ECON649/991, The King According to William Pitts Quote

Added on - 18 Feb 2020

  • ECON649/991

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Private property has the owner as the king according to William Pitt's quote. A man is thegeneral dictator and shield of his property. The is no other superior authority allowed to interferewith an individual's private property without permission from the owner (the king) or any otheremergency reason.The implications of the quote is a reality in my country as property owners have the right toprivacy 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 stealingitems, harming and kidnapping. The attack is conducted for self-gain. They function contrary toany government's dictates and often bout at the harbors, ports and other places. They do notsatisfy to be a company however large they are as firms must follow the laws as dictated bygovernments to operate legally.a.b.Technology b is dominant as it requires minimum manpower to finish the work in ashorter time length. Assembly line adoption was quick to cut expenditure on worker'swage.Technology BTechnologyNumber of WorkersTechnology A
c.Technology ATechnology Bd.It is clear, in as much as the new technology is more productive, it is more costly andmay negatively affect the economic rent due to the employers due to the increase inwages of skilled workers. It may therefore require the firms to look for a more capitalintensive form of production.2.SupplyPriceDemand
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