When companies can produce more due to demand they are able to hire more workers, which can lower the unemployment rate. Lowering the unemployment rate will provide more income tax revenue to the government and fewer citizens taking unemployment benefits. Conversely, when exports decrease consumers pay less money for products causing domestic profits to decline and companies are unable to maintain or increase their workforce causing the unemployment rate to
Selling products online will make it easier for Innocent to reach to wide range of customers. Another challenge that Innocent could face is being able to keep its current employees because during recession Innocent might struggle to pay wages so they might think of paying minimum wages. This may makes employees to leave the jobs and look for better jobs with higher wages. So it is essential for Innocent to provide as fair wages as they can to keep their existing employees. During recession Innocent would mostly want to survive.
Less people would have to depend on welfare and other community services to get by. Many people depend on welfare because the current minimum wage is not enough to satisfy their basic needs. So, an increase would help more people help themselves. An increase would benefit all workers because it would push wages up for all employees. An employer would not be able to hire an unskilled employee for the same amount of a skilled employee, who has been employed longer.
Although advertisements seem as a positive addition to countries in need of a stable economy, it is a enormous impact on people’s lives. (Doc. E) Without it, people wouldn’t know the latest fashion style, the best car, or the new developed drink and it would keep people in a boring routine of buying the same products and not exploring. Even though advertisements try to influence people’s decisions, it is up to the people as consumers to make moral
Wheelan continues to say although it seems inhumane to have employees in sweatshops working for meager wages, it gives people jobs who otherwise may have no job at all. Also, lower prices are the equivalent of higher incomes. Wheelan also mentions that world trade opens the doors of domestic business to other countries which increases investment and business. Trade is one beautiful process. In conclusion, Wheelan strongly asserts the point that the economy is always changing, and factors like GDP and inflation will never stay the same.
In a monopolistic competitive market profit is important. When a firm first enters a monopolistic market they can act like a monopoly until others join in the market which will lead to competition for lower prices. Kudler Fine Foods will compete with other fine foods for lowest prices on their goods; however, they have to make a profit in order to stay in business. In the short-run Kudler will have more profit, but in the long-run the profit will decrease to other competitors in the
This would help benefit businesses because if workers were to go on strike, they wouldn’t have to stop or slow down production. Immigrants would just replace the strikers. Although immigration was somewhat beneficial to the United States, several people opposed it. Many immigrants were thought to be inferior to Americans. They were described as weak, broken,
To play their intended roles successfully, public organizations must also be structured with such interactions in mind. The supporters still argue that private firms are more efficient than government because of balanced economies, higher labor productivity, and fewer level restrictions. We can say that the nature of government services makes many of them inappropriate for privatization. Because of lack of information, contracting may involve hidden costs; therefore the need for monitoring is demanded. In some places for example, creating the competition necessary for effective contracting is impossible, so in practice privatization is more complicated than it
c. Migrants may take jobs of current citizens, putting numerous individuals out of work. d. Immigrants will bring ideas and products to the states, causing a benefit to the nation. e. Cheap labor will be much more easily accessible, but the individuals put out of work will be dissatisfied. f. It should be questioned why local citizens should have the right to jobs and markets before
Moreover, the goods from the outsourcings may not be as efficient as the goods that are made within the country. The consumers would choose the goods through the brand names or the prices; however, sometimes the consumers would choose goods by where they are made. Therefore, it is very significant to know where the goods are manufactured because it will increase the satisfaction of consumers since they are very demanding on the quality of goods. In addition, as the consumption of the goods decrease, the companies will earn less revenue that decreases the investment that they will spend for outsourcings. Thus, consumer demand has a big impact on outsourcings since people do not want to spend money on the outsourcings’ goods which make the companies earn less profits; on the other hand, the outcome will reduce the spending on