1. According to Robert Reich, what is the goal of a business? a. Preserving the environment b. Creating and adhering to corporate social responsibility guidelines C. Generating profit 2 True or false Simpson argues global corporations enhance economic freedom and their powe
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- 85. All of the following would be government solutions to externality problems EXCEPT: a.public sector charities. b.taxes and subsidies. C. command and control. d.tradable allowances. 86. Control of the media does not enable special interest groups to control the government for their own ends. a. True b.False 87. Studying politics doesn't pay because the outcome of any election: a.is mostly determined by what other people do, not by what you do. b.is mostly determined by what you do, not by what other people do. c. is always inconsistent with the expectation. d.can be manipulated by politicians.11. In 2022, Ibram X. Kendi, author of “How to be an Antiracist” informed Valencia College that he would join your economics professor in a moderated discussion – for one hour – and for a fee of $30,000. Who would argue that such a price is not only appropriate, but, if agreed to, would have created benefits for both parties in the transaction? a. John Locke b. Adam Smith c. Ibram X. Kendi d. The author of “I, Pencil” e. All the above.1. What is market failure? Explain in your own words. 2. Why do markets fail. List two reasons and explain them in your own words. 3. Explain what an external effect (also known as an externality) is in your own words. 4. List four examples of externalities 5. Explain what a social dilemma is and list one example of a current social dilemma.
- 1. What makes a certain behavior unethical? * a.If it might cause harm to yourself. b.If it might cause too much happiness to others. c.If it might cause confusion to others. 2. A normative study of ethics, as is often done in philosophy or moral theology, engages the question: What could or should be considered as the right way of acting? Identify a good example that could illustrate what normative study of ethics is a .Ethics is based on the primitive practices of humans. b. Ethics is based on existing doctrines and tells us what is the prescribe human behaviors. c. Ethics is based on religious practices 3. What makes rule necessary for peace and order? * a.Rule forces people to comply with societal standards. b.Rule organizes moral development of the members of society. c. Rules guide people to do what they want and need to do. 4. Which of the following is a moral issue? a. A student finds naked painting offensive. b. A student confuse about his/her career. c. A student…Q35 Which of the following phenomena is NOT an example of market failure? a. A positive externality. b. Diminishing marginal returns. c. Moral hazard. d. Asymmetric information. e. Public goods.What is free rider problem and under which condition does it occur? Explain with an example.
- 1. Choose one of the approaches listed below for protecting elephants from poachers in African countries. A. The government sets up enormous national parks that have sufficient habitat for elephants to thrive and forbids all local people to enter the parks or to injure either the elephants or their habitat in any way. B. The government sets up national parks and designates ten villages around the park's edges as official tourist centers that become places where tourists can stay and bases for guided tours inside the national park. 2. Depending on the approach you have chosen (A or B), explain how the incentives will affect the local villagers, who are often very poor. 3. Which approach (A or B) seems more likely to help the elephant population?4. Discuss the practice of poaching elephants and the need for environmental protection? 5. Explain how the practice of poaching elephants is a negative externality?Does the economic model or socioeconomic model of social responsibility make more profits? And why?Next question Which of the following is an example of a positive externality? A. A lower inflation rate would benefit most consumers. B. Compulsory flu shots for all students prevents the spread of illness in the general public. C. Promoting generic drugs would benefit people. D. Singapore has adopted a comprehensive savings plan for all workers known as the Central Provident Fund.
- John Stossel’s Video “GREED,” by ABC News. 45-minute videoGreed (ABC 20/20 - 1998) (with English subtitles) - YouTube 1. If greed in some measure seems to be a rather universal characteristic, is it possible channel or directit to achieve good results or socially acceptable ends? Explain .2. The poet John Donne said “No man is an island, entire of itself; every man is a piece of the continent,a part of the main...” As you recall Mr. Stossel’s steak dinner, explain what would undoubtedly happento your personal standard of living if you were live a completely self-sufficient life-style? What wouldyou spend most of your time doing? 3. Would it ever be logical – be in your best interest to turn down a pay raise? 4. Explain how people respond to incentives and how markets turn self-interested behavior to thebenefit of consumers.B. The figure below shows the market for education. 20 S- MSC: 12 MSE D- MD 2 4 10 Quantity (millions of students per yeorl i. 'Education has externalities'. Explain this statement. ii. If the market is competitive and left unregulated, how many students will be enrolled per year? Are the resources allocated efficiently when such number of students are enrolled per year? Explain using the graph above. iii. In the figure above, what kind of government intervention is required to achieve the optimal or efficient number of students? What is the optimal number of students? How much intervention needed to achieve the optimal number of students? luian arc cost lihousa-cs of delan per stdentwhat are 2 assumptions that underline the conclusion that free market are efficient?