How The Free Marketplace Within Our Economy

Apple Inc. commonly known as Apple has effectively managed to be a successful company in a very competitive consumer electronics industry by been innovative and differentiating the company’s products with similar products in the markets by offering high quality products and good customer service while the actual manufacturing of the products is outsourced to trusted third party suppliers. On a wider perspective, the company has set high standards that even the company itself has to be on its level best to maintain the standards that it has set. Over the last few years, the consumer electronics market has

Apple was established as an IT company dealing in exclusively in computers. However, competition in the technology sector forced the firm to focus on other consumer products. The diversification strategy has seen Apple’s sales grow tremendously in the last decade, earning the firm the No. 1 brand position at Forbes. The Apple brand is recognized on an international scale and enjoys a strong recognition thanks to its aggressiveness when it comes to creativity and innovation (Tar, 2013). It has a large number of loyal customers who would purchase the new products regardless of the market price, which guarantees profits from the new division.

The goal of the government and the citizens of the United States should be to incorporate a mixed economy market. Private industries supply most goods and services, and most of the economic productivity supports personal demands. Many American believe that the economy should be based solely on supply and demand. Prices and needs should dictate the market, production and opportunities. However, there are restrictions to the free market system. The government is accountable for education, infrastructure, management of the legal system, national defense, and other programs that are imperative to maintaining the United States. Citizens can help to influence the economy through consumer choices and election decisions. Therefore, both the free market

In 2008, the United States went through one of the most significant economical period in history. The housing market and banks started to fail and people were unable to pay off their loans on the houses. This lead to a giant need for government intervention in determining which investment banks and corporations were worthy of being considered “too big to fail”. If they were in this category, the government would supply them with the funds necessary to not go bankrupt. Most of the time, the corporations would put this money towards consolidating their balance sheets, rather than solving the problems. This paper looks in depth into the 2008 financial crisis: the course

Over the past several decades, obesity has grown into a major global epidemic. More so, obesity is a major issue in the United States as well, just in this country more than two-thirds of adults are now overweight and one-third is obese . The issue is not however due to one factor but multiple factors in people's daily lives. One of those factors could be the Free market economy. According to Investopedia, the term “free market” is sometimes used as a synonym for laissez-faire capitalism. When most people discuss the “free market,” they mean an economy with unobstructed competition and only private transactions between buyers and sellers. However, the more complete definition should include any voluntary economic activity so long as it is

Personal growth, expanded understanding of the world and social movement are the most consistent outputs of a college education. The power of an education and its ability to change both the way an individual lives and thinks cannot be understated. The educational system and its ability to affect the positive growth of our nation allows the government to fully harness the powers of its people. Humanity has long depended on the expansion of human knowledge and technology to further human progress. America as the most powerful and wealthy nation in the world must take measures to expand their university system to further meet the increasing demand for educated workers in a globalized economy. The current free market system has pushed the need for a solution for universities to furnish domestic companies with skilled workers. We can solve the student debt crisis by adapting to a more universal stance on education, in doing so we will greatly improve the quality of life for our population. In this essay I will discuss why education should be made available to all, the value of an education and some problems and solutions to solve the current struggles of our educational system to better meet the needs of our citizens.

The US has been leading the world economy with its model of free-market capitalism for last three decades. We have been told that, if left alone, markets will produce the most efficient and effective outcome. Because individuals know what the best way is and they are the ones who will be rewarded according to their productivity. Therefore, maximized freedom and minimized state intervention have been regarded as the most beautiful contribution to economic development.

During my stay in America, I was pleasantly surprised to witness the changes that had occurred in the last two centuries. Ironically, the mercantile power that was Great Britain is now economically on par with its former colony of America. As I presumed, free market economies are far stronger than their former mercantilist counterparts as they are the standard in modern democratic societies. It seems that global economies now realize that the market is not a zero-sum game, mutually beneficial deals can be reached that facilitate free trade which stimulates market activity.

Prior to the Great Depression, the United States government was very small and did not possess many agencies or programs. There was also a general belief in a free-market economic system throughout the United States, with the idea that the economy was capable of regulating itself. In 1929, however, the stock market crashed due to speculation. Since there was no regulatory agency to manage and protect investments, many people lost money, their jobs, and banks were forced to close down. In 1930, the southwestern region of the United States suffered a severe drought due to over-farming. This area of land became a gigantic area of unfarmable dust that would spread throughout the continent. The farming families in the area were then unable to provide for their families and struggled financially, which forced them to migrate to the west in search of employment.

