $495 billion market. So even if Google completely monopolized U.S. search-engine advertising, it would own just 3.4% of the global advertising market. From this angle, Google looks like a small player in a competitive world. What if we frame Google as a multifaceted technology company instead? This seems reasonable enough; in addition to its search

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engine, Google makes dozens of other software products, not to mention robotic cars, Android phones and wearable computers. But 95% of Google’s revenue comes from search advertising; its other products generated just $2.35 billion in 2012 and its consumer-tech products a mere fraction of that. Since consumer tech is a $964 billion market globally, Google owns less than 0.24% of it—a far cry from relevance, let alone monopoly. Framing itself as just another tech company allows Google to escape all sorts of unwanted attention. Non-monopolists tell the opposite lie: “We’re in a league of our own.” Entrepreneurs are always biased to understate the scale of competition, but that is the biggest mistake a startup can make. The fatal temptation is to describe your market extremely narrowly so that you dominate it by definition. Suppose you want to start a restaurant in Palo Alto that serves British food. “No one else is doing it,” you might reason. “We’ll own the entire market.” But that is only true if the relevant market is the market for British food specifically. What if the actual market is the Palo Alto restaurant market in general? And what if all the restaurants in nearby towns are part of the relevant market as well? These are hard questions, but the bigger problem is that you have an incentive not to ask them at all. When you hear that most new restaurants fail within one or two years, your instinct will be to come up with a story about how yours is different. You’ll spend time trying to convince people that you are exceptional instead of seriously considering whether that is true. It would be better to pause and consider whether there are people in Palo Alto who would rather eat British food above all else. They may well not exist. In 2001, my co-workers at PayPal and I would often get lunch on Castro Street in

Mountain View, Calif. We had our pick of restaurants, starting with obvious categories like Indian, sushi and burgers. There were more options once we settled on a type: North Indian or South Indian, cheaper or fancier, and so on. In contrast to the competitive local restaurant market, PayPal was then the only email-based payments company in the world. We employed fewer people than the restaurants on Castro Street did, but our business was much more valuable than all those restaurants combined. Starting a new South Indian restaurant is a really hard way to make money. If you lose sight of competitive reality and focus on trivial differentiating factors—maybe you think your naan is superior because of your great-grandmother’s recipe—your business is unlikely to survive. The problem with a competitive business goes beyond lack of profits. Imagine you’re running one of those restaurants in Mountain View. You’re not that different from dozens of your competitors, so you’ve got to fight hard to survive. If you offer affordable food with low margins, you can probably pay employees only minimum wage. And you’ll need to squeeze out every efficiency: That is why small restaurants put Grandma to work at the register and make the kids wash dishes in the back. A monopoly like Google is different. Since it doesn’t have to worry about competing with anyone, it has wider latitude to care about its workers, its products and its impact on the wider world. Google’s motto—”Don’t be evil”—is in part a branding ploy, but it is also characteristic of a kind of business that is successful enough to take ethics seriously without jeopardizing its own existence. In business, money is either an important thing or it is everything. Monopolists can afford to think about things other than making money; non-monopolists can’t. In perfect competition,

a business is so focused on today’s margins that it can’t possibly plan for a long-term future. Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits. So a monopoly is good for everyone on the inside, but what about everyone on the outside? Do outsize profits come at the expense of the rest of society? Actually, yes: Profits come out of customers’ wallets, and monopolies deserve their bad reputation—but only in a world where nothing changes. In a static world, a monopolist is just a rent collector. If you corner the market for something, you can jack up the price; others will have no choice but to buy from you. Think of the famous board game: Deeds are shuffled around from player to player, but the board never changes. There is no way to win by inventing a better kind of real-estate development. The relative values of the properties are fixed for all time, so all you can do is try to buy them up. But the world we live in is dynamic: We can invent new and better things. Creative monopolists give customers more choices by adding entirely new categories of abundance to the world. Creative monopolies aren’t just good for the rest of society; they’re powerful engines for making it better. Even the government knows this: That is why one of its departments works hard to create monopolies (by granting patents to new inventions) even though another part hunts them down (by prosecuting antitrust cases). It is possible to question whether anyone should really be awarded a monopoly simply for having been the first to think of something like a mobile software design. But something like Apple ‘s monopoly profits from designing, producing and marketing the iPhone were clearly the reward for creating greater abundance, not artificial scarcity:

