Using either a graph or table (Refer to page 22 for help with graphs and tables) use two goods to construct a production possibilities curve. Clearly explain what a variety of different points on the curve mean. What would make the curve expand or contract? Why is efficiency lost at the extremes, as when substantially more of one good and very little of another is produced? I am currently self-employed and deal with online sales on a daily basis. My business is based on sales at eBay and Amazon, I have multiple products that I buy wholesale and sell at retail price.
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I would like to choose the situation where orders are to be prioritize based on the quality of the order and how I decide which order are to be taken cared of first. For example what I mean is when I get order a lot of them can include different quantities of the same product and also they can include different products combined in one order. In the case where I am running out of stock which rarely happens but as we all know sometimes it happens, I have to make the decisions on which orders to cover with the amount of stock that I have in that product.
So if I have 20 orders to fill and only have enough product to fill X amounts f orders I would normally prioritize the orders that have the most product in them, per say an order of 6 bottle of the product that I sell which is called Bully Max, I would rather fill the bigger order because of the simple fact that they mean more profit and a more potential customer as well. This behavior causes problems and one that comes to mind is efficiency, when operating at high volumes it is lost. This is because sometimes when having to much to do one looses focus and fails to deliver the best possible customer service ultimately affecting the business.
The customers re expecting to be treated equally and if they pay for the product and do not receive it in time they will be very upset and perhaps not buy from again affecting my business negatively. Problem #2 Part A: Go to the internet auction site [email protected] at www. EBay. Com and select the category Jewelry and Watches, followed by Loose Diamonds and Gemstones, and then Diamonds, Natural. How many natural diamonds are for sale at the moment? Note the wide array of sizes and prices of the diamonds. In what sense is there competition among the sellers in this market? How does that competition influence prices?
In what sense is there competition among buyers? How does that competition influence prices? At the time I checked, there where 771002 listings under natural diamonds. As the McConnell, C. , Brute, S. , & Flynn, S. (2012) explains that shift to the right, as from S 1 to S 2 in Figure 3. 5 , signifies an increase in supply’ (p. 53). This is exactly what would happen in this case because as the supply of the diamonds goes up , the curve will be shifted to the right, and will also decrease prices. As more members Join eBay. Com it meaner that there are more buyers and this will automatically increase the demand of these goods as well.
Also explain on (p. 50) on the McConnell text. Problem #2 Part B: Describe what would happen if an outside agency determined the prices eBay could charge. It is very unlikely that this would occur, because members of eBay who sale products on the site usually if not always own the product being sold, therefore no one should be able to dictate the price at which owned goods could be sold for. In the rare case that this was to happen, it would control the quantity of demand for the goods whatever they are, in this case the natural diamonds.
So when prices are set high the demand goes down and when the prices are set low the demand increase, so it is relative to the market. McConnell, C. , Brute, S. , & Flynn, S. (2012) explains that, “change in quantity demented is a movement from one point to another point from one price-quantity combination to anotheron a fixed demand curve. The cause of such a change is an increase or decrease in the price of the product under consideration” (p. 53). So as I stated above everything is relative to the market demands at that particular point in time.
Problem #3: Read the “LAST word” feature on markets for human organs on Page 66 of your text. Next, select a social problem where free markets are not allowed to function and describe how free market tortures could be introduced to help alleviate the problem. As part of your answer also include a discussion of the risks of introducing market mechanisms in situations where ethical issues are present. Your answer should be approximately two pages long and in PAP format. I would like to talk about prescription drugs. It is a very big problem in our society now days, people are getting addicted to these drugs more and more every single day.
The reality is that these drugs are extremely harmful and more addicting than anything else out there. Some medications have psychoactive (mind-altering) repertories and, because of that, are sometimes abusedthat is, taken for reasons or in ways or amounts not intended by a doctor, or taken by someone other than the person for whom they are prescribed. In fact, prescription and over-the-counter (ETC) drugs are, after marijuana (and alcohol), the most commonly abused substances by Americans 14 and older (Prescription drugs).
This is a growing problem in our society and not until recently here in Florida there was no way of tracking how much patients where being prescribed, this brought a lot of people who live out of state to come in and visit multiple pain clinics and obtain as many filled restrictions as possible since the doctors where prescribing so many pills for any injury to Just collect the money. This is a problem and even though it has been forcefully intervened there are still clinics dispensing these drugs left and right pretty much killing people or worst making them desperate addicts.
The government needs to stop this because our offspring will be growing in a they are medical grade. These drugs are good don’t get me wrong, but only for the correct purpose for example people who have real pain due to injuries, and they should not be prescribed in the amount that they do. I have know people who have en prescribed up to 300 painkillers per month, “300”, this meaner that it was totally k with the doctor that this person consumed 10 pills per day which usually leave you totally impaired and inoperable at those doses.
The governments needs to concentrate on this particular problem and get it under control instead of investing so much of our money on trying to make other less harmful substances illegal and worry about the ones that are legal but are being miss prescribed and making the population dependent of these drugs. The drug companies are mainly guilty of this outbreak of pill addicted patients, hey have medications for every single thing you can imagine, and I mean anything.
If you feel weird in the morning, they have a pill for that, if you feel a bit sad they have a pill for that, if you get upset a lot they have a pill for that, if you can’t concentrate they have a pill for that. The point that I am trying to make is that these companies invest up to 1 billion dollars and 8-12 years to develop a new drug (Lips & Sharp). This is why they push and push for every single possible opportunity to make the consumer addicted to such medications so that they can get their initial investment back and make tons of profit before the patent expires.