Economics 202 Fall 2013 Exam 1 1. A resource is something that a. is used to produce goods and services b. is provided by nature‚ not made by society c. exists in unlimited quantities d. must be produced by a firm 2. Michigan has an abundant supply of fresh water. However‚ an economist would consider it a scarce resource because a. water is necessary for humans ’ physical survival b. pollution will eventually destroy all life in the Great Lakes c. water is limited relative to people ’s unlimited
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Assignment: Supply and Demand Paper Due Sunday Day 7 – XECO/212 Instructor- Robert Peart Student- Emily Hopple I have had the personal experience of purchasing my college education. Picking a college was very challenging and I had huge amounts of pros and cons to weigh throughout my decision process. I knew that going to college and receiving a college education would be a wise investment and would better benefit me in the future financially. The supply and demand for a college education
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the efficacy of its supply chain. Around the world (including India)‚ approximately 85% of McDonald’s restaurants were owned and operated by independent franchisees. Yet‚ McDonald’s was able to run the show seamlessly by outsourcing nine different ingredients used in making a burger from over 35 suppliers spread all over India through a massive value chain. Between 1992 and 1996‚ when McDonald’s opened its first outlet in India‚ it worked frenetically to put the perfect supply chain in place. It trained
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Name __________________________________ Directions: Please print your name on this page of the exam‚ and put your initials on each page in case I need to reassemble your test (ie – the staple fails). Second‚ record this exam version on the Scantron sheet in the block title‚ “Marking Instructions.” This exam consists of 19 questions; you should answer all 19 of them. The value of each of the 15 multiple choice question is 6 points for a total of 90 and the value of each short answer question
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Supply Chain Structure The adidas Group has outsourced most of its production. We work with more than 1‚200 independent factories from around the world that manufacture our products in 63 countries. The most dominant sourcing locations are: China‚ India‚ Indonesia and Vietnam. Our supply chain is global and multi-layered‚ with many different types of business partners‚ some of who are directly contracted factories‚ and others who are not. In 2011‚ the top five countries per region by number of
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Bergerac Systems: The Challenge of Backward Integration Abstract Veterinary expenditure has been on an increasing trend due to the increase in pet ownership in the United States. Bergerac is a company producing equipments used for testing pet patients in the veterinarian clinics. Omnivue is one of the most successful equipments produced by the company‚ which is priced at a competitive rate to attract lower and middle sized veterinarians. The production of Omnivue involves the use of plastics and
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1. Supply and Demand Economists Are a Joke? ________________________________________ A smarty-pants old story says that if you want a "learned economist‚" all you have to do is get a parrot and train the bird to squawk "supply and demand" in response to every question. Not fair‚ but ... It ’s true that the "theory of supply and demand" is a central part of economics. It is widely applicable‚ and also is a model of the way economists try to think most problems through‚ even when the theory of
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Executive summary The purpose of this report is mainly focus on the analysis of distribution strategies. The distribution strategies is a very systematic and comprehensive strategy in the logistic and supply chain management. This report divides the distribution strategies into four parts to analyse it comprehensively. There are centralized and decentralized decision-making management strategy‚ cross-docking strategy‚ postponement strategy and outsourcing strategy. Firstly‚ it introduces the
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trend towards transferring fast fashion production to low-cost countries. While it spent little on ads‚ it spent heavily on stores. Zara is a vertically integrated retailer. Unlike similar apparel retailers‚ Zara controls most of the steps on the supply-chain: It designs‚ produces‚ and distributes itself. The business system that had resulted was particularly distinctive in that Zara manufactured its most fashion sensitive products internally. Zara did not produce "classics"‚ clothes that would always
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LINKS Supply Chain Management Fundamentals Simulation Revised July 2010 Randall G. Chapman‚ PhD 2 LINKS Supply Chain Management Fundamentals Simulation Table of Contents Chapters 1/2: Introduction and Perspective ................................................................. 3 Chapter 3: Product Development Decisions................................................................. 7 Chapter 4: Procurement Decisions ...............................................................
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