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Pages:
3 pages/≈825 words
Sources:
3 Sources
Style:
MLA
Subject:
Mathematics & Economics
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 12.96
Topic:

To What Extent Should Government Regulate Competition?

Essay Instructions:

Task: In this assignment, you will determine which of the essential questions you would like to explore. You will choose a side in a real controversial merger, debatable monopoly case, and/or argument between a business and its employees, argue your case while recognizing the value of the opposing side.


 


S3: In-Class: Competition and Regulation Skill Goal: Your skill goal is to develop the ability to recognize an alternative argument from your own, in order to strengthen the integrity of your argument. Task: In this assignment, you will determine which of the essential questions you would like to explore. You will choose a side in a real controversial merger, debatable monopoly case, and/or argument between a business and its employees, argue your case while recognizing the value of the opposing side. Essential Question: 1. To what extent should government regulate competition? 2. How does competition influence the relationship between business and labor? How to Use Your Formatives: You will use your independent learning subjects as the content foundation for your argument. The research you conducted in your formatives will be the evidence you use to support your argument. The analyses and evaluations you have already conducted can be used to craft your argument and the alternative argument. For this summative, you can choose from the formats listed below. During the course of this year, you will have 6 long-term assessments. You can only use the individual formats below twice this year and you cannot use the same format on consecutive assessments. 1. Thesis paper 2. Infographic 3. Documentary 4. Construct a debate 5. Design a social media campaign 6. Record a podcast Requirements for all formats: ● A direct and original answer to the essential question ● All sources are credible, recent, and cited in MLA format ● A majority of unit vocabulary is used throughout your argument ● Summative must be submitted on Canvas. ● All formative assessments must be complete and meeting expectations to earn a reassessment for full credit. Requirements for individual formats: 1. Thesis paper: a. Paragraph form b. Complete sentences c. Spelling checked 2. Infographic: a. Equal mix of visual and text elements b. No essay type paragraphs c. If done on the computer, all images must be cited if not original d. If done by hand, must be done in ink 3. Documentary: a. Must have some original recording b. All images that are not original must be cited 4. Construct a debate: a. Must have two sides b. Each side must have an opening argument, main points, and a rebuttal to the other side 5. Design a social media campaign a. If making a real account, set to private and have follow the account b. Must use real hashtags and tag real people or organizations c. Must have at least 2 original images 6. Record a Podcast a. Must have a title and theme to the show b. Must have a guest Insert the link to your summative product in the box below (if you created a social media account, please type the name of the account and the form of social media you used): Cite your sources in proper MLA format in the box below (you can copy and paste the citations from your formatives, but you must add any additional sources): S3: Rubric: Below Expectations 70% Approaching Expectations 85% Meeting Expectations 95% Exemplifying Expectations 100% Knowledge and Understanding KU.001 KU.002 Student does not demonstrate comprehension of economic concepts because explanations are not clear and/or relevant, and/or explanations are Student attempts to demonstrate comprehension of economic concepts but some explanations are not clear and/or relevant, and/or Student demonstrates comprehension of economic concepts by providing clear and relevant explanations in their own words while Student demonstrates comprehension of economic concepts by providing clear and relevant explanations in their own words while not in their own words, and/or vocabulary is not used or not used clearly or in context. some explanations are not in their own words, and/or some use of vocabulary is unclear or out of context. demonstrating fluency and intention with their use of unit vocabulary. demonstrating fluency and intention with their use of unit vocabulary.., by using this skill beyond the requirements of the assignment. Teacher Feedback: Explanation for Reassessment: Below Expectations Approaching Expectations Meeting Expectations Exemplifying Expectations Application and Analysis AA.002 AA.003 Student does not differentiate evidence and/or support appropriate arguments. Student attempts to differentiate evidence but is not always accurate and/or does not always support appropriate arguments. Student accurately differentiates evidence to clearly support appropriate arguments. Student accurately differentiates evidence to clearly support different arguments, by using this skill beyond the requirements of the assignment. Teacher Feedback: Explanation for Reassessment: Synthesis and Evaluation SE.001 Student does not use economic theories and models effectively to evaluate economic issues because information is not clear and/or relevant. Student attempts to use economies theories and models to evaluate economic issues but is not fully effective because not all information is clear and/or relevant. Student effectively uses economic theories and models to evaluate economic issues in a clear and relevant manner. Student effectively uses economic theories and models to evaluate economic issues in a clear and relevant manner, by using this skill beyond the requirements of the assignment. Teacher Feedback: Explanation for Reassessment: Below Expectations 70% Approaching Expectations 85% Meeting Expectations 95% Exemplifying Expectations 100% Synthesis and Evaluation SE.004 Student does not make a clear argument, and/or does not support this argument with relevant evidence, and/or does not recognize an alternative argument. Student attempts to make an argument, but argument is not always clear and/or evidence is not always relevant, and/or alternative argument is not clear or relevant. Student makes a clear argument, and supports this argument with relevant evidence while recognizing an alternative argument. Student makes a clear argument, and supports this argument with relevant evidence and recognizes an alternative argument, by using this skill beyond the requirements of the assignment. Teacher Feedback: Explanation for Reassessment: Below Expectations 70% Approaching Expectations 85% Meeting Expectations 95% Exemplifying Expectations 100% Communicatio n, reporting, and production CO.001 CO.002 Student does not edit final product and there are many spelling, and/or capitalization, and/or formatting errors that distract from the work itself. Student attempts to edit final product but there are some spelling, and/or capitalization, and/or formatting errors. Student edits final product to be free of spelling, capitalization, and formatting errors. Student edits final product to be free of spelling, capitalization, and formatting errors, by using this skill beyond the requirements of the assignment. Teacher Feedback: Explanation for Reassessment: Below Expectations 70% Approaching Expectations 85% Meeting Expectations 95% Exemplifying Expectations 100% Communicatio n, reporting, and production CO.003 Student does not cite all sources in MLA format and/or sources are not credible or recent. Student attempts to cite all sources in proper MLA format but has mistakes, and/or some sources are not credible or recent. Student cites all sources in proper MLA format with no mistakes and all sources are credible and recent. Student cites all sources in proper MLA format with no mistakes and all sources are credible and recent., by using this skill beyond the requirements of the assignment. Teacher Feedback: Explanation for Reassessment: Grade: 16.11-12.SOC.KU.001 - Student uses social science concepts and terminology in context. 16.11-12.SOC.KU.002 - Student demonstrates knowledge and understanding of subject-specific content and concepts through developed descriptions, explanations, and examples. 16.11-12.SOC.SE.001 - Student uses various social science concepts, theories, practices, and models to evaluate issues, events and ideas. 16.11-12.SOC.SE.004 - Student synthesizes data in order to make valid, substantiated arguments. 16.11-12.SOC.CO.001 - Student communicates information and ideas using an appropriate style for the social sciences. 16.11-12.SOC.CO.002 - Student designs information and ideas in a way that is appropriate to the social sciences. 16.11-12.SOC.CO.003 - Student documents and references sources of information using recognized social sciences conventions.

