Monopolistic Competition Market Power Firms in monopolistic competition or imperfectly competitive markets are more likely to have limited market power because there are many firms with differentiated products (there are substitutes) and there is relative ease of entry and exit into the market Market Power among Sellers · Monopolistic competition - a market with a large number of sellers and relatively free entry; each firm "differentiates" its product. · Oligopoly - a market characterized by significant barriers to entry and "a few "sellers who recognize their interdependence in the market; products may be homogeneous or differentiated. Monopolistic Competition · Large number of sellers · relative ease of exit / entry · products are differentiated
Pure Competition Competition The word "competition" may be used in two ways: rivalry (synonym; opposition, antagonism) structural competition or "pure competition" The main characteristics of competition: 1. Number of firms 2. Type of product 3. Control over price 4. Conditions of entry 5. Nonprice competition 6. Information flow Pure Competition · Involves very large numbers of sellers and buyers. · Firms producing identical or homogeneous products. · Standardized product (a product identical to that of other producers). (ex. corn or cucumbers). · Free Entry and Exit: no significant legal, technological, financial, or other obstacles
The costs of production Production Decisions about production require individual agents to make decisions about the allocation and use of physical inputs. · Objectives of agents, technology, availability and quality of inputs determine the nature of these decisions. Since the objectives are often pecuniary, it is often necessary to relate the decisions about the physical units of inputs and outputs to the costs of production. · If the prices of the inputs and the production relationships are known (or understood), it is possible to calculate or estimate all the cost relationships for each level of output. In practice
Running head: DE BEERS MONOPOLY De Beers Monopoly Microeconomics Diamonds an extremely hard, highly refractive crystalline form of carbon that is usually colourless and well know as "girl's best friends", but the story of how diamonds got so famous and how they have remained so rare is down to a company named DeBeers. This paper is about DeBeers, the most powerful diamond company in the world. Monopoly main characteristics were that firm is single seller of the product without any close substitutes. Nowadays DeBeers have many substitutes and that is the reason why they are not a pure monopoly, but they are definitely nearly one. This is because the firm still has the bulk of world sales and controls 45% of world diamonds market. This paper examines these monopoly characterises, also how and why DeBeers diamonds monopoly still exists and what benefits they give the world
Kapital Capital Капитал Ettevõtlikkus Enterpreneurial ability, Talent Предпринимательская способность Tarbekaup, -hüvis Consumer Goods Потребительское благо Kapitalikaup, -hüvis Capital Goods Капитальное благо Alternatiivkulu, AK Opportunity costs Альтернативные затраты Kasvavate AK seadus Law of increasing opportunity costs Закон растущих альтернативных затрат Võimaliku tootmise piir Production Possibilities Frontier, Граница(кривая) производственных Curve, PPC, PPF возможностей, КПВ
MARKET Market system is an interrelated set of markets for goods, services and inputs. A market is defined as the interaction of all potential buyers and sellers of a good or class of goods that are close substitutes. · The markets provide information to agents that may be used to identify and evaluate alternative choices that might be used to achieve objectives. · Each agent acting in a market has incentives to react to the information provided. · Given the information and incentives, agents within markets can adjust to changes. The process of market adjustment can be visualized as changes in demand and/or supply. · Markets include all potential buyers and sellers geographic boundaries of market markets defined by nature of product and characteristics of buyers conditions of entry into market
performs the functions of procurement of materials, transformation of these materials into intermediate and finished products, and the distribution of these finished products to customers. Supply chains exist in both service and manufacturing organizations, although the complexity of the chain may vary greatly from industry to industry and firm to firm. Supply chain management is typically viewed to lie between fully vertically integrated firms, where the entire material flow is owned by a single firm and those where each channel member operates independently. Therefore coordination between the various players in the chain is key in its effective management. Cooper and Ellram [1993] compare supply chain management to a well-balanced and well-practiced relay team. Such a team is more competitive when each player knows how to be positioned for the hand-off. The relationships are the strongest between players who directly pass the
” (Rogers 1952) ● CIS survey: “Product innovations must be new to your enterprise, but they do not need to be new to your market”. ● “Companies achieve competitive advantage through acts of innovation. They approach innovation in its broadest sense, including both new technologies and new ways of doing things” – (Porter 1990) ● “An innovative business is one which lives and breathes “outside the box”. It is not just good ideas, it is a combination of good ideas, motivated staff and an instinctive understanding of what your customer wants” – (Branson 1998) ● “...novel implementation of an invention, discovery, new or existing knowledge in economic process” (Joseph A. Schumpeter) ● An innovation is the implementation of a new or significantly improved product (good or service), or process, a new marketing method, or a new organisational
