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Critical Thinking Case Study Solution

Decent Essays

They would make sure to be there on time to pick up their children if they knew it will cost them extra money. They thought this would decrease the tardiness. However, the tardiness increased and proved them wrong. I would have schedule a meeting to inform them about a new tardy policy. The new tardy policy would state how their daycare fee will go up if they constantly picking up their child late. The tardy fee will be an extra $50 per tardiness. I think it would solve my problem because an extra $50 on top of the daycare fee is unnecessary money spent. The tardy fee can go towards the daycare fee per week instead of being tardy. The incentive is whoever does not receive a tardy fee each week will win a $50 gift card of their choice. It relates to the study of economics by solving my issue with incentives such as gift cards.

Information asymmetries is the process of deciding who has the best information regarding transactions. It can persuade a person to change their mind about something. We encounter information asymmetrics on a daily basis. For example, a person who is terminally ill and on the verge or dying will seek life insurance, …show more content…

Drug dealing is like any other business. The profits are divided amongst the gang members. You will only make a decent profit if you are located high in the gang. Ottherwise, you will not make as much money and will have to continue to stay at home with your mom until your rank moves up. The economic impact of illegal drug trafficking is an increase in crime and deaths. The leaders (top dogs) of the gang makes the money. The money is distrubited amongst the other gang members according to their rank. The impact the basic worker face is living at home with their mom until they make more money. Supply and demand is the way the system supply various resouces for criminal justice and lacks to provide resources for ways to minimize the demand for

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