What I've learned
1. Government transfer payments are not included when calculating government purchases.
2. Barter transactions, housework, and do-it-yourself home repairs are examples of nonmarket activities.
3. indirect taxes are taxes included in the final price of goods and services.
4. The process macroeconomists use to track production, income, and consumption is known as national income accounting and provides information about a country's economic activities.
5. War is an external factor that can affect the business cycle.
6. Business cycles are fluctuations in a market system's economic activity.
7. Lagging indicators change months after an upturn or downturn in the economy has begun.
8. Without long-term economic growth, a country's standard of living decreases.
9. A country's tax base expands when economic growth exists.
10. The amount of capital stock per worker is called capital-to-labor ratio.
Thursday, December 23, 2010
Monday, December 20, 2010
Post 9
"How Technology Makes the
World a Better Place"
We have all come to rely on technology for just about everything and would be lost without it. Technology, like the internet, keeps everyone up to date, knowledgable, and organized. If the internet did not exist today we would not be able to do the things we do today to learn in school. Web sites like Prezi, Zooburst, and Study Stack help students learn in various ways and make learning easier for many too. Technology is used to learn, play, or make anything you desire. The possibilities are endless with today's technology and it’s only becoming more advanced each day.
Post 8
Malcolm Gladwell on the Spaghetti Industry
In this video Gladwell made several good points to what people want and how they don't really know what they want until they try it. Also, he talked about Howard Moskawitz who was a man who helped food businesses succeed in the market. He would let them know what the people like by conducting experiments and polls.
Companies compete in this way all the time! They try to come up with new and better ingrediants that the mass population will enjoy. They try to raise demand for their product and make it seem better than the rest. If the prices are close between two similar products, most people will go with the higher priced one, assuming it is of higher quality. It is somewhat of a trick that businesses use to get people to get there product sold. These businesses are competeing over something other than price, which is Monopolistic Competition.
Video:
http://www.ted.com/talks/malcolm_gladwell_on_spaghetti_sauce.html
In this video Gladwell made several good points to what people want and how they don't really know what they want until they try it. Also, he talked about Howard Moskawitz who was a man who helped food businesses succeed in the market. He would let them know what the people like by conducting experiments and polls.
Companies compete in this way all the time! They try to come up with new and better ingrediants that the mass population will enjoy. They try to raise demand for their product and make it seem better than the rest. If the prices are close between two similar products, most people will go with the higher priced one, assuming it is of higher quality. It is somewhat of a trick that businesses use to get people to get there product sold. These businesses are competeing over something other than price, which is Monopolistic Competition.
Video:
http://www.ted.com/talks/malcolm_gladwell_on_spaghetti_sauce.html
Friday, December 10, 2010
Post 7
The 4 varieties of Monopoly
1.natural- one variety of natural is the gas you use to run your car.
2.geograhical- an example of this is a general store in a remote area.
3.technological- an example of technilogical would be Google or any other search engine.
4.government- the U.S. Postal Service would be one example of this.
1.natural- one variety of natural is the gas you use to run your car.
2.geograhical- an example of this is a general store in a remote area.
3.technological- an example of technilogical would be Google or any other search engine.
4.government- the U.S. Postal Service would be one example of this.
Thursday, December 9, 2010
Tuesday, December 7, 2010
Post 5
GE Should Be Broken Up
I believe GE should be broken up. They are a major business that is well known for making everything from refrigerators to cell phones. If they were to be broken up more smaller businesses would be able to be noticed. Therefore, prices would drop on some of those neccessities like water systems and washers and dryers. Families would be able to save a BOAT LOAD of money!
I believe GE should be broken up. They are a major business that is well known for making everything from refrigerators to cell phones. If they were to be broken up more smaller businesses would be able to be noticed. Therefore, prices would drop on some of those neccessities like water systems and washers and dryers. Families would be able to save a BOAT LOAD of money!
Friday, December 3, 2010
Post 4
8 things learned
1.Pure Competition is an ideal market structure.
2.Under Pure Competition, sellers offer identical products.
3.If sellers compete on factors other than price, they are engaging in nonprice competition.
4.Oligopoly is the most common non-competitive market in the U.S.
5.Collusion sellers secretly agree to set prices or levels for their products.
6.The Federal Trade Commission Act was passed in 1914 to investigate charges of unfair methods of competition and commerce.
7.Standard oil was the best-known monopoly to be broken up as a result of the Sherman Antitrust Act.
8.Another word for the huge monopolies that dominated the era of "big business" is trusts.
1.Pure Competition is an ideal market structure.
2.Under Pure Competition, sellers offer identical products.
3.If sellers compete on factors other than price, they are engaging in nonprice competition.
4.Oligopoly is the most common non-competitive market in the U.S.
5.Collusion sellers secretly agree to set prices or levels for their products.
6.The Federal Trade Commission Act was passed in 1914 to investigate charges of unfair methods of competition and commerce.
7.Standard oil was the best-known monopoly to be broken up as a result of the Sherman Antitrust Act.
8.Another word for the huge monopolies that dominated the era of "big business" is trusts.
Thursday, December 2, 2010
Post 3
5 Things and their Market Structure
1. Running Shoes-Monpolistic Competition- There are a lot of different companies that make running shoes. They have some control over price and they each try to put emphasis on their brand names. It would be pretty easy to start in the business.
2. Car-Oligopoly- Their are few number of car companies that are well known and it would be extremely difficult to start in this business. They typically try to give you a great deal.
3. Electricity-Pure Monopoly- There is only one company that is well-known and it would be impossible to start in the business. It is a public relation.
4. Clothes-Monopolistic Competition- There are a lot of different clothes brand, which try to put emphasis on their brand name. It would be easy to start in the business.
5. Farmed Goods- Pure Competition- Their is a very large number of firms which produce this. They have no control over price and it would be very easy to start in the business.
1. Running Shoes-Monpolistic Competition- There are a lot of different companies that make running shoes. They have some control over price and they each try to put emphasis on their brand names. It would be pretty easy to start in the business.
2. Car-Oligopoly- Their are few number of car companies that are well known and it would be extremely difficult to start in this business. They typically try to give you a great deal.
3. Electricity-Pure Monopoly- There is only one company that is well-known and it would be impossible to start in the business. It is a public relation.
4. Clothes-Monopolistic Competition- There are a lot of different clothes brand, which try to put emphasis on their brand name. It would be easy to start in the business.
5. Farmed Goods- Pure Competition- Their is a very large number of firms which produce this. They have no control over price and it would be very easy to start in the business.
Wednesday, December 1, 2010
Post 1
This is my Intro! My name is Dylan and I am being forced to do this blog by Mr. Campbell. My favorite hobby is to run. I run for my high school team and plan to run in college. This blog is basically about Economics and the four market structures. It will give you an understanding for the different traits of each of the market structures and how they work. Good bye... and enjoy the blogger.
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