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Discuss the concept of competitive advantage and how important it is to a small business
Identify and describe some competitive advantages a small business can build
One dictionary defines "sustainable" as “to keep up or keep going and an action or process."
What value would a ‘sustainable competitive advantage” offer an entrepreneurial business over a competitive business model without sustainability?
Unemployment occurs even during periods when the economy is growing. An increase in demand will cause the equilibrium price and quantity to rise, ceteris paribus. An increase in wages will shift the supply curve up and to the left. GDP measures under..
An American worker and German worker can each produce one car per month. An American worker can produce two tons of grain per month, and a German worker can produce one ton of grain per mont. Calculate what the optimal trade would be for these two co..
Which of the following statements is consistent with what happened during the Great Recession? Identify whether the following statement is more likely to come from a classical economist or a Keynesian economist. “The recent decline in consumer confid..
Using the rule of 70, if a person lived to be 70 years old in a country with an average annual growth rate in real GDP per capita of 2 percent the average income during this person's lifetime would increase by approximately ( ) times.
Predict what will happen to the economy in the short run if household debt rises and at the same time the government increases subsidies to firms. Predict what will happen to the economy in the short run if there is an increase in taxes and at the sa..
A machine that has been used for one year has a salvage value of $10,000 now , which will drop by $2000 per year. The maintenance costs for the next 4 years are $1250, $1450, $1750 and $2250. Determine the marginal cost to extend service for each of ..
What are your thoughts on what the book has to say about advertising? Are ads manipulative? Or, do they also serve other purposes? Think back however many years since the first iPod was introduced to the market. Would you have known you wanted one if..
Imagine the economy starts off at the steady state, with m=v=1 and b=1/2; additionally, suppose that the Fed's infaltion target (π-bar) is 1% and that the real federal fund rates (r-bar) is 1%. In period 1, political uncertainty causes a negative AD ..
Suppose you are considering starting your own consulting firm. You estimate if that if you did not start the firm, your starting salary at a job would be $40,000/yr. The revenues from this firm are expected to be $1,500,000. Some of the expenses you ..
Under the responsibility scheme proposed by the Taiwan government, households will be charged for solid waste disposal. Is this charge justifiable from an economics point of view?
Gina has the choice of two bonds, one that pays 5 percent interest and the other that pays 10 percent interest. Which of the following is most likely?
The difference between a monopsonist and a monopolist is that. In a perfectly competitive output market, the value of the marginal product of a resource is
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