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#5 How might different cultures be a determinant of demand?
Certain cultures may demand more of particular goods than others as part of daily life -- like there is more of a demand for rice in Asia, and corn in Latin America. Also, climate can cause certain fabrics to be more in demand or 'necessary' than others in different regions. The idea of perfect substitutes may also vary, as in largely non-pork consuming Israel, chicken may be seen as a perfect substitute for beef, but in the United States pork, chicken, and hot dogs might be seen as a perfect substitute for beef that has increased in price.
#6 How might the method of delivery (e.g., the Internet) affect the perceived attributes of a product or service?
The Internet may cause certain consumers to subjectively...
High shipping costs might cause consumers to shy away from buying online or in catalogues. Goods bought as gifts during Christmas, because of the generosity of the holiday might be priced higher than normal because of packaging, while goods on a sale rack in a pile might seem less desirable, even if the actual goods are of the same quality. Speed of delivery at holiday 'crunch time' can also affect demand, as the ease of directly ordering a good and staying out of crowded stores might increase demand.
#7 Explain the differences between the total output of a firm and the marginal product of labor (MPL) at that firm. How are
Economics Marginal Rate of Substitution (MRS) is the rate that an individual is ready to give up from "good A" to obtain one or more unit of "good B" while keeping the overall utility constant. In other words, MRS reveals how many units of good x that an individual is ready to give up to gain extra unit of good y while keeping the same level of utility constant. The MRS
1. Explain the importance of net asset value (NAV) for mutual fund investing Net asset value (NAV) is delineated as the value of assets of a mutual fund scheme less the value of liabilities for every unit. It is the price in which an investor can purchase the unit of a scheme and also at the same time can be price at which the investor can sell the unit, less any
Macro-economic Indicators of Performance and How Recent Changes in Indicators Have Affected Performance of Organization To grow and profit despite a ruthless recession, PetSmart follows and consults certain macroeconomic indicators that regulate and direct its objectives and performance. One of these is the Consumer confidence Index (CCI) . The CCI helps PetSmart gauge spending patterns of the market and assess how the economy is growing in general and if it is predicted
QRB/501 Quantitative Reasoning Business: The intro answer questions: How convert data index? Give examples Why people index (indices) explain data? What time-series data? How time-series data index forecast inventory year? Please ALSO write a conclusion based answers You HAVE TO USE PRESENT TENSE ONLY -- I MEAN ONLY. Converting data into indexes is essential in business statistics. Raw data is of little use in and of itself. However, being able
Financial Development and Economic Growth The United States of America has made significant developments with respect to their financial market which in turn has resulted in the form of high economic growth. When we compare the U.S., which has one of the most developed financial markets, to other less developed countries, we find that the United States accumulates capital and grow at a higher rate due to markets being more stable.
Government Subsidized Student Loans Have Economic Costs but Political Benefits Higher education has become increasingly important in the contemporary world scenario today where globalization has led to a higher need for a skilled labor force that is mobile and that is well-versed in the academic disciplines followed all over the world. In fact university education is starting to be seen as a hallmark for success, even though there are college drop