Market Structure Essay Example | Topics and Well Written Essays - 2500 words

Market Structure - Essay Example Simultaneously, economics can be defined as a way of thinking. In the present day context, business units get largely impacted by the market structure of the place or a particular nation as business performance is directly dependent on how the economy behaves in the long run. Notably, on the basis of economic situations and other features, market structure of a place is divided into several forms including perfect competition, monopolistic competition and oligopoly and each one of them has their own characteristics or features. Business units have the need to analyze these particular features to ensure the accomplishment of their business targets (Baumol & Blinder, 2011; Hubbard, 2007). In this proposed discussion, the main aim will be to describe various market structures including perfect competition, monopolistic competition, oligopoly, and monopoly along with identifying a few of the characteristics of each of the market structures. Additionally, the paper will discuss the way in which high entry barriers into the market can influence long-run profitability of a firm. The paper will also discuss price elasticity of demand of each of the market structures and its impact on pricing of products to get a more comprehensive understanding about the same. Perfect competition describes such market conditions, where a large number of sellers are involved in business activities and also the sellers are dealing with homogeneous products. Notably, in this sort of market structure, none of the players are big or large enough to capture the entire market by their operations. In such market scenarios, each of the players in the market is competent enough to ensure perfect competition for others in the same market which further augments the level of competition in the market. This sort of market structure provides utmost opportunities for business units to perform in an effective manner; otherwise they might perish while attaining long-term sustainability (Baumol

American Foreign Policy Essay Example | Topics and Well Written Essays - 750 words

American Foreign Policy - Essay Example This form of power is often employed by a country having more economic and military power over its subject. This form of power is usually achieved by use of rewards such as economic inducements, promises of military support and alliances or through threats of punishment such as economic sanctions, coercive diplomacy and military interventions. The article ‘The Practice of Foreign Policy† clearly illustrates the concept of hard power adopted by the U.S. government over the past few years. The article brings to light the growing number of countries that have at one time or another experienced intrusion or use of hard power by the U.S. government. It highlights the growing discontent among countries such as Syria over president Obama’s wayward policies. In addition, the article analyses America’s stance towards war and use of diplomacy (â€Å"The Practice of Foreign Policy† 1). The U.S has been accused of spying Brazil and other countries, which basicall y is a form of hard power. The armed forces are described as â€Å"peerless†, illustrating hard power. In Syria, the U.S. government considered the possibility of a military assault following the use of chemical weapons by the Syrian president. However, this move was voted down by the Congress. This illustrates use of hard power. The U.S. ... government has specific interest in oil, Islamic terrorism, Israel and Iran. The U.S. government has placed a number of sanctions on Iran over its nuclear power program. This illustrates hard power (â€Å"The Practice of Foreign Policy† 2). Soft power as earlier described is a situation whereby a country uses persuasive tactics such as co-opting with other countries in order to influence their interests or behavior. Soft power is becoming more and more common in the world today. The article suggests that through developing good strategies and implementing them, the Obama administration can restore confidence and win back people. Soft power can also be enhanced by use of diplomacy. The number of diplomats ought to be increased as well as taking interest in their recommendations (â€Å"The Practice of Foreign Policy† 2). The article â€Å"Making up; Soft Power† illustrates use of hard power. The U.S. invasion of Iraq in the fight against al-Qaeda has been termed as use of hard power. The U.S. government used raw power in an effort to crush the outlawed group. The America’s interest was to fight terrorism. The U.S government has been criticized on many occasions for meddling with the Middle East, yet, it does so little to solve underlying problems. In Libya, the U.S. government exercised hard power by ousting the then president Muammar Qaddaffi from power. The U.S. has interest in humanitarian welfare following Muammar’s threats to kill innocent civilians. The article also raises concerns over the U.S. government’s widespread spying by the NSA. Spying illustrates use of hard power. In 2003, the U.S, invaded Iraq. Its interest was twofold; arresting proliferation of weapons of mass destruction and show of power or might (â€Å"Making up; Soft Power† 1). The