Part -1:
U.S. Supreme Court ruled that cities could have school voucher programs that give money directly to parents, who could then choose between competing schools, public or private. The idea was to create competition among schools. Like businesses, schools were expected to improve their services (how effec¬tively they teach) to win students from competitors. The result would be im¬provement in all schools, private and public, to benefit many students.
1. Do you believe.economic principles like competition apply in both private and public organizations? Be prepared to defend your answer.
2. Are there other public functions that might benefit from more competi¬tion, including competition from private firms?
3. Many people say that businesspeople do not do enough for society. Some students choose to go into the public sector instead of business because they want to help others. However, businesspeople say that they do more to help others than nonprofit groups do because they provide jobs for peo¬ple rather than giving them charity. Furthermore, they believe businesses create all the wealth that nonprofit groups distribute.
a. How can you find some middle ground in this debate to show that both business people and those who work for nonprofit organizations contribute to society and need to work together more closely to help people?
b. How could you use the concepts of Adam Smith to help illustrate your position?
Part -2:
1. About 95 percent of the world's population lives outside the United States, but many U.S. companies, especially small businesses, still do not engage in global trade. Why not? Do you think more small businesses will participate in global trade in the future? Why or why not?
2. Countries like the United States that have a high standard of living are referred to as industrialized nations. Countries with a lower standard of living and quality of life are called developing countries (or underdeveloped or less developed countries). What factors prevent developing nations from becoming industrialized nations?
3. What can businesses do to prevent unexpected problems in dealing with sociocultural, economic and financial, legal and regulatory, and physical and environmental forces in global markets?
4. How would you justify the use of revenue or protective tariffs in today's global market