Western International University Material



Axia College Material

Appendix B

Annotated Bibliography

o For what purpose were these sources created?

o Who is the intended audience for these sources? What factors helped you identify the audience?

o What specific criteria did you use to select these sources and to eliminate other potential sources?

o In your chosen industry, is price elasticity of demand considered elastic or inelastic? Are there substitutes available? Is the good a luxury or a necessity? Explain.

o What is the price elasticity of supply for your chosen industry? Explain.

Week _____2_____

Article One:

Article or Web site reference:

Rowley, Ian (2009). GM Bankruptcy: What It Means for Asian Rivals. Retrieved 07 01 2009, from

Summary of Article or Web site:

As the big two in the American auto industry face hitting the pavement with out a couching the Asian auto makers are well positioned behind them to take their place in line. As the economy makes it harder for the auto industry to keep their doors open with hardly any consumer buying a vehicle prices drop being the very elastic type of industry this could mean two things either face shutting doors or producing less cars which means downsizing for most. Most of us would consider an automobile to be a common necessity in our everyday lives but more common than not in other countries and including ours it’s really a luxury. While it is considered a luxury the investment potential is still there if you know who to invest into. For instance the Asian auto makers such as Korea’s auto mater Hyundai are reaping the benefits of the stock investors in their company as Gm and Chrysler head to the courts for bankruptcy.

Week3

Article reference

Mark Trumbull , Mark (2009). GM bankruptcy: How will it impact the US? . Retrieved 2009, from

o Research any negative or positive externalities the industry produces. Does the transaction of a buyer and seller directly affect a third party? Is the effect a negative or positive externality? How does the externality impact the economy?

Positive and negative externalities, it dose directly affect the third party both negative and positive, the externally impact the economy in a negative way if no one can buy gm products the bankruptcy will cause a loss of jobs a less consumer purchasing power, and higher taxes in the future due to the bail out. If people do buy cars it effects the economy in both a positive and negative way since the consumer directly relates to how the vehicle will affect the economy in ways such as waste cleanup for air pollution, road maintenance, cost of recycling and affects positively by contributing to the cyclical consumption of goods to boost the overall level of the economy.

o Research whether the industry produces public goods or private goods, or is a natural monopoly. Are the goods or resources rival, excludable, or neither? Explain

Gm Makes Both Private goods the resources are excludable and rival because goods such as cars food clothing toys and furniture are usually made for profit, the excludable part of gm is that it prevents a class of people from using their product (almost) if not paid for by the consumer or other consumers. The Rival rouse part of Gm is that typically one person owns the Product and prevents simultaneous consumption by other consumers unless bought by two people in contract and this still inhibits how the consumer uses it since only one person can drive at a time.

Summary of article

Rebuilding the economy,

This article talks about a few key concepts about the transition of general motors and what it means for the consumer, the information curtails upon the bailout and how one might get a great deal on a car but none the less some of Chryslers sales were actually profiting pretty well although the problems. With the unions creating their own monopoly inside Gm it’s none all too different to see another great company find themselves squeezed of their assets and shut down only to build it up again. With this in mind the government tried stepping in to help ease this by trying to bail the company out this could mean ramifications for the taxpayers and major impacts across the market in other areas such as manufacturing plants to part suppliers.

WEEK 6

Article Reference

Sam Pizzigati, (2007). Massive Inequality is Unexamined Fault Line Behind GM Walk-Out. alternet, Retrieved July 30 2009, from

Article Summary

This article is a reason and a possible explanation of the walk out of bewildered American working class against the Giant Gm and the separating of wealth. The situation was explained as class stratification and the term spread the wealth was not being adhered to as the Gm Head Rick Wagoner took home a jaw dropping ten million dollars after tax even though nearly fifty years ago the tax of money for the head of Gm was nearly seventy four percent, this means that Rick paid a small twenty percent. This means that he made nearly seven times the amount that the original owner made in 1950 in comparison of dollars, and the American public had seen hardly any returns from the mega bucks Gm made in its quarters.

