Write an assignment on taking 5 businesses around you and bifurcate these under different forms of market in economics on the basis of characteristics. Also analyse how their market equilibrium will be different from each other
Sample solution
Dante Alighieri played a critical role in the literature world through his poem Divine Comedy that was written in the 14th century. The poem contains Inferno, Purgatorio, and Paradiso. The Inferno is a description of the nine circles of torment that are found on the earth. It depicts the realms of the people that have gone against the spiritual values and who, instead, have chosen bestial appetite, violence, or fraud and malice. The nine circles of hell are limbo, lust, gluttony, greed and wrath. Others are heresy, violence, fraud, and treachery. The purpose of this paper is to examine the Dante’s Inferno in the perspective of its portrayal of God’s image and the justification of hell.
In this epic poem, God is portrayed as a super being guilty of multiple weaknesses including being egotistic, unjust, and hypocritical. Dante, in this poem, depicts God as being more human than divine by challenging God’s omnipotence. Additionally, the manner in which Dante describes Hell is in full contradiction to the morals of God as written in the Bible. When god arranges Hell to flatter Himself, He commits egotism, a sin that is common among human beings (Cheney, 2016). The weakness is depicted in Limbo and on the Gate of Hell where, for instance, God sends those who do not worship Him to Hell. This implies that failure to worship Him is a sin.
God is also depicted as lacking justice in His actions thus removing the godly image. The injustice is portrayed by the manner in which the sodomites and opportunists are treated. The opportunists are subjected to banner chasing in their lives after death followed by being stung by insects and maggots. They are known to having done neither good nor bad during their lifetimes and, therefore, justice could have demanded that they be granted a neutral punishment having lived a neutral life. The sodomites are also punished unfairly by God when Brunetto Lattini is condemned to hell despite being a good leader (Babor, T. F., McGovern, T., & Robaina, K. (2017). While he commited sodomy, God chooses to ignore all the other good deeds that Brunetto did.
Finally, God is also portrayed as being hypocritical in His actions, a sin that further diminishes His godliness and makes Him more human. A case in point is when God condemns the sin of egotism and goes ahead to commit it repeatedly. Proverbs 29:23 states that “arrogance will bring your downfall, but if you are humble, you will be respected.” When Slattery condemns Dante’s human state as being weak, doubtful, and limited, he is proving God’s hypocrisy because He is also human (Verdicchio, 2015). The actions of God in Hell as portrayed by Dante are inconsistent with the Biblical literature. Both Dante and God are prone to making mistakes, something common among human beings thus making God more human.
To wrap it up, Dante portrays God is more human since He commits the same sins that humans commit: egotism, hypocrisy, and injustice. Hell is justified as being a destination for victims of the mistakes committed by God. The Hell is presented as being a totally different place as compared to what is written about it in the Bible. As a result, reading through the text gives an image of God who is prone to the very mistakes common to humans thus ripping Him off His lofty status of divine and, instead, making Him a mere human. Whether or not Dante did it intentionally is subject to debate but one thing is clear in the poem: the misconstrued notion of God is revealed to future generations.
References
Babor, T. F., McGovern, T., & Robaina, K. (2017). Dante’s inferno: Seven deadly sins in scientific publishing and how to avoid them. Addiction Science: A Guide for the Perplexed, 267.
Cheney, L. D. G. (2016). Illustrations for Dante’s Inferno: A Comparative Study of Sandro Botticelli, Giovanni Stradano, and Federico Zuccaro. Cultural and Religious Studies, 4(8), 487.
Verdicchio, M. (2015). Irony and Desire in Dante’s” Inferno” 27. Italica, 285-297.
Sample Answer
Sample Answer
Title: Analysis of Local Businesses and Their Market Characteristics
Introduction:
In this assignment, we will examine five local businesses and categorize them into different forms of markets based on their characteristics. Furthermore, we will analyze how the market equilibrium of each business differs from one another. By understanding the distinct market structures, we can gain insights into the dynamics of these businesses and their impact on the local economy.
I. Perfect Competition:
Business A: Farmer’s Market
Characteristics:
Numerous buyers and sellers offering homogeneous products.
Ease of entry and exit into the market.
No individual seller has control over price.
Market Equilibrium:
In perfect competition, the market equilibrium is determined by the intersection of supply and demand. The price is set at the point where quantity demanded equals quantity supplied.
II. Monopoly:
Business B: Local Utility Company
Characteristics:
Single seller with complete control over the market.
High barriers to entry, limiting competition.
Unique product or service without close substitutes.
Market Equilibrium:
In a monopoly, the market equilibrium is determined solely by the monopolist’s decision-making. The monopolist sets the price and quantity of goods or services to maximize their own profits.
III. Oligopoly:
Business C: Local Telecommunications Providers
Characteristics:
Small number of large firms dominate the market.
High interdependence among firms, leading to strategic decision-making.
Products may be differentiated or homogeneous.
Market Equilibrium:
In an oligopoly, the market equilibrium is influenced by the strategic interactions among firms. Price and output decisions depend on factors such as pricing strategies, advertising, and product differentiation.
IV. Monopolistic Competition:
Business D: Local Coffee Shops
Characteristics:
Many sellers offering differentiated products.
Ease of entry and exit into the market.
Limited control over price due to product differentiation.
Market Equilibrium:
In monopolistic competition, the market equilibrium is determined by the interaction between demand and supply conditions for each individual firm. Price and quantity are set where marginal revenue equals marginal cost.
V. Duopoly:
Business E: Local Gas Stations
Characteristics:
Two dominant firms in the market.
Interdependent decision-making between the two firms.
Homogeneous product or slight product differentiation.
Market Equilibrium:
In a duopoly, the market equilibrium depends on the strategic interactions between the two firms. Price and quantity decisions are influenced by factors such as pricing agreements, market share, and competitive behavior.
Conclusion:
By examining these five local businesses through the lens of economic market structures, we have gained insights into their distinctive characteristics and how they impact market equilibrium. Perfect competition, monopoly, oligopoly, monopolistic competition, and duopoly all have their unique dynamics that shape pricing, output decisions, and market outcomes. Understanding these market structures helps us comprehend the complexities of local businesses and their contributions to the overall economy.
