Project #46711 - Business Economics Discussion Questions week 2

 

Budget 25.00

 

These are economic discussion questions I need all questions answered separated and excellent work.  APA FORMAT

Session 2 Discussion 1

 
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One of the major changes in understanding consumer behavior has been data mining by large corporations. Many companies track all purchases of each consumer and then target special advertising based on purchasing habits. In the future, consumers may have their cell phones alerted to special deals the moment they enter a store. Many retailers now have special cards that gather more information about their customers so they can more accurately promote.

Do you have concerns about corporate collection of this type information or do you accept it as inevitable? Do you see value to you of providing this type information to retailers?

 

Session 2 Discussion 2

 
  

Many people fail to see the importance of price elasticity of demand to decisions made in markets. For example, if a product has an inelastic response to price, an increase in the tax on that item doesn't affect the quantity demanded very much and most of the tax is paid by the consumer in the form of higher prices. For example, governments typically have special excise (sales) taxes on items that have inelastic demand like cigarettes, alcoholic beverages, and gasoline. Though businesses may not be in favor, they are not as vocal in opposition to the extent that a producer of more elastic products like clothes would be.

  1. Can you think of other items that an increased tax would not affect quantity purchased to a large extent? What about required health care? Why is health care not typically taxed?
  2. Is it appropriate for government to use the economic concept of elasticity to tax certain items? Why or why not?

Subject Business
Due By (Pacific Time) 11/08/2014 12:00 am
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