Topic: Microeconomics Discussion Questions Michael Jordan and others like him command extraordinary salaries for a number of reasons. They happen to have a bundle of talents that is exceedingly rare and in the world of advertising, they inspire loyalty and envy in the minds of a number of potential buyers of merchandise…
The dispersed sponsorship of many interested parties also expands the costs of the advertising and revenues over a larger pool of potential recipients. In the end, the provision of these seemingly enormous salaries is craftily calculated to ensure that the highest bidder gets to retain Jordon’s talents for maximum return. Economic rent is “any excess payment for a service, good or property above and beyond the minimum amount at which the person receiving payment would still have agreed to the deal.” It refers to the money above and beyond the minimum amount to employ a given resource or employee in this case. There is certainly what some would refer to as inflated salaries in professional sports where about 60% of the revenue goes to a few employees in the company. At the other end of the spectrum, one can visit any number of fast food restaurants and discover that all the employees are making more than minimum wage because the rents are required to attract service staff. Whether a college student, entrepreneur or salaried employee, companies and entities have to offer salaries above and beyond what will satisfy simply keeping the lights on. ...
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The scholars attribute this to affect the Renaissance had on psychology due to looking into the future and the past at the same time. Renaissance restores the consciousness of the individual so as they can neglect subjective data. Views that are non-pathologized were encourages because it opened a whole new way of thinking (Clay, 2002).
This is because they accept death without fear and thereby developing a positive stance to the situation that cannot be controlled, otherwise their attitude could be fatal and would lead to defeat. It is believed that people who fight with the fear of losing their lives are not ready to sacrifice and there is no way they can help their nation win any significant warfare.
The lack of willingness to make a fair bet in a given event that has attached varied benefits and possible losses may subject one to pay more to avoid incurring huge losses. Perloffin his book, Microeconomics, defines risk premium as “the amount that a risk averse person would pay to avoid taking a risk.” In real market situation, the decision to invest either in stock, government bonds or keep the cash may be problematic.
Sappho, one of the most famous of women poets in ancient Greece is also controversial in the sense that her views are seen as lesbian by modern standards. Here, she request Aphrodite to come down in her chariot drawn by sparrows and offer solace.
s there are many other factors contributing as well for as we learned before a good leadership may also get a bit weak at a point when they the senior people there do not let others do the work wanting their hold and power to stay and be visible. The Carvers model incorporate
he theory of inaction, Tzu may have been influenced by the fact that forced events in life normally are costlier in the sense that they often attract inordinately higher attention and resistance from enemies of progress. As such, penetrating the hurdles on the way becomes more
In most cases, the thieves or criminals may be visitors and not regulars in a place and thus controlling their movement ensures other honest people could keep eyes on them (Coaffee, 2008). Intuitively, this could be done by
The author states that Mexican-American history spans more than 400 years and varies from region to region within the United States. Approximately ten percent of the current Mexican-American population are descended from the early colonial settlers; their families claim hundreds of years' residency in the country.
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