1- DO YOU AGREE WITH THIS SCENARIO?

A) Price fixing is when firms come together and agree to set the same prices, discounts, shipping terms, or production amounts (Amadeo, 2021). I don't think that it necessarily always means they are engaged in price collusion because something like gas for example would change in price due to the same market conditions in that area (Amadeo, 2021). Price fixing is illegal because it goes against the law of supply and demand and is unethical (Amadeo, 2021). Price fixing most often happens in free market because there is little to no government control on pricing, its controlled by supply and demand (CFI, 2022), (K., 2022). I think it went on for so long because it's not possible to prove if companies are doing this unless there is evidence that they have been communicating (Amadeo, 2021). There are different methods of "price fixing" that don't involve prices, such as the production outputs, or discounts so I think that makes it hard to really pinpoint.

B) I live in a small town so there are many examples of monopoly power here. For example, in my community there is one marijuana dispensary. There is more in the next community, but you would have to travel to get there. It would be difficult for anyone else to open a dispensary in my community because it's too small. This has been proved because we used to have two dispensaries, but the second one had to close. It couldn't compete with the bigger dispensary that was in an ideal location on the busy highway. This is considered Geographical Monopoly (Smarter, n.d.). I think it is charging fair prices because even though there are no other stores in this community, it does still have some competition if someone were to travel into town. They often have deals on certain days of the week, and they are located beside a local pizza store, and busy gas station.

2- The current markets have been very volatile and challenging to predict. Read this article:

https://www.marketwatch.com/story/warren-buffetts-advice-for-a-volatile-market-patience-pays-11643223497?siteid=yhoof2

Are you someone who wants instant gratification or are patient? Which is the better approach in the business world? How about in the stock market?

Discuss one of your best accomplishments since the start of the year.

3- DO YOU AGREE WITH THIS SCENARIO?

Over the years, I suggest that I have gotten better with age and improved my methods of delayed gratification. Developing this skill has a multi layered effect, it can improve your achievements both personally and professionally. "When you're able to sacrifice your current pleasure and work towards your goals, you can build up success over longer periods of time"("Delayed gratification can change the way you live and work," 2021).

Over the last year, my best accomplishment is dedicating my time and money into my education to better myself and hopefully provide opportunities to further my career.