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ECON649/991, The King According to William Pitts Quote

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Economics (ECON649/991)

   

Added on  2020-02-18

ECON649/991, The King According to William Pitts Quote

   

Economics (ECON649/991)

   Added on 2020-02-18

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Private property has the owner as the king according to William Pitt's quote. A man is the general dictator and shield of his property. The is no other superior authority allowed to interfere with an individual's private property without permission from the owner (the king) or any other emergency reason.The implications of the quote is a reality in my country as property owners have the right to privacy encompassing conducting a search on their property, seizing an individual’s property, revealing a citizen's private matter and infringing their communication privacy.Pirates deploy pirate ships to attack regular ships with one of the main objectives of stealing items, harming and kidnapping. The attack is conducted for self-gain. They function contrary to any government's dictates and often bout at the harbors, ports and other places. They do not satisfy to be a company however large they are as firms must follow the laws as dictated by governments to operate legally.a.b.Technology b is dominant as it requires minimum manpower to finish the work in a shorter time length. Assembly line adoption was quick to cut expenditure on worker's wage.Technology BTechnologyNumber of WorkersTechnology A
ECON649/991, The King According to William Pitts Quote_1
c.Technology ATechnology Bd.It is clear, in as much as the new technology is more productive, it is more costly and may negatively affect the economic rent due to the employers due to the increase in wages of skilled workers. It may therefore require the firms to look for a more capital intensive form of production.2. SupplyPriceDemand
ECON649/991, The King According to William Pitts Quote_2

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