Essay Sample Content Preview:
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To What Extent Should Government Regulate Competition?
A regulated market or in other words controlled market refers to an idealized system in which the government regulates the forces of supply and demand in an attempt to control unfair competition (Stucke 162). Some of the aspects regulated include the prices of goods in a particular industry or the amount or raw materials or good a given company should access. Nevertheless, capitalism has undermined the role of government in business operation because it states that the owners of the business have power over their products and can charge them whatever prices they deem reasonable as long as they make profits. The system is also referred to as a free market. One of the most controversial issues in contemporary economics is the extent to which a government should regulate the market (Stucke 165). The opponents of strict regulation of business contend that government influence on the market activities should be strictly limited because any form of intervention from the authorities tend causing inefficiency in the allocation of resources. Nevertheless, the proponents of the government market regulation have a contrasting opinion on the matter and indicate that in a free market system, there is an increased likelihood of unfair competition, which will lead to inequality in income, opportunities and wealth, and that government intervention is important in redistributing income in any society (Stucke 167). Regulating competition is important in the market and its benefits outweighs its shortcomings.
First, unfair competition in business has led to some parties accumulating huge amount of wealth, leaving others with none (Stucke 163). Capitalism has resulted in inequality as far as income is concerned, which in-turn has resulted in several problems such as low wages. In a free market system, the inequality is created through monopoly power and privilege. The absence of government regulation may result in firms exploiting monopoly power to pay their worker's low salaries and charge consumers high prices on their goods. Therefore, the lack of government intervention will likely lead to the growth of monopoly power as it has been observed in some industry such as retail in the United States where retailers such as Amazon and Walmart have dominated the market for a long time (Stucke 163). Regulation of business is important as it diminishes the power of monopolies and promotes healthy competition where each business obtains a fair share as opposed to a free market system. Moreover, regulating monopolies play a critical role in preventing excess prices on goods since businesses cannot charge goods above competitive equilibrium, which promotes consumer welfare (Stucke 163).
According to public interest theory of regulation, regulation protects and benefits public at large, because it ensures stabilization, just and fair income distribution (Shleifer 439). In contemporary economies, market coordinates the allocation of scarce resources. In theory, such allocation appears optimal, but these conditions rarely comply with...
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