Economic Brief: Pharmacies And Drug Stores Principals Of Economics Research Paper

816 words - 4 pages

Economic Brief
Title
By Your Name
ECO100
Professor’s Name
Date
Economic Brief
Title
Generous variety has been seen in the utilization of professionally prescribed medications from retail drug stores, the level of administrations given by retail drug stores, and the costs paid for solutions from retail drug stores. It isn't evident whether neighborhood drug store market structures influence these drug store results. The objective of this paper is to give a brief on how the retail industry and the subsector Pharmacies and Drug Stores are ran. It will cover 1) Goods and services the industry provides. 2) The industry's market structure and characteristics. 3) Microeconomics relationships, market outcomes, and/or trends. Lastly, 4) The paper will cover how the government involvement may affect this industry.
Industry Goods and Services
The industry that was selected was the Retail industry and the subsector is Pharmacies and drugstores. Retail was my choice of interest because the retailing industry is everywhere, and it had been around for centuries. Products begin from being made by a producer and they are then sold by retailers. Retailers are the distributers of good and services and that is the service they provide. “The Pharmacies and Drug Stores industry is comprising operators that retail a range of prescription and over-the-counter medications, health and beauty items, toiletries and consumable goods directly to consumers on a walk-in basis.” (Pharmacies & Drug Stores, 2018) The provide the service of filling prescriptions, as well as some small clinical things like giving flu shots and vaccines. Also, they provide goods other than prescriptions to customers when they visit.
Market Structure and Characteristics
​ “Retail market structure refers to the number of companies that sell similar or identical products in the same geographical area.” (Hamilton, 2017) An oligopoly portrays a little gathering of organizations that plot to raise costs on items in view of abundant request. Pharmacies and Drugs Stores are a part of an oligopoly because they have a few sellers. Although, they are not in charge of the price and quantity. Think of the first Pharmacies and Drug Stores that come to mind; CVS, Walgreens and Rite Aid which is shortly going out of business. The number of competitors is low, and the differentiation is in the mid-range. There are different market characteristics that support the oligopoly market structure. Oligopolies are normally described by shared reliance where different choices, for example, yield, value, promoting, et cetera. They also rely upon the choices of alternate firms. Oligopolies also work together collectively to earn higher income by branding together.
Microeconomic Relationships, Market Outcomes, and/or Trends
The market outcome for Pharmacies and drugstores has gradually increased over...

Other Essays On Economic Brief: Pharmacies and Drug Stores - Principals of Economics - Research paper

Benefits and Costs of Economic Growth - Economics class - Essay

862 words - 4 pages Benefits and Costs of Economic Growth Justin Yan "Explain the benefits and costs of economic growth" Economic growth is the increase in ability of an economy to produce goods and services to fulfil the needs and wants of the consumers, essentially it is the long-run increase in a country’s productive capacity. Economic growth can also be defined as an increase in the real value of goods and services produced in the economy which is measured

sociology brief research paper outline - ualr - research

713 words - 3 pages Ryan Lacey June 3, 2018 Mass Media Communication Outline of Theory Research A. 1. There are primarily two approaches to research in mass communication, which is Social Scientific and Cultural Studies 2. The idea that media have a significant impact on society has fueled the development of the two types of research in mass communication. Social scientific research attempts to understand, explain, and predict the impact of mass media on

economic intervention and armed conflict - E&D - Research paper

3269 words - 14 pages The Economics of War: how economic intervention sows the seed for armed conflicts “The culture of death is imposed by economic and political interests, the arrogance of power, corruption. I blame the first world for having taken our riches for so many years. I am speaking of the superpowers that dominate the life of the world. More concretely, the World Bank, the IMF. Those that have caused and tolerated the death of our people, those

How the Drug War Failed and How It Can Be Improved - Credo High School/English - Research Paper - Research Paper

5581 words - 23 pages Luther Gennert  Gennert 1  Ms. Bliquez  Research Paper 10A  3 October 2017  The Failure of the Drug War and A Better Solution  “America's public enemy number one in the United States is drug abuse. In order  to fight and defeat this enemy, it is necessary to wage a new, all-out offensive:” With  those words, Nixon started the War on Drugs. According to the government, the  purpose of the drug war was to eliminate all drug use, creating a perfect

Explain the types of economic systems and what they do - Economics - Essay

998 words - 4 pages Economic systems Everyday of the year, people across our country and every other country around the world make decisions as buyers and seekers, workers and business owners. All of their collective decisions makeup a nation’s economic system. Around the world, there are a variety of economic systems some of which are Command Systems, Market Systems , and Traditional System. A traditional economy is a system that replies on customs, time honored