Customers were happy to finally have the choice of paying high prices to get a smartphone that actually works. The dynamism of new monopolies itself explains why old monopolies don’t strangle innovation. With Apple’s iOS at the forefront, the rise of mobile computing has dramatically reduced Microsoft’s decadeslong operating system dominance. Before that, IBM ‘s hardware monopoly of the 1960s and ’70s was overtaken by Microsoft’s software monopoly. AT&T had a monopoly on telephone service for most of the 20th century, but now anyone can get a cheap cellphone plan from any number of providers. If the tendency of monopoly businesses was to hold back progress, they would be dangerous, and we’d be right to oppose them. But the history of progress is a history of better monopoly businesses replacing incumbents. Monopolies drive progress because the promise of years or even decades of monopoly profits provides a powerful incentive to innovate. Then monopolies can keep innovating because profits enable them to make the long-term plans and finance the ambitious research projects that firms locked in competition can’t dream of. So why are economists obsessed with competition as an ideal state? It is a relic of history. Economists copied their mathematics from the work of 19th-century physicists: They see individuals and businesses as interchangeable atoms, not as unique creators. Their theories describe an equilibrium state of perfect competition because that is what’s easy to model, not because it represents the best of business. But the long-run equilibrium predicted by 19th-century physics was a state in which all energy is evenly distributed and everything comes to rest—also known as the heat death of the universe. Whatever your views on thermodynamics, it is a powerful

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metaphor. In business, equilibrium means stasis, and stasis means death. If your industry is in a competitive equilibrium, the death of your business won’t matter to the world; some other undifferentiated competitor will always be ready to take your place. Perfect equilibrium may describe the void that is most of the universe. It may even characterize many businesses. But every new creation takes place far from equilibrium. In the real world outside economic theory, every business is successful exactly to the extent that it does something others cannot. Monopoly is therefore not a pathology or an exception. Monopoly is the condition of every successful business. Tolstoy famously opens “Anna Karenina” by observing: “All happy families are alike; each unhappy family is unhappy in its own way.” Business is the opposite. All happy companies are different: Each one earns a monopoly by solving a unique problem. All failed companies are the same: They failed to escape competition. Adapted from Mr. Thiel’s new book, with Blake Masters, “Zero to One: Notes on Startups, or How to Build the Future,” which will be published by Crown Business on Sept. 16. Mr. Thiel co-founded PayPal and Palantir and made the first outside investment in Facebook.

Wal-Mart Ratchets Up Pressure on Suppliers mba essay help

Wal-Mart Ratchets Up Pressure on Suppliers to Cut Prices Retailer urges them to pull back on joint- marketing efforts to bring cost down

! With the growth of dollar stores and other discounters, Wal-Mart is facing ever more competition on price, which for many customers is the most important selling point. PHOTO: JOE RAEDLE/GETTY IMAGES By PAUL ZIOBRO and SERENA NG March 31, 2015 WSJ Wal-Mart Stores Inc. is increasing the pressure on suppliers to cut the cost of their products, in an effort to regain the mantle of low-price leader and turn around its sluggish U.S. sales. The retailing behemoth says it has been telling suppliers to forgo investments in joint marketing with the retailer and plow the savings into lower prices instead. Makers of branded consumer products from diapers to yogurt typically earmark a portion of their budgets for marketing with Wal- Mart, spending on things like eye-catching product displays and online advertisements. Wal-Mart has long had a reputation for pressing its suppliers to cut costs to help lower prices, but the retailer’s new leadership has embraced the concept with fresh vigor. Wal-Mart’s price advantage against its competitors has been eroded, and it has steadily been losing market share in the U.S. since the recession ended, while rivals including Kroger Co. and Costco Wholesale Corp. gained share, according to data from the consultancy Kantar Retail. With the growth of dollar stores and other discounters, Wal-Mart is facing ever more competition on price, which for many customers is the most important selling point. The new dictate on prices is creating tension with companies that supply the hundreds of thousands of products on Wal-Mart’s shelves.

While lowering prices by shaving down marketing budgets may help Wal-Mart draw more customers, it gives suppliers less control over how their products are displayed or promoted, and less ability to make them stand out against store brands or other rivals. That is an issue when Wal- Mart and other chains are trumpeting their private-label house brands. The zeal on pricing is part of a push by new Chief Executive Doug McMillon and U.S. head Greg Foran to turn around Wal-Mart’s core domestic business, which booked $288 billion in sales in the year ended Jan. 31, 60% of the company’s total. While U.S. sales were up 3% last year, the growth was a scant 0.5% excluding newly opened stores, and the division’s profit fell. With the heavy investments related to its promise to raise wages and the development of a vast e- commerce business, Wal-Mart has fewer options for chipping away at costs, putting suppliers in the cross hairs. ‘They kept pushing, ‘We’re going back to basics, it’s all about low pricing.’’ —A supplier who attended February meeting Messrs. Foran and McMillon laid out the pricing message during a private meeting with suppliers in February. They want suppliers to operate with the same everyday low cost model that Wal-Mart employs from top to bottom. “They kept pushing, ‘We’re going back to basics, it’s all about low pricing,’ ” said one supplier who attended the meeting. Mr. Foran, who became president and CEO of Wal-Mart’s U.S. business in August after leading the Asia division, plans to address Wall Street analysts Wednesday to lay out in more detail his plans for the U.S. business. Financial arrangements between suppliers and big retailers aren’t just a matter of coming to terms on volumes and a wholesale price. They often also bundle in a host of extras including slotting fees, funds for special promotional discounts and money to pay for shared marketing. The latter is particularly important for makers of branded consumer goods. “We want to get back to a point where we are playing offense with price because of the way we go to market,” Mr. McMillon said, according to a transcript. “Our pricing strategy is aimed at one objective, and that is building trust.” The effort to get suppliers to reallocate the marketing investments reinforces the company’s long-standing business strategy to keep costs low, said Deisha Barnett, a Wal-Mart spokeswoman.

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“It’s a proven business model that works,” she said. “We think the smart investment is to put the dollars into price.” Former Wal-Mart employee Derek Ridenoure now works at C.F. Sauer Co., a company that supplies the retailer with spices, seasoning mixes and other packaged food products. He said a team at Wal-Mart closely monitors commodity prices and asks suppliers to reduce costs when it observes downward trends in ingredients prices. After a long slide left soybean prices at a multiyear low recently, the retailer asked Mr. Ridenoure this year to cut his prices. Soybean oil is a key ingredient in many condiments made by C.F. Sauer.

! Wal-Mart’s U.S. division is in the early stages of a turnaround, having just posted two straight quarters of positive same-store sales after a long slump. Low gasoline prices have helped. PHOTO: JOE RAEDLE/GETTY IMAGES “I pushed back initially,” Mr. Ridenoure said, reasoning that soybean prices could march higher if farmers switched to other crops. Wal-Mart’s response was that if soybean prices marched higher, suppliers could take their prices up again. Mr. Ridenoure’s company ultimately agreed to cut costs by giving discounts for bigger orders. Recently, in what was widely seen as a move to pressure Procter & Gamble Co. to lower prices of its popular Tide detergent, Wal-Mart struck a deal with consumer products company Henkel AG to introduce a new premium-priced detergent brand, Persil, exclusively in its stores. Wal-Mart is selling Persil at the same price as Tide, and displaying it on shelves next to Tide. Ms. Barnett said Wal-Mart decided to start selling Persil in the U.S. to broaden the assortment in its laundry aisle. A P&G spokesman declined to comment about its relationship with Wal-Mart,

but said the company welcomes competition in the detergent business. Wal-Mart’s U.S. division is in the early stages of a turnaround, having just posted two straight quarters of positive same-store sales after a long slump. Executives at the retailer have attributed part of the increase to falling gasoline prices, which have led some shoppers to spend more and to make the longer drive to the stores. The gains are tenuous, however, and Mr. Foran has been meeting with former executives to understand what gave the retailer an edge during its heyday. The native New Zealander is a devotee of former Wal-Mart executive and board member Jack Shewmaker, who developed the company’s everyday-low- price strategy and died in 2010.

