307 Study Guide Terms 1. Convenience Products: those for which the consumer is not willing to spend any effort to evaluate prior to purchasing. 2. Shopping Products: those for which the consumer will spend time considering alternatives, such as apparel, fragrances, and appliances. 3. Specialty Products: products/services that the customer shows a strong preference and for which he or she will spend considerable time searching for the best supplier 4. Voice of Consumer (VOC) Program:
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Indian Railways – A monopoly Abstract In economics, monopoly (from Greek monos (alone or single) + polein (to sell)) exists when delivery of a particular product or service is completely controlled by an individual or an enterprise. This is in contrast to monopsony where there is only one buyer of a particular product or service; however there can be more than one provider. It is also different from cartel (a form of oligopoly) wherein several providers establish an institution and coordinate their
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Indian Railways – A monopoly Abstract In economics, monopoly (from Greek monos (alone or single) + polein (to sell)) exists when delivery of a particular product or service is completely controlled by an individual or an enterprise. This is in contrast to monopsony where there is only one buyer of a particular product or service; however there can be more than one provider. It is also different from cartel (a form of oligopoly) wherein several providers establish an institution and coordinate their
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Introduction of soft drink industry: Soft drinks introduced in seventeenth century. These were known as non carbonated soft drinks and prepared by mixing honey and lemon with water and this soft drink was sold in Paris in small plastic cups. Later on it was produced in large scale John Mathew invented an equipment which is capable of producing carbonated water in large scale. The first flavoured drink was prepared by Doctor Philip Sing Physic in 1807. Later on it was liked as health drink and
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(ECON110)2008_s_final_ECON110_106.pdf downloaded by adatta from http://petergao.net/ustpastpaper/down.php?course=ECON110&id=2 at 2013-12-01 09:03:35. Academic use within HKUST only. 1. In the long run, A) any firm can enter the industry. B) any firm can enter the industry if there is no barrier to entry. C) any firm can enter the industry only if existing firms earn economic profit. D) any firm can enter the industry only if it is a perfectly competitive industry. Questions 2 to 4 — The following
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FINAL EXAMINATION Name of Student: ________________________________________________________ Student Number: ________________________________________________________ INSTRUCTIONS: This exam is in two parts. PART A (multiple choice questions) is to be answered on the examination paper itself. PART B should be answered in the exam book provided. Print your name clearly and give your normal signature and student number above and on the cover of the exam book(s) used. PART A: Multiple Choice Questions
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|Terminology |Definition | |Absolute Advantage |Absolute Advantage occurs when one country can produce more of a good or service with the same or resources | | |and more cheaply than another country | |Absolute poverty |Absolute poverty describes
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Task – 1 1.1 Identify the purposes of different types of organization. Business organisations: To make a profit in a socially standard way. For example: Airlines, Fast food. Non-profit service organisations: They want to help to all of people without any profit. For example: NHS, Universities. Mutual-benefit organisations: Individuals join together to pursue their own self-interest. For example: Clubs, Trade Union. Commonweal organisations: They provide service to all members of a
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Business environment Introduction Business environment is the combination of two factors internal and external. These two factors influence a company’s operating situation. In other words business environment is the sum of living person, location and natural resources. In business environment internal factors include five M’s such as, man, material, money, machine and management. These internal factors change the function of business. External factor are those factors which are beyond the control
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Transportation and Infrastrucutre development in Eastern africa Transportation and Infrastrucutre development in Eastern africa Literature Review Business Communication Johns Hopkins University Professor Crain Mohammad Alam Malam6@gmail.com The Perfect Chalk factory LTD is a private limited company (LTD), located in Kigali, Rwanda. Currently in 83% of the inhabitants of Rwanda are without electricity, making traditional forms of teaching, like chalk and chalk board
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