Project #21030 - BMGT

The Law of Supply and Demand: The price of an item will go down if the supply increases or if the demand for the item decreases. The price of an item will go up if the supply decreases or if the demand for the item increases. In general, the price of an item is usually pushed toward the level at which the quantity supplied will equal the quantity demanded, which is called the equilibrium point.

After reading chapter 1 related to economics, select one of the topics below and explain how the subject is related to economics, such as in relation to supply and demand (there are other relationships though!).  Student may select the same topic but need to present from different perspectives so there is no one correct answer.  This discussion question requires student to demonstrate an understanding of the cause and effect of the wants, needs, and desires of individuals and businesses when there are limited resources.  Please note that students may select a topic other than those listed below.  Make sure to support your reasoning, which can be done by using the course material or other source.  Be sure to use in-text citations and provide a reference list.

  1. The legalization of marijuana;
  2. Gasoline/Oil;
  3. Starbucks stores;
  4. Tickle-me Elmo dolls, Cabbage Patch dolls, or Beanie Babies;
  5. Football, baseball players or any other professional sports figure;
  6. Top billed movie stars;
  7. Video game units such as PlayStation, Nintendo, Xbox, PS2 or Wii;
  8. Online education;
  9. Feeding the world' growth population;
  10. Telephone/Cell Phones
  11. The housing market                



In Chapter 2, two hot topics in the business world are discussed.  Students are to evaluate one of the questions below and respond.  Initial response to the question is due by Thursday, January 16 and follow up comments to other students are due by Sunday, January 19.  

 a.  The business world has experienced several shake ups over the past 15 years with the Enron scandal and in 2007 unethical business practices brought down many huge, long-standing financial institutions.  However, despite the fact that there are many companies that breach ethical standard such as seen in the articleGoogle forfeits $500M generated by online ads and prescription drug sales by Canadian online pharmacies. many other companies are run by ethical managers.

 Question:  How could Google avoid such an ethical dilemma that not only tarnished their name but also impacted their shareholders?


b.  Many years ago Milton Friedman took the stance that business exist to make a profit and that it is not the corporations' responsibility to consider social responsibility.  The Social Responsibility of Business is to Increase its Profits   However, in recent years the importance of operating a business in an environment that considers resource depletion and pollution has been raised in order for future generations to have available the resources needed to live.  In fact, the triple bottom line theory that states that businesses should focus on people, planet and profit has taken hold and is now described by organizations as the way to do business.

Question:  After reading the Milton Friedman article and the chapter 2,  explain how you would handle this societal dilemma if you were a business owner.

Make sure to provide a substantive response using the course material, citing your sources and creating a reference list.

Students want to use the material from the articles, the textbook, the videos or from experience to support your reasoning.  It is not enough to say you take a position without fully supporting the position.  Please respond to this conference by selecting "Respond" rather than create a new topic.



 Friedman, M. (1970, Sept 13).  The social responsibility of business is to increase its profits.  From The New York Times Magazine.  Retrieved from

OPA (2011).  Google forfeits $500M generated by online ads and prescription drug sales by Canadian online pharmacies.  Retrieved from

Subject Business
Due By (Pacific Time) 01/17/2014 01:24 pm
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