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Superheroes riding a Marvelous wave essay help tips: essay help tips

Superheroes riding a Marvel-ous wave at the box office Scott Bowles and Brian Truitt, USA TODAY April 13, 2014

! There was a time, legend has it, when only two men seemed suited to police the planet. Or at least Hollywood’s world. Lantern-jawed, darkly handsome and fond of the American way of life, Superman and Batman had much in common despite hailing from different planets. Both were born in the 1930s, dominated theaters and television and even shared a New York mailing address: the headquarters of DC Comics. But in 2000, a new strain of hero — a mutant strain — entered the big-screen spandex fray. X-Men, about an academy for social outcasts with superpowers, collected an astounding $157 million at the box office, introduced an Aussie named Hugh Jackman and made the fledgling Marvel Studios a sudden player in comic-book movies. Just 14 years later, Marvel has taken on a new identity, as the industry’s most bankable studio for live-action hits. Its most recent film, Captain America: The Winter Soldier, nabbed a $95 million opening earlier this month, the largest debut in April ever, then claimed a second straight week at No. 1, collecting $159 million in just 10 days. Most of Marvel’s soldiers are warriors. Of the 33 movies featuring Marvel characters, each averaged $184 million domestically and $410 million worldwide. The Avengers collected $623 million domestically in 2012, the third- highest-grossing film ever. That success has been spread over more than a dozen characters and teams, from Spider-Man to Thor to the Fantastic Four. And with the exception of a couple of turkeys such as Elektra and The Punisher, Marvel’s unprecedented cross-promotional strategy of having superheroes do guest spots in each others’ movies has helped it claim seven of the 10 top-grossing comic-book flicks of all-time. In the process, Marvel has changed how Hollywood and moviegoers view comic-book films, which have morphed

from camp escapism to Oscar contention — and box-office domination. “We are in a post-book era,” says Wheeler Winston Dixon, a professor of film studies at the University of Nebraska in Lincoln, who teaches a course on comic-book movies.

“We don’t read books or magazines much, and newspapers are hanging on by a thread,” he says. “But people are connecting with these movies more than they used to. Characters have back stories. Spider-Man is concerned with the same issues as his target audience.” Super formula for success Marvel has come up with a strategy rooted in the three R’s of blockbuster-building: relatable characters, risky casting and really big budgets. The strategy: • Don’t skimp on the cash. Blade, Wesley Snipes’ film about a relatively obscure half-vampire, half-mortal, was

considered a pricey gamble at $45 million — until it collected $70 million. Marvel has never cut corners: The studio coughed up $170 million for Winter Soldier and $220 million for The Avengers.

The cash has been put to good use. “They have mastered 3-D for these movies,” Dixon says. Movies in 3-D “used to look like pop-up books. Now the depth is stunning.” • Go for actors, not action heroes. From Robert Downey Jr. as Iron Man to Jackman as X-Men’s Wolverine to

Robert Redford as Winter Soldier villain Alexander Pierce, Marvel has earned a reputation as a studio that can stun — and occasionally infuriate — comics devotees with star choices. But fans usually come around.

“Casting the movie is the most important thing — actors, directors, cinematographers,” says Marvel Studios president Kevin Feige. “It’s putting that team in place to bring the movie to life in a way it can be and should be. That’s always the hardest part. My anxiety level plummets when you get closer to the first day of shooting because we’re looking pretty good at that point.” • Even heroes need hang-ups. “If you look at what Marvel is doing, they’ve taken superheroes and made them

human,” says Anthony Mackie, who plays Sam Wilson, aka Falcon, in Winter Solder. He says Marvel has made its heroes, even those that fly or shoot webs, “relatable, given them a sense of dignity and pride that’s not so far off that you can’t relate to them.”

Mackie says the Marvel universe has many characters not simply waging battles of “good against evil, but fighting for the betterment of man. We can all relate to that.” Ultimate studio clash ahead? Competing studios are relating to the millions Marvel is raking in, and the competition for young dollars is fierce. Pixar Studios, which tends to draw younger kids, has the industry’s most impressive winning streak, with 14 straight No. 1 movies, averaging $253 million apiece. And DC Comics, whose stable includes Batman, Superman and The Justice League, is no slouch. Its heroes have appeared in 25 movies, averaging $133 million each. Analysts are salivating at the inevitable comics showdown. Already, the two are pitted against one another on May

6, 2016, when Captain America 3, distributed by Disney, is scheduled to open against the highly anticipated Batman vs. Superman, released by Warner Bros.