Describe any current or past news events related to wage inequality in your chosen industry.

In 2007 the unions strikes against Gm because of the massive inequality of wage.

What were the industries, method for determining that there was an inequality?

Gross profit and percents from history and present, the current comparisons were staggering while the ability to do something about this inequality diminished causing the strike to occur

Article Two:

Article or Web site reference:

Stanley , Reed (2009). Iraq's Unsold Oil Fields. Retrieved 07 01 2009, from

Summary of Article or Web site:

Oil is still a staple in every ones life and it is still an inelastic commodity. Although most are held ransom for the price of oil other big oil companies walked away from steep deals from Iraq’s oil field sale. It’s becoming more common now that people are straying away from the former named black gold and looking toward green as the new black. Although it is still a necessity today, tomorrow is a different story as wind, solar, and geothermal trumping the costs and the emissions of oil we might see a dramatic change in our energy bills and one day may see clear air as well as an elastic market for oil once more.

Week 3

References

SCOTT MAYEROWITZ , SCOTT (june 18 2007). Going Green's no good for gas prices . Retrieved 2009, from

o Research any negative or positive externalities the industry produces. Does the transaction of a buyer and seller directly affect a third party? Is the effect a negative or positive externality? How does the externality impact the economy?

Oil is a natural monopoly because it is inherent buy owner ship of land and natural resources that cannot be replenished. The external ties of the industry are more harmful than positive, as it pollutes causes health problems and is a finite resource that could if not moved away from could cause drastic problems for the economy and the world. It dose affect the third party directly and indirectly due to the pollution and the costs inherent to the health problems caused by it.

Oil affects the overall economy buy taking way purchasing power from consumers whom buy gasoline for cars or pay for natural gas for their home if the price is too high people suffer and cannot pay their dues and if its low people buy more stuff travel more and pay for more thing affecting the economy in different manners.

o Research whether the industry produces public goods or private goods, or is a natural monopoly. Are the goods or resources rival, excludable, or neither? Explain

The product the industry produces can be labeled as common pool recourse this means that oil is non excludable and rival this is considered a natural monopoly of the good because of its finite trait and its ability to produce energy.

Summary of article

Going green no good for gas prices.

Apparently the reign that gas prices has had on many countries and the pollution it has creating campaigns to go green although this is a good thing for new business and cleaning up the atmosphere this event may be bad for our economy in the short term because of the oil industry finding out that less and less people are dependent on oils bounty alone. Our law makers are wanting to stray away from oil and move to bio fuels but the oil companies still see people consuming as much or more gas than before causing a rise in demand thus a four percent rise in pricing since last year.

Week 6

Article Reference

Naomi Spencer, (2006). US Defense And Oil Company Executives Reap Windfalls. Counter Current , Retrieved july 30 2009, from

Article Summary

To sum this up basically the article explains the Wage inequality in the oil industry combined to the war in Iraq as it is a direct correlation in cost, it further goes on to explain the budget and the compromises the bush administration made to wage the war on terrorism, It further goes on to talk about the inequality of pay in the sheer numbers from just 2001 to 2006 in which some top executives nearly pocket around a billion dollars.

The Average defense CEO pay was 308 times the pay received by a deployed US Army private in 2005, which was around $25,000.

Describe any current or past news events related to wage inequality in your chosen industry.

Sadly as the war in Iraq was being waged at the cost of tens of thousands of people on the world suspiciously while the American public is seeing hard times trying to pay for gas and make ends meet while at the normal grind of the working day the top executives of the fifteen largest oil companies in America somehow benefited immensely from the war in Iraq as they received record pay in years.

What were the industries, method for determining that there was an inequality?

Total gross pay out to top executives and the direct correlation of pay in the government in top earning military personnel not alone the military gross profit that outweighs the war alone in the hundred billions which was said to pay for the war a million times over in a year.

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