Economics Chapter 7-9

Chapter 7

Price and output

Price and output affects life in America in a few ways. It does this through keeping costs on production low. To me, this means that producers are able to create more products by spending less money to make it. This can affect families through the way it helps with production of products that they would need to survive. Price and output affects the nation through they way it brings the cost of production down. Its impact is very important today because it helps with the economy by encouraging companies to buy more properties to make more products.

Monopolies

Monopolies affects life in America in negative ways. This is because monopolies limit the growth of the economy. It does this by buying other companies that could compete against it, this hugely limits the population. To me, this means that if a company has a monopoly in a certain area then, it could limit the creation of other companies and help with the economy. This can affect families through the way it limits the types of products and goods in the market. Monopolies affects the nation through they way it can negatively affect the creation of companies and the limits it places on the economy. How is government limiting the creation of a monopoly? Its impact is very important today because it can help bring down the economy.

Cartels

Cartels affects life in America in negative ways. It does this because it helps limits prices of certain products. To me, this means that it limits the economy, by making an item the same price range there will be no competition and could hurt the economy. This can affect families because it can limit them to what item to buy a certain item just for its price. Cartels affects the nation through they way it limits buying products by limiting the competition. What are some examples of cartels in America? Its impact is very important today because it will hinder the overall economy by eliminating competition.

Chapter 8

Partnerships

Partnerships affects life in America in positive ways. It does this through the way that partnerships help promote businesses working together and help each other out. To me, this means that if businesses are helping each other, they can promote more businesses . This can affect families through the way these businesses could help them by either providing services or goods. Partnerships affects the nation through they way it helps employers and their employees, this overall helps with the economy.

Advantages of Coprorations

The advantages that corporations affects life in America in positive ways. One of the ways that corporation affects life in America is its potential growth. To me, this means that if corporations continue to grow it will have a drastic effect on the economy helping it greatly. This can affect families through the way corporations can help families get jobs or provide goods or services that they would need to survive. These advantages affects the nation through they way it can keep growing. Is it possible for corporations to die? Can corporations theoretically keep growing? Its impact is very important today because of its major effect on the economy and on America

Franchises

Franchises affects life in America in both positive and negative ways.This is because Franchises helped inexperienced owners, have a standardized quality and even financial assistance, all of which affect America positively because of these help the Franchises grow. Franchises while overall positive do have limitations such as purchasing restrictions and limited production line, all of which limit the grow the franchise. To me, this means that if franchises grow they could end up helping the economy much more. This can affect families because franchises are usually a small business and most likely be owned by a family which will help them and the economy. Franchises affects the nation through its eventual build into corporations which will help the nation’s economy grow. Some of it’s implications are small business. What are some ways franchise can grow? Its impact is very important today because many of the corporations that are alive today started out as franchises. Its relevance today is that many people are now starting their own franchises, trying to make a better living for themselves.

Chapter 9

Unemployment

Unemployment affects life in America in the ways it could have hindered the economy. This is because, people who are unemployed are not working, therefore not contributing to the economy. Although, much of the unemployed are in a temporary state of unemployment, others are stuck in the unemployment. To me, this means that unemployment can help hinder the economy because if unemployment rises too high, then there will be no economy. This can affect families because without an economy there can be no circulation of goods therefore limiting the economy which can also affect the nation greatly. What are some ways to decrease unemployment? How can we create jobs?

Wage Discrimination

Wage Discrimination affects life in America in a negative way. Wage discrimination affects everybody in America because it hurts families. To me, this means that families are affected through the way that some members are paid less even while doing the same job, which could in turn not allow families to get the support that they need. Whether, it’s through buying products or getting services. Wage discrimination affects the nation through they way it allows people . Some of it’s implications are that the wage discrimination is justified because of other means. Why is there still a wage gap? Isn’t not that the reason why women “earn less” than men on average is because of varying jobs that each gender chooses? Its impact is very important today because of the way that this discrimination hurts individuals and families all over the nation. It is still relevant today because many are still talking about the wage gap between men and women?

Collective bargaining

Collective bargaining affects life in America in major ways. This is because collective bargaining is a big part of the Labor Union, which is a big part in the constitution. It affects life in America because it allows workers to argue that their Wages, Working Conditions, or Job security are unfair or a problem . To me, this means that the employers are unable to have all the power in the work force. This can affect families through the way it gives power to some working family members, as if their current working conditions are unfair they can fight against it. Collective bargaining affects the nation through they way it allows workers to fight against an unfair system. Is it possible for Unions to fail? What are the conditions that would lead them to failing? Its relevance today is that people are still fighting against an unfair system of labor .