Monopoly Term Paper Essay Example for Free

Monopoly Term Paper Essay Monopoly is a market structure containing a single firm that produces a unique good with no close substitutes. It controls supply of a good or service. It is where the entry of new producers is prevented or highly restricted. According to the Business Dictionary, monopolist firms keep the price high and restrict the output, and show little or no responsiveness to the needs of their customers. Most governments try to control monopolies by imposing price controls, taking over their ownership (nationalization), or breaking them up into two or more competing firms. Monopolies exist in varying degrees (degrees (due to copyrights, patents, access to materials, exclusive technologies, or unfair trade practices) almost no firm has a complete monopoly in the era of globalization. So we can see the problem of monopoly is that it can set a higher price than marginal cost. The fact that a monopoly does not face the discipline of competition means that the monopoly may operate inefficiently without being corrected by the marketplace. An example for monopoly might be Comcast. If Comcast were the only cable television provider in your area. If you want cable, you have no choice but to go to Comcast. And because of this, they can charge any price they want. Other local electric power company, campus bookstore or local telephone service might be local monopolies as well. George J. Stigler, director of the Center for the Study of The Economy and the state, professor of economics at the University of Chicago states that a monopoly is free to set any price it chooses and will usually set the price that yields the largest possible profit. There are three problems that often associated with a market controlled totally by a single firm such as inefficiency, inequity and political abuse (AmosWEB Encyclonomic). Inefficiency is the most noted problem in monopoly. A monopoly charges a higher price and produces less output than perfect competition. Also, the price charged by the monopoly is always greater than the marginal cost of production. Income inequality is another problem of monopoly. Monopoly earns economic profit, consumer surplus is transferred from buyers to the monopoly. So buyers end up with less income, and the monopoly ends up with more. Monopoly is able to maintain single-seller status and market control, income continues to be transferred from buyers to the monopoly and to the monopoly resource owners.

Ethical Issues of Human Test Subjects Essay -- Radioactive Technology

Ethical Issues of Human Test Subjects As we achieve burgeons of new technologies, we must also face the irreprehensible sacrifices. The old scientific adage reminds us that no trial can go without error. Many of the present day technologies may prove beneficial but the processes of development and discovery often come at high prices. Countless experiments have been conducted in the names of science and the advancement of mankind. Regardless of their outcomes, these experiments require some form of a test subject. Any life sustaining test subject has been the root of many ethical issues, with human test subjects being one of the most controversial. Granted the advantageous products of labor, the definition for what we, as moral humans, are willing to sacrifice still lays a little rough. One of many ethical dilemmas arises when we question as where to draw the line for human test subjects. Test subjects are not always guaranteed the safety of their outcomes and this generates a lot of debate to what extent we are prepared to tolerate for the sake of advancing technology. The past century has unveiled many new revels in science and technology. Nuclear technology is one of the more recent brinks of discovery. Over the past 60 years or so, scientists have been on a gold rush for the nuclear power. New elements were being discovered and the potentials of their peculiar characteristics drew in more and more people. Highly radioactive substances were being tested for their potencies at the subatomic level. The gain in this scurry for answers was partially politically charged, if not totally for educational purposes. The United States was amid the throng of countries entering the World War II. If one of the most ... ...ficiencies. This does not necessarily mean that the human resource can be misused. By maintaining a code of ethics in human experimentation, we can all advance forward. People should be willing to accept the risks involved in human experimentation, including death. Certain demographics or distinctions in people should not set them apart from a testing pool. With nuclear power and radioactivity as still relatively new ideas, the course of discovery has yet to be traveled. It is only up to us to be vigilant and consciously aware of our actions. References: 1.http://tis-nt.eh.doe.gov/ohre/roadmap/achre/chap7_5.html 2.http://www.dc.peachnet.edu/~shale/humanities/composition/assignments/experiment/fernald.html 3.http://the-tech.mit.edu/V114/N28/fernald.28n.html 4.http://www.gwu.edu/~nsarchiv/radiation/dir/mstreet/backgnd/exper/radhum.txt

Hawthorne Effect and Human Relation Movement

Describe how the components of the Hawthorne study are incorporated in current human resource functions? What was the main idea behind this study? How have you been impacted by the components of this study in your current or past work setting? According to Baack (2012), the human relation movement in management began in 1920s and was based on the human element of organizations. The Hawthorne study became one of the branches of the human relation movement (Baack, 2012) As stated by Cubbon (1969), the Hawthorne studies were carried out from the Hawthorne Works, a factory in Chicago.The idea of those studies was experimenting with psychological factors influencing the employees, while the goal was to increase the productivity levels (Cubbon, 1968). With time, the term became widely known, and many organizations conducted the similar studies. Elton Mayo and Fritz Roethlisberger have conducted the Hawthorne studies focusing their research on the employees and the aspects that influenced t he workers productivity (Baack, 2012).According to their findings, the productivity rates increased due to positive interactions between workers and researches, entry-level employees were actively fulfilling the duties of the supervisors without worrying about being disciplined for poor performance, and people started working closely in groups, while being loyal to one another (Baack, 2012). The research showed that workers are motivated not only by money, but also by social interactions, which should be accounted for at the workplace (Baack, 2012).Human Resources department of any organization should be focused on the workers. Its primary duties are to treat employees fairly and make sure that an organization gives back to its own people. Higher level of people’s satisfaction with the job will lead to the company’s success. It is necessary for managers to understand what makes the employees happier to increase the levels of productivity; that is why conducting the Haw thorne studies is important.For example, people in my department are not fond of each other; they do not like to work in teams and usually keep blaming each other for different mistakes. If our management arranged different experiments to understand the employees a little better and to find the root of the problem, the workers would eventually change their ways and views, which would lead to creating a better work environment.

The Importance Of The Arts At School - 1497 Words

Importance of the Arts in School People often view artistic activities as a leisure activity, so though they may agree it is a nice thing to have, they may not think it is essential to a person’s life. It is the same for schools, with tight budgets, art is usually the first subject cut from a student’s learning experience because it is not viewed as a priority. However, with all of the academic benefits students can gain from being involved in any type of art subject, it is important that schools allow students an easy access to art. By making art programs more prominent, schools would be offering students a chance to improve academic performance, increase happiness, and open up minds. Though art is mostly viewed as a hobby, it benefits children academically. One way art helps academic performance is by strengthening students’ brains. The principal of Lyons Elementary School explained the Opening Minds through Art program (OMA) helped teach children concepts through art that would later help them learn more in different subjects (Smith). Art can improve students’ understanding of learning concepts, which will help them in different subjects in the future. artistic activities engage senses and make neural connections in the brain. The more neural pathways created and the stronger the become, the easier it becomes for the brain to take in new information. With a stronger brain and mental capacity, students’ performance in school with improve. Academically, art is beneficialShow MoreRelatedThe Importance of Arts in School Essay1022 Words   |  5 PagesSchool is about getting an education and preparing students for the future. From the very begi nning, it molds students into who they will grow up to be and what they will do. Children need to learn a little of everything in order to spark their interest. 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