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Essay / Research Paper Abstract
This 4-page paper focuses on Wal-Mart and its impact on microeconomics. Under discussion are labor wages, competition and low prices. Bibliography lists 2 sources.
Page Count:
4 pages (~225 words per page)
File: D0_MTwalecn.rtf
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Unformatted sample text from the term paper:
which consumers shop (most people can shop for convenience now, thanks to Wal-Marts "SuperCenters"). Its also influenced the face of retail (as Wal-Mart SuperCenters continue to grow, grocery stores are
including non-grocery inventory in their stores, while Wal-Marts competitors are also developing their own super centers). Its also safe to say that Wal-Mart
is influencing microeconomics in the U.S. In this paper, well discuss some reasons as to why this theory is so. In theory, Wal-Mart
is basically a store that is responsive to consumer demand. Prices are low, shopping is convenient, meaning consumers are happy (Goldsborough, 2004). But in terms of impacting the economy, these
low prices means a demise of neighborhood stores (especially supermarkets), an influx of "illegal" immigrants (thus lowering wages for U.S. workers, as the illegal immigrants will work for less
money) and use of foreign suppliers to replace U.S. companies (Goldsborough, 2004). Basically, whether people support Wal-Marts or not, there is little doubt that this particular company is changing economics
as we know them, and is having a huge impact on microeconomics. In economic theory, "pure competition" is supposed to drive down prices,
with the goal being that everyone benefits (Goldsborough, 2004). Consumers have lower prices, owners have profits and workers end up with higher wages (Goldsborough, 2004). The problem here, according to
many experts is that through Wal-Mart, the prices are low and the owners are rich. But what isnt happening is that workers have higher wages.
One reason for this is because Wal-Mart pays minimum wage for the most part, and minimum wage, while high, isnt necessarily high enough for "conspicuous consumption." But another
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