WGU EGT1 Task 3 Student# In this essay I will discuss a few terms and how their relationships apply between regulation and market structures‚ as well as how regulation policies affect the market. A) There were 4 particular Antitrust Laws that were enacted with the primary purpose of protecting consumers‚ striving to achieve fair competition in the market place‚ and to achieve and allocate efficiency. The 4 Antitrust Laws that are major pieces of legislation are; The Sherman
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Jacob Moser EGT1 – Task 309.1.3 Student #000197021 EGT1 Task 309.1.3 Government regulation in business today is vital because it attempts to create a level playing field for companies competing against one another and regulate honest business practices toward the consumers. It is important to for any business to understand how government regulation affects their industry and how they intend to run their company. Industrial regulation is the government regulation of an entire industry. The
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Antitrust Laws There are 4 major acts created that are known as the Antitrust Laws. In the 1870’s and 1880’s‚ the Sherman Act of 1890 was created. This act made monopolies and conspiracies that tried controlling trade a criminal offense. This act exists with 2 provisions‚ the 1st is that every contract‚ blending in the form of a trust or otherwise‚ or attempt to conspiracy‚ in limit of trade or market among several States‚ or with distant nations is acknowledged to be unlawful.” nd The 2 states
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4. Discuss how marketing policies and procedures may impact on the marketing activities conducted. Most appropriate marketing activities How marketing policies and procedures may impact on the marketing activities 1. Development and contribution of samples‚ case‚ studies‚ testimonies and other evidence of enterprise activity Ethical principles: when designing and distributing the samples and testimonials we need to tell the truth to customers‚ make are the information provided are the original‚ honest
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A. Discuss elasticity of demand as it pertains to elastic‚ unit‚ and inelastic demand. Elasticity of demand is gauged by the percentage of change in demand when the price of an item varies. If the change in the quantity demanded is greater than 1 the demand is elastic. Elasticity of demand is calculated by ED=quantity demanded/decrease in price. If you reduce the price of milk by 6%‚ and that causes an increase of quantity demanded by 9% the demand for milk is elastic (ED= .09/.06 = 1.5).
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physical assets of another competing business. B. Government imposed antitrust acts/industrial regulations are to protect consumers of an industry’s actions pertaining to price and quantity preventing a monopoly to that end benefiting society. B. 1. Oligopoly industries having a few large firms gain market power. In oligopoly industries government regulation and enforcement of industrial and social regulation curtail the few firms controlling the market from the possibility of setting unfair prices
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To: Company G CEO Date: February 20‚ 2013 Re: Comparing Company G against industry average The first ratio calculated was current ratio. This is done by dividing current liabilities by current assets. Current ratio is important because it shows the business’s ability to pay back the current liabilities with the current assets that they have available to them. At the end of 2011‚ the current ratio was at 1.86. In 2012‚ this ratio dropped to 1.80. The industry ranges from 3.1 (showing a strong
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application in everyday life. They also directly impact the business person in daily decisions. Task: A. Define the following three terms: 1. Elasticity of demand 2. Cross-price elasticity (include substitutes and complements) 3. Income elasticity (include normal and inferior goods) B. Explain the elasticity coefficients for each of the three terms defined in part A. C. Contrast the terms defined in part A. 1. Explain the significance of differences among the three terms you contrasted in part C
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Elasticity: The real stretch play. We have all heard the phrase‚ “Stretch your dollar”‚ but have you ever stopped to consider what all goes on behind the scenes in order to make this stretch occur? What rules of economics and finance play into making your hard-earned dollar stretch to its maximum value? While the topic of stretching your money spans across all areas of business‚ finance‚ and economics‚ I will focus on the fundamental principle of economic stretch; elasticity. Elasticity in economics
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Losing Face. October 4‚ 2010. http://www.nesochina.org/dutch-students/preparing-your-stay/social-norms (accessed December 11‚ 2011). Economy‚ Macau. "Macau ’s Economy Grows 21.8 percent from January to September." Macau Hub Magazine on line. December 1‚ 2011. http://www.macauhub.com.mo/en/2011/12/01/macaus-economy-grows-21-8-pct-from-january-to-september/ (accessed December 11‚ 2011). Gao‚ Kane. "Public Relations and Strategic Communications." Illuminant A Source of Light. January 17‚ 2011. http://www
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