In the last decade Apple Inc. has yielded exponential growth. As a company, the imaginative and invocative approaches of technological product advancements have enable Apple, Inc. to achieve an elite status among technology companies throughout the world. Apple, Inc. serves as an inspiration to many companies through higher benchmark standards they created. Though their product margin is not as vast as most technological competitors, Apple, Inc. innovates and releases a new product to consumers. Apple, Inc. has proven to able to move and create new markets with one product that allows Apple, Inc. to rain as the elite player in technology.

Every company’s biggest challenge is competition. In analyzing the 2012 case study, it can be said that Apple’s biggest challenge is competition and new entrants to the market. Their supplier power is high, buyer power is high, and substitute goods concerns is relatively high. The case study highlighted that as Apple continued to successfully produce great products, and increased sales worldwide, competitors saw Apple as a threat and tried to copy their style. According to the case study, Apple’s biggest concerns for the company going into the third quarter in 2012, were how Google’s entry into the market for smartphones and tablets would affect the company’s sales of the iPhones and iPads. In 2011, iPad and iPhones contributed tremendously to boosting the company’s performance in 2011 and 2012. Apple’s biggest competitor with regards to mobile devices is Samsung, which managed to attain the title of the world’s largest smartphone seller in 2011 and early 2012.

The United States is known to operate in a free market economy. In other words, the economy is based solely on supply and demand with little to no government control. In reality, however, the United States has various government regulations on our country’s market. The amount of regulation that is necessary is a continuing debate among politicians and economists to this day. Some would say that the key to a successful market economy is to remove government restrictions in order to force businesses to provide superior products and services at affordable prices. Yet, others assert that government regulations are essential in protecting consumers, stemming from the assumption that corporations are not always looking out for the public’s interest. Of course, there are various advantages and disadvantages associated with each level of regulation, however it is safe to assume that there must be a balance between an unregulated free market and a regulated economy in order to protect people and the environment and allow the economy to flourish.

Capitalism is an economic system that dominates the world, some claim it is the key to a better world, taking the poor out of poverty and building an closer world, while other believe it is an exploitative system that oppresses billionS of people. Capitalism and the free market began to take from around the industrial revolution and came as a result of philosopher and economist Adam Smith and David Ricardo. Adam Smith’s book the wealth of nations was the template for many modern western nations. The free market is Adam Smith’s brainchild; the revolutionary theory was based on the antithesis of the mercantile system that was in place in its prominence during the 16 - 18th centuries. The convention was for nations building their wealth overseas through a complicated system of protectionism. Mercantilism adhered to a zero sum game ideology and was centred around the belief the nation’s wealth was based on its holding of precious metals or resources and its duty to protect their interests, which meant the government needed to implement restrictions and regulations on trade with other states. In order to protect their economy and in what they feel would increase their wealth, policies like tariffs on foreign goods, duties, bounties, etc. Smith argued against the mercantilist framework from a number of positions; trade restrictions and regulations interfered with natural prices, reduced the specialisation within industries, reduced the country consumption and had an ineffective

Technology is a contemporary artefact, which is constantly evolving in our modern day world. There has been an increase of companies appointed to sell innovative technology to hungry consumers. Apple, a multi- billion-dollar industry has contributed largely to the reconstructed views society has placed on technology. Doing so by crafting a range of products, such as mobile phones, desktop computers, laptops, tablets and portable music devices that are each ingenious, practical, and sleek in design. The ability for these products to undertake a range of functions has thus attracted a large scope of audiences and consequently changed the way in which we live.

Even though Apple has encountered many setbacks, it continues to bring new and improve products to the market. Apple’s competitive strategy has been innovation. They have made an extraordinary effort developing, implementing, and executing its very unique strategy through innovation which has resulted in new product, and the enrichment of the existing ones. More specifically, Apple attempts to meet and supply the needs of a global market, by offering eager and enthusiastic consumers with innovated and high-quality products and services. Apple has employed a differentiation strategy linked to innovation with its three core products (computers, personal media player, mobile phones, tablets and other accessories). A key piece of their strategy involves meeting the needs of the converging digital electronics and computer markets. Apple has elected to implement its strategy by designing and developing proprietary operating systems and software technologies, thus allowing for strict protection of its intellectual rights.