...Supply and Demand Simulation Paper Roberta Barker ECO/365 August 25, 2014 Dennis Mc Guckian Supply and Demand Simulation Paper The simulation presents real-world scenario of how shifts of the supply and demand curve affect the equilibrium price and how understanding these concepts aids in the decision-making process. At each stage, new variables are introduced causing the shifts of the supply and demand curves the challenge is to determine the new equilibrium price correctly. This paper will explain what parts of the simulation are categorized as microeconomics and which are macroeconomics and why. In addition, identify a shift of the supply curve, a shift of the demand curve, and what caused the shift. I will also discuss what I have learned about supply, demand, and equilibrium price, and how microeconomics and macroeconomics principles or concepts affect it all. Microeconomic Principles or Concepts The first scenario I categorized as a microeconomic concept is the first challenge to reduce the number of vacancies in GoodLife’s two bedroom, temporary month-to-month lease apartments from 40 percent to less than 15 percent, finding a rental rate that will net maximum revenue. The second scenario I also put in this category involves an increase in in the number of rental units the company handles (from 2,000 to 2,500 units) and the rent increase to cover the additional maintenance required to rent all 2,500 units. My reasoning is microeconomics is the study of individuals’...
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... | | |Microeconomics |In the natural gas market, gas is in supply all year round. |Microeconomics is a measure of | |The branch of economics that analyzes the |Natural gas to heat people’s homes is in increases in demand |specific economic units, which are an | |market behavior of individual consumers and|in the winter time. The supply could eventually run low |individual industry, firm, or | |firms in an attempt to understand the |depending upon where Shell gets its gas from. Natural gas is |household. | |decision-making process of firms and |in less demand in the summer time. There is no control over if| | |households. It is concerned with the |the price of a therm may go up anytime with People’s Gas. I |We measure | |interaction between individual buyers and |worked for Just Energy for one week last year in June and quit|The price of a specific product, the | |sellers and the factors that influence the |because they wanted to charge customers’ .79 per therm and |number of workers employed by a single| |choices made by buyers and sellers. In |lock customers’ in a five year contract when it costs less to |firm, the revenue or income of a | |particular, microeconomics focuses on |remain on a flexible plan with People’s Gas. The electricity...
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...Market Overview of Caruthersville Jeffrey Tarpley ECO204: Principles of Microeconomics Nicholas Bergan October 7, 2013 Market Overview of Caruthersville Jeffrey Tarpley ECO204: Principles of Microeconomics Nicholas Bergan October 7, 2013 The town of Caruthersville Missouri has a diversified market structure on the local level. It has some businesses that supply products on a national level and even on the international level. The objective is to find what is presently here and what can be done to improve the business environment in Caruthersville. Lets begin by looking at the types of market structures. A large number of buyers and sellers, ease of entry and exit in the industry, perfect knowledge, and mobility of resources characterize perfect competition market. (Amacher & Pate, 2013, p. 9.1) A market structure that has only one seller of a product with no close substitutes is considered a monopoly. Many firms selling differentiated products with easy entry and exit in the industry are called monopolistic competition. A few firms competing with mutual interdependence in the market is called oligopoly. The structure called oligopoly is sometimes viewed as a shared monopoly. (Amacher & Pate, 2013, p. 11.4) Internet providers would fall into this category; they seem to offer the same service at relatively the same price level. There seems to be obstacles of government regulations and licensing that help to deter new competition from entering...
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................................................................. 7 II. Supply chain management...................................................................................... 8 2.1 Concept of Supply Chain Management.......................................................... 8 2.2 Elements of the Supply Chain......................................................................... 9 2.3 Three levels of Supply Chain Management.....................................................11 2.4 Supply Chain Management Technology…….................................................. 13 III. The supply chain solution for Multinational giant Retailers in China................. 13 3.1 Wal-Mart’s development in China............................................................. 14 3.1.1 When Wal-Mart first came into China............................................. 14 3.1.2 Challenges Wal-Mart met in China.................................................. 17 3.1.3 Wal-Mart’s supply chain solution in China....................................... 17 3.3 Carrefour’s development in China ............................................................. 17 3.2.1 Introduction of Carrefour ............................................................ 19 3.2.2 Learn from Taiwan’s experience entering into China....................... 19 3.2.3 Supply chain...
