What type of good is sold in your industry

Assignment Help Business Economics

Reference no: EM133637316

The most important interactions are of three kinds.

First, what kind of product is being produced by your industry (search engine Google)-should it be a private good or not? Second, do any levels of government impact your industry's success and prosperity-should they?

Finally, given the resources that go into your industry and how these resources are found/created, do movements in the international community impact your industry? This impact could be political (wars, coups, etc.) or practical (resources only found there) or something else. You will need to think hard about the kind of good that is being produced in your industry. Is it an inferior good, a normal good, or a luxury good? Are any externalities created by your industry's production?

1. What type of good is sold in your industry? Is it a public good, a private/normal good, a common resource, or an artificially scarce good? What does that mean for your industry?

2. Is your product a normal, luxury, or inferior product?

3. Are there any externalities that your industry creates that it might not pay for? Does it, for instance, pollute?

4. Should there be any government intervention in your market?

5. How much of a factor are aggregate economic policies and circumstances in your business?

6. How would your industry be impacted by an international tariff on its sales?

Reference no: EM133637316

Questions Cloud

Do you perceive discrimination in the responses : Do you perceive discrimination in the responses from law enforcement, corrections, or the courts? Which specific acts contribute to this perception and explain

Draw production possibilities curve : Draw a production possibilities curve. Label a point for Underutilization, for Efficient use of resources and for and Impossible combinations.

Draft code of conduct created by chatgpt : Describe how independently doing the introduction and considerations part of your Report informed the questions you asked ChatGPT

Identify specific stakeholders involved : Identify specific stakeholders involved and explain how they will contribute to the implementation process. Describe any mechanisms or strategies for ongoing

What type of good is sold in your industry : What type of good is sold in your industry? Is it a public good, a private/normal good, a common resource, or an artificially scarce good?

Affect the demand curve for nuclear energy : Identify any two factors affecting the demand for nuclear energy. Explain how these factors affect the demand curve for nuclear energy

Examine ricardos economic model of free-trade : Examine Ricardo's Economic model of free-trade and the Comparative Advantage theory (CA).

Significant in economic and human geographic contexts : Why is a formation of polycentric urban region (PUR) significant in the economic/human geographic contexts?

Athletic shoes has wide variety in its product line : Athletic Shoes has wide variety in its product line. A firm with a wide product variety will find it easy to realize economies of scale.

User Account

All Pages