I only need 250 words One goal of business is to redirect resources from lower-valued uses into higher-valued uses. Sometimes these opportunities arise as a result of inefficient regulations. One example of this is in the taxicab business where ride-sharing companies like Uber and Lyft turned the inefficiency into opportunity. This prompt involves two (2) parts: Firstly, describe and reflect upon the cause of the inefficiency in the taxicab market. What features of the taxicabs business created opportunity for ride-sharing companies? Explain. Secondly, what other inefficient government policies create opportunities that businesses could exploit to create wealth? Explain. You may think of your own or look to recent current events for inspiration.
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