Reference no: EM133595666

Problem

How supply and demand shift, with businesses and customers impacting those changes. Chapter 4 then discusses how companies decide to set their prices. The challenge becomes the demands of the customers vs. the demands of the workers and businesses to make more money. Discuss these dilemmas with the following questions:

Question A. Type one paragraph discussing how minimum wage helps workers live a better lifestyle. Ensure you provide a specific example of how the government uses this control to help people. (Make sure you support your opinion with academic resources such as journal articles found on the HCCC Library website databases under research.)

Question B. Write one paragraph examining the alternative viewpoint, without minimum wages; people would have much lower prices and therefore would not need to work as hard to support a relatively good lifestyle. Compare your answer for question 1 to your answer to question 2 and determine which you favor.

Question C. Write one paragraph reflecting upon how alternative tax systems help or hurt the lifestyle of customers and make conducting business more challenging. General Sales Tax, Specific product taxes, employee income taxes, social security taxes, and any other taxes can be included in this answer. Clearly define how the system fails to provide the intended benefit or works the way it was designed.