Neither studio is commenting on strategy, though neither has announced plans to blink. “You figure that someone will have to move, because they’ll cannibalize some business from each other,” says Jeff Bock, senior box-office analyst at Exhibitor Relations. “But it shows you how powerful this genre has become.” And with power comes a great many sequels. Marvel has on tap The Amazing Spider-Man 2 on May 2, X-Men Days of Future Past on May 23, and an Avengers sequel, Age of Ultron, due May 1, 2015. The studio also plans to launch a new superhero team franchise with Guardians of the Galaxy, out Aug. 1. While experts don’t expect the tide of superhero films to fade, the movies could follow a path similar to that of the comic books. Analysts expect a few developments: • Heroes who die. Comic-book heroes die all the time and are brought back to life. “Killing off a hero is completely

possible,” says Caleb Williams, editor-in-chief and founder of the website Superhero Movie News. “Marvel is not afraid to take risks.”

• Spider-Man against The Hulk? The Batman vs. Superman project and The Avengers may be the start of crossover films if studios can negotiate rights. “Who says X-Men can’t fight Avengers?” Bock says. “With this much money at stake, you know the brain trust is trying to figure a way.”

• Oscar-worthy films. Heath Ledger already won the first acting Oscar for a comic-book role, as the Joker in the 2008 Batman movie, The Dark Knight. Could a best picture be far off?

“These have become the classic myths of our times,” Dixon says. “They’re bigger than the comic books themselves. They are the future.”

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Problem solving Using the Marginal Approach admission essay help

WEEK 5 PROBLEM SET Due week 5 and worth 200 points. You will submit your answers in a Blackboard assessment filling out charts and answering the essays/short answer questions. Note: There is not an option to upload your assignment, you must use the Blackboard assessment; however, you will be able to copy and paste your answers from a Word document.

Problem 1: Using the Marginal Approach Suppose your company runs a shuttle business of a hotel to and from the local airport. The costs for different customer loads are: 1 customer: $30 2 customers: $32 3 customers: $35 4 customers: $38 5 customers: $42 6 customers: $48 7 customers: $57 8 customers: $68.

1. What are your marginal costs for each customer load level? (Chart) 2. If you are compensated $10 per ride, what customer load would you choose? (Essay)

Problem 2: Elasticity and Pricing Suppose the number of firms you compete with has recently increased. You estimated that as a result of the increased competition, the demand elasticity has increased from –2 to –3, i.e., you face more elastic demand. You are currently charging $10 for your product. What is the price that you should charge, if demand elasticity is -3? (Essay)

Problem 3: Price Discrimination An amusement park, whose customer set is made up of two markets, adults and children, has developed demand schedules as follows:

Price ($)

Quantity

Adults Children

5 15 20

6 14 18

7 13 16

8 12 14

9 11 12

10 10 10

11 9 8

12 8 6

13 7 4

14 6 2

The marginal operating cost of each unit of quantity is $5. Because marginal cost is a constant, so is average variable cost. Ignore fixed costs. The owners of the amusement part want to maximize profits. Calculate the price, quantity, and profit if:

1. The amusement park charges a different price for adults. (Chart) 2. The amusement park charges a different price for children. (Chart) 3. The amusement park charges the same price in the two markets combined. (Chart) 4. Explain the difference in the profit realized under the two situations. (Essay)

Problem 4: Bundling Time Warner could offer the History Channel (H) and Showtime (S) individually or as a bundle of both. Suppose the reservation prices of customers 1 and 2 (the highest prices they are willing to pay) are presented in the boxes below. The cost to Time Warner is $1 per customer for licensing fees. Preferences

Showtime History Chanel

Customer 1 9 2

Customer 2 3 8

1. Should Time Warner bundle or sell separately? (Essay) 2. Should Time Warner bundle if everyone likes Showtime more than the History Channel, i.e.,

preferences are positively correlated. (Essay) 3. Suppose Time Warner could sell Showtime for $9, and History channel for $8, while making

Showtime-History bundle available for $13. Should it use mixed bundling. i.e., sells products both separately and as a bundle? (Essay)