To think critically about: Application of competition principles in both public and private organizations. Introduction: Economics is the term used for the study of production, allocation and consumption of resources. Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Question

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Answer 1

Question

Chapter 2, Problem 1CT

Summary Introduction

To think critically about: Application of competition principles in both public and private organizations.

Introduction:

Economics is the term used for the study of production, allocation and consumption of resources.

Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Expert Solution & Answer

Explanation of Solution

Given information:

The government initiated giving money directly to parents for education so that they can choose amongst any prevailing public or private school.

Explanation:

Competition affects both private and public sector organizations due to the following reasons:

Public organizations need to follow guidelines of the government and in case the quality of services is not as good as other public organizations then government may take remedial actions against responsible officers and authorities.
Public organizations often receive funds on the basis of the performance or ranking.
Public organizations which perform better get opportunities which motivate people working under the organization.
Overall public sector may feel competition from private sector as private sector is does a better job, and then there is a possibility of disinvestment by the government in that particular sector.

Public sectors may remain unaffected by the competition due to the following reasons:

Public sectors do not have to worry about earnings since; the funding is to be done by the government.
Public sector organizations do not get bankrupted therefore; such organizations do not have to worry about repayment or cash inflows to make payments.
Public sector organizations do not shut their operations in case of lack of supply or sales or lack of earnings.
Therefore, public sector organizations remain unaffected from competition amongst themselves or private sectors.

Conclusion

Thus, public sector organizations generally do not face as much competition as it is faced by the private sector.

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Students have asked these similar questions

The statement of cash flows for Baldwin Company shows what happens in the Cash account during the year. It can be seen as a summary of the sources and uses of cash (sources of cash are added, uses of cash are subtracted). Please answer which of the following is true if Baldwin issues bonds: Select : 1 It is a use of cash, and will be shown in the investing section as a subtraction. It is a source of cash, and will be shown in the investing section as an addition. It is a use of cash, and will be shown in the financing section as a subtraction It is a source of cash and will be shown in the financing section as an addition.

Last year the Digby company increased their equity. In 2023 their equity was $49,468. Last year (2024) it increased to $51,256. What are causes of change in equity? Check all that apply. Select : 3 Profits of $10,496 Depreciation of -$41,287 Issue and retirement of stock . A bond issue of$1,308. Dividend payment of$7,169. Change in inventory of$74. An accounts payable change of$1,437. A change in short term debt of-$4,147. A change of plant and equipment of$9,580. A change in cash of -$4,938. Plant Improvements of $9,580

Midyear on July 31st, the Baldwin Corporation's balance sheet reported: Total Liabilities of $101.753 million Cash of $8.040 million Total Assets of $162.426 million Total Common Stock of $5.080 million. What were the Baldwin Corporation's retained earnings? Select : 1 $55.593 million $65.753 million $63.633 million $73.793 million

Answer 2

Question

Chapter 2, Problem 1CT

Summary Introduction

To think critically about: Application of competition principles in both public and private organizations.

Introduction:

Economics is the term used for the study of production, allocation and consumption of resources.

Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Expert Solution & Answer

Explanation of Solution

Given information:

The government initiated giving money directly to parents for education so that they can choose amongst any prevailing public or private school.

Explanation:

Competition affects both private and public sector organizations due to the following reasons:

Public organizations need to follow guidelines of the government and in case the quality of services is not as good as other public organizations then government may take remedial actions against responsible officers and authorities.
Public organizations often receive funds on the basis of the performance or ranking.
Public organizations which perform better get opportunities which motivate people working under the organization.
Overall public sector may feel competition from private sector as private sector is does a better job, and then there is a possibility of disinvestment by the government in that particular sector.

Public sectors may remain unaffected by the competition due to the following reasons:

Public sectors do not have to worry about earnings since; the funding is to be done by the government.
Public sector organizations do not get bankrupted therefore; such organizations do not have to worry about repayment or cash inflows to make payments.
Public sector organizations do not shut their operations in case of lack of supply or sales or lack of earnings.
Therefore, public sector organizations remain unaffected from competition amongst themselves or private sectors.