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...Figure 2.2: foundation of aligned supply chains CHAPTER 2.3: PORTER’S ANALYSIS According to Porter, companies must look for having a superior comparable performance regarding competitors in the same industry, and described that the competitive advantage is to have a profitability level greater than those in the industry on the long run. He also described the cost leadership and the differentiation as the two types of competitive advantage a company can have, depending on the sources on which it is based on. In 1985, Professor Porter defined competitive advantage as the ability of adding value in the eyes of consumers, meaning the value perceived might be superior than the sum of the amount of costs related to the production processes. Subsequently, Porter’s conception of strategy is that it is a matter of competitive position, that a company creates by differentiating themselves in the eyes of its valuable customers, including a process of adding value along a structure of different activities interrelated in a way imperceptible for competitors, and so that this complex mix differs from those created or used by competitors. By 1980, Porter defined the competitive strategy as all the offensive or defensive actions a company does in order to create a favorable and sustainable position within an industry with the objective of having a superior performance which at the end will be convert as a considerable ROI (return over investment). Additionally, he explained that these actions...
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... |Total Fixed Cost | |Barnes & Noble books |-4.00 | |Coca-Cola |-1.22 | |Cigarettes |-0.25 | |Beer |-0.23 | |Gasoline |-0.06 | In your project, address the following questions: Using the elasticity estimates in the table above, classify the price elasticity demand as elastic or inelastic. Explain your reasoning. Explain the implications of those classifications on tax revenue collections when the per-unit tax increases as opposed to decreases. Using those classifications, make some assumptions regarding tax incidence. For instance, will buyers or sellers pay a larger portion of the tax per unit? Explain. Conclude, based on the elasticity classifications, their effect on tax revenue and tax incidence, and which goods the government would prefer to tax. Project Part 2 Introduction: Suppose that the U.S. currently buys and produces wingdings, a fictitious economic good. The U.S. faces the world price, and domestic suppliers sell as...
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...Microeconomics and the Laws of Supply and Demand The Laws of Supply and Demand The laws of supply and demand are detrimental to our economy today. It is what actually drives our market economy. Buyers determine the quantity produced of a particular product based on their demand for that product and the price he or she is willing to pay for it. Supply is then created by producers when and if they are willing to accept the current rate for which they will get from production of that product. At the end of the day, price is what drives supply and demand. “The law of demand states that, if all other factors remain equal, the higher the price of a good, the less people will demand that good. In other words, the higher the price, the lower the quantity demanded. The amount of a good that buyers purchase at a higher price is less because as the price of a good goes up, so does the opportunity cost of buying that good. As a result, people will naturally avoid buying a product that will force them to forgo the consumption of something else they value more” (Heakel, 2014). “Like the law of demand, the law of supply demonstrates the quantities that will be sold at a certain price. But unlike the law of demand, the supply relationship shows an upward slope. This means that the higher the price, the higher the quantity supplied. Producers supply more at a higher price because selling a higher quantity at a higher price increases revenue” (Heakel, 2014). The simulation exercise...
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...adjust its business model to maintain online dominance • Purchase of PayPal, deal with Buy.com allowed eBay to grow and diversify its business di it • Demonstrates IT’s role in the development of eBay’s organization as it expands and makes acquisitions • Illustrates the challenges of maintaining a competitive advantage in a fast-moving, constantly-changing marketplace 3 Organizations and Information Systems • Information technology and organizations influence each another • Complex relationship influenced by organization’s structure, relationship influenced by organization structure business processes, politics, culture, environment, and management decisions This complex two-way relationship is mediated by many factors, not the least of which are the...
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...THE KROGER COMPANY Company Analysis BY Wayne Hurt 6/27/12 Abstract: The purpose of this paper is to run a complete company analysis. This includes the company background, the industry structure including practices of economic theory to create value, ethical issues, regulatory agencies, the macroeconomic and microeconomic environment of corporate operations, and a conclusion. Table of Contents The Kroger Company’s (KR) Background…………………………………….3 KR’s Structure………………………………………………………….............4 Ethical Issues…………………………………………………...........................9 Regulatory Agencies………………………………………………………….10 Environmental Issues………………………………………………………....12 Macroeconomic and Microeconomic Environment………………………….14 Conclusion.........................................................................................................17 Appendix 1 Table 1…………………………………………………………..21 Appendix 2 Chart 1…………………………………………………………..21 Bibliography…………………………………………………………………22 Background of The Kroger Company (KR) The Kroger Company (KR) is one of the leading companies in the grocery sector of the nation. It is the nation’s leading pure grocery chain. As of now, it operates about 3620 stores, which includes 2435 supermarkets and multidepartment stores, under two dozen banners, in almost 30 states. It also runs 775 convenience stores under the brand names such as Quik Stop and Kwik Shop. Its subsidiary Fred Meyer Stores operates about 125 supercenters which offer wide range of products...
