Video on demand

4). In order for a firm to apply price discrimination, they must yield an amount of monopoly power, be able to prevent arbitrage and there must be a difference in the elasticity of demand for the product or service (Ken, 2002, 4). Price discrimination can occur in a variety of different markets to include media and entertainment, communications, transportation and utilities such as electricity (Lambrecht et al, 2012, p. 424). Furthermore…

Gender wage gap is a way for men and women to discriminate against other based off their gender. Gender wage gap allows men to make money than most women. For instance, if a man and a woman have the same job, it is more likely the man is making more money even though they are doing the same amount of work and have the same job title. More simply, women are not usually seen as dominant people in the work force, so they usually receive lower wages, even if they are experienced and well trained for…

International millionaire and New Yorker journalist, Malcolm Gladwell, recently preformed a study and confirmed that ten-thousand hours of practice in any field produces an expert. Malcolm wrote a business novel titled ‘Outliers’ that studied the behavior of successful individuals in entrepreneurship. Malcolm finished the novel with new-found knowledge about how the successful individuals came to be. Ten-thousand hours was the answer to how individuals such as, Bill Gates, Steve Jobs, Bill Joy,…

BUM-A-RIDE’s business structure can essentially be divided into three basic disciplines: Supply, demand and evaluation. The supply function of BUM-A-RIDE is the business associated with acquiring the transportation, including fundraising, accounting, purchasing tickets and bus vouchers, and networking with transportation companies to find new forms of assistance available to our clients. The demand function is simply focused on finding those in need, encouraging them to take advantage of our…

Many people treat supply chain management as being synonymous with logistics, which is the management of the flow of goods from the origin to the consumers (Lambert, 2008, p. 1). However, supply chain management encompasses much more than the purchasing or management of goods to the consumer. Supply chain management (SCM), as defined by Lambert (2008), is the “management of relationships across the supply chain, which includes a network of interconnected businesses involved in providing a…

needed, which increases the demand for workers resulting to a decrease in unemployment. In addition in the short run an increase in inflation will reduce unemployment, resulting to a trade-off between inflation and unemployment. In addition Pettinger (2011) says “If an economy experienced inflation, then the Central Bank raises interest rates. Higher interest rates will reduce consumer spending and investment leading to lower aggregate demand. This fall in aggregate demand will lead to lower…

community colleges to help meet future skill demands will prove less effective if rushed” (Neumark 3), this suggests that technical education programs must be built up over time. The primary conclusion in terms of education is that the U.S. economy will generate demand for highly-educated works, which as a result can be addressed by creating more educational programs. Thus, the United States does not seem to be in peril of a workforce gap. The demand for skilled labor is being met by the supply,…

Recently there has been a pervasive discussion about wage inequality, particularly raising the minimum wage. Many argue that fifteen dollars per hour or even the Presidents ten dollar ten cent minimum wage is too high with reasons such as small businesses will lose profit and close, people will have no incentive for higher education, and the overall elimination of jobs. Past arguments like these against minimum wage have been recycled since the passing of the Fair Labor Standards Act of 1938.…

1.1 MARKET ECONOMIES Key TermsCHAPTER 1 - THE ECONOMIC ENVIRONMENT Scarcity Market Economy capitalism profit competition Answer all questions in a complete paragraph with an opening sentence, 3 descriptive sentences and 1 closing sentence. What is the major difference between a command economy and a market economy? A command and market economy have many differences . A market economy allows the people to make all their own decisions, whereas a command economy forces the people to do what…

education level required jobs. Unfortunately, wages are dependent on the aggregate demand and supply dispensability. The Bureau of Labor Statistics (BLS) considers a person to be employed…