By the government raising minimum wage, this will force owners to compensate with their employees. This could result in letting employees go, giving employees very limited hours or cutting down the owners pay. Whichever way it goes, this is a downfall to the economy because people will end up losing their jobs, businesses will lose money which would decrease total profit and it could result in the closing of businesses and
A possible deterrent for newcomers is the low margins and the excessive amount of companies already established in the industry. On the other hand the success of the business fluctuates. When signing a contract for staffing with a big company as Strataforce did for COTY, they highly depend on those companies. Ending contracts can cause trouble. Therefore it is important to diversify the Business
Obamacare and medicare should be repealed. Being fined for not paying for an insurance you can not afford because of the obamacare and affordable care act is wrong in many ways and just another way that obamacare knocks our nation down one step at a time. It has made taxes of those in the middle class and upper class rise and cost more money for the insurance provided to the people after taking away their original insurance plans. Obamacare is not free insurance it is costing the people in the nation hurting those who have to pay more just to support the lower class
The minimum wage should not be raised because it would increase the price for the consumer, it could harm the small businesses of America, and it could cause millions of minimum wage workers to be laid off. If the minimum wage were to increase, consumers could see a rise in prices in their products. A majority of minimum wage workers are in a high competitive market, where the companies make smaller profit. In order for companies to
Child labor is something people in the United States might think of as awful, but for families in countries like China it is a way of life. Name brand companies, for example Nike, have their products made overseas often using children to do the work. The use of child labor in other countries for Nike brings up the debate on whether or not the United States should buy products that have been produced by children. The United States should not buy products manufactured with the use of child labor because of the unfair wages they get paid and bad working conditions. Some may argue that by putting children to work it is lowering the unemployment rates in countries, the morals of buying products produced by young teenagers is just flat out wrong.
Therefore, these immigrants who were making pennies on the dollar compared to their US counterparts would be willing to work for wages that are higher than in their home country but lower than what US citizens are paid. This wage effect could be even more prominent for illegal immigrants, whose illegal status could be exploited for even lower, increasingly even illegally low, wages. Thus, if massive amounts of immigrants were to immigrate to the US, citizens workers would be laid off or forced to accept lower wages because of this influx of cheap labor. Additionally, there is a fear that because the typical immigrant is impoverished, the US welfare system would become overburdened by an increased demand. Citizens would be suffer through longer waiting periods and as resources, that were once for US citizens, are redirected to accommodate
Naturally, as demand dissipates, prices also decrease—thus the law of supply and demand. It is important for entrepreneurs to note that the laws of supply and demand work best in competitive markets. When businesses are competing with one another, they try to attract consumers by lowering prices, improving quality, and developing new products and services (Mariotti, 2000, p. 69) Government regulations, or anything else that keeps entrepreneurs from entering a market, will make the market less competitive. Less competition leads to higher prices, poorer quality, and fewer new products and services (Mariotti, 2000, p.
Muslim are having halal food which is the food that comply with Islamic Law and do not contain any pork ingredients (KFC Malaysia, n.d.). KFC Malaysia has sincerely applied and get the halal certificate from government in order to prove that KFC Malaysia is offering halal products and services. KFC Malaysia has also display halal logo on all the packaging products to let customers aware that products offered by KFC Malaysia is halal (KFC Malaysia, n.d.). Therefore, the basic beliefs and values of particular society which is Muslim has affect the types of the products and services provided by KFC Malaysia, so KFC Malaysia has decided to offer halal products and services that can be used to satisfy every customers with different cultures, as every customers no matter Malay, Chinese or Indian can all having halal food. Thus, Malaysian can having their meal at KFC Malaysia as well as KFC Malaysia is able to satisfy the needs, wants and demands of Malaysian and build long
Navajo Nation has decided to apply an indirect tax of a 2% on the price of junk food, an inelastic product. Junk food is a demerit good with negative externalities and therefore the government wants to decrease the quantity demanded. In this case the tax applied is an Ad Valorem tax as it is a percentage of the price. Introduction to the theory: An indirect tax changes the structure of a market provoking an increase in prices and a decrease in the quantity demanded and supplied. However the effect of the tax varies depending on the price elasticity of demand.
There is a risk of loss of talent and skills, since a great amount of university graduates are unable to find a job and put their knowledge and capabilities into producing innovation and contributing to economic growth. Furthermore, having a large share of the young workforce unemployed, not only leads to reduced productivity and gross domestic product (GDP), it also increases the economic costs for the country, since there is a need for more money to be paid out on social grants and less money coming in from taxes. High unemployment rate also pose as a threat to the safety and security of Gauteng province, youth are most likely to resort to other measures such as