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... | |Harry Singh | |02/11/2015 | Contents What Is The Marketing Process 2 Benefits and Draw Backs of of having a Marketing Orientation 2 Benefits and Draw Backs of of having a Marketing Orientation (Cont) 3 What is Macroeconomics 4 Pestle Analysis 4 Pestle Analysis (Cont) 5 What is Microeconomics 6 Porter's Five Forces Theory 6 Porter's Five Forces Theory (Cont) 7 References 8 References (Cont) 9 What Is The Marketing Process There are a number of different definitions from organisations or individuals to describe it, The UK Chartered Institute of Marketing’s used the Author ‘Blyth’s’ definition; ‘Marketing is the management process which identifies, anticipates and supplies customer requirements efficiently and profitably’ [1] Quite simply marketing is an activity carried out by various people in a business or in an organisation which is designed to understand and satisfy their customer’s needs, which also allows the business or...
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...Team # 90 Client (Company): Wal-Mart Chosen target country: Malaysia Product/Service: We are proposing to Wal-Mart to build a new store in a location that consumers do not have access to one. In this particular store, we want Wal-Mart to focus on grocery goods that are specific for that area, paper goods, chemicals, and a pharmacy. We will also be proposing using this location to test the effects of Square Wallet application on sales. Number of pages, including title page: 40 Team members: Name Country Did Not Participate (Please make a note if this teammate did not contribute during the project, has not replied to emails, etc.). La’Keisha Shaw United States-NC Logan Healy United States-DC Renata Ortiz Jafet Brazil Hafiz Asjad Ali Pakistan Did Not Participate Chye Boon Check Malaysia Table of Contents: 1. Executive Summary 3 2. The Organization 5 3. Product/Service 9 4. Market Opportunity Analysis 11 5. Basic Characteristics of the New Market 18 6. Economic Environment 21 7. Political and Legal Environment, Government 26 8. Cultural Environment 29 9. Entry Mode 32 10. Staffing 34 11. Marketing 37 12. Appendices 38 Executive Summary • The organization: We would like to develop an economically viable international business proposal for Wal-Mart. • Product/service: We are proposing Wal-Mart to build a new store in a location that consumers do...
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...examiner at two other UK universities. He holds qualifications from London, Salford and Leeds Universities and Trinity College of Music, London. In April 2008, he was awarded the degree of Doctor Honoris Causa by the Technical University of Košice. He is married to Heather and has two grown-up children, David and Rachel. In his spare time he is a keen amateur pianist and organist. Brief Course Description International business activity is one of the key features of the contemporary global economy. The decision to venture abroad involves the evaluation of alternative entry modes, bearing in mind the degree of risk and the suitability of the business environment in a potential host country or region. Political, economic, cultural and other factors are all of vital importance. This short course aims to explore these issues in the light of current research and with reference to recent developments in the global economy. The course will be delivered through a combination of lectures, discussion groups, plenary discussion and case study analysis. LECTURE PROGRAMME: INTERNATIONAL ENTRY AND COUNTRY ANALYSIS 1. Motives for Going International Businesses venture abroad for a variety of reasons and there is a large international business literature on this...