BARRIERS TO DISTRICT HEATING DEVELOPMENT IN SOME EUROPEAN COUNTRIES Abstract District heating (DH) offers low primary energy demand, high security of supply and small CO 2 emissions. Barriers to DH in the UK, Ireland, France, Romania and the Czech Republic have been compiled through publications and interviews. DH systems require large investments, have negative initial cash flow and long payback time, which obstructs financing. One actor should control DH from source to consumption. If the value chain is fragmented, contracts are required between the links. It increases risks and
EU Internal Market Group Work I: History and Purpose of the Internal Market Please connect terms (numbers) with correct description (letter), for example 17 M 1 Common Market A ... is characterized by free movement of goods between the participating countries, but autonomous external trade policies in relation to non-participants. 2 Comparative B A top-down approach to integration that can be best
Good afternoon! My name is … I will be speaking today for 10 minutes about market and marketing. At first I am going to talk about meaning of market and I must define what is market in modern marketing context. The common usage of market means a place where goods are bought or sold. A market need not necessarily mean a place of exchange. The word market is commonly used and may even mean or aim in any of the following: Market may mean a place where buying and selling take place Buyers and sellers come together for transaction An organization through which exchange of goods takes place The act of buying and selling of goods (to satisfy human wants) An area of operation of commercial demand for commodities In addition, I have to define what is marketing. Marketing is a human activity to satisfy needs and wants, through an exchange process
...................................................................................... 19 1.2. The Business Environment ........................................................................................ 23 1.3. Banking system.......................................................................................................... 27 1.4. Starting a business in Ukraine ................................................................................... 32 1.5. Market entry strategies .............................................................................................. 33 1.5.1. Direct Sales ........................................................................................................ 33 1.5.2. Agency and Commission arrangements ............................................................. 34 1.5.3. Joint venture with a Ukrainian partner.............................................................. 34 1.5.4
.......................... 2 1.2. Potential future utilization..............................................................................4 1.3. Why Don't We Use More Renewable Energy? ...........................................5 2. Energy Types 2.1. Wind Energy.......................................................................................................6 2.1.1. Annual Generation........................................................................................7 2.1.2. Growth and cost trends................................................................................8 2.1.3. Theoretical potential.....................................................................................9 2.1.4. Benefits of wind energy................................................................................10 2.2. Solar Energy........................................................................................................11 2.2.1 Development, deployment and economics.................
external opportunities and internal strengths while working around external and internal weaknesses- • Strategy = opportunity / capacity • Opportunity has no real value unless a company has the capacity to take advantage of that opportunity SFAS summarizes an organization’s strategic factors by combining the external factors from the EFAS. Table with the internal factors from the IFAS Table. Strategic window- a unique market opportunity that is available for a particular time. TOWS Matrix- illustrates how the external opportunities and threats can be matched with internal strengths and weaknesses to result in 4 possible strategic alternatives • Provides a means to brainstorm alternative strategies • Forces managers to create various kinds of growth and retrenchment strategies • Used to generate corporate as well as business strategies
· Google delivered search results people really wanted- trustworthy for users. The promised not to sell placement in search results to advertisers and instead rely on the true natural search to deliver users the content they really are looking for. · Effectively monetizing paid search-made Google economically successful as a business. They adopted a "cost per impression" in 1999 and then in 2002 they adopted " cost per click" paid listing model that was popularized by Overture by doing a ratio of actual CPC("cost-per-click") and expected CTR("click trough rate") to ensure users saw ads that were closer to what they actually searching for. Google Analytics is a good example of how advertisers could track advertising keywords were most likely to yield sale. 2. What were the reasons for being a last-mover and what were the advantages?
