You may have heard about goods being classified as either a search or an experience good. The concept is not new‚ and was actually developed by American economist Philip Nelson. These classifications provide a working distinction between different types of products and services. If you like/need examples of Nelson’s classifications‚ here are some. Paper (notebook‚ copier‚ etc.) is a search good. Paper products can be easily be compared and evaluated prior to purchase. Commodities are search
Premium Goods
How can one tell a winning strategy from a strategy that is mediocre or a loser? Give examples and details and always cite your sources of information. A company strategy is its action plan for outperforming its competitors and achieving superior profitability. The objective of a well-crafted strategy is not merely temporary competitive success and profits in the short run‚ but rather the sort of lasting success that can support growth and secure the company’s future over the long term. (Thompson
Premium United States Overseas Chinese Chinese cuisine
Week 2-Journal Why is it important to complete a readiness assessment prior to starting an exercise program? A clear assessment is very important to take before you start an exercise because benefits which tailor the program to your body needs. It is develop to help you deal with difficult and any potential stress. Direct service to improve quality valid purpose‚ by joining a gym or an exercise group. You can hire a personal trainer to come to your home to write out a detail exercise program design
Premium Medicine Exercise Strength training
1 . Revenue increases when A. producer surplus increases B. producer surplus decreases C. consumer surplus increases D. consumer surplus decreases Answer : A. producer surplus increases 2 . An increase in the price of an inelastic good A. decreases revenues B. decreases the percentage change in quantity less than the percentage change in price C. increases revenues D. increases the percentage change in quantity more than the percentage change in price Answer: C. increases revenues
Premium Supply and demand
the values and mission statement help to shape planning. Also give some internal and external factors that may influence the business in the future and explain how they will influence the business. Respond substantively to two other learners. 1. Dunkin’ Donuts Dunkin Donuts core and distinctive competence is the ability to market and sell baked goods and coffee. The Dunkin Donuts mission statement is“Dunkin’ Donuts will strive to be the dominant retailer of high quality donuts‚ bakery
Premium Krispy Kreme Dunkin' Donuts Doughnut
regulatory compliance PE = expected (future) changes in price TA = adjustment time period T/S = taxes or subsidies Product A is more riskier as Std dev / mean = 0.8 and for Product B it is 0.5 thus A is more riskier Not yet rated Anonymous - 1 hour later fot this we will calculate the coefficient of variation of both the product. coefficient of variation= SD/meanx100 coefficient of variation of Product A= 40000/50000x100= 80% coefficient of variation of Product B= 12500/250000x100= 5%
Premium Hybrid electric vehicle General Motors Toyota Prius
Introduction For this assignment‚ General Motors is the automobile company that will be reviewed and researched in detail. In the year 1908 William Durant‚ who was already known as a leader in this industry for horse drawn vehicles‚ founded General Motors. "At its inception GM held only the Buick Motor Company‚ but in a matter of years would acquire more than 20 companies including Oldsmobile‚ Cadillac‚ and Oakland‚ today known as Pontiac" (General Motors‚ 2012). In this paper GM ’s income statement
Premium Marginal cost Variable cost Costs
1.2a What is your distribution plan for your product or service? Discuss how SCORE mentoring might be of assistance in your distribution planning. Use appropriate references and post to the 1.2a discussion board. Business dictionary defines distribution plan as a plan created by the management of a business that specifies how the firm intends to transfer its products to intermediaries‚ retailers and end consumers. Currently I am a full time seller on eBay. eBay is an ecommerce company that
Premium Electronic commerce Management Marketing
Week One Health Care Financial Terms WorksheetHCS/405 Version 5 | 1 | University of Phoenix Material Week One Health Care Financial Terms Worksheet Understanding health care financial terms is a prerequisite for both academic and professional success. This assignment is intended to ensure you understand some of the basic terms used in this course. Complete the worksheet below according to the following guidelines: · In the space provided‚ write each term’s definition
Premium Management Health care Medicine
Statistical Information Thomas Porter HCS-438 February 21‚ 2011 Jeanette May Statistical Information In choosing caregiver statistics‚ it is with the intent to familiarize and inform about the staggering numbers of those who are informal or unpaid caregivers on a national level. With baby boomers turning of age‚ it appears that the need for care givers will increase with those turning of age. “Informal caregiver and family caregiver are terms that refer to unpaid individuals such as family
Premium Family Caregiver Alzheimer's disease