StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Concept of supply and demand; of antitrust laws and of labor unions - Essay Example

Comments (0) Cite this document
Summary
This essay is aimed at providing a report on issues like concept of supply and demand; concept of antitrust laws and concept of labor unions. The question that this study seeks to ascertain is: How these concepts can relate to a college student’s professional and personal live going forward?…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER91.1% of users find it useful
Concept of supply and demand; of antitrust laws and of labor unions
Read Text Preview

Extract of sample "Concept of supply and demand; of antitrust laws and of labor unions"

The three most important concepts learned in the a) Concept of Supply and Demand: Supply and demand has become one of the most important concepts in modern day economics. Indeed this concept can be summed up as the one in which, the producer of a commodity has a certain quantity for sale in the market and that quantity which consumers are ready to buy. As a result of this the demand for a particular commodity, depends on a number of factors like the commodity price, related commodity prices and also consumers buying power and choices. The supply of a particular commodity depends on a number of factors like, the cost incurred in production of that particular commodity, the price of related kinds of products and many other factors. The concept of supply and demand is always existent and the market’s main aim is to bring a form of stability and equilibrium between the demand as well as supply through the pricing of commodities.
b) Concept of Antitrust Laws:
These are special type of laws that have been created by the American government in order to prevent the formation of monopolies, which could otherwise result in unhealthy market competition. Thus these are a set of Federal laws which can be applied in case of both businesses as well as individuals. The first Antitrust law in America was created in the year 1890. Thus this law ensures that, all the individuals and the various business establishments are given a fair deal, when it comes to market competition and that no single company or individual gains an upper hand in business dealings unlawfully. Hence Antitrust laws have become a boon for American citizens since the consumers get adequate protection from being exploited. (www.wisegeek.com )
c) Concept of Labor Unions:
It is an organization that is created by the workers of any company or business establishment, with the sole aim of getting satisfactory wages and favorable type of working environment, through the bargaining strength of its members. In America most labor unions help in the process of negotiations with the employers. It has been seen that, most of these are business unions. Indeed labor unions help in empowering individual workers in getting justice regarding wages and also in matters relating to improvement of the conditions under which they work.
2. How these concepts can relate to a college student’s professional and personal live going forward?
Indeed all the above discussed three concepts are very important for any college student, since they will come across these in daily lives as well during the professional careers. This is due to the reason that, the concepts of Supply and Demand, Antitrust laws and Labor unions have got established into the markets in US and are important factors on which, several individuals and business establishment depend on. As a result of this when a college student becomes a business man; they need to have a very good grip of these concepts, since they will have to take several vital decisions based on these. Since the nation’s economy will be affected by the above concepts, it will have a direct impact on the personal life of any college student.
Works Cited:
Cyprus Sheri “What are Antitrust Laws?” www.wisegeek.com February23. 2011. Web. May07. 2011 Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Concept of supply and demand; of antitrust laws and of labor unions Essay”, n.d.)
Retrieved from https://studentshare.org/macro-microeconomics/1420539-concept-of-supply-and-demand-concept-of-antitrust-laws-and-concept-of-labor-unions
(Concept of Supply and Demand; Of Antitrust Laws and of Labor Unions Essay)
https://studentshare.org/macro-microeconomics/1420539-concept-of-supply-and-demand-concept-of-antitrust-laws-and-concept-of-labor-unions.
“Concept of Supply and Demand; Of Antitrust Laws and of Labor Unions Essay”, n.d. https://studentshare.org/macro-microeconomics/1420539-concept-of-supply-and-demand-concept-of-antitrust-laws-and-concept-of-labor-unions.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Concept of supply and demand; of antitrust laws and of labor unions

Moffetts Concept of Trust

Several formalities have been associated with the development of the trust, most of which have been formulated with the intent to prevent fraud and misappropriation in the transfer of property, especially from the point of view of payment of taxes, stamp duties and such related fees for the capital wealth. While trust law is said to be administered based on principles of equity, the reality has been quite different and the results of adjudication in trust disputes have been primarily ad hoc, conditioned from a financial perspective rather than to establish any distinct equitable principles. In fact, the law of formalities has created inflexibility in some cases and there have been instances where the interests of beneficiaries hav...
13 Pages (3250 words) Research Paper

John Miltons Concept of God in Paradise Lost

However, Milton understood that the ways of God were manifold and not necessarily understandable to his creations. Therefore, it should not be surprising that while his concept of God as expressed in this epic demonstrates a god who is both reasonable and just, He is also seen as paradoxical, often expecting what should not reasonably be expected. In addition to presenting his readers with his image of a good yet contradictory God, Milton carefully outlines his concept of the importance of Free Will as opposed to the concept of predetermination.

