III. Preconditions for Big Business
This section broadly covers the preconditions for big business. The first one being transportation
(railroads); it gave examples on the importance of the transportation system.
1-) You are more likely to drink California drink, because the euro appreciation makes the French wine
2-) False, because it can help the domestic industry by making domestic products cheaper; which
1. Capitalism itself, wrote Schumpeter, is a process of transformation. It incessantly revolutionizes the
economic structure from within, incessantly destroying the old one, incessantly creating a new one (p.
In this paper, I will examine factors that may have played a role in the toy train life cycle as a product
since its introduction in the toy market using the PLC theory. The PLC theory is known
1. The rise of big business stood at the core of a broad range of changes in American life, shifts in other
institutions, and in the very values and perceptions through which citizens understood themselves and
the their relation to the
1. Briefly summarize:
Politics: It mentions how the triumph of Corporation affected politics, it reshaped labor and
made sure that technology was the new American way of life.
Labor: The book says labor was one o
ECON MGMT 315
What is the Theory of Second Best?
The theory of second best is described in the article as when a market shifts from a pure one,
and results in an outcome that is considered not optimal, attempts to make it purer
a. Contrary to the market theorists, the pure free market is not a seamless web, nor is the mixed
economy a slippery slope to socialism (p. 54). Explain.
It basically means that in contrast to marke
Because of the fraud schools committed in order to induce students to take out risky loans with
the promise of a job placement after graduati