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
Monopoly Market Power In pure competition sellers are "price takers." No seller (or buyer) has the ability to influence the market price. In most markets, at least one or more of the conditions required for pure competition are violated. This gives sellers or buyers the ability to influence the market price and allocation of resources Pure competition results in an optimal allocation or resources given the objective of an economic system to allocate resources to their highest valued uses or to allocate relative scarce resource to maximize the satisfaction of (unlimited) wants in a cultural context. Pure competition is the ideal that is be benchmark to evaluate the performance markets. The economic theory of · monopolistic competitive markets, · oligopoly and · monopoly
different inputs to be used. Production is an activity where resources are altered or changed and there is an increase in the ability of these resources to satisfy wants. · Before goods can be distributed or sold, they must be produced. · Within the market model, production and costs of production are reflected in the supply function Production, more specifically, · the technology used in the production of a good (or service) · the prices of the inputs determine the cost of production. Production processes increase the ability of inputs (or resources) to satisfy wants by: · a change in physical characteristics · a change in location · a change in time · a change in ownership
INTRODUCTION OF SUPPLY CHAIN MANAGEMENT (SCM) A supply chain is a network of facilities and distribution options that 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
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
EXERCISE N. 1 The demand and supply curves for fixed gear bikes in Hipsterland are �� = 75 − 1.5� and �� = 1.5� − 30. a. Find the equilibrium price; b. Find the equilibrium quantity; c. What are the consumer surplus, producer surplus, and total welfare at the market equilibrium? qD = 75 – 1,5*p => p = 50 – 2/3*q qS = 1,5*p – 30 => p = 20 + 2/3*q 75 – 1,5*p = 1,5*p – 30 3*p = 105 p* = 35 q* = 22,5 p S 50 35 2 0 D 22, 75 q 5 Producer surplus: ((35 – 20)*22,5)/2 = 168,75 Consumer surplus: ((50-35)*22,5)/2 = 168,75 Total welfare:
Positiivne tõus Positive slope Положительный наклон Verikaalne ja horisontaalne Infinite and zero slopes Вертикально и горизонтально Vertikaalne kõver Vertical intercept вертикально Sõltuv muutuja Dependent variable Зависимая переменная Otsene seos Direct relationship Прямая связь abtsisstelg Horizontal axis Ось – горизонтальная, абцисса Sõltumatu muutuja Independent variable Независимая переменная Pöördvõrdeline sõltuvus Inverse relationship Обратная зависимость Sirge tõus Slope of a line Подъем кривой
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. Also how the firm handled the problems which resulted from new government regulations to make the diamond industry more competitive. De Beers Diamonds is a Swizz-based company which was founded in 1888 by Cecil Rhodes, a British Business man. The company was financially supported by an Alfred Beit, who was a
" Macroeconomics examines the economy as a whole and answers questions · 'What causes the economy to grow over time?', · 'What causes short-run fluctuations in the economy?` · 'What influences the values various economic indicators and how do those indicators affect economic performance? Macroeconomics can be best understood in contrast to microeconomics. An understanding of microeconomics is crucial to understand macroeconomics. · To understand why a change in interest rates leads to changes in real GDP, · Need to understand how lower interest rates influence decisions, · The decision of how much to save, at the firm or household level; · To understand how an individual, on average, will change their behavior we will then understand the large scale relationships in an economy. Macroeconomics can also be useful. · The economicwell-being of all consumers, rich or poor, is affected by movements in
Design of operations. Variable cost changes in total in proportion to changes in the related level of total activity or volume. Fixed cost remains unchanged in total for a given time period, despite wide changes in the related level of total activity or volume. Cost driver is a variable, such as the level of activity or volume, that causally affects costs over a given time span. Relevant range is the band of normal activity level or volume in which there is a specific relationship between the level of activity or volume and the cost. Cost of goods sold: Beginning finished goods inventory Cost of goods manufactured Cost of goods available for sale Deduct: ending finished goods inventory Cost of goods sold Schedule of cost of goods manufactured Direct materials: Beginning inventory Add: purchases of DM = Cost of DM available for use Deduct: ending inventory Direct materials used Direct manufacturing labor Manufacturing overhead costs
Margit Tepner k0848752 Sustainability aspects of biofuels 1. Introduction The literature review will discuss the sustainability aspects of biofuels. Food production will be the main concern as it is the most debated issue, but other aspects, such as land use change and water consumption will be also considered as they are essential aspects in the biofuels sustainability criteria. The review will discuss the viability of biofuels based on the current technologies. Second-generation biofuels are not yet commercially viable and therefore will not be discussed; although they could significantly improve the sustainability of biofuels when they break through to the industrial scale. 2. The scale of biofuels production 2.1
....................püstitatud eesmärk 6. A detailed benefit analysis segmentation .........läbi viia detailne kasumianalüüs 7. A genuine product ............................................ehtne toode 8. A goal ...............................................................eesmärk 9. A group leader ..................................................kaadriülem 10. A liability .........................................................kohustus 11. A matter-of-fact selling relationship ................asjalik müügi suhe 12. A payment order ..............................................maksekorraldus 13. A previous office experience - ............................eelneva kontoritöö kogemus 14. A Production engineer .....................................tootmisinsener 15. A purchase .......................................................ost 16. A sales call .......................................................visiit ostja juurde 17. A sales force ..........
