COMPETITIVE ANALYSIS

Competitive Analysis

Competitive Analysis

Term Paper Questions

What is the biggest cost of going to college full time?

Ans. The biggest cost of going to college is the income decline,not the money spent on tuition and books that is to say going to college generally earnings sacrificing a full time salary and this salary is the chance cost for studying in a college.

Doing more with less means fewer jobs and therefore is good/bad?

Ans. It is a fact that doing more with lesser damages several jobs, but that doesn't mean less employment opportunities. As of shortage, there are always more jobs we would like done than can be done. There is no limit to the products and services we would like to use, and the whole thing we consume has to first be produced. So there are actually too many possible jobs, and the issue is not providing people with jobs but providing them with the jobs in which they produce the maximum value. This approach may also release up an entire new world of potential that haven't been considered.

“Market economies are triumphant for the reason that they let us make the greatest use of the knowledge compulsory for social assistance. They do so by allowing that information to be communicated from those who have it to those best able to act on it with messages containing the information motivating people to respond appropriately and providing them the means to do so”. Explain the meaning of the 3 M's and what the quote means.

Ans. Any successful economy has to be a method of messages, motivation and means. And no economic system incorporates these three M's as efficiently as the market economy.

Market economies permit the greatest information to be communicated from those who have it to those best able to act on it, with the ...