Cost Accounting. Chapter 1 Management accounting measures, analyzes, and reports financial and no financial information that helps managers make decisions to fulfill the goals of an organization. Financial accounting focuses on reporting to external parties such as investors, government agencies, banks and suppliers. It measures and records business transactions and provides financial statements that are based on GAAP. Cost accounting measures, analyzes, and reports financial and no financial information relating to cost of acquiring or using resources in an organization. Value-chain analysis: sequence of business functions in which customer usefulness is added to products and services. 1. Research and development 2. Design of products, services, or processes 3. Production 4. Marketing 5. Distribution 6. Customer service.
..................summeerimismeetod 28. Adjustment .......................................................kohandamine, kohandumine 29. Advertaisment - ..................................................kuulutus, reklaam 30. Advertising hype ..............................................jõuline reklaamimine 31. Advertising's public nature ..............................reklaami avalik loomus 32. Affliction ..........................................................kannatus 33. Aggregate demand ...........................................kogunõudlus 34. Aggregate supply .............................................kogupakkumine 35. Allied [öllaid] ..................................................ühinenud 36. Allocative [allocätaiv] efficiency ....................ressursijaotuslik efektiivsus 37. Alternative [oltörnative] goods ........................alternatiivkaubad 38. An ability to cope with something - ...................võime hakkama saada millegagi 39
Indroduction This assignment will examine Britain's car market and shows how the external and internal environment factors influences it, mostly on Mini Ltd. External marketing environment is divided into 4 different groups; socio-cultural, economic, technological and political factors. Internal marketing evironment is divided into 6 different groups; which are customers, competitors, suppliers, distributors, employees and stakeholders. Also this assignment is provided with the SWOT analysis, where strengths, weaknesses, opportunities and threats are
relying on volunteer donations, using taxes and, in some countries, conscription instead. In the case of defense spending, alternative perspectives of the free rider problem also exist. A free rider may be an individual or group of military contractors, ideologues, government officials or lobbyists that inflate the risk of enemies, or even convinces the state to launch an unnecessary and expensive war, in order to sell more arms and consolidate their power. In this example, the free riders avoid all of the personal risks of war while enjoying the benefit of tax dollars spent under the false popular perception of the urgent need for national defense. Government is indeed the primary mechanism by which societies address free rider problems. In addition to fiscal measures noted above, regulation is another form of collective action taken by governments to resolve free riders problems such as environmental degradation or excessive resource use.
1. Can the PB&R company successfully claim any violation of the EU law related rights? Examination 1. Can we say that an animal (a dog) is a good? – Yes. According to Article 13 TFEU dogs do belong to a “goods” category so as it is described in CJEU case law that a good is a product which can be valued in money and which is capable of forming the subject of commercial transactions. Therefore PB&R company and its business is selling dogs, or shall I say goods not just on a local fields, but the movement of goods is linked to abroad EU countries by making a profit of it I shall conclude that it involves a “movement of goods within the EU Member States” (Articles 26 and 37). 2. Is there a restriction of trade in goods?
