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BUS-028A-70066 Business Law |
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Your Comments are due 9/22
Comments on your follow classmate's postings
9/24
Large damages awards in tort litigation have
to be paid by someone. If the defendant is
insured, then insurance companies foot the
bill. Ultimately, though, high insurance rates
are passed on to consumers of goods and
services in the United States. Consequently,
tort reform that reduces the size and number
of damages awards ultimately will mean lower
costs of goods and services to consumers.
The downside of these lower costs, though,
might be higher risks of medical malpractice
and dangerous products. Do you believe that
this trade-off is real? Why or why not?
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Running head: TORT LAW
1
Tort law
Student’s name
Institution
TORT LAW
2
When the defendant is insured in large damage awards, the insurance company ends up
settling the bill as covered. Insurance comp...
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Cornell University
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Transportation buyers must understand the costs of moving goods and the basis by which transportation service providers establish prices.Analyzing these costs and prices is a dynamic, complex effort. For every combination of origin, destination, product, and service requirements, the financial details change. Organizations supply chain logistics leaders must understand the costs related to their specific shipments and negotiate effective prices that allow their products to compete in the marketplace. In contrast, the transportation company wants to be properly compensated for its services. The supply chain logistics leadership in an organization must be astute and work with their team to figure out ow to achieve a balance between these seemingly incongruent goals.Many carrier pricing decisions are based on some reaction to a stimulus from the business environment. 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Transportation had been economically regulated by the federal government for well over 100 years because of potentially monopolistic abuses. Part of this regulation dealt with carrier prices in the forms of how they are constructed and how they are quoted. In some respects, these government agencies help mitigate the imperfections in the marketplace to control carrier pricing. As such, governmental controls affect how carriers price their services (Notteboom, 2015).Competition and Price SettingIn the case of carriers, other channel members can include other carriers in the same mode and in different modes. For example, interline movements between different carriers that involve revenue splits will certainly impact how each carrier prices its services. If one carrier decides to raise its price, the other carrier either has to reduce its price or risk losing business, given that the market has a high price elasticity. Competitors will impact carrier-pricing strategies. History has shown that even in transportation oligopolies (such as airlines and LTL motor carriers), price leaders that offer discounts to customers will find that competitors will match those discounts, even at the risk of reducing industry profits. This could be a symptom of the continual pressure on carrier customers to reduce transportation costs in their firms. Across-the-hoard price increases are also usually matched by all the major competitors in a particular mode. However, occasions do occur when competitors do not follow price leader actions. Carriers then must respond to changes and directions from their operating environment. Sometimes these changes might not favor the carriers, such as when government regulations force carriers to make a change that reduces efficiency. 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Three major components, related to transactions, shipments and the friction of distance, impact on transport costs (Rodrigue, 2015).Transport costs have significant impacts on the structure of economic activities as well as on international trade. Empirical evidence underlines that raising transport costs by 10% reduces trade volumes by more than 20% and that the general quality of transport infrastructure can account for half of the variation in transport costs. In a competitive environment where transportation is a service that can be bidded on, transport costs are influenced by the respective rates of transport companies, the portion of the transport costs charged to users.Transportation offers a spectrum of costs and level of services, which results in substantial differences across the world. 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From a recent (within 5 years) peer-reviewed journal, find an article in your area of interest that utilized the qualitati ...
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