Week 4 Reflection Essay

283 words - 2 pages

Juan Sanchez weekly reflection

Reflecting on the week 4 objectives I can say that it was one of the most important weeks because of the terms I have learned. Externalities influence the economy and all organizations. Positive and negative externalities are label depending on how they affect the organization in question. A negative externality to one organization can be a positive externality to another. For example an ...view middle of the document...

Economics is not just the study of the economy but the study of society as a whole. This week I have truly learned that money does make the world go around and in order to be successful in terms of money you must figure out what is happening in an ever changing society. Organizations have learned that making allies is more important than a battle of competition. Many different mergers exist and are defined as horizontal, vertical, conglomerate mergers which are the main mergers but others do exist. Government intervention is needed via taxes and regulations in order to control the economic behavior. If governments did not regulate economics then it is a strong possibility that governments could be overthrown by power organizations such as J.P Morgan, Vanderbilt, and Rockefeller. In past history this could have happen with these three strongholds. The government must protect the liberty of the less fortunate and it is done through regulations and taxes. During this week I have had an epiphany to the big picture of economics and greatly enjoyed the lessons.

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