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Survey for beggining Econ class


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#1
disso

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I might be mistaken but it appears I have a survey due tonight for Econ class. Anyone who would like to complete one of these tonight ( I think by 5:30am GMT Jan 20, 2010 actually) would be doing me a huge favor. Thanks in advance!!

Name (you can make one up if you like):

1. Are Monopolies a good or bad thing for consumers?

2. Is Minimum wage a good or bad way to help low-income families?

3. Is outsourcing (jobs moving to other countries) a good or bad thing for US citizens?

4. Does Price Gouging lead to price increases of necessities?

5. Does Greed, overall, help or hurt a society?

6. Do you make rational decisions?

7. Does everyone make rational decisions?
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#2
dsenette

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Name (you can make one up if you like): <---it's over there

1. Are Monopolies a good or bad thing for consumers?

Depends on how the monopoly came about. If it came about because the company is just that good at what they do (product making, innovation, and solid marketing skills) then a monopoly is a good thing, it's like economic Darwinism. the strongest survive. if the monopoly came about because of questionable practices (like bribes, intimidation, etc...) or because of preferential treatment by a government or other powerful entity, then it's bad. this type of monopoly doesn't have any inherent benefit for the consumer because they're not as big as they are because of a superior product

2. Is Minimum wage a good or bad way to help low-income families?
yes and no. it's bad because it encourages companies to simply meet a minimum pay scale and stay there.
doesn't encourage advancement. however it does help in that there is a base wage for menial jobs.


3. Is outsourcing (jobs moving to other countries) a good or bad thing for US citizens?

It's good for the most part. many jobs that get outsourced are jobs that weren't doing well here to begin with. it also allows a company to offer lower prices to consumers while helping the economy of a less developed country. of course it does remove jobs from the american job pool, but if american's can't compete for price then it's not economically sound to keep the jobs here

4. Does Price Gouging lead to price increases of necessities?

not sure i understand this question. but price gouging is bad m'kay.

5. Does Greed, overall, help or hurt a society?

uncontrolled/unregulated greed has destroyed the global economy more than once. the basic concept of "greed" (i.e. try to get as much as you can as fast as you can) CAN have benefits but they're usually short term

6. Do you make rational decisions?
most of the time

7. Does everyone make rational decisions?
everyone has a different definition of rational. so i would say that yes, everyone makes decisions that seem rational to them. otherwise they wouldn't make that decision (even impulsive people rationalize their decisions to themselves before they make them)...correct or educated decisions? that's another story
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#3
disso

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Hey thanks for the answer. I do enjoy reading the answers to the questions, but if anyone else would happen to be thinking about doing this tonight very simple answers are ok too.
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#4
Troy

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Name (you can make one up if you like): Look left as well

1. Are Monopolies a good or bad thing for consumers? Well it depends, I mean if I can get Park Lane and Mayfair quickly then usually it turns out pretty bad for everyone else... Also I like to get all 4 train stations... wait whut?

2. Is Minimum wage a good or bad way to help low-income families? Bad, it means I'm stuck.

3. Is outsourcing (jobs moving to other countries) a good or bad thing for US citizens? If we outsource the work to the US, then that would be good for them. If they outsource to us, then it would be bad for them.

4. Does Price Gouging lead to price increases of necessities? I truly don't know what this is.

5. Does Greed, overall, help or hurt a society? Hurt

6. Do you make rational decisions? Ummmmm, aaahhhhh, define rational? I think so.

7. Does everyone make rational decisions? No, otherwise jails wouldn't be necessary.
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#5
dsenette

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1. Are Monopolies a good or bad thing for consumers? Well it depends, I mean if I can get Park Lane and Mayfair quickly then usually it turns out pretty bad for everyone else... Also I like to get all 4 train stations... wait whut?

stupid australian board games....there's no such street as park lane or mayfair...
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#6
Troy

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Actually the Australian version doesn't have them... I don't remember what it's got. That's the England version.
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