Linda Said:

Normative Economics- Republicans vs. Democrats?

We Answered:

Most of the time conservatives (most closely aligned with the GOP) look at economics positively. That is they look at empirical evidence concerning how economies function most efficiently. Efficient use of resources itself is the objective. Liberals ( most closely aligned with the Democrats) tend to look at economics normatively. That is, they look at economics and say, "Yes, but wouldn't things be even better if we (government) could intervene to produce a non-economic outcome that would be preferred by the public (and particularly that part of the public. The trouble with this approach is twofold. One, intervening in market actions inevitably has all sorts of unintended consequences that often swamp the benefit that is purportedly sought (e.g. trying to engineer more home ownership brought about a disastrous housing bubble and made it even more difficult for people to own homes). Two, government -- like anyone else -- tends to act in its own self-interest, not the interests of the public at large.

Darren Said:

In what sense can we speak of a market for professional basketball?

We Answered:

Fans provide the demand for tickets, concessions, TV, merchandise. The clubs supply the games, food, broadcasts, merchandise. When there are "superstars" -- e.g. Michael Jordan, LeBron James -- demand increases. at the individual club level, when the team is winning there demand increases. When the team plays poorly, demand decreases.

Vera Said:

what is a good case study for macro - economics of a company ?

We Answered:

MCDONALD'S
(Fast Food Nation)
One out of every eight workers in the US has, at some point worked at a McDonald's restaurant.
It is the nation's largest purchaser of beef, pork and potatoes and second largest of chicken (KFC is number one);
It has replaced Coca Cola as the world's most famous brand, but serves Coca Cola in its establishments;
It operates more playgrounds – designed to attract children and their parents to its restaurants – than any other private entity in the US;
The McDonalds Corporation is located in Oak Brook, Illinois
Schlosser quotes the farm activist Jim Hightower who, in the early 1970s, warned of "the McDonaldization of America": "He viewed the emerging fast food industry as a threat to independent business, as a step toward a food economy dominated by giant corporations, and as a homogenizing influence on American life." In Eat Your Heart Out (1975), he argued that "bigger is not better." Schlosser says that much of what Hightower feared has become a reality. He believes that the centralized purchasing decisions of the large restaurant chains e.g. McDonald's, KFC, Burger King and Pizza Hut now have an unprecedented degree of power over the nation's food supply, as well as "wiping out small businesses, obliterating regional differences, and spreading identical stores throughout the country like a self-replicating code."

Ramona Said:

if I go to a liberal arts college, what opportunities would I have if I graduate with a BS degree in Economics

We Answered:

If you go to a good liberal arts college with a good economics department and get good grades, then as a candidate for grad schools you'll be even more impressive since you'll be a more well rounded student in the process. (Assuming you do go to grad school.)

I've never heard the argument that liberal arts students tend to produce teachers. But I can understand the gripe with liberal arts schools that many may have since they force students to study other subjects along with their preferred major. This can be frustrating, but there's a bit of a movement to minimize the effects non-major classes have on students' GPAs. This frustration may lead some to make the comment that liberal arts colleges are for "teachers" because it doesn't strictly adhere to one's major but it shouldn't be taken seriously.

Lillie Said:

really really need help with case study economics please any advice!!!?!?!?!?

We Answered:

Is there a local business that has expanded noticeably over the last few years? Businesses presently trying to fill vacancies through the local media could be hoping to grow? Alternatively, do you know any friends or relatives that have recently lost their job with a business due to a takeover, bankruptcy or branch closure. If so, could you compare it with a firm in the same industry that has survived? These dynamic firms would make for a more interesting study than one where business is fairly stable. Is there some gadget that you love that could not have been bought 8 years ago? If so, perhaps you are typical of a new wave of demand that certain firms are catering for.

Dustin Said:

urgent help please (case study) economics?

We Answered:

A) the government spending will cause the demand in the stock market to shift to the right, the price of stock will increase. But that is an inflated price, because the economy in China is growing more than 10% right now already with the inflation rate over 3.9% compared to only 1.4% in the US. It will make the economy more heater and more pressure from inflation. The bubble in property market is being seen and growing. It will burst,soon enough after the second round of the US stimulus package.
B) Corn is inelastic. It will cause the supply to shift to the left,lead to higher price and less quantity. Total expenditure will increase because the % change in price will be higher.

Alicia Said:

Economics-Case Studies?

We Answered:

market is where you pay for stuff and do whatever you want with it

command is where bosses tell you what to do

tradition is that everybody does same thing as last year and there is no boss