Käsundajateooria (stewardship theory) (Davis, Schoorman, & Donaldson (1997). Sidusgruppide teooria (stakeholder theory) (Freeman, 1984). Käsutusõiguste teooria (property rights theory) (Demsetz, 1967). Sotsiaalvõrgustike teooria (social network theory) (Granovetter, 1973). Strateegilised organisatsiooni tüübid (Miles and Snow (1978)): Defenders focus on improving efficiency Prospectors focus on product innovation and market opportunities Analysers focus on at least two different product market areas Reactors lack a consistent strategy-structure-culture relationship Useful forecasting techniques: Extrapolation Brainstorming Expert opinion Industry scenario Delphy technique Statistical modelling Prediction markets Cross impact analysis RECOURCE-BASED VIEW: Concerned with identifying and developing an organizations resources and competencies: Struktuur
2. The scale of biofuels production 2.1. Drivers of biofuels production Lal (2010) stated that "three inter-connected challenges face humankind in the 21st century": food security, climate change, and energy security. The world population is projected to reach 9 billion in 2050, posing more demands on energy, food, and other natural resources. It has been estimated that the world food production needs to double and meat production increase by 85% by 2050 to fulfill projected demand by population (Karp, 2011). In the recent decades, the food consumption in the most populous counties has shifted from grain-based diets to meat and dairy diets. Meat production requires times more biomass in the form of animal feed and that puts further pressures on natural resources. As food production is very energy intensive, it is closely linked to global energy consumption. Global fuel consumption
began exporting fully prepared meals to the U.S Services already account for 20% of Word trade.and they are growing gaster than trade in manufactured goods. Now. Who has most globalized Economy? In this book are mentioned that by Foreign Policy Magazine and Managment consultant A.T Kearney is most globalized economy in Ireland . The International investment in flows and outflows , the involvment of goverment in International organizations the volum of communication between sitizens and firms and the rest of the world and International flows of technology. Irland-s standing high is due, in part, to its rapid integration into the European Union wich greatly expended its International trade and investment flows. Everybody dosnt like globalization. They fear it. Because it causes change and change can cause Hardship. U.S Domestic production consumed at home 82% and Exports 18%. A chapter about the open economy, there I found out whats happening in tuna Fish . It means
have overlooked the fact that some features in public management reform, state organization, and the economic interpretation of state functions that they advocate from "Good Governance" to "efficiency" as a goal in itself actually belong into the "other camp" and by and large have a disastrous effect on "industrial" and "developing" countries alike, although the consequences for the latter are much more severe. NPM is the transfer of business and market principles and management techniques from the private into the public sector, symbiotic with and based on a neo-liberal understanding of state and economy. The goal, therefore, is a slim, reduced, minimal state in which any public activity is decreased and, if at all, exercised according to business principles of efficiency. NPM is based on the understanding that all human behavior is always motivated by self-interest and, specifically, profit maximization.
· those who are either working or are actively looking for a job. In comparison with the total population, it leaves out - young people who are not yet working, - the old who are retired, - and those who do not wish to work--or have given up hope of working. Inflation refers to the rate of change of the average level of prices. Keynesian revolution explains why the study of macroeconomics is so intertwined with policy and politics. - Two traditional demand management instruments are fiscal and monetary policy. Fiscal policy manipulates government expenditures or taxes in an attempt to affect the volume of national spending. Monetary policy is directed at influencing interest and exchange rates, and more generally conditions in financial markets; this in turn affects spending on goods and services. Key Concepts · Macroeconomics gross domestic product (GDP) · trend · economic growth
.......................................................................................................................3 Keys to Success...................................................................................................................4 COMPANY DESCRIPTION................................................................................................. 4 PRODUCT AND SERVICE ..................................................................................................4 TARGET MARKET ..............................................................................................................5 Main competitor..................................................................................................................5 MARKETING AND SALES PLAN .....................................................................................5 Marketing strategy .............................................................................................................5
Alkanes with more than 16 carbon atoms can be refined into fuel oil and lubricating oil. At the heavier end of the range, paraffin wax is an alkane with approximately 25 carbon atoms, while asphalt has 35 and up, although these are usually cracked by modern refineries into more valuable products. The shortest molecules, those with four or fewer carbon atoms, are in a gaseous state at room temperature. They are the petroleum gases. Depending on demand and the cost of recovery, these gases are either flared off, sold as liquified petroleum gas under pressure, or used to power the refinery's own burners. During the winter, butane (C4H10), is blended into the petrol pool at high rates, because its high vapor pressure assists with cold starts. Liquified under pressure slightly above atmospheric, it is best known for powering cigarette lighters, but it is also a main fuel source for many developing countries. Propane can be liquified under modest
dishes include pesto with smoked salmon, pancetta and peas linguini in an special sauce, and fresh mussels and clams in a marinara sauce. Toscana also serves distinct salads, desserts, and beverages. Toscana Gourmet will reinvent the Italian food experience for individuals, families, and take out customers with discretionary income by selling high quality, innovative products at a reasonable price, designing tasteful, convenient locations, and providing excellent customer service. The basic market need is to offer individuals, families, and take out customers' fresh, creative, attractive, pasta and risotto dishes, salads and desserts. Toscana uses homemade pasta, fresh vegetables, and premium meats and cheeses. Toscana Gourmet possesses good information about the market and knows a great deal about the needs of our most loyal customers. Toscana's management is both focused on repeat business as well as gaining new customers, who can then become part of Toscana's loyal customer family.
