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ECO 365 Week 5 Learning Team Competitive Strategies and Government Policies NEW
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ECO 365 Week 5 Knowledge Check NEW
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1. What problem do economists see with free trade areas such as NAFTA and the European Union?
A. They tend to lead to free trade rather than fair trade.
B. They can lead to regional trading blocs then restrict trade.
C. They lead to globalization.
D. They encourage countries to rely on others rather than being self-sufficient.
- A group of countries that allows free trade among its members and puts up common barriers against all other countries’ goods is called
A. a tariff-free zone
B. a most-favored nation agreement
C. an autarky
D. a free trade association
- Mexico has a comparative advantage in producing corn
A. if its opportunity cost of producing corn is higher than the opportunity cost in other countries
B. if its opportunity cost of producing corn is the same as the opportunity cost in other countries
C. if its opportunity cost of producing corn is lower than opportunity cost in other countries
D. regardless of the opportunity cost in other countries
- Workers in education, health care, and government sectors have
A. seen their incomes fall just like in manufacturing
B. been mostly hurt from globalization
C. benefited from globalization in terms of lower consumer prices
D. been hurt because the sector has been shrinking
- In the United States globalization has
A. played a significant role in growing income disparity because some sectors have benefited and others have not
B. played little role in growing income disparity because all Americans are consumers who have enjoyed lower prices
C. played a significant role in growing income disparity because foreign workers’ incomes have risen
D. played little role in growing income disparity because while some jobs were lost, the gain in jobs balanced out those that were lost
- Most economists
A. oppose free trade
B. favor free trade
C. have no opinion on free trade
D. would prefer to have no trade with other nations
- World trade declined in the 1930s. Which of the following is the best explanation of that decline?
A. World income shrank and trade restrictions increased.
B. World income shrank, but there were few changes in trade restrictions
C. Trade restrictions increased, but there was little change in world income
D. The incomes of most nations increased, allowing them to become more self-sufficient.
- As a country develops economically, what changes usually take place in the goods it exports?
A. There is little change because comparative advantage does not change.
B. Raw materials and agricultural products decline in importance and are replaced by services and manufactured goods.
C. Services and manufactured goods decline in importance and are replaced by raw materials and agricultural products.
D. Exports go from being diversified to being specialized in whatever the country finds to be its comparative advantage.
- When a U.S. company establishes a call center in India that answers its customer service calls, the United States is
A. outsourcing, a form of importing services
B. outsourcing, a form of exporting services
C. insourcing, a form of importing services
D. insources, a form of exporting services
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ECO 365 Week 5 DQ 4 NEW
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Globalization involves more than the ability to trade with different countries. I wanted to share with you this article regarding the new 10 year Visa agreement between China and the U.S. In order to travel between the U.S. and China, you must get a travel document amended to your passport that states you are eligible to do so. Previously this visa was only valid for up to one year. Now they are valid for 10 years. The attached article states that 7.3 million Chinese people will come to the U.S. contributing 85 billion per year to the U.S. economy. Chinese people who have disposable income like to shop and they like brands! They come to the U.S ad contribute to our economy through the tourism industry.
http://usa.chinadaily.com.cn/us/2015-02/04/content_19484864.htm
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ECO 365 Week 5 DQ 3 NEW
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ECO 365 Week 5 DQ 3 NEW
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How does globalization affect the PPC for goods and services?
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ECO 365 Week 5 DQ 2 NEW
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Does globalization hurt or help the economy? Why or why not?
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ECO 365 Week 5 DQ 1 NEW
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I also found this article about possibly exporting more Agricultural products to Asia because the U.S. has strict regulations on Food.
We talked about regulations in other discussions. Regulations in the food industry is beneficial because it gives consumer confidence in our food supply. They don’t have that same confidence in Asia.
Class,
What are some other industries that could benefit from globalization and exporting more goods to other countries?
http://usa.chinadaily.com.cn/us/2015-02/03/content_19481831.htm
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ECO 365 Week 4 Learning Team Mergers and Joint Ventures NEW
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ECO 365 Week 4 Learning Team Mergers and Joint Ventures NEW
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Discuss the differences between horizontal, vertical and conglomerate mergers and how those differ from a joint venture.
Prepare a 350- to 1,050- word paper detailing the findings of your discussion.
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ECO 365 Week 4 Knowledge Check NEW
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1. What do economists mean when they say there is “market failure”?
