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12 Feb 2019

Describe/Define an aspect Globalization of Consumption and provide two interesting examples to illustrate the aspect that you are describing (1 negative & 1 possitive impact)?

Example like : McDonald or something similar to the consumption of the globalization.

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Keith Leannon
Keith LeannonLv2
13 Feb 2019

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Discuss and describe something that you have found interesting and insightful that helps you understand the relevance of Macroeconomics to the real world. Answers should be between ƂĀ½ a page and 1 page in length. (Note: This is an open question in which students should provide a real-world example and explain how some part of the course has aided understanding relevant to the example provided.)

Please help with answering the questions below.

1. What is your understanding of the concept of Profit? How do businesses make money? This is called the Business Model. Provide a specific example for an existing company that sells products like PepsiCo., and for one that provides services, like Facebook.

2. Identify the External environment effects that Impact Businesses. Provide examples for each. Example: The Political/Legal Environment Impacts the Tobacco Industry by setting rules on age limits for customers, and for advertising on television or in print.

3. Define Supply and Demand. Explain how they are balanced by adjusting prices or quantities. Give an example of a product that has had a shortage that caused its price to increase. What products do you buy regardless of price? These products are inelastic.

4. List the 4 Degrees of Competition and provide examples of industries for each. Can you identify a monopoly?

5. List 5 Economic Indicators and describe what they measure. Also, provide the latest value for each. You can find this information on the Internet. See Useful Links below.

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A relatively new aspect to the marketplaces of a number of cities worldwide is something called the sharing economy, in which people rent assets such as cars and rooms directly from each other. Also called a peer-to-peer economy, these transactions are generally conducted via the Internet from dedicated Websites or mobile apps. Two of the faster-growing companies in this sharing economy are Uber, which is a ride-sharing service, and Airbnb, which helps travelers find lodging away from the traditional hotel market. Do some research on these two companies and the sharing economy in general and then address the following:

- Discuss the sharing economy from a supply and demand standpoint. How do companies like Uber and Airbnb affect supply and demand in the markets for shared rides (taxis, limos, etc.) and rented rooms, respectively?

- Why do you think these two companies continue to grow and remain successful?

- Some cities have fought to prevent companies like Uber and Airbnb for being able to conduct business. Explain why cities would do this, and discuss whether you agree or disagree with these cities. (Look up the city of Dallas and its ongoing entanglement with Uber.)

- Explain who benefits and who loses when sharing-economy companies like Uber and Airbnb are allowed to operate.

- Also, feel free to entertain me and your classmates with any additional interesting information you have uncovered with respect to the sharing economy and how it relates to topics covered in this class.

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