Eco 365 Week 4 Reflection Essay Example
Team Reflections
ECO/365
August 5th, 2013
Team A felt that week four was a little overwhelming, but we certainly looking forward to moving forward. Collectively, we felt week three and its material was a lot to handle and an abundance of information. Week four's objectives were less complex then the previous weeks and we felt more comfortable with each of the objectives. The material for week 3 was just easier to relate to. The discussions with classmates and our team were more engaging and the objectives seemed more relatable to many of our jobs and businesses. This week’s discussion included researching externalities (positive and negative), merging (vertically, horizontally, spin offs) along with government intervening.
An objective that Team A felt the most comfortable with is the effects of externalities on market outcomes. The text describes externalities as the effects of a decision on a third party that is not intended. There are two types of externalities; positive and negative. Negative externalities are those that cause damage to others while negative externalities benefit to others. Negative externalities may have consumers spending differently and does not stimulate the market. Positive externalities such as education benefit the market.
An externality is nothing short of an effect of a choice on a third party that is not taken into account by the main decision maker. One example of an externality would be a new Target store being opened in an area. It is up to the company as a whole to determine where to place the new store. Location is extremely important. It is known that the Target corporation certainly will not consider every single alternative. Some of the nearby businesses could experience heightened sales because of the many people that Target store will bring to that particular area. A negative externality is considered negative when the decision will affect those outside of that decision. The
ECO/365
August 5th, 2013
Team A felt that week four was a little overwhelming, but we certainly looking forward to moving forward. Collectively, we felt week three and its material was a lot to handle and an abundance of information. Week four's objectives were less complex then the previous weeks and we felt more comfortable with each of the objectives. The material for week 3 was just easier to relate to. The discussions with classmates and our team were more engaging and the objectives seemed more relatable to many of our jobs and businesses. This week’s discussion included researching externalities (positive and negative), merging (vertically, horizontally, spin offs) along with government intervening.
An objective that Team A felt the most comfortable with is the effects of externalities on market outcomes. The text describes externalities as the effects of a decision on a third party that is not intended. There are two types of externalities; positive and negative. Negative externalities are those that cause damage to others while negative externalities benefit to others. Negative externalities may have consumers spending differently and does not stimulate the market. Positive externalities such as education benefit the market.
An externality is nothing short of an effect of a choice on a third party that is not taken into account by the main decision maker. One example of an externality would be a new Target store being opened in an area. It is up to the company as a whole to determine where to place the new store. Location is extremely important. It is known that the Target corporation certainly will not consider every single alternative. Some of the nearby businesses could experience heightened sales because of the many people that Target store will bring to that particular area. A negative externality is considered negative when the decision will affect those outside of that decision. The