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In the international marketplace, countries are categorized based on their stages of development. A marketer needs to be clear on these categories in order to determine the potential demand for its products/services.
These categories include low income, lower-middle income, upper-middle income, and high income. One can assume that if the product offering is a high ticket item, then it is likely that the countries in the high income category would be more attractive to do business with than those in the lower or even the lower-middle income category.
In this week's thread, you have to discuss the following:
Describe the stages of market development and identify how this knowledge could benefit firms that are seeking overseas expansion.
If countries are first ranked by level or real GDP per capita, and then by the value of the Human Development Index, would you expect the ranking of countries to be similar or different? What are the short-run and long-run effects on an economy of a ..
The firm increases its entire size until it makes 30,000 units a week. What would total cost be if the firm faces constant returns to scale?
If a hurricane strikes Florida, and destroys 20 thousand pounds of oranges, what will the new equilibrium price and quantity be?
What are the differences between economic and accounting concepts of cost? T or F If a firm is making economic profits, then it must also be making normal profits. How are prices determined under perfect competition?
Suppose nuclear power plants are banned in the U. S. What are the opportunity costs of this decision?
Use the midpoint method to Compute your cost elasticity of demand as the cost of DVD's
Make a list of businesses that provide goods and services that you or your family members use in a typical week.
Explain briefly the various parts of the circular flow diagram representing the interactions between households and firms in a simple economy.
Elucidate how might this allocation under allocation get resolved via the means suggested by the coase theorem.
The demand curve for haircuts at Terry Bernard's Hair Design is: Where Q is the number of cuts per week and P is the price of a haircut. Terry is considering raising her price above the current price of $15. Terry is unwilling to raise price if the p..
How do you feel the study of Managerial Economics will benefit you as a business and household decision-maker?
For each of Marshall’s four rules of derived labor demand, come up with one example of an industry or job that you would expect to have especially elastic or inelastic labor demand based on that particular rule.
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