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The Asian version of Maslow’s needs hierarchy says that things like Status and Admiration are at the top of the pyramid. This is compared to self-esteem and self-actualization at the top in the “western/USA” version of the pyramid. What does this tell you about the type of products that sell best in each geographic area (East/Asia, vs. West/USA-Euro)? Why is this? Can Hofstede's dimensions be useful in analyzing this? If so, (of course they can!!), which ones, and why?
Gold maybe a better store of value than US money, but it would function as a poorer medium of exchange and unit of account than US money. Do you agree with this statement? If yes, please explain why you agree. If no, please explain why you disagre..
A dissenting opinion in this case argued that Jerry Schuster did carry on his father's business and should be liable for obligations of the continued business. Does that strike you as reasonable? Shouldn't a warranty be valid so long as the business ..
There are 10 consumers in a market, each with identical quasilinear demand equal to u(x,y) = ln(x) + y. What is the total market demand? (i.e. what is the relationship between the price and the total market demand?). What is the elasticity of demand?
You were told that a certain cash flow sequence started at $3000 in year 1 and increased by $2000 each year. How many years were required for the equivalent amount worth of sequence to be $12000 at an interest rate of 10% per year? You were told that..
Write a 1-2 page report about how the company used the marketing research process to develop this product. Be sure to discuss how each step in the process helped the company achieve their goals and objectives.
Discuss how an imperfectly competitive firm resorts to price discrimination to maximize its profits. One of the criticisms of oligopolies is the adverse impacts these firms have on income distribution. Do you believe that is a valid critism? Discuss ..
We want to determine if the training program was effective. Compute the test statistic. At 95% confidence, test the hypotheses. That is, did the training program actually increase the production rates?
Suppose that only one firm produces and sells soccer balls in the world. The following equations describe its demand, marginal revenue, total cost, and marginal cost curves: How many soccer balls does the monopolist produce? At what price are they so..
Phillip’s Curve: For each of the following draw an AD/AS diagram and a corresponding Phillip’s curve assuming the following: suppliers produce more goods and services when price increases; Again assume actual GDP is at 9,200, in both diagrams show th..
If the purchasing power of a dollar is less than the purchasing power of the euro, purchasing power parity would predict that
Looking at the last word of the chapter "squaring the economic circle", what is the central economic idea illustrated in this piece? how does he explain the idea? how does the main idea related to economic recessions, and how does this idea relate to..
Suppose that there is an exogenous unexpected decline in consumption spending by households. Use the IS-LM, AD-AS model to derive the short-run and long-run effects on i, P, and Y.
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