Business Finance - Economics homework

1

Discussion 1 (300 words)

Watch the video clip in YouTube  https://www.youtube.com/watch?v=7FbkwrhW_0I

This is a longer version of the video, so you can start watching at 4 minutes 10 seconds.

After watching the video clip, answer the following questions:

a) How does the Prisoners' Dilemma apply in the game of Golden Balls?

b) Is the Prisoner's Dilemma entirely applicable in this game? Why or why not?

c) What would you do if you were playing this game? Explain your reasoning.  

Discussion 2(300 words)

Watch the video clip  The Corporation .

After watching the video clip  consider that labor is a derived demand. What forces are at work demanding low-skilled labor in the developing world? What could a country do to improve the types of skills demanded of its labor?