Milton begins painting his image of God as all powerful and all reasonable with the first book, as Satan talks with his companion about the fall they have experienced together....
9 Pages (2250 words) Book Report/Review

Concept Analysis: Humor in Nursing

Humor is one of the methods and strategies used by medical professionals to support a client and create positive feelings and emotions. Responsibility of a nurse is to ensure that a thorough assessment is made of the client's health concerns, that suitable nursing actions are chosen and implemented to help clients, and that an evaluation of the results is carried out. Assuming this leadership does not mean that nurses take over and do for, or to, clients. The quality of nursing care is determined by the completeness of the interchange of knowledge, attitudes, and skills between nurses and their clients. To be most helpful to all clients, nurses should make sure that they solicit their knowledge, become aware of their feelings and...
15 Pages (3750 words) Case Study

The Concept of Reconstruction

The rampant oppression of black citizens remained commonplace in the South due mainly to the racist, pro-slavery sentiments of Lincoln’s successor Andrew Johnson. Racist groups such as the Ku Klux Klan emerged and flourished during Reconstruction, a circumstance that would have been much less likely had Lincoln lived. Lincoln’s dream of rebuilding the South and unifying the nation fell well short of his expectations. His dream became a nightmare for Southern blacks under the Johnson administration.

Slavery was an emotional topic in which everyone in the country at the time maintained a strong opinion. Lincoln and those of abolitionist ideology acknowledged that slavery was a part of the American culture and...
8 Pages (2000 words) Case Study

Child Labor

The historical record of child labor statistics shows that child labor was at its peak in the USA in 1910. In 1880 there were 1,118,356 (or 16.5%) children between ten to fifteen years of age who were involved in strenuous physical work. In 1900 their number rose to 1,750, 178 (or 18.2%). In 1910 the number yet again rose to a record height of 1,990,225 or 18.4% (Fuller, 1923). Although the situation has improved a lot still even today America is not free from the evil of child labor. In a prosperous country like the USA, approximately 500,000 children work in the fields every day. These include children as young as five years old who work approximately 70 hours a week to support their families economically (Children in the Fields...
12 Pages (3000 words) Assignment

The Concept of a Mongolian Restaurant Business

The fact that it gives customers a variety of fresh food ingredients to choose from made the business very attractive to customers.
For this study, a brief overview with regards to a Mongolian restaurant business will be provided followed by discussing the concept and the primary purpose of a business plan. Eventually, the importance of using a business plan in starting a new Mongolian restaurant will be discussed.
In the process of discussing the importance of a business plan, the role of a business plan with regards to the success of a restaurant will be highlighted. Aiming to project the student’s understanding of the subject matter, the point of discussion will include: (1) selecting a good location and the ren...
9 Pages (2250 words) Term Paper

American Airlines: Supply Chain Nightmare

For this reason, it is necessary that all business sectors are carefully reviewed – as often as possible – for the appropriateness of their structure and their daily needs; managers may fail to evaluate with accuracy their firm’s needs, a fact that can cause the failure of plans applied on the relevant organization (Hardless, 2005). On the other hand, the needs of various organizational departments are different; the methods used for the improvement of a firm’s activities should be flexible taking into consideration the characteristics of the specific organizational sector, its strengths/ weaknesses but also its role in the development of the firm’s activities. Boeing is a firm with a long presence in...
15 Pages (3750 words) Case Study

Inflexible Labour Laws

Differing economic, cultural and political circumstances abroad also suggest the need for a better understanding of employees with a broad context is important. Fortunately, the ability to study the implications of policies on economic growth abroad is expanding rapidly as a result of the emergence of global private equity markets and micro finance. International entrepreneur ship spans cultural boundaries and involves a variety of stakeholders, including the entrepreneur, investors and policy makers (Asel, 2003). “Social considerations must be given the same status as economic, financial and environmental concerns in a holistic approach. It is time for global thinking and local action. The implementation of the Core Labour...
9 Pages (2250 words) Case Study

Relationship between Money Supply and Inflation in Saudi Arabia

Over the recent past, the effects of money supply, debt and inflation have become contentious issues for debate. Furthermore, frequent cautions concerning the risk of very large budgetary deficits aver that this would send up the upcoming state debt and capital rate as indicated by the rates (interests). As a nation, Saudi Arabia has a bi and enduring budgetary deficit over the past two decades and the government has been forced to go into the market so as to have loan access and to make up for the deficits. Given the impact of this on inflation and other economic variables, it's imperative and of great alarm for strategy architects (strategists) to understand how microeconomics has an effect on money supply, financial plan defici...
10 Pages (2500 words) Speech or Presentation

Comparison of the Political Orientation of Trade Unions

Austria or you may call is the Republic of Austria in official terminology is located in Central Europe. Although the population figures do not touch the danger limit but the talent and resources are worthwhile there. Germany and Hungry are also near this region. Italy is in the south of Austria. Switzerland will be seen in the west. So, now you can realize the importance of this region clearly.
The GDP is also impressive here. You can say the economy is strong and it has much depth. The strong social market economy is the result of development and proper management by the government (DArt & Turner 2008). Traders find flexibility in business operations. Labor has a positive approach to work and jobs.
There was a tren...
9 Pages (2250 words) Term Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Concept of supply and demand; of antitrust laws and of labor unions for FREE!

Contact Us