User Account

All Pages

How would you adjust your behavior in the short term

Assignment Help Management Theories
Reference no: EM132204147

Assignment: Price changes can have a significant impact on the overall economy of a nation. A product experiencing price change can lead to an exponential change in the prices of related products. The price of oil provides a good example of this concept. As oil prices increase, the price of gasoline also increases. As almost all products rely on gasoline, either in the production process or in the distribution process, the prices of these products also increase. As prices increase and incomes of consumers remain steady, spending decreases and products or services that have an elastic demand suffer. This assignment looks at some products you may be familiar with and allows you to analyze how price changes impact the overall economy.

Tasks: Consider the last product or service you purchased for more than $50, excluding gasoline.

  • If the price of that product or service went up by 10% overnight, how would you adjust your behavior in the short term?
  • How would you adjust your behavior in the long term?
  • If you decide not to buy this product again, what will you buy instead?
  • Analyze who will be more sensitive to price changes in what kind of products.

Reference no: EM132204147

Questions Cloud

Analysis of the missed opportunities for innovation : Analysis of the missed opportunities for innovation which have negatively impacted the organization. A process for creative problem solving
What steps should a company take to minimize the risk : What organizational changes have companies made in the last five years? What steps should a company take to minimize risk of resistance to change by employees
Analyse the performance and reliability of machines : 701475 Equipment Engineering and Design - Analyse the performance and reliability of machines - Design systems for maintenance, reliability and good performance
What is the number of people not working : a) What is the number of people not working who are currently seeking employment?
How would you adjust your behavior in the short term : If the price of that product or service went up by 10% overnight, how would you adjust your behavior in the short term
What are the three legal forms of business organization : What are the three legal forms of business organization? Which form of organization is dominant in the terms of total profits and why?
Law of diminishing marginal utility : An important law in economics is the "Law of Diminishing Marginal Utility." what this law is, and provide an example of diminishing marginal utility
Escalating costs or diluting quality or timeliness : If you were a political leader, what one thing would you change in the healthcare system to optimize access of health services to the maximum number of American
Describe a situation where you change recipient : Describe a situation where you were either a change recipient or a change leader and a poor choice was made for at least one of these two decisions

Reviews

Write a Review

Management Theories Questions & Answers

  Learning in action

Learning contract proposal that will form the basis of your learning contract report.

  Change is the only constant

"Change is the only constant " Evaluate the different types of change that have occurred in Sony.

  How do advertisers try to use group influence

How do advertisers try to use group influence?  Will you find any specific examples and explain the relevant theory of group behavior and influence?

  Case study:saving sony

You have been appointed by Sony as a consultant on change management. Advise Sony on how they could implement the change by using the various theories of change you have learnt.

  How the stock market works

The purpose of this project is to help you to gain an understanding of how the stock market works and of the relationship between theory and practice.

  Find the optimal production quantities

Find not only the optimal production quantities, but also the optimal total cost.

  Describe the management process

Describe the management process and identify the skills required to manage business organizations.

  Case study : bert''s bonsai and aquatic sport museum

Case Study : Bert's Bonsai and Aquatic Sport Museum Prepare a knowledge management system.

  Knowledge management techniques

Demonstrate understanding of the many-sided nature of knowledge management

  Theory of transtheoretical model

Demonstrate understanding of the many-sided nature of knowledge management

  Write a paper on historical trends of management

Write a paper on Historical Trends of Management.

  Theory of reasoned action

Theory of Planned Behavior and Integrated Behaviors Model

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd