Title Maastricht University School of Business & Economics Place & date: Kerkrade 24-11-2015 Surname, First name: Vermeulen, Erwin For assessor only ID number: I6115969 1. Content Study: Economics and business economics 2. Language structure Course code: EBC1010 3. Language accuracy Group number: 18 4. Language: Format & citing/referencing Writing tutor name: Lawrence, C (Clive) Overall: Writing assignment: Main Paper (Task 10) Advisory grade Writing assessor’s initials Your UM email address: elh.vermeulen@student.maastrichtuniversity.nl First, the paper discusses the allegations made against Gazprom. Second it considers the welfare and analyze how Gazprom affected this. Then it discusses … To conclude, the paper reviews how Gazprom’s case affected its consumers. X The allegations One of the first allegations the European Commission made against Gazprom is concerned with Gazprom forbidding the resale of their gas (Riley, 2012). X This means that Gazprom sells their gas to their customers, but Gazprom’s customers are forbidden from selling their gas to other companies; they may only sell it to the customers. The Gazprom-customers have to take the quantity of gas that they have …show more content…
Monopolies are not good for the economy for several reasons; there will often be higher prices, lower quality products and more. For gas it is hard to get a better quality, it is a homogeneous market, all products are the same. But there are some characteristics of a Monopoly that are applied in this case. First, the price of gas. Because Gazprom is a monopolist it is easier to change the price, since there are no competitors in their area and barely any reasonable substitution good. Because of the lack of substitution and the fact that people cannot afford to not buy gas, Gazprom will be able to increase their producer surplus which will result in a decrease of the consumer
Monopoly is not just a board game people play for fun, monopolies became powerful and affected the late 1800’s and early 1900’s. Monopolies are the exclusive possession or control of the supply or trade in a commodity or service. Basically, monopolies are firms that have a lot of market power. They greatly controlled industries and played a role in the government, such as helping president President Benjamin Harrison. Monopolies dominated their own industries and were huge for the industrial period in the United States.
Ravisankar begins his essay by talking about how consumers are constantly emphasizing finding lower prices and that means using sweatshop labor. The problem he identifies is as consumers in Western countries try to find lower prices, we are not helping sweatshop laborers escape their low standard of living. Ravisankar assumes his readers are unaware consumers in Western countries. His purpose in this essay is to educate his readers about the problem of brands’ exploiting their workers. In order to accomplish this purpose, Ravisankar appeals mainly to consumers to pay a higher price to help “improve the lives of sweatshop workers.”
This leads to consumers looking for cheaper substitutes for the product from other companies. Not only that, but with no competition, the value may go down if the prices are too high or too low. The consumer may not have the resources to purchase any other brand of the same product, but is forced to only purchase from the first company it came from. When the prices of oil go sky high, those who live in poverty may have to use every dime, nickle and penny that they have just so they can have the oil they need. It gives those who are struggling more pressure and tribulation.
Throughout the term in BPBE 272 there has been many important skills I have learned to help me pursue my goal in University. I have learned all key concepts of economics and also learned how to use them in my everyday life. This class has gave me tremendous help on how to look at the world in the way an economist does. You have taught us in a way that did not require us to just memorize the material but to actually take the time to learn about the information we are given. I will explain the main points I have learned in this class, what it means to have learned all of the information, How I have changed my perspective on economics, how I can apply my knowledge in the workforce and why this course was so important to me.
I believe the government should break up monopolies. John D. Rockefeller and his monopoly of Standard Oil is the perfect example for why the government should break up monopolies. Rockefeller and his partners created secret deals with railroads and used intimidation to get other smaller oil companies to sell out to them. Also Standard Oil was the monopoly to create trusts which created problems for other small companies.
As we look throughout history, governments have implemented policies and are partially responsible for the denial of human rights to a certain group. These groups include Ukrainians and Rwandans. The denial of human rights in these regions not only affect those in the region but internationally. Both Ukrainians and Rwandans were denied their human rights. Ukraine’s hope and will was in the hands of the dictator Joseph Stalin.
“Is Wal-Mart Good For America?” affords viewers a thoughtful analysis into the dubious ethical methodologies employed by the Wal-Mart Corporation. Unquestionably, Wal-Mart is not infallible and their strict adherence to low prices has pushed other companies out of business. For example, Rubbermaid, as mentioned in the documentary, fell into Wal-Mart’s paradoxical low pricing trap and forfeited into a merger with a competitor.
Furthermore, the monopolies got rid of the competition so there was no competitive price point. This was not fair for the commoner because the businesses could change the cost of their products and people would have to pay what they charged. The United States has tried to remove all of the monopolies starting with President Theodore Roosevelt. Today there are practically no monopolies in the United States, but in two-thousand four Microsoft was sued for a monopoly of their product Microsoft Word, this was a very rare
COP21 which was held on Nov. 330 th 2015 and lasted two weeks aimed to devise a legally binding agreement to cap global temperature rises to under 2 degrees Celsius, below preindustrial levels. Negotiations and agreements which have been brewing over several years, were finally settled in a time efficient and effective conference, hosting 196 parties which all participated in the agreement to decrease the use of fossil fuels which result in the development of greenhouse gases by 2050. The agreement functions upon the framework that each nation is to establish a conformable and realistic reduction target individually, with no penalty present for countries which fail to abide by their self‐imposed targets. Wealthy developed nations like the United
This stock market crash along with overproduction and decreased consumer
Monopolies would coordinate with other businesses to set prices and to set policies. One example is the railroad monopoly. Cornelius Vanderbilt controlled several railroad companies and soared into wealth. With a monopoly over the railroads, he was able to cut out the middle man by reducing the power of the individual managers. John D. Rockefeller also controlled a monopoly only his was in oil.
ISBN: 978-0-314-28907-0 This text examined in-depth false claims and statements, bribes,
1. Introduction Income inequality has grown significantly during this past decades and this phenomenon continues to increase over the years. This problem is constantly discussed in the daily news all around the world. Several consequences of this increase of inequality between people leads to economic problems such as high unemployment rates, lack of work for young people, fall of demand for certain product. The gap between rich and poor is increasing, the rich are richer and the poor are poorer as a result politicians and economists try to adopt certain policies in order to reduce this gap.
Ratification by the Soviet Union necessitated the UN ignore the massacres of Russian bourgeoisie and “middle peasants.” Hence social class and economic status are conspicuously omitted from the convention as recognized motives for genocide. Although the UN definition is imperfect, it nonetheless represents international consensus and provides a legal framework for prosecuting the perpetrators of genocide. Gregory Stanton’s publication, “The Ten Stages of Genocide,” identifies ten critical phases during the enactment of genocidal killings. Summarized, these stages are: 1.