Conclusion

Thus, public sector organizations generally do not face as much competition as it is faced by the private sector.

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Answer 3

Question

Chapter 2, Problem 1CT

Summary Introduction

To think critically about: Application of competition principles in both public and private organizations.

Introduction:

Economics is the term used for the study of production, allocation and consumption of resources.

Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Expert Solution & Answer

Explanation of Solution

Given information:

The government initiated giving money directly to parents for education so that they can choose amongst any prevailing public or private school.

Explanation:

Competition affects both private and public sector organizations due to the following reasons:

Public organizations need to follow guidelines of the government and in case the quality of services is not as good as other public organizations then government may take remedial actions against responsible officers and authorities.
Public organizations often receive funds on the basis of the performance or ranking.
Public organizations which perform better get opportunities which motivate people working under the organization.
Overall public sector may feel competition from private sector as private sector is does a better job, and then there is a possibility of disinvestment by the government in that particular sector.

Public sectors may remain unaffected by the competition due to the following reasons:

Public sectors do not have to worry about earnings since; the funding is to be done by the government.
Public sector organizations do not get bankrupted therefore; such organizations do not have to worry about repayment or cash inflows to make payments.
Public sector organizations do not shut their operations in case of lack of supply or sales or lack of earnings.
Therefore, public sector organizations remain unaffected from competition amongst themselves or private sectors.

Conclusion

Thus, public sector organizations generally do not face as much competition as it is faced by the private sector.

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Answer 4

Question

Chapter 2, Problem 1CT

Summary Introduction

To think critically about: Application of competition principles in both public and private organizations.

Introduction:

Economics is the term used for the study of production, allocation and consumption of resources.

Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Expert Solution & Answer

Explanation of Solution

Given information:

The government initiated giving money directly to parents for education so that they can choose amongst any prevailing public or private school.

Explanation:

Competition affects both private and public sector organizations due to the following reasons:

Public organizations need to follow guidelines of the government and in case the quality of services is not as good as other public organizations then government may take remedial actions against responsible officers and authorities.
Public organizations often receive funds on the basis of the performance or ranking.
Public organizations which perform better get opportunities which motivate people working under the organization.
Overall public sector may feel competition from private sector as private sector is does a better job, and then there is a possibility of disinvestment by the government in that particular sector.

Public sectors may remain unaffected by the competition due to the following reasons:

Public sectors do not have to worry about earnings since; the funding is to be done by the government.
Public sector organizations do not get bankrupted therefore; such organizations do not have to worry about repayment or cash inflows to make payments.
Public sector organizations do not shut their operations in case of lack of supply or sales or lack of earnings.
Therefore, public sector organizations remain unaffected from competition amongst themselves or private sectors.

Conclusion

Thus, public sector organizations generally do not face as much competition as it is faced by the private sector.

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Answer 5

Chapter 2, Problem 1CT

Summary Introduction

To think critically about: Application of competition principles in both public and private organizations.

Introduction:

Economics is the term used for the study of production, allocation and consumption of resources.

Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Expert Solution & Answer

Explanation of Solution

Given information:

The government initiated giving money directly to parents for education so that they can choose amongst any prevailing public or private school.

Explanation:

Competition affects both private and public sector organizations due to the following reasons:

Public organizations need to follow guidelines of the government and in case the quality of services is not as good as other public organizations then government may take remedial actions against responsible officers and authorities.
Public organizations often receive funds on the basis of the performance or ranking.
Public organizations which perform better get opportunities which motivate people working under the organization.
Overall public sector may feel competition from private sector as private sector is does a better job, and then there is a possibility of disinvestment by the government in that particular sector.

