Market failure refers to a situation in which the market does not allocate resources efficiently. ANSWER: T TYPE: T KEY1: D SECTION: 2 OBJECTIVE: 7 RANDOM: Y [cxxii]. Since taxes affect only the price paid by the buyer, they cannot have an adverse impact on the allocation of society’s resources. ANSWER: F TYPE: T KEY1: C SECTION: 2 OBJECTIVE: 7 RANDOM: Y [cxxiii]. A monopolist has market power.
The reward/need satisfaction theory of relationship proposed by Byrne & Clore (1970) asserts that if a relationship is seen to offer the prospect of reward (for either party), it is more likely to form – if there is little or no perceived reward, the relationship does not form. Their model is based on the behaviourist principles of operant and classical conditioning. According to the former, behaviour that results in a beneficial outcome makes repetition of this behaviour more likely, whereas if the outcome is undesirable, the behaviour is less likely to be repeated or continued. A relationship that brings perceived advantages is a case of positive reinforcement but the relationship can also be characterised by negative reinforcement if the
Hiringthe foreign workers may interfere with the policies of China¶s political and legal environment.Prior to Riordan¶s plans to expand the facility in Hangzhou and hire additional foreignworkers, the management should consider the political and legal climates of China to eliminateinterference with the goals of the company. China is a communist state but embraces a freemarket economy (Hodgetts, Luthans, & Doh, 2005). Presently the political environment is stablein comparison to Latin America or the Middle East (Hodgetts, Luthans, & Doh, 2005). However,Riordan needs to investigate thoroughly the legal and regulatory aspects of expanding the facilityand hiring foreign workers in China.The legal and regulatory environment in China needs investigating. Planning to expandthe Hangzhou facility must be approved by the government.
a) Price fixing. INCORRECT 4. Eric is acting as a disclosed dual agent in a transaction. Which statement is true? c) Eric may not represent the seller’s interests to the detriment of the buyer.
Include any important potential economic, social, or political pressures, and exclude inconsequential facts. That the most important fact was left out of the report. When making an arrest and writing a report it is important to have the key facts in the report right away when dealing with a case. With a DUI arrest it would be very important to indicate that the husband was driving. Now there is question by the prosecutor if the officers saw the husband driving the vehicle or if the officers honestly forgot to put that information in the report.
When defining what the political actually is you must first be able to understand what the relevant extremes are that actually define the political. Through Schmitt’s words, “the specific political distinction to which political actions and motives can be reduced is that between friend and enemy” (Schmitt, p. 26). When you are making friends and enemies through certain actions, then you are actively participating in the political. “The political enemy need not be morally evil or aesthetically ugly; he need not appear as an economic competitor, and it may even be advantageous to engage with him in business transactions. But he is, nevertheless, the other…so that in the extreme case conflicts with him are possible” (Schmitt, p. 27).
They are losing market shares to securities firms that are not so strictly regulated and to foreign financial institutions operating without much restriction from the Act. 2. Conflicts of interest can be prevented by enforcing legislation against them and by separating the lending and credit functions through forming distinctly separate subsidiaries of financial firms. 3. The securities activities that depository institutions are seeking are both low-risk, by their very nature, and would reduce the total risk of organizations offering them, by
The recommendation to develop objective criteria in order to fairly distribute the value is not appropriate in reality. The fact that the existence of objective criteria can be questioned, provides the negotiator with an incentive to misuse the Harvard method in order to enhance his or her outcomes for the disadvantages of the other party. In the "Mustbach" exercise I took the role of the seller whereas my partner Sandra was obliged to buy a configured car. I actively took the initiative and asked Sandra a lot of questions about her interests and her willingness to obtain and sacrifice certain features. In comparison with my preference structure I found out
As a member of the Ford Company, should I have to decide on recalling the vehicles or settling the case in which injury occurred I will take the option of recalling the vehicles. Yes, the decision will have an impact on the company financially but ethically it would be the right thing. Human lives are more valuable than money. Placing dollar values on human lives allowing them to die or be seriously injured rather than pay the cost to repair faults in vehicles is unethical. Consumers and society look at organizations to be trustworthy, responsible and held accountable for all their actions.
The essence of this statement is denying the possibility that free trade could bring positive effect to world’s poorest countries. So free trade is really a fair trade to poor countries?Actually, the main argument does not come from whether rich countries should open market to support the development of poor countries, instead, the focus is whether the liberalization is the burden of poor countries. The essay will critically discuss the statement pro and con by listing theory support and example support separately. From the pro angle, free trade is unfair to poor countries because poor countries has no competitive advantages in almost every sector and no absolute advantage means no trade according to related theory; From the con angle, free trade still could be in the interests of poor countries even though they have no absolute advantage because free trade offer more choices and lower price, in addition, poor countries could still develop comparative advantage according to supportive theory. The conclusion will be driven from the analysis below, which will finally regard free trade as a double-edged sword.