To think critically about: Application of competition principles in both public and private organizations. Introduction: Economics is the term used for the study of production, allocation and consumption of resources. Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 2, Problem 1CT

Summary Introduction

To think critically about: Application of competition principles in both public and private organizations.

Introduction:

Economics is the term used for the study of production, allocation and consumption of resources.

Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Expert Solution & Answer

Explanation of Solution

Given information:

The government initiated giving money directly to parents for education so that they can choose amongst any prevailing public or private school.

Explanation:

Competition affects both private and public sector organizations due to the following reasons:

Public organizations need to follow guidelines of the government and in case the quality of services is not as good as other public organizations then government may take remedial actions against responsible officers and authorities.
Public organizations often receive funds on the basis of the performance or ranking.
Public organizations which perform better get opportunities which motivate people working under the organization.
Overall public sector may feel competition from private sector as private sector is does a better job, and then there is a possibility of disinvestment by the government in that particular sector.

Public sectors may remain unaffected by the competition due to the following reasons:

Public sectors do not have to worry about earnings since; the funding is to be done by the government.
Public sector organizations do not get bankrupted therefore; such organizations do not have to worry about repayment or cash inflows to make payments.
Public sector organizations do not shut their operations in case of lack of supply or sales or lack of earnings.
Therefore, public sector organizations remain unaffected from competition amongst themselves or private sectors.

Conclusion

Thus, public sector organizations generally do not face as much competition as it is faced by the private sector.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

Hi, Amazon works with four different vendors to package and send magazines to customers. We want to identify the top three vendors. Remember Amazon’s goals: Maintain high customer satisfaction, Ship products on time, Minimize costs. Each vendor is rated on several performance metrics. Can you identify the vendors that best meet Amazon’s goals? Thank you, Nadia Loomis

What defines the bargaining zone in a negotiation?- The bargaining zone, or the zone of possible agreement (ZOPA), is the scale of acceptable outcomes in a negotiation. At one end is the lowest price/ set of terms one party is ready to accept, and the other end of the scale is the highest price/ desired terms of the negotiation. Typically, each party starts on either side of the scale at the beginning of a negotiation. Successful negotiations meet in the middle of this range of acceptable outcomes, resulting in a mutually beneficial agreement (Thompson, 2020). How does a positive or negative bargaining zone affect the outcome of a negotiation and one's BATNA? - The bargaining zone (ZOPA) directly impacts the strength of one's BATNA (Best Alternative to a Negotiated Agreement). A strong BATNA provides leverage to negotiate better terms in a positive bargaining zone, where the buyer's maximum exceeds the seller's minimum (Thompson, 2020). The negotiator can push closer to their…

How does a positive or negative bargaining zone affect the outcome of a negotiation and one's BATNA? Provide a real life example.

Answer 2

Question

Chapter 2, Problem 1CT

Summary Introduction

To think critically about: Application of competition principles in both public and private organizations.

Introduction:

Economics is the term used for the study of production, allocation and consumption of resources.

Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Expert Solution & Answer

Explanation of Solution

Given information:

The government initiated giving money directly to parents for education so that they can choose amongst any prevailing public or private school.

Explanation:

Competition affects both private and public sector organizations due to the following reasons:

Public organizations need to follow guidelines of the government and in case the quality of services is not as good as other public organizations then government may take remedial actions against responsible officers and authorities.
Public organizations often receive funds on the basis of the performance or ranking.
Public organizations which perform better get opportunities which motivate people working under the organization.
Overall public sector may feel competition from private sector as private sector is does a better job, and then there is a possibility of disinvestment by the government in that particular sector.

Public sectors may remain unaffected by the competition due to the following reasons:

Public sectors do not have to worry about earnings since; the funding is to be done by the government.
Public sector organizations do not get bankrupted therefore; such organizations do not have to worry about repayment or cash inflows to make payments.
Public sector organizations do not shut their operations in case of lack of supply or sales or lack of earnings.
Therefore, public sector organizations remain unaffected from competition amongst themselves or private sectors.

Conclusion

Thus, public sector organizations generally do not face as much competition as it is faced by the private sector.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 2, Problem 1CT

Summary Introduction

To think critically about: Application of competition principles in both public and private organizations.

Introduction:

Economics is the term used for the study of production, allocation and consumption of resources.

Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Expert Solution & Answer

Explanation of Solution

Given information:

The government initiated giving money directly to parents for education so that they can choose amongst any prevailing public or private school.

Explanation:

Competition affects both private and public sector organizations due to the following reasons:

Public organizations need to follow guidelines of the government and in case the quality of services is not as good as other public organizations then government may take remedial actions against responsible officers and authorities.
Public organizations often receive funds on the basis of the performance or ranking.
Public organizations which perform better get opportunities which motivate people working under the organization.
Overall public sector may feel competition from private sector as private sector is does a better job, and then there is a possibility of disinvestment by the government in that particular sector.

Public sectors may remain unaffected by the competition due to the following reasons:

Public sectors do not have to worry about earnings since; the funding is to be done by the government.
Public sector organizations do not get bankrupted therefore; such organizations do not have to worry about repayment or cash inflows to make payments.
Public sector organizations do not shut their operations in case of lack of supply or sales or lack of earnings.
Therefore, public sector organizations remain unaffected from competition amongst themselves or private sectors.

Conclusion

Thus, public sector organizations generally do not face as much competition as it is faced by the private sector.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 2, Problem 1CT

Summary Introduction

To think critically about: Application of competition principles in both public and private organizations.

Introduction:

Economics is the term used for the study of production, allocation and consumption of resources.

Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Expert Solution & Answer

Explanation of Solution

Given information:

The government initiated giving money directly to parents for education so that they can choose amongst any prevailing public or private school.