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 fresh and good tuna, costs a lot! Mostly becouse of sushi lovers and Japanese market demanding.First tuna will go to Japanese Tokyo and from there goes all around the world.Exports and Imports - an open economy differs from the closed economy because consumers and
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
...................................................................................... 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
” (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
nations · Attempts to achieve higher prices for producers · Greater availability of financing for producers · Longer-term and more sustainable buyer-seller relationships · The creation and/or maintainance of effective producer or worker organizations · Improved social goods and community development · Use of environmentally friendly production processes Requirements for certification: 1. Prices - produsers are guarateed a minimum price for the good, and a fare trade premium 2. Workers - safe working conditions, wages at least equal to the legal minimum, child labor is prohibited 3. Institutional structure - farmers must work as cooperatives, where decisions are made democratically 4. Environment certain harmful chemicals are forbidden 5. Stability and access to credit - buyers agree to long- term contracts (at least one year) Does fair trade work? UPSIDES · Fare Trade farmers received an average price of $0.56
However, it is possible that some people on the street will refuse to pay, anticipating that the service will be undertaken in any event. Despite the fact they may be prepared to contribute $100, they will claim that they are not prepared to pay, and instead hope that others in the street will pay for the system anyway, and they receive the benefit for no personal expense. The result is that it is possible no system will be installed, an example of market failure. This is despite the fact that allocative efficiency would be improved. Solution One common solution to the problem is to gather the 25 participants and make them behave like one customer, so the decision is reduced from 25 independent decisions to one. A vote can be taken, but if the answer is yes, everyone will be forced to pay for their individual support. This is why public services such as military defense and police service are provided by governments.
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
grown on the African oil palm tree. Oil palms are originally from Western Africa, but can flourish wherever heat and rainfall are abundant. Today, palm oil is grown throughout Africa, Asia, North America, and South America, with 85% of all palm oil globally produced and exported from Indonesia and Malaysia; but most of the time not using sustainable measures. The industry is linked to major issues such as deforestation, habitat degradation, climate change, animal cruelty and indigenous rights abuses in the countries where it is produced, as the land and forests must be cleared for the development of the oil palm plantations. According to the World Wildlife Fund, an area the equivalent size of 300 football fields of rainforest is cleared each hour to make way for palm oil production. This large-scale deforestation is pushing many species to extinction, and findings show that if nothing hanges, species like the
Pessimism vs. Optimism Different approaches to the ‘population-resources’ debate Malthus Task: View figure 13.57 (page 378 of Waugh). Draw the graph and discuss. Malthus believed that there was a finite optimum population in relation to food supply and that an increase beyond that point would lead to a decline in living standards and to war, famine and disease. An increase in the population above the optimum limit would therefore lead to war, famine and disease. A PESSIMISTIC approach Thomas Malthus (1798) proposed his work during the early stages of the industrial revolution when inadequate food and clothing were common features in England. His argument was that population
8% of final energy consumption. While there are many large-scale renewable energy projects and production, renewable technologies are also suited to small off-grid applications, sometimes in rural and remote areas, where energy is often crucial in human development.Kenya has the world's highest household solar ownership rate with roughly 30,000 small (20100 watt) solar power systems sold per year. Some renewable energy technologies are criticised for being intermittent or unsightly, yet the market is growing for many forms of renewable energy. Climate change concerns coupled with high oil prices, peak oil and increasing government support are driving increasing renewable energy legislation, incentives and commercialization. New government spending, regulation, and policies should help the industry weather the 2009 economic crisis better than many other sectors. Costs Renewable energy systems encompass a broad, diverse array of technologies, and the current status
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
RAHVUSVAHELINE OSTU-MÜÜGILEPING Õppeaines: TARNEAHELA HALDAMINE Tallinn 2012 SISUKORD A-1 GOOD SOLD..............................................................................................................................................................5 A-2 CONTRACT PRICE (ART. 4)...................................................................................................................................5 A-3 DELIVERY TERMS..................................................................................................................................................5 A-5 INSPECTION OF THE GOODS BY BUYER (ART. 3)...........................................................................................6
Shops and Shopping Task 1. Underline the most suitable word or phrase. a) That new clothes shop has a lot of very good bargains/sales. b) On Saturday morning the High Street is full of customers/shoppers. c) It costs £9, so give her £10, and she'll give you £1 change/rest. d) I don't go to that supermarket because it's a bit priced/pricey. e) You cannot return goods without the original recipe/receipt. f) Supasoft Soaps are for sale/on sale here. g) A carrier bag is free with each buyer/purchase over £10. h) If you pay cash, we can give you a 10 per cent cutting/discount.
