Key Characteristics of U.S. Economic System
Property Rights and Property Rights for Sesame Street (below)
1. What do social critics of property rights want to do with them?
2. What is a property right?
3. What are the three (3) attributes of property rights?
4. What are the reasons cited on why restrictions on property rights are detrimental to society?
5. What are the fundamental purpose and accomplishment of property rights?
6. What is the argument against rent control?
7. What are the two extremes in weakened property rights?
8. What are the arguments he makes about the adverse effects of socialism?
9. What is the example of shared property rights the author cites?
10. What are the issues associated with property rights that lead to the creation of environmental laws?
11. Do you agree with the author's contention that property rights are human rights? Why or why not?
12. How did the mom in the article solve the property rights issue?
13. What values did this exercise instill in her children?
Tech's Fiercest Rivalry (bottom)
1. What service do Uber and Lyft both provide?
2. What existing service provider are they trying to put out of business?
3. What tactics are Uber and Lyft using to compete against each other
4. Who's winning the competition, Uber or Lyft? And based on what measurements?
5. What are the allegations each company has made against the other?
6. What are the incentives they are offering to attract new drivers?
7. What new service did both companies recently enter into?
8. What is the pricing strategy of these two companies?
9. Analyze how (or if) this competition benefits:
- taxi service owners
- taxi drivers
- limousine companies
10. Would you ever drive for Uber or Lyft? Why or why not? Are the incentives great enough? If not, what other incentive would they need to offer you?
ESPN Sues Verizon Over New FiOS TV Packages (class handout)
1. On what grounds (basis) is ESPN suing Verizon?
2. What competitive pressure led Verizon to offer its new "Custom TV" package?
3. What is Verizon's argument for why they can add ESPN to this new TV package?
4. In relation to the U.S.'s economic principles, who's side of the argument do you agree?
5. In this situation, two characteristics of U.S. economic principles are in conflict - competition and binding contracts. Which do you think is the more important characteristic of the two and why?