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...de proyectos empresariales(PDGPE) Vocal:Francesc Tiñena Salvañà Compresion de datos e imagen (CDI) Secretari:Jose M. Cabré Garcia Empresa y entorno economico(EEE) QUALIFICACIÓ Qualificació numèrica: Qualificació descriptiva: Data: INDEX CHAPTER 1: INTRODUCTION CHAPTER 2: VERTICAL INTEGRATION 2.1. VERTICAL INTEGRATION 2.2: THE THREE A’S OF A SUPPLY CHAIN EXCELLENCE 2.2.1: AGILITY 2.2.2: ADAPTABILITY 2.2.3: ALIGNMENT 2.3: PORTER’S ANALYSIS 2.4: EXAMPLES: WAL-MART AND DELL CHAPTER 3: THE SYSTEM LOCK-IN 3.1 THE DELTA MODEL 3.2: THE SYSTEM LOCK-IN 3.3: EXAMPLE: FORD MOTOR CO 3.3.1: FORD MOTOR CO LOCK-IN CHAPTER 4 : ZARA 4.1 ZARA’S HISTORY 4.2 BUSINESS MODEL 4.2.1: PORTER’S ANALYSIS ON ZARA 4.2.2 PRODUCT LIFE CYCLE CURVE 7 9 9 13 15 16 17 19 30 36 36 39 41 42 45 45 47 47 49 1 4.2.3: KEY FACTORS OF SUCCESS 4.2.4: STRATEGIC DRAWBACKS 4.2.5: LOGISTICS AND SUPPLY CHAIN 4.2.6: STRATEGY 4.2.7: OPPORTUNITIES 4.3 THE MATHEMATICAL MODEL 4.4 FINANCIAL DATA 4.5 COMPETITORS CHAPTER 5 : BENETTON 5.1 BENETTON’S HISTORY 5.2 BUSINESS MODEL 5.2.1: STRENGHTS 5.2.2: WEAKNESSES 5.2.3:PARTNERSHIP 5.2.4: INTEGRATION 5.2.5: SUPPLY CHAIN HISTORY 5.2.6: NETWORKED MANUFACTURING 5.2.7: POSTPONEMENT IN DYEING 5.3: INFORMATION SYSTEM 5.3.1: THE SHOP 2 50 51 54 59 65 66 71 73 76 76 83 83 84 88 90 91 93 94 96 99 5.4: FINANCIAL DATA...
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...Retailing in the 21st Century Manfred Krafft ´ Murali K. Mantrala (Editors) Retailing in the 21st Century Current and Future Trends With 79 Figures and 32 Tables 12 Professor Dr. Manfred Krafft University of Muenster Institute of Marketing Am Stadtgraben 13±15 48143 Muenster Germany mkrafft@uni-muenster.de Professor Murali K. Mantrala, PhD University of Missouri ± Columbia College of Business 438 Cornell Hall Columbia, MO 65211 USA mantralam@missouri.edu ISBN-10 3-540-28399-4 Springer Berlin Heidelberg New York ISBN-13 978-3-540-28399-7 Springer Berlin Heidelberg New York Cataloging-in-Publication Data Library of Congress Control Number: 2005932316 This work is subject to copyright. All rights are reserved, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilm or in any other way, and storage in data banks. Duplication of this publication or parts thereof is permitted only under the provisions of the German Copyright Law of September 9, 1965, in its current version, and permission for use must always be obtained from Springer-Verlag. Violations are liable for prosecution under the German Copyright Law. Springer is a part of Springer Science+Business Media springeronline.com ° Springer Berlin ´ Heidelberg 2006 Printed in Germany The use of general descriptive names, registered names, trademarks, etc. in this publication does not...
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...Chapter 01 The Scope and Challenge of International Marketing True / False Questions 1. (p. 3) Global commerce thrives during peacetime. TRUE Difficulty: Easy Type: Knowledge 2. (p. 4) To date, the lesson for international commerce in the 21st century is "expect the unexpected." TRUE Difficulty: Easy Type: Knowledge 3. (p. 5) Today, every American business is international. TRUE Difficulty: Moderate Type: Comprehension 4. (p. 5) One event that will influence the shape of international business as the future unfolds is the rapid growth of the World Trade Organization, NAFTA, and the European Union. TRUE Difficulty: Moderate Type: Comprehension 5. (p. 5) One event that will influence the shape of international business as the future unfolds is the unprecedented acceptance of communism and socialism in Latin America. FALSE Difficulty: Moderate Type: Comprehension 6. (p. 5) A trend that will impact international business in the future is a mandate to properly manage the resources and global environment. TRUE Difficulty: Moderate Type: Comprehension 7. (p. 5) Today, most business activities are local or regional in scope. FALSE Difficulty: Moderate Type: Knowledge 8. (p. 6, Crossing Borders 1.1) What do French farmers, Chinese fishermen, and Russian hackers have in common--they can all receive subsidy payments from the U.S. government. FALSE Difficulty: Moderate Type: Knowledge 9. (p. 6) Foreign-made products remain a small...
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