ECO 365 Week 5 DQs

This work of ECO 365 Week 5 Discussion Questions consists of:

DQ 1: What are the impacts 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 has technological innovations affected your organization?

DQ 2: What factors influence a firm’s competitive strategies? How does global economic competition impact the price elasticity 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 NAFTA? Explain your answer.

DQ 3: How do you define social diversity and business ethics? How has a more diversified labor force affected the corporate structure and the economy? What are some potential roadblocks, ethical or otherwise, in promoting a diverse workplace? Explain your answer.