Name the person or the company. Anil Agarwal – founder‚ chairman of Vedanta Vedanta Resources (Hint: The issue is related to the state of Orissa) 2) What is so unique about this airplane? World’s first
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What are the differences between absolute advantage and comparative advantage? Absolute advantage and comparative advantage are two basic concepts to international trade and perhaps two most important concepts in international trade theory. Under absolute advantage‚ one country can produce more output per unit of productive input than another. With comparative advantage‚ if one country has an absolute (dis)advantage in every type of output‚ the other might benefit from specializing in and exporting
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What is the difference between competitive advantage and comparative advantage? Answer: An advantage that a firm has over its competitors‚ that differentiates the Product or services offered by the firm and allows the firm to reduce it’s Cost or generate Higher Revenue or Margin is known as Competitive Advantage. A competitive advantage is something that a consumer views in a product or service as having higher value than the other competitors of the firm in the industry. It is an expertise that
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Airplanes played a huge part in World War Two‚ in the next few paragraphs I will tell some the the types of airplanes‚ and some of the most notable airlplanes that flew in World War II. There were many different types of airplanes that were used in the second world war‚ the main ones were: Fighter Planes‚ Bombers‚ Dive Bombers‚ and last but surtainly not least Attack. I’ll start off first by talking about fighter pAirplanes played a huge part in World War Two‚ in the next few paragraphs I
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COMPETITIVE ADVANTAGE Companies all seek a competitive advantage‚ as that will give them the opportunity to sustain profits that exceeds the average in their industry. The three major competitive advantages are differentiation‚ cost and response. Companies can therefore either gain a competitive advantage by offering a unique product differentiation‚ by offering similar products at a lower cost or by offering products at a time and place where the customer are in need of the product. Differentiation:
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In the last couple years airplane tickets have skyrocketed. The common question is: Why do airplane tickets fluctuate so much? And there are actually lots of reasons‚ such as oil prices‚ supply and demand‚ taxes‚ and more. There are ways to lower prices for tickets‚ but overall‚ they are very expensive‚ and I think that they should be less. Airplane tickets have gone up for a number of reasons. In the article Why your Airplane ticket is so expensive nowadays the author explains how there are
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Advantages and dis advantages of credit cards More and more people are using credit cards now a days .As the number of people using credits cards rises‚ also the number of people with bad credit rises .Instead of carrying a wad of cash in your wallet it’s not really hard to think about carrying something small and convenient .How about a small piece of plastic that’s about four inches long. More people are using plastic currency more than paper. But before you think about of just getting just any
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In 1978‚ The Airline Deregulation Act was purposed and signed by President Jimmy Carter. This federal law came into existence for two main reasons; stated by Carter (1978)‚ “to help our fight against inflation‚ and to ensure American citizens of an opportunity for low-priced air transportation. Today’s motives in the airline industry go way beyond economic decisions for themselves as well as their shareholders. Nowadays‚ businesses are an essential part of society and the airline industry must
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The invention of the airplane effected ordinary people in both positive and negative ways. The first public plane service only took one passenger at a time. It cost $5 for a one way trip across Tampa Bay which was called St. Petersburg. They provided the public with two trips per day and for four months. Compared with the two hour boat road the twenty three minute plane ride was much preferred by travelers. This being an exception commercial aviation was not very common before world war one as most
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The Absolute Advantage concept is generally attributed to Adam Smith for his 1776 publication An Inquiry into the Nature and Causes of the Wealth of Nations in which he countered mercantilist ideas. Adam Smith argued that it was impossible for all nations to become rich at the same time by following mercantilism because the export of one nation is another nation’s import and instead stated that all nations would gain simultaneously if they practiced free trade and specialized in accordance with their
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