A. Business has introduced a product that consumers did not want.
B. Free markets have led to excessive profits.
C. Markets have surpluses or shortages so that government rationing is necessary.
D. Free markets yield results that economists do not consider socially optimal.
- If a market has no externalities, marginal private costs
A. exceed marginal social costs
B. equal marginal social costs
C. are below marginal social costs
D. intersect marginal social costs
- Economists generally call the effect of an agreement on others that is not taken into account by the parties making the agreement
A. an externality
B. welfare loss
C. Pareto optimality
D. excess burden
- The size performance improvements sought by those pursuing horizontal mergers is
A. economies of scale
B. increased market share
C. to coordinate activities more efficiently to spur growth
D. to decrease competition
- A company buys another company in the same supply chain, but either in front of it or behind it in the supply chain. This is called
A. a horizontal acquisition
B. a vertical acquisition
C. a conglomerate
D. a joint venture
- Sony and Toshiba become partners in a microprocessor manufacturing company. This is called
A. a horizontal acquisition
B. a vertical acquisition
C. a conglomerate
D. a joint venture
- If two companies share ownership in a venture and agree on a formal management structure including members of both companies, this is called a
A. horizontal acquisition
B. vertical acquisition
C. joint venture
D. conglomerate
- Two companies come together to take on a project that has an explicit time cycle and ending point. The most efficient form of acquisition of this project is
A. a horizontal acquisition
B. a joint venture
C. a vertical acquisition
D. a conglomerate
- The more elastic the supply and the demand curves are, the
A. smaller the shortage a price ceiling will create
B. greater the shortage a price ceiling will create
C. smaller the surplus a price ceiling will create
D. greater the surplus a price ceiling will create
- Assuming a binding price floor, the more elastic the supply and demand curves are, the
A. smaller the shortage a price floor will create
B. greater the shortage a price floor will create
C. smaller the surplus a price floor will create
D. greater the surplus a price floor will create
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ECO 365 Week 4 Individual Differentiating Between Market Structures NEW
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ECO 365 Week 4 Individual Differentiating Between Market Structures NEW
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You will apply important microeconomics concepts toward the competitive strategies of an organization that operates in an industry of your choice. You will evaluate the differences between market structures and identify a group of competitive strategies consistent with the market structure that best aligns with the market in which the organization competes. You will assess how the market structure positively and negatively affects the firm and evaluate the efficacy of the structure’s competitive strategies.
Select an industry. Identify an organization in that industry. You may use the company you used for the Week 3 Learning Team assignment or you may select a new organization. Your selected organization must be submitted for instructor approval.
Identify the market structure in which this organization competes. Clearly indicate why the market structure was decided upon, and how this market structure differentiates from the other alternatives.
• How might the company you selected find itself working with organizations in the same industry that are an oligopoly, perfect competition, monopoly, or monopolistic market structure. Examine the different sectors with an industry and how market structure may vary within those sectors.
Identify three or more competitive strategies of your choice that may be used by the organization to maximize its profits over the long run. Evaluate the efficacy of these strategies in the market structure you identified.
Make recommendations related to the strategies the organization might consider to maximize its profits.
Select one of the following assignment options:
Paper
Write a 1,400- to 1,750- word paper.
Format consistent with APA guidelines.
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ECO 365 Week 4 DQ 4 NEW
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Tragedy of the Commons
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ECO 365 Week 4 DQ 3 NEW
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Negative Externalities
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ECO 365 Week 4 DQ 2 NEW
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What are the different types of mergers?
What the benefits of each?
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ECO 365 Week 4 DQ 1 NEW
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Keynesian economics is the idea that the government should be able to intervene in the economy. Classical economists do not think so.
From your reading, how does the government intervene. Do you think that the consumer is better off?
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ECO 365 Week 3 Learning Team Current Market Conditions Competitive Analysis NEW
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ECO 365 Week 3 Learning Team Current Market Conditions Competitive Analysis NEW
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Imagine you are part of a strategic planning group at a large corporation that is considering developing a new proposed product. The marketing director has asked your team to do a competitive market analysis to determine the product’s potential success. The analysis will focus on your primary competitor in the product’s market.
Select a potential competitive organization and a product in that organization.
Write a 1,400 – 1,750-word paper analyzing the current market conditions. Address the following topics:
- A short history of the organization and a description of their product
- Factors that affect demand, supply, and equilibrium prices in the market in which the competitor organization operates: Define the market for your chosen product, including an analysis of its competitors, potential customers, or potential buyers.
- Any issues or opportunities your organization or industry faces that affect its competitiveness and long-term profitability with regards to your product: This may include, but is not limited, to the following elements.
o Price elasticity of demand
o Technological innovation
o The relationship between the amount of labor & capital employed and the law of diminishing marginal productivity
o Cost structure
- Factors affecting variable costs, including productivity and others that change the supply of and demand for labor
- Factors affecting fixed costs
Make recommendations on how your organization can maximize their profit-making potential, and successfully compete in the new market. Consider the effect your recommendations may have on marginal revenues and costs.
Format your paper consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.
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ECO 365 Week 3 Knowledge Check NEW
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ECO 365 Week 3 Knowledge Check
- In a monopolistically competitive market,
A. firms produce differentiated products
B. there are barriers to entry
C. firms produce homogeneous products
D. the demand for any firm’s product is perfectly elastic
- Strategic decision making is most important in
A. competitive markets
B. monopolistically competitive markets
C. oligopolistic markets
D. monopolistic markets
- The general monitoring problem implies that
A. profit maximization should always be considered to be a firm’s goal
B. there is a cost of supervising employees so that they work toward the owner’s goals rather than their own
C. government must intervene to protect national goals
D. competition will ensure common goals among the owners and managers of a firm
- Lazy monopolists are characterized by the tendency to
A. maximize profits at the cost of losing market share
B. pay too much to protect their monopoly positions
C. earn enough profits to keep their shareholders happy without trying too hard to hold costs down
D. minimize losses so that the dividends of shareholders are maximized
- Judgment by performance means that the competitiveness of a market is determined by
A. the actual behavior of firms in the market
B. the structure of the industry
C. . the number of firms in the market
D. technological considerations
- Consumers tend to accept the market restrictions imposed by suppliers because
A. governments prevent them from organizing
B. they see themselves as laborers and therefore benefit from restrictions
C. their costs of organizing are higher than the cost of collusion by the suppliers
D. when combined, their losses are small for the group as a whole
- The fact that U.S. managers’ salaries are about four times higher than those of comparable managers in Japan, where banks control firms more closely, is probably
A. an example of the monitoring problem in the United States
B. an example of X-inefficiency in Japan
C. due to the fact that the U.S. economy is much less competitive
D. due to the fact that there are more natural monopolies in the United States
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