Wednesday, December 22, 2010

Post 8

Mr. Campbell asked us to watch a speech made by Malcolm Gladwell and to write a response to his thoughts.

I believe that this is true about how companies are competing in other ways other than price. Industries are competing against each other with the same type of product. They just differentiated the product to make it their idea. The company makes many of the same type of product just into different forms. This is what Malcolm talks about in his speech, which he talks about how his friend Howard Moskowitz change the way food companies think about the way they produce their products. Howard made it clear to the food companies that people don't know what they want. This means that the company has to provide multiple forms of the same product to fit the needs of the American people. This is common in Monopolistic Competition because in this market structure companies are competing to gain control of the consumers by making them like their product more them the other companies.

Here is a link to his speech:

Post 9

Mr. Campbell asked us to write a 100 word essay on how technology makes the world a better place.

Technology has helped us in our lives in many ways. We now are able to produce products better and faster. Instead of companies having shortages of their products they can now easily produce their products to the demand of the people. Technology has also helped the expansion of companies because they can communicate with each other from anywhere in the country that the company is located, or to other countries as well. Companies can now receive information/reviews about their products, which could lead to a decision to increase production or lower it. This new technology has help companies become more successful everyday.

Tuesday, December 14, 2010

Post 7

Natural- PSE&G

Geographic- A grocery store in Alaska

Technological- Microsoft windows OS

Government- US Postal Service

Friday, December 10, 2010

Thursday, December 9, 2010

Post 5

Mr. Campbell has asked me to pick a monopoly that I would want to be broken up, and how that change would benefit me, my friends, and family.

I would want PSN&G broken up. PSN&G is a well known  monopoly for electric and other household necessities. I would want this broken up because if it was there would be more competition and that could lead to lower prices. With more industries trying to compete, they will try to offer the minimum prices to gain peoples interest. This would help me in the future once I have to pay the electric bill. It could help my friends the same way for when they get older. It could also help their parents and my parents to save money and not using that money to pay for high electric bills, that help keep their and my families alive, like using the oven everyday or the heat. More industries in the market causes lower prices and thats why I think PSN&G should be broken up to help people support their families in better ways.

Post 4

Mr. Campbell had us take three quizes and write a blog about eight things that I learned from those quizes.

1) In monopolistic competition, businesses try to make their product look different then the other businesses.
2) The Interstate Commerce Act was the first antitrust law that was passed.
3)That Standard Oil was the most well-known monopoly that was broken up from the the Sherman Antitrust Act.
4) The Interstate Commerce Act oversaw the railroad industry.
5) That the US has thought about bringing back the Laissez-faire policy.
6) Buyers and Sellers have to act independently in a perfect competition.
7) Consumers benefit the most from competitive markets.
8) When sellers compete with each other on factors other than price, they are competing in a nonprice competition.

Post 3

Mr. Campbell had us come up with examples taht represent the market structures. Here is my prezi presentation: