Posts By: LuAnn Bean

Can the Consumer Resist Company Market Power?

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Goolsbee (2018) addresses the convenience factor and why we are too often bumbled into allowing a company the power to monopolize us. Questions: 1. What did researchers Brent Neiman and Joseph Vavra find out about individual purchases grocery and big-box stores? 2. Based on the Neiman and Vavra study, the more specialized the demand, the… Read more »

“You’re Fired” In A Posting for All to See!

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In November 2017, manager, Fox Lui, wanted everyone to know that an employee was leaving the Meitu company because he had fired her, so he blasted her for poor execution and not embracing the company’s “user-first” values in a posting for all to see. Questions: 1. What is Meitu’s main business? 2. What does the… Read more »

Stagnant Wages

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According to the Bureau of Labor Statistics, wages fell over the last year for ordinary, non-management workers. This is further evidence that companies are managing to avoid paying amid one of the tightest labor markets in decades. Questions: 1. What was the fall in wages from June 2017 to June 2018? 2. In two sentences,… Read more »

Hyperinflation

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According to Bloomberg, a cup of coffee cost 450 bolivars in Venezuela less than two years ago. Now, as the nation’s hyperinflation continues to skyrocket, a cafe con leche costs 1 million bolivars — or a mere 29 U.S. cents. Questions: 1. What is the most common note in circulation in Venezuela? 2. Venezuela has… Read more »

A Change in the Collection of Sales Tax

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According to Slate, the Supreme Court dragged a bit of American tax law into the 21st century when they ruled that states could force all online retailers to collect sales taxes, even if they lack a physical presence there. Questions: 1. Do you think the ruling will change buying habits? Explain. 2. What case was… Read more »

RIP – Coca-Cola Quietly Snuffs out Diet Coke Variations

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If you were a fan of Diet Coke’s variations of lime, lemon, mango, orange, and cherry, they have been quietly phased out of stores and online. Questions: 1. When were the products launched? (click on the hyperlink in the article which says: “massive overhaul of Diet Coke”) 2. The move was made to attract millenials…. Read more »

A Challenge for the Ages!

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According to Time, Dave Alexander, a local farmer in Ontario, Canada, sent his daughter to buy a cheeseburger and fries on June 7, 2012, and started a fast food experiment to test the urban legend that McDonald’s products don’t rot. Question: 1. Describe his attempt to control the experiment. 2. Why did he decide to… Read more »

The Naming of “Meat Grown in a Lab”

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The name of “meat grown in a lab” has not yet been decided by regulators, but has sparked a war of words between animal rights advocates and cattle ranchers. Questions: 1. What is the problem with calling it “Clean Meat”? 2. What has the U.S. Cattlemen’s Association done to eliminate problems for its producers in… Read more »

Move along now, no data here.

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Mick Mulvaney, the acting head of the Consumer Financial Protection Bureau (CFPB), told bankers that he is not required to post data on banking institutions that violate the rules or receive significant complaints. Questions: 1. Do you agree with the removal of these types of data from the government websites? Why or why not? 2…. Read more »

A Not-for-Profit Billion Dollar Business

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As the incident of the recent separation of some 2,300 migrant children from their families unfolded, we learned that the nonprofit, Southwest Key Programs, won more than $1 billion in federal contracts since 2015 to run shelters and/or provide other services to immigrant children in federal custody. Questions: 1. About how many contractors operate more… Read more »