training part-time. One question I ask people is, 'What will happen if you don't do it?' The answer inevitably is that they will wish they had." There are plenty of organisations able to help people embark on their journey of career change. SMP Solutions is among them. Steve Preston, the director, says that while some people opt for one-to-one advice and support, others benefit from group workshops. "People are not very good at talking about themselves in a positive way and what happens in a group dynamic is that people point out others' strengths and potential ideas for careers. It works well." Emma White, a personal development coach, believes it's important that people understand the breadth of careers out there. "Sometimes I get people coming to me saying something like, 'I just know I want to work with animals.' They go away amazed at the opportunities available."
................................. 17 3.2. The main taxes ...................................................................................................................... 20 3.3. Tax rates in 2013 in Russia .................................................................................................... 22 4. LABOUR RELATIONS (INCLUDING IMMIGRATION LAWS) ......................................................... 25 4.1. Entry and stay of foreign citizens in the Russian Federation ................................................ 25 4.2. Types of visas for foreign citizens in the Russian Federation................................................ 25 4.3. Migration Registration of Foreign Citizens in the Russian Federation .................................. 28 4.3.1. The procedure for bringing the work of highly skilled professionals (VKS) ...................... 30 4.3.2
Gross Domestic Product (GDP) The gross domestic product (GDP) or gross domestic income (GDI) is a measure of a country's overall economic output. It is the market value of all final goods and services made within the borders of a country in a year. It is often positively correlated with the standard of living, alternative measures to GDP for that purpose. · Gross domestic product comes under the heading of national accounts, which is a subject in macroeconomics. Gross National Product Gross national product (GNP), in economics, a quantitative measure of a nation's total
Quack bank present buiseness plan by 8 november, presentation 9 november long term loan (10 years), at 4,8% interest rate. Conclusion I need this sum of money from bank. Business plann: 1. management summary 2. organisational profile 3. internal analysis 4. external analysis 5. strategy 6. financial prognosis Group feedback 7/11. Leadership and management A good manager is competent in all different management styles, and knows when to apply which style. 1. Autocratic 2. Democratic 3. Free reign (vabad käed, dellegeerimine) 4. Patriarchal (he knows best what is good for his children, "family" structure) The management process: - policy function (setting targets/goals, planning, decision making); - organizational (execution, monitoring, communication/information).
institutions institutions in the first group (MFIs) play important role in the process of money creation in modern economies. European Central Bank (ECB) describes Monetary financial institutions as including national central banks (and also ECB in the euro area), credit institutions and non-credit institutions which receive deposits from general public (individuals and non-MFI firms) and grant credit and/or invest in securities. Major non-credit MFIs in Europe are money market funds. Credit institutions are defined in the directive 1 relating to the taking up and pursuit of the business of credit institutions as: a) undertakings whose business is to receive deposits or other repayable funds from the public and to grant credits for its own account; or 1 Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions, http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?
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