playing, shared meals and other activities all go on routinely -- is more valuable than monetary wealth with a sterile family life. Sure, children can always grow up to beat the odds. But I'd rather cast my vote for public schools and the Republicans' "strong family values" over a private school upbringing that had joyless family life. Yes, the best is to have your cake and eat it, too. But although wealth just won't go around, love, sharing, reading, good manners -- are within the reach of all of us. Can't win 'em all, or predict. Some kids rebel no matter what. If we try our best to raise virtuous, well behaved, thoughtful offspring, and they nonetheless become sociopaths, vulgar ingrates -- then it is sad, but not something we could foresee or help. Sometimes peer pressure, or odd brain chemistry, or some trauma, warps our kids beyond reach. It's just tragic. But
ccc_tracy_fm_i-xviii.qxd 7/7/03 3:22 PM Page iii CHANGE YOUR THINKING, CHANGE YOUR LIFE How to Unlock Your Full Potential for Success and Achievement B R I A N T R AC Y JOHN WILEY & SONS, INC. ccc_tracy_fm_i-xviii.qxd 7/7/03 3:22 PM Page i CHANGE YOUR THINKING, CHANGE YOUR LIFE ccc_tracy_fm_i-xviii.qxd 7/7/03 3:22 PM Page ii ccc_tracy_fm_i-xviii.qxd 7/7/03 3:22 PM Page iii CHANGE YOUR THINKING, CHANGE YOUR LIFE How to Unlock Your Full Potential for Success and Achievement B R I A N T R AC Y JOHN WILEY & SONS, INC. ccc_tracy_fm_i-xviii.qxd 7/7/03 3:22 PM Page iv
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
The synchronous machines are associated with the name of Ferraris. The DC machines are associated with the names of Jacobi and Henry. The electromagnetic torque is born in air gap. The torque is proportional to the current in dc motor. Which equations are correct? P = sW; oomega = tuletis fii'st The angular frequency is 2*pi()*n / 60 ja 2*pi()f The motor torque is equal to TL + J * oomega tuletis aja järgi The inductor supplies the motor with flux. The leading companies in the world market of electrical drive engineering are: Mitsubishi. The energy balance is described by energy conservation law. The armature supplies the motor with current. The cheapest and the most reliable is induction motor. The torque production is the result of interaction of current - flux. The mechanical torque as compared to the electromechanical torque is ?? The source of the magnetic flux of the motor is DC or permanent magnet. The most suitable for the speed control is synchronous servo motor.
tühistamisest. · Anda müüja juhitud inventuur (VMI) teenused, mida üheskoos planeerimine inventari vajadused kliendi prognoositud lõppkasutaja nõudlus siis, jälgida tegelik nõudlus häälestada tegelik VMI tasanditel. (Märkus: VMI võib suurendada müüki ja kasumit eriti sellistes tööstusharudes, kus ostjad saavad minna alternatiivseid allikaid kui teie või teie edasimüüja stock-out). How to Forestall Bullwhip Effect? Deduce Centralized Demand Information Production and supply of goods according to the demand will help to reduce bullwhip effect. To implement this strategy, it is important to analyze the statistics of consumers who demand the particular product. For example, if the product involved is a shaving cream, it is important to estimate the number of men in a particular region who might use shaving cream. This can be found by deducting the number of woman and children in the area of demand. There are several other factors such as income, age, price,
Fiscal Policy Fiscal policy is that policy which is made by government for controlling the government expenditure, supply of money and taxes. Fiscal policy is great equipment in the hand of any country's government to make better tax system and to manage the public loan and expenditures. Types of Fiscal Policy The three possible types of fiscal policy: neutral, expansionary and contractionary. The definitions of these types are as follows: - A neutral stance of fiscal policy implies a balanced economy. This results in a large tax revenue.
WHAT IS A LOAN AGREEMENT? WHAT IS A LOAN AGREEMENT? The loan agreement is a contract entered into between the lender and borrower which regulates the terms of a loan. Loan agreements usually relate to loans of cash, but market specific contracts are also used to regulate securities lending. When an enterprise is in the process of starting or expanding, it will definitely require additional funding or capital. These finances can be acquired from financial institutions like banks or a third party willing to loan the money to the business. Where money is loaned to a business, the lender will want to have the borrower sign a loan agreement that explains essential issues regarding the loan.
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