APPLYING ECONOMIC PRINCIPLES TO EDUCATION Essay Example | Topics and Well Written Essays - 250 words

APPLYING ECONOMIC PRINCIPLES TO EDUCATION - Essay ExampleThis principle amounts to greater competition in the foodstuff place. To effectively compete with each other, organizations will be forced to improve the quality of the products or services that they offer in order to extend better value to their customers. This will also be advantageous to the consumers because some companies tend to lower their prices to increase their market share. In a free market economy, people vote through their purchases of goods and services. Those getting the most votes are the ones that offer the best value for the peoples money. With support coming from the consumers, these firms have the dollar power to further improve on the quality of their products and services. Those firms who fail to attract enough customers/buyers are those who do not provide a good value. If they do not shape up, these organizations will eventually go by the wayside. 2. Are there other public functions that might benefit from more competition, including competition from personal firms? Yes, there are other public functions that might benefit from more competition, including competition from private firms. These organizations would include those in the area of health care (hospitals, day-care facilities & retreat homes), low-cost housing, transportation, telecommunications, and infrastructure.