The era of globalization in business introduced the idea of transnational labor as a flexible value. If innovation of new technologies in emerging markets gave birth to a new generation of consumers, the end result of shifting capital accumulation has been workers willing to make continuous changes in response to global opportunities.
Investment institutions defaulted in the face of market system impacts, yet less is known about the micro-economic ramifications to labor, production, and the more general problem of scarcity where resource distribution has failed to meet both company and consumer expectations. Have we adequately considered the 21st century worker as consumer in relation to market systems?
How companies and their employee stakeholders faced with closures, rising prices, and uncertain futures is the subject of this film. Key economic concept such as price elasticity in consumer spending and household economics forced many workers to self-advocacy during the period; illustrating that how much the market will bear is only part of the puzzle.
Global market systems are revealed as the driver to all actions of economic man. In the program, the implications of governance in economic policy, and in the formation of alternative community solutions to fluctuating economy are examined against a backdrop of macroeconomic forces: market failures, the law of supply and demand, price elasticity, production capacity, and governmental response.Microeconomics: Understanding the Market System
- ISBN 978-1-62290-039-8
- Run Time (19 Minutes)
- Copyright 2011
- Closed Captioned (CC)