Should the consumer be free to make decisions about production and buying based on all available...
Should the consumer be free to make decisions about production and buying based on all available information, or should we rely on the government to regulate and make decisions for us?
Homework Answers
According to the Adam Smith notion of invisible hand, the self-interest of the economic agent in free market leads to effective consequences. Free market with full information availability can make the decisions of every agents towards optimality. As it is the goal of any good economy to ensure it full potentiality, the failure of free market economy to realise this objective should allow the government to intervene and take necessary and pertinent steps to ameliorate the deviation from the targeted one by making congenial changes in consumer decisions through different policies regime.
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Should the consumer be free to make decisions about production
and buying based on all available...
2. Multiple Buying Influences Multiple Buying Influences While consumers often make purchase decisions based on their...
2. Multiple Buying Influences Multiple Buying Influences While consumers often make purchase decisions based on their own emotion criteria, organizational buyers often follow a more rational process that includes input from multiple sources. These multiple sources are called the buying center For organizations, the purchasing of products and services is often heavily influenced by many different constituencies. Each of these groups provides input based on their special area of expertise. The ultimate goal is for an organization to make the...
Every day, we make many decisions based on our needs, our assets, and our desires and...
Every day, we make many decisions based on our needs, our assets, and our desires and what is available to meet these. A Recommendation Report is simply a formalized written statement of this that businesses use to make decisions. They often use it to make decisions to purchase equipment or to make decisions to move or change something, perhaps even whether or not they need to hire workers. First, a business must decide what is the issue. In the case...
1. Assume you are about to make a significant consumer purchase, and the product is available...
1. Assume you are about to make a significant consumer purchase, and the product is available at two local stores, one with high inventory turnover and one with low. Which store would you choose based on this information? Why? 2. If you were applying for a home mortgage loan today, would a lender view your debt- to-assets ratio favorably? Why or why not? 3. As a potential employee, what intangible assets can you offer a company?
Question 5 2 pts Should we consider sunk costs when making decisions about the present or...
Question 5 2 pts Should we consider sunk costs when making decisions about the present or the future? No, sunk costs cannot be recovered. Yes, we should consider all costs when making decisions for the present and the future. No, sunk costs have a non-monetary value; therefore, we should not consider the costs. Yes, sunk costs are avoidable, so we should consider the costs when making decisions. Previous Question 6 2 pts Producers selling their ice cream as "95% fat...
What is the government's role in regulation? Should they be responsible for regulating business at all?...
What is the government's role in regulation? Should they be responsible for regulating business at all? Shouldn't that fall on the business itself? For instance, in my profession, we have a code of conduct that we must abide by. If we don't, the profession itself will hold us accountable - such that we can be reprimanded and even lose our license to practice. If anything, shouldn't the government just require the business to self-regulate? Thoughts?
How should policymakers and providers make decisions when faced with a dearth of evidence? Do you...
How should policymakers and providers make decisions when faced with a dearth of evidence? Do you prefer a more cautious approach that does not approve procedures or drugs until evidence is available or a more aggressive approach that encourages experimentation and use of treatments that appear to be effective? What about medical care for children, who are generally excluded from clinical and research trials for ethical reasons?
As we all know, there's a lot of information in the news about what's healthy for...
As we all know, there's a lot of information in the news about what's healthy for us and what's not. Scientists use the Scientific Method to determine whether data acquired in laboratory experiments is valid and to direct them to the next question that needs to be asked. As consumers, we can use the Scientific Method as well, not as a scientist but as an educated consumer to help us sort through the information being presented and make determinations about...
Is healthcare a right and social good that should be available to all OR a market-based...
Is healthcare a right and social good that should be available to all OR a market-based commodity, readily available to those who can pay for it?
Considering all we know today about HIV//AIDS, do you believe a physician should have the right...
Considering all we know today about HIV//AIDS, do you believe a physician should have the right to refuse certain patient cases based on a patient's diagnosis? Conversely, should patients have the right to refuse to be seen by healthcare providers who are HIV+ or have AIDS (not that this protected health information would be available, but think about it!)
Corporate managers work for the owners of the corporation. Consequently, they should make decisions that are...
Corporate managers work for the owners of the corporation. Consequently, they should make decisions that are in the interests of the owners, rather than their own. What strategies are available to shareholders to help ensure that managers are motivated to act this way? Shareholders can do the following: (Select all the choices that apply.) A. Write contracts that ensure that the interests of the managers and shareholders are closely aligned. B. Ensure that employees are paid with company stock and/or...
2. Multiple Buying Influences Multiple Buying Influences While consumers often make purchase decisions based on their own emotion criteria, organizational buyers often follow a more rational process that includes input from multiple sources. These multiple sources are called the buying center For organizations, the purchasing of products and services is often heavily influenced by many different constituencies. Each of these groups provides input based on their special area of expertise. The ultimate goal is for an organization to make the...
1. Assume you are about to make a significant consumer purchase, and the product is available at two local stores, one with high inventory turnover and one with low. Which store would you choose based on this information? Why? 2. If you were applying for a home mortgage loan today, would a lender view your debt- to-assets ratio favorably? Why or why not? 3. As a potential employee, what intangible assets can you offer a company?
Question 5 2 pts Should we consider sunk costs when making decisions about the present or the future? No, sunk costs cannot be recovered. Yes, we should consider all costs when making decisions for the present and the future. No, sunk costs have a non-monetary value; therefore, we should not consider the costs. Yes, sunk costs are avoidable, so we should consider the costs when making decisions. Previous Question 6 2 pts Producers selling their ice cream as "95% fat...
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Caculate the PH THANK YOU!
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