Midterm Paper Drug & HumanBehavior - Vincennes and Drug and - assignment

2287 words - 10 pages MIDTERM PAPER 1 Midterm Paper Jaeda Manuel Drugs, Society, and Human Behavior 11 March 2018 Patterns of use of substance abuse that you have seen in your life My grandfather (moms dad) consumed alcohol throughout his whole life beginning when he was just a teenager and worsened as he aged and continues to worsen as he grows older. He was enlisted into war at a young age but had no choice on going because during that time they were signing

This Research Paper Is On The History Of The European Union And The Various Aspects And Functions Regarding It, As Well As Its Potential Impact And Influental Power On Global Economics

1944 words - 8 pages an economic powerhouse. I believe the growing European Union will have a much larger impact on international trade and will represent a formidable competitor to the United States in future years.Table of Contents§Introduction§The EU's Mission§Institutions of the EU§The Euro§The EU: A Superpower in the MakingTo gain some historical perspective, one should note that Winston Churchill fostered the idea of the European Union

The Luxembourg Economic conditions - International Studies - Research Paper

2209 words - 9 pages one of the largest surpluses on the current account in the euro area as a percentage of GDP ("Luxembourg Country Profile", 2017), and has a strong fiscal position, the lowest national debt in the region. COUNTRY CLASSIFICATION…… Banking is the largest sector of the Luxembourg economy (OECD,2017). In the 2017 World Economic Centre Index, Luxembourg ranks 18th in the world and is the third place in Europe after London and Zurich. The state

Biography and Important Cases of Sonia Sotomayor - Research Paper on Important Figure - Research Paper

2163 words - 9 pages Sonia Sotomayor Research Paper Right now, in Washington D.C., there is an amazing woman that everyone should know about. She is striving for a better, more just America for everyone. She is the epitome of the American dream. Her name is Sonia Sotomayor. She has an inspiring life story, and the impact on the world through her work is indisputable. Throughout her entire life she has shown incredible independence and perseverance. She has gone to

The Effect of Vitamin D on Psychosis and Schizophrenia - Genesee Community College Psych 101 - 5 Page Research Brief

645 words - 3 pages Abstract: A brief analysis of two papers regarding the effects of vitamin D on schizophrenia patients. For the purposes of this brief, I will compare a popular paper, “The Effect of Vitamin D on Psychosis and Schizophrenia” (Greenblatt, 2016) with a scholarly paper, “The Relationship between Symptom Severity and Low Vitamin D Levels in Patients with Schizophrenia” (Bulut et al., 2016), not reporting on them. Keywords: Vitamin D, schizophrenia

Economics, Manhood, Sex, and War - HUIS 501 - Research Essay

4790 words - 20 pages it was a chivalrous act of southern decency. Many academic questions asked for such a heinous act have intrigued historians. The economic oppression after the end of the Civil War and Reconstruction is a common theme found in scholarly research on the topic of lynching. The oppression of an uncultured and uncivilized race that was not worthy of equal treatment in America was evident. However, this was more of a political push by the Ku Klux Klan

Similar Papers

The Economics Of Adam Smith, Keynes, And Economic Thought Research Paper

4165 words - 17 pages Hanhan !1 Alex Hanhan Professor Rasmus Econ 102 7 May 2018 Final Research Paper Supply side economics is a rather broad topic. We see the opening scene of Farris Beuhlers Day Off, where the students are falling asleep as the economics professor is lecturing on Supply side economics. Supply side is basically the application of using price theory in certain dilemmas that concern economic aggregates. The most noticeable factor when the supply side

Karl Marx And Marxist Economics Grade 11 Economics Research Paper

948 words - 4 pages cheap labor as well as the need for more natural resources are constantly going to need to be tended too. Marx believed that wages would be held down by a "reserve army of labor," which he explained simply using classical economic techniques: Capitalists want to pay as little as possible for labor and which is easiest to do when there are too many workers looking for jobs. That is why after a recession, using a Marxist analysis we would predict

Brief History And Description Of Psychoanalysis College And Career Writing Research Paper

1280 words - 6 pages 6 PSYCHOANALYSIS Psychoanalysis Andrew Ellerbee Pius X High School The human psyche is one of the most complex yet fragile system found in nature. It constantly stores information in both the conscious and subconscious mind, forming the mental prowess and personality of every person on the planet. To try and understand this complex feature of the mind Psychiatrists have created the treatment/theory of psychoanalysis. Psychoanalysis allows

The Economics Of University Accessibility Ap Seminar Research Paper

1380 words - 6 pages . “These programs are key tools for unleashing the creative power of our most THE ECONOMIC FACTORS OF UNIVERSITY ACCESSIBILITY 5 innovative students and researchers,” said Dr. Suzanne Fortier, President of the Natural Sciences and Engineering Research Council of Canada. With the help of the federal government, more students have been able to attend university. This relates back to our main question by resolving the issue of economic burdens when it