Assignment:
PART 1
Market Structures
- Read the article, The Ethics of Big Data. Based on the content presented in the article, describe the microeconomic principles being used, in other words what is the impact for demand? List the different types of market structures that big data benefits the least and benefits the most. While data collection may benefit the business community, discuss the potential concerns for consumers that arise with the proliferation of big data.
Analyze the difference between market structures. Compare your response to those of your classmates.Discuss the way profits vary based on market structure.
PART 2
Barriers to Entry
- Analyze the major barriers for entry and exit into the airline industry. Explain how each barrier can foster either monopoly or oligopoly. What barriers, if any, do you feel give rise to monopoly that will allow the government to become involved to protect consumers?
Do you agree or disagree with their reasons on whether or not government should get involved when it comes to monopolies?Compare and contrast your posts and comment on barriers to enter a market and analysis of government's relationship with monopolies.