3 Discussions
Need initial Post of 200 words each for all three Discussions. I also need 2 replies each for each discussions. I will post the replies later when become available. Initial posts due in 24 hours. No Plagiarism.
Module 6 Discussion
Contains unread posts
After watching the video clip from Forrest Gump, consider that Forrest’s good luck of “being in the right place at the right time” allowed him to operate as a monopoly. Typically, the fishing industry is a highly competitive industry where economic profits are rarely made in the long run. However, in a twist of fate, Forrest’s boat is the lone survivor after a hurricane washes ashore and destroys all the other shrimp boats.
Consider the barriers to entry facing potential competitors in Forrest’s monopoly market. The more contestable a market, the closer it will be to a perfectly competitive market, whereas the less contestable a market, the closer it will be to a monopoly.
What barriers to entry exist in other industries that allow certain firms to operate as a monopoly? Are these barriers contestable?
Module 7 Discussion
Contains unread posts
Search the web and view the video clip Golden Balls – £100,000 Split Or Steal? 14/03/08.
After watching the video clip, answer the following questions:
· How does the Prisoners’ Dilemma apply in the game of Golden Balls?
· Is the Prisoner’s Dilemma entirely applicable in this game? Why or why not?
· What would you do if you were playing this game? Explain your reasoning.
|
Module 8 Discussion
Contains unread posts After watching the video clip from The Corporation, consider that labor is a derived demand. What forces are at work demanding low-skilled labor in the developing world? What could a country do to improve the types of skills demanded of its labor? |
Dakota Smith
Contains unread posts
Dakota Smith posted Aug 17, 2020 12:00 AM
Subscribe
Labor is a derived demand. Low paying jobs are at work demanding low-skilled labor. You have to compete with other countries to provide low labor costs. Therefore you cannot pay somebody a higher wage because then you would have to raise your prices in turn reducing your profits. Whichever country can provide the lower wages you can outsource to that country. Countries can try to prevent this by putting tariffs on those companies that try to outsource. Another thing countries can do is encourage its citizens to get the skills to earn higher wages. They can make sure there are plenty of high paying jobs in the fields that require more skills. A good example of that is how the government tries to push out STEM majors because they are higher paying jobs that require more skill that will make our economy more productive and become a bigger economy for it. Another example would be the trades. You have higher wages in those jobs because there are not enough of a labor force supply to meet the demand. To counter this a country can provide opportunities for high school students to go to a vocational school to try to see if they are interested in a trade. Another option is to provide the training at a low cost, make it feasible for people to gain these skills. It is in a countries best interest to have the labor supply to be in equilibrium with the labor demand of certain sectors, while also implementing tariffs and other taxes on outsourcing. This is the way to create an efficient economy.
Discussion
Contains unread posts
Brenda Sutton Sutton posted Aug 13, 2020 4:11 AM
Subscribe
What forces are at work demanding low-skilled labor in the developing world? A labor problem that people face by wage-earners and employers are affect from cut wages, various other reason. There are four labor workforce Professional, Semi Killed, Unskilled and Skilled labor consists of work primarily with their hands, can operate basic equipment like floor polishers, dishwashers, etc. What could a country do to improve the types of skills demanded of its labor? Labor represents goods and services in the economy to provide the right skills to meet the increasing demands. Other factors that can influence international marketing is age, population and education levels.