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Discuss how article relates to Basic Principles of Economics

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Assignment -

Choose an article published in the last two weeks in one of these three resources (Wall Street Journal, Business Week, Economist). Discuss how the article relates to one or more of the Ten Basic Principles of Economics:

  • People Face Trade-offs.
  • The Cost of Something Is What You Give Up to Get it.
  • Rational People Think at the margin.
  • People Respond to Incentives.
  • Trade Can Make Everyone Better Off.
  • Markets Are Usually a Good Way to Organize Economic Activity.
  • Governments Can Sometimes Improve Market Outcomes.
  • A Country's Standard of Living Depends on Its Ability to Produce Goods and Services.
  • Prices Rise When the Government Prints Too Much Money.
  • Society Faces a Short-Run Trade-off between Inflation and Unemployment.

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The report is about the recent article in wall street journal. The article titled as "tax reforms as remedy for outsourcing". The recent GOP tax reforms worked on to reduce the advantage of the pharma companies to do outsourcing. The discussion is presented with illustration of the companies and the advantages they received in outsourcing and the tax reforms proposed to curb the same. Overall sense the article is an example to illustrate how government can improve the market outcomes. Reference to the article is provided there in.

Reference no: EM132327954

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