Discussion Questions (1) Discuss how economic freedom is a condition for creative destruction (Koch, Ch 3)....
Discussion Questions
(1) Discuss how economic freedom is a condition for creative
destruction (Koch, Ch 3).
(2) Discuss why sunk costs should not govern decision making (Koch,
Ch 4).
(3) Discuss the role of an entrepreneur in a free society.
(4) Explain the paradox of "creative destruction" and discuss a
modern example of creative destruction today.
Homework Answers
Creative destruction - refers to the incessant product and process innovation mechanism by which new production units replace outdated ones.
Economic freedom create market selection mechanisms that help in creation of creative destruction.
Economic freedom which prevents entry barrier and transaction cost which help in creation of job and firm.
It also provide market correction device, serving a disabling force to allow firm and job destruction.
2) :- sunk cost is that cost which is cannot recovered and changed and it is independent on any future cost in business may occure and decision making in business depend on future course . sunk cost should be irrelevant in decision making
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Discussion Questions
(1) Discuss how economic freedom is a condition for creative
destruction (Koch, Ch 3)....
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different, humorous, or out-of-the ordinary in differentiating
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not
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Excluding #3
DISCUSSION QUESTIONS 1. Discuss evidence you have seen of the imperatives for change, flexibility, and responsiveness faced by today's firms. 2. Describe large, bureaucratic organizations with which you have had contact that have not responded flexibly to customer demands. Also describe examples of sat- Isfactory responsiveness. What do you think accounts for the differences between the responsive and nonre. sponsive organizations? 3. Considering the potential advantages of large and small size, would...
CASE STUDY
HELP PLEASE WOTH DISCUSSION QUESTIONS
political, and medical dilemmas. 2. How 3. What or yea 4. Shou than Althoug issues, ther organ dona trials as wel PATIEI ZNO REALITY CHECK: End of Life or Beginning of Life? My mother is 92 years old, and she is more active and is enjoying life more than when she was much younger. Her advanced age has actually proven to be something of an advantage, as it has given her the time...
After reading the exceprt from Hardin's essay, discuss the
following questions with your class
After reading the excerpt from Hardin's essay, discuss the following questions with your class 1. What is Garret Hardin most concerned about? 2. How can "the commons" best be defined? 3. Are individuals who overuse "the commons" acting irrationally? Explain. 4. Besides the "common pasture", what other resources does Hardin identify as "commons"? 5. What are some of the po Some of the possible solutions he...
What Exactly Does Being “Creative” and “Effective” Mean?
An argument can be made that “effective” or successful
advertising is usually being creative with a purpose. Certainly,
the notion of effective advertising can vary from culture to
culture. In the United Kingdom, a premium may be placed on being
different, humorous, or out-of-the ordinary in differentiating
campaigns from the mass of mediocre advertising.
In the United States, creative advertising is viewed more often
as being “effective” in that the creativity has...
Questions 1. How do conceptual frameworks of accounting attempt to create a theory of accounting? Describe the components of the IASB Framework and how it contributes to a theory of accounting. 2. Some people argue that there is no need for a general theory of accounting as established in a conceptual framework. They say there is no overall theory of physics. biology, botany or psychology, so there is no need for an overall theory of accounting. Furthermore, attempts to develop...
Please use own words. Thank you.
CASE QUESTIONS AND DISCUSSION > Analyze and discuss the questions listed below in specific detail. A minimum of 4 pages is required; ensure that you answer all questions completely Case Questions Who are the main players (name and position)? What business (es) and industry or industries is the company in? What are the issues and problems facing the company? (Sort them by importance and urgency.) What are the characteristics of the environment in which...
not
all of my questions were answered.
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