Public sectors may remain unaffected by the competition due to the following reasons:

Public sectors do not have to worry about earnings since; the funding is to be done by the government.
Public sector organizations do not get bankrupted therefore; such organizations do not have to worry about repayment or cash inflows to make payments.
Public sector organizations do not shut their operations in case of lack of supply or sales or lack of earnings.
Therefore, public sector organizations remain unaffected from competition amongst themselves or private sectors.

Conclusion

Thus, public sector organizations generally do not face as much competition as it is faced by the private sector.

Answer 6

Chapter 2, Problem 1CT

Summary Introduction

To think critically about: Application of competition principles in both public and private organizations.

Introduction:

Economics is the term used for the study of production, allocation and consumption of resources.

Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Expert Solution & Answer

Explanation of Solution

Given information:

The government initiated giving money directly to parents for education so that they can choose amongst any prevailing public or private school.

Explanation:

Competition affects both private and public sector organizations due to the following reasons:

Public organizations need to follow guidelines of the government and in case the quality of services is not as good as other public organizations then government may take remedial actions against responsible officers and authorities.
Public organizations often receive funds on the basis of the performance or ranking.
Public organizations which perform better get opportunities which motivate people working under the organization.
Overall public sector may feel competition from private sector as private sector is does a better job, and then there is a possibility of disinvestment by the government in that particular sector.

Public sectors may remain unaffected by the competition due to the following reasons:

Public sectors do not have to worry about earnings since; the funding is to be done by the government.
Public sector organizations do not get bankrupted therefore; such organizations do not have to worry about repayment or cash inflows to make payments.
Public sector organizations do not shut their operations in case of lack of supply or sales or lack of earnings.
Therefore, public sector organizations remain unaffected from competition amongst themselves or private sectors.

Conclusion

Thus, public sector organizations generally do not face as much competition as it is faced by the private sector.

Answer 7

Chapter 2, Problem 1CT

Summary Introduction

To think critically about: Application of competition principles in both public and private organizations.

Introduction:

Economics is the term used for the study of production, allocation and consumption of resources.

Competition in economics refers to the availability of more than one seller or supplier of goods and services due to which buyers have the option to choose one amongst others.

Answer 8

Expert Solution & Answer

Explanation of Solution

Given information:

The government initiated giving money directly to parents for education so that they can choose amongst any prevailing public or private school.

Explanation:

Competition affects both private and public sector organizations due to the following reasons:

Public organizations need to follow guidelines of the government and in case the quality of services is not as good as other public organizations then government may take remedial actions against responsible officers and authorities.
Public organizations often receive funds on the basis of the performance or ranking.
Public organizations which perform better get opportunities which motivate people working under the organization.
Overall public sector may feel competition from private sector as private sector is does a better job, and then there is a possibility of disinvestment by the government in that particular sector.

Public sectors may remain unaffected by the competition due to the following reasons:

Public sectors do not have to worry about earnings since; the funding is to be done by the government.
Public sector organizations do not get bankrupted therefore; such organizations do not have to worry about repayment or cash inflows to make payments.
Public sector organizations do not shut their operations in case of lack of supply or sales or lack of earnings.
Therefore, public sector organizations remain unaffected from competition amongst themselves or private sectors.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Conclusion

Thus, public sector organizations generally do not face as much competition as it is faced by the private sector.

Answer 12

Ch. 2.1 - Prob. 2.1AQ Ch. 2.1 - Prob. 2.1BQ Ch. 2.1 - Prob. 2.1CQ Ch. 2.1 - Prob. 1TP Ch. 2.1 - Prob. 2TP Ch. 2.1 - Prob. 3TP Ch. 2.2 - Prob. 2.2AQ Ch. 2.2 - Prob. 2.2BQ Ch. 2.2 - Prob. 4TP Ch. 2.2 - Prob. 5TP

Solution Summary: The author explains that competition affects both public and private sector organizations due to the availability of more than one seller or supplier of goods and services.

Explanation of Solution

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