Principles Employments And State Licensing Of Electronic Commodities (Coursework Sample)
The assignment was about how the government can license different business but specifically about electric gadgets so that to reduce the number of occurring accidents which are as a result of fake gadgets installationsource..
Principles governing employments and state licensing of electronic commodities.
The principle that states skills and knowledge influence income would best suit the salaries earned by athletes. It clearly explains that an employer will hire workers if only employers expect to gain more than they can give. The principle further explains that also other entertainers fall in the category.
1 In his principles of economics, the cost of something is what you give up to get it. In references to the theories, the team can hire the highly paid pitcher under the following circumstances. (Gregory Mankiw)
* If the new pitcher has the ability, talent and skills which brings more advantage to the team. High player's ability and hard work means better results to the team, thus leading to more income. Low player's ability means low performance to the team hence no profits made.
* If the team does not have another pitcher who matches the standards required by the team, the bringing in a new pitcher would be necessary. There would be no need of bringing in a new pitcher if the team already has one.
* If the team's financial state allows it to bring in a new highly paid pitcher: Finances commands all activities in any organization. It would be better to evaluate the player's salary long term effect to the team before bringing in the new player.
1 If the government of the states of New Jersey decides to pass a tough licensing examination, the market of electricians may be affected through:
* Tough licensing law mostly is accompanied by high financial fines which may directly affect the capital of the electrician therefore affecting his or her strength in the current market.
* The law also will ensure few licensed electricians which means that the labor source will be reduced. This factor brings in a positive effects to the few electricians rendering the services and therefore due to increased demand, installation cost will automatically rise up hence benefiting the few licensed.
* The majority who remain unlicensed may end up quitting the occupation as they do not qualify to keep competing in the market due to the restrictions.
Safety may not improve because, the few licensed mostly have a big law of satisfying the increased market, hence the may cause serious or minor errors during installation of the electrical gadgets. Also, if more laws are introduced, the possibility of breaking them becomes high. Example,
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