Explanation:

Competition affects both private and public sector organizations due to the following reasons:

Public organizations need to follow guidelines of the government and in case the quality of services is not as good as other public organizations then government may take remedial actions against responsible officers and authorities.
Public organizations often receive funds on the basis of the performance or ranking.
Public organizations which perform better get opportunities which motivate people working under the organization.
Overall public sector may feel competition from private sector as private sector is does a better job, and then there is a possibility of disinvestment by the government in that particular sector.

Public sectors may remain unaffected by the competition due to the following reasons:

Public sectors do not have to worry about earnings since; the funding is to be done by the government.
Public sector organizations do not get bankrupted therefore; such organizations do not have to worry about repayment or cash inflows to make payments.
Public sector organizations do not shut their operations in case of lack of supply or sales or lack of earnings.
Therefore, public sector organizations remain unaffected from competition amongst themselves or private sectors.

Conclusion

Thus, public sector organizations generally do not face as much competition as it is faced by the private sector.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 2, Problem 1CT

Summary Introduction

To think critically about: Application of competition principles in both public and private organizations.

Introduction:

Economics is the term used for the study of production, allocation and consumption of resources.

Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Expert Solution & Answer

Explanation of Solution

Given information:

The government initiated giving money directly to parents for education so that they can choose amongst any prevailing public or private school.

Explanation:

Competition affects both private and public sector organizations due to the following reasons:

Public organizations need to follow guidelines of the government and in case the quality of services is not as good as other public organizations then government may take remedial actions against responsible officers and authorities.
Public organizations often receive funds on the basis of the performance or ranking.
Public organizations which perform better get opportunities which motivate people working under the organization.
Overall public sector may feel competition from private sector as private sector is does a better job, and then there is a possibility of disinvestment by the government in that particular sector.

Public sectors may remain unaffected by the competition due to the following reasons:

Public sectors do not have to worry about earnings since; the funding is to be done by the government.
Public sector organizations do not get bankrupted therefore; such organizations do not have to worry about repayment or cash inflows to make payments.
Public sector organizations do not shut their operations in case of lack of supply or sales or lack of earnings.
Therefore, public sector organizations remain unaffected from competition amongst themselves or private sectors.

Conclusion

Thus, public sector organizations generally do not face as much competition as it is faced by the private sector.

Answer 6

Chapter 2, Problem 1CT

Summary Introduction

To think critically about: Application of competition principles in both public and private organizations.

Introduction:

Economics is the term used for the study of production, allocation and consumption of resources.

Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Expert Solution & Answer

Explanation of Solution

Given information:

The government initiated giving money directly to parents for education so that they can choose amongst any prevailing public or private school.

Explanation:

Competition affects both private and public sector organizations due to the following reasons:

Public organizations need to follow guidelines of the government and in case the quality of services is not as good as other public organizations then government may take remedial actions against responsible officers and authorities.
Public organizations often receive funds on the basis of the performance or ranking.
Public organizations which perform better get opportunities which motivate people working under the organization.
Overall public sector may feel competition from private sector as private sector is does a better job, and then there is a possibility of disinvestment by the government in that particular sector.

Public sectors may remain unaffected by the competition due to the following reasons:

Public sectors do not have to worry about earnings since; the funding is to be done by the government.
Public sector organizations do not get bankrupted therefore; such organizations do not have to worry about repayment or cash inflows to make payments.
Public sector organizations do not shut their operations in case of lack of supply or sales or lack of earnings.
Therefore, public sector organizations remain unaffected from competition amongst themselves or private sectors.

Conclusion

Thus, public sector organizations generally do not face as much competition as it is faced by the private sector.

Answer 7

Chapter 2, Problem 1CT

Summary Introduction

To think critically about: Application of competition principles in both public and private organizations.

Introduction:

Economics is the term used for the study of production, allocation and consumption of resources.

Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Answer 8

Expert Solution & Answer

Explanation of Solution

Given information:

The government initiated giving money directly to parents for education so that they can choose amongst any prevailing public or private school.

Explanation:

Competition affects both private and public sector organizations due to the following reasons:

Public organizations need to follow guidelines of the government and in case the quality of services is not as good as other public organizations then government may take remedial actions against responsible officers and authorities.
Public organizations often receive funds on the basis of the performance or ranking.
Public organizations which perform better get opportunities which motivate people working under the organization.
Overall public sector may feel competition from private sector as private sector is does a better job, and then there is a possibility of disinvestment by the government in that particular sector.

Public sectors may remain unaffected by the competition due to the following reasons:

Public sectors do not have to worry about earnings since; the funding is to be done by the government.
Public sector organizations do not get bankrupted therefore; such organizations do not have to worry about repayment or cash inflows to make payments.
Public sector organizations do not shut their operations in case of lack of supply or sales or lack of earnings.
Therefore, public sector organizations remain unaffected from competition amongst themselves or private sectors.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Conclusion

Thus, public sector organizations generally do not face as much competition as it is faced by the private sector.

Answer 12

Ch. 2.1 - Prob. 2.1AQ Ch. 2.1 - Prob. 2.1BQ Ch. 2.1 - Prob. 2.1CQ Ch. 2.1 - Prob. 1TP Ch. 2.1 - Prob. 2TP Ch. 2.1 - Prob. 3TP Ch. 2.2 - Prob. 2.2AQ Ch. 2.2 - Prob. 2.2BQ Ch. 2.2 - Prob. 4TP Ch. 2.2 - Prob. 5TP

Solution Summary: The author explains that competition affects both public and private sector organizations due to the availability of more than one seller or supplier of goods and services.

Explanation of Solution

Want to see more full solutions like this?

Chapter 2 Solutions