supply at each price Equilibrium Price: p*; price where the quantity of apartments demanded equals the quantity supplied Comparative Statics: asking how price changes when various aspects of the market change Four possible ways of allocating apartments to people: (Apt example) The competitive market – Pareto Efficient A discriminating monopolist – Pareto Efficient An ordinary monopolist – Pareto Inefficient Rent control – Pareto Inefficient Pareto efficiency or economic efficiency Pareto
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ASSIGNMENT #1: ENTREPRENEURIAL LEADERSHIP Introduction This paper analyzes and describes the founding leaders, their leadership styles, and major business principles. It also describes founding leaders with profit orientated and social responsibility orientated approaches. Finally, it gives resources or tools available through Small Business Administration (SBA) and Service Corps of Retired Executive (SCORE) that would be most useful to the type of entrepreneurial approach identified with.
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Washburn approaches capitalism from its two binary perspectives. The pro-capitalist posits that capitalism “moves on two tracks, the economic track and the political track” (Washburn, 155). They remark that the economic track allows people to be free and independent, while the political track is democratic, giving people an equal voice. They define justice as “being fair” and that it is giving people “what they have earned or merited” (Washburn, 155). Because capitalism rewards people for their individual
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and later after India recognized the incapability of the system to deliver the economic progress that many Southeastern Asian nations had started to enjoy, India started to adapt a market economy system to become more attractive to the foreign possible investors and businesses. So, up to today, India has been using a market economy system, but, still with some government oversight which made the current economic system as a hybrid one. In the transformation conducted, it carries impediments which are
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Source one, a quote by Ayn Rand, displays a need to convert to a classical liberal ideology. That a “pure, uncontrolled, unregulated laissez-faire capitalism” is what is needed to succeed, that Adam Smith’s ideology should be used to its full extent. Rand is stating that an economy should be based on self-interest, without government intervention. No form of collectivism is wanted in this form of economics, a person is able to work their own goals, not towards the good of the collective. Rand goes
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There are many benefits to full privatization. At the forefront is the core moral argument that the state should get out of the business of selling booze. It should be a privately run industry. Private industry tends to run business more effectively and efficiently than government. Ironically, in response to the push for privatization, the PLCB has started to imitate the practices of private retailers (Benefield). It doesn’t make sense that rather than letting go of the reins, the PLCB would prefer
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argue that if the state guarantees a social minimum that would cause even more poverty and unemployment, not reduce it. Which is an argument that today has come to new life. They believe that the market is the best way for welfare, that by working we secure our own welfare, and it will work as long as the market is not interfered with. However it also assumes that all the citizens has the opportunity to work, what about them who can’t work? (Esping-Andersen 1990, p.
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“Examine some ways in which Marxists explain crime” (21 marks) Crime, depending on an individual’s interpretation of it, can be described in many ways. Functionalists and Marxists both have different opinions, but traditional Marxists and neo Marxists also have some different explanations. Traditional Marxists believe the structure of a capitalist society explains crime. Their view of crime has three main elements, these are criminogenic capitalism, the state and law making and ideological
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The world system today - Modern stratification: Growth of middle class, social mobility leading to a more complex social stratification. Capitalism: The components * Private ownership of means of production * Market competition * Wage labor * Pursuit of profit There are a variety ways to run a capitalist economy; Even in ‘hyper-capitalist’ USA- we have government regulation…. The debate: Capitalism Like: innovation; entrepreneurship; efficiency; growth; hard work--reward;
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The free market is the center of debate of whether it’s fair or not to buy certain goods like babies. Sandel’s “Pregnancy for Pay” talks about a couple, William and Elizabeth Stern. They wanted a baby but couldn’t have one so they worked up a contract with Mary Beth, that said that they would pay her $10,000 dollars to have a surrogate pregnancy using William’s sperm, which makes William, the baby’s father. She would have also had to give up her maternal rights. In the end, Mary formed a maternal
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