Post
your responses to the main idea to the Really Annoying Bicycle Messenger
Company case that you learned here.
What
did you learn from this case? Post your response to this question in the
discussion area.
Post
your response to the questions in “Law and Economics” here.
Post
your response to the questions in “Fair Trade Questions” here.
1. Why should countries engage in
international trade rather than remaining self-sufficient and avoiding the
unfair competition of low-paid foreign workers?
2. If our country can make everything
better and cheaper than foreigners, why would we have any reason to be involved
in international trade?
3. Should we “buy American” instead of
outsourcing trade and jobs to foreigners?
4. If we do engage in foreign trade,
should we limit foreign trade to nations that engage in “fair trade” by giving
us access to their domestic markets and reciprocal import tariff reductions
that mirror our tariff reductions on our imports from them?
Post
your response to the questions in “Government Price Controls” here.
1. Why are there laws setting
minimum wages for workers and maximum rents for housing?
2. Why are there no laws
setting maximum wages for workers or minimum rents for housing?
3. Do rent controls cause
shortages or surpluses, and why?
4. Do minimum wage laws cause
shortages or surpluses, and why?
5. What are the advantages
and disadvantages of minimum wage laws for:
Workers?
Employers?
Consumers?
6. If minimum wage laws are
beneficial, why are minimum wages set as low as they are – for example, what
about a minimum wage rate of $100 per hour?
7. If rent controls are
beneficial, why are rent ceilings set as high as they are – for example, what
about a rent ceiling of $100 per month for every rent-controlled dwelling?
8. From the questions and
answers above, what do you conclude in general about the advantages and
disadvantages of price control laws that set price ceilings and price floors
for any and all goods and services?
Post
your response to the questions in “Competition Assignment” here.
1.How does competition relate to
communism, socialism, fascism, capitalism and monarchy?
2.To what extent does capitalism include
“crony capitalism” and why?
3.What roles are played by:
a. Competition?
b. Prices?
4.Is competition confined only to
prices, or does it extend beyond prices?
5.Do
competitors relish competition, or do they try to avoid competition? If they
try to avoid competition, how do they attempt to do so?
6.Is
it the same thing, or is it different, to be pro-competition versus
pro-competitor in some cases but not in other cases? Why?
