1) What factors influence a firm's competitive strategies? How does global economic competition affect the price elasticity of demand in the domestic market and decisions related to the strategy a firm uses to compete?
Why do most economists oppose trade restrictions? Who have been the winners and losers as a result of the North American Free Trade Agreement? Explain your answer.
2) What are the effects of innovation and technology on the cost of production? How does technology affect market structure and real-world competition?
Which market structure is best suited for technological innovation? Explain your answer. How have technological innovations affected your organization?
3) Identify an example in which the competitive environment affected the relationship between labor and management. How was the relationship affected?
What was the effect on the wages earned by the labor force, and the size of the labor force? What factors at work led to this outcome?