Homework Help is Here – Start Your Trial Now!
Business
Economics
Could you type what this person is saying (I can not read the handwriting..)?

Could you type what this person is saying (I can not read the handwriting..)?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
See similar textbooks
icon
Related questions
Question

Could you type what this person is saying (I can not read the handwriting..)?

 

 

The same goes for policies at private institutions. Admission procedures at top colleges favor the wards of past graduates. The market incentivizes income inequality, increases for hard work and risk-taking, but they also impose costs. Now, we will have a look at the relationship between government and the business world. The government attempts to shape the business practices through both directly and indirectly implementing rules and regulations. The government most often directly influences organizations by establishing laws and rules that dictate what organizations can and cannot do. Changes in political factors can affect business strategy because of the stability of political systems can affect the appeal of a local market. In a nutshell, we can say that the growing inequalities in wealth and incomes greatly affect the life of middle-skilled and less educated citizens.
Transcribed Image Text:The same goes for policies at private institutions. Admission procedures at top colleges favor the wards of past graduates. The market incentivizes income inequality, increases for hard work and risk-taking, but they also impose costs. Now, we will have a look at the relationship between government and the business world. The government attempts to shape the business practices through both directly and indirectly implementing rules and regulations. The government most often directly influences organizations by establishing laws and rules that dictate what organizations can and cannot do. Changes in political factors can affect business strategy because of the stability of political systems can affect the appeal of a local market. In a nutshell, we can say that the growing inequalities in wealth and incomes greatly affect the life of middle-skilled and less educated citizens.
### Understanding Income Inequality and Its Impact Income inequality has become a prominent topic in economic debates worldwide. There are numerous reasons for the growing disparities in wealth, which significantly influence the business landscape and political systems. **1. Extreme Poverty and Its Reduction:** A sharp reduction in extreme poverty globally has not lessened the sense of loss among middle-class and working-class citizens in advanced economies. **2. The Digital Revolution:** The digital revolution generates substantial wealth for those equipped with the necessary skills. However, it eliminates many "middle-skill" jobs, contributing to downward pressure on wages and leading to economic insecurity for those with less education. **3. Rise of Super Companies:** The rise of super companies has also widened the gap between major metropolitan areas, where these firms are headquartered, and less populated small towns and rural regions. This leads to the emergence of "superstar cities" that dominate entire economies.
Transcribed Image Text:### Understanding Income Inequality and Its Impact Income inequality has become a prominent topic in economic debates worldwide. There are numerous reasons for the growing disparities in wealth, which significantly influence the business landscape and political systems. **1. Extreme Poverty and Its Reduction:** A sharp reduction in extreme poverty globally has not lessened the sense of loss among middle-class and working-class citizens in advanced economies. **2. The Digital Revolution:** The digital revolution generates substantial wealth for those equipped with the necessary skills. However, it eliminates many "middle-skill" jobs, contributing to downward pressure on wages and leading to economic insecurity for those with less education. **3. Rise of Super Companies:** The rise of super companies has also widened the gap between major metropolitan areas, where these firms are headquartered, and less populated small towns and rural regions. This leads to the emergence of "superstar cities" that dominate entire economies.
Expert Solution
Step 1

Converting the handwritten into text form

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS