chapter 1. introduction to managerial economics 1. what is managerial economics? Managerial economics = the science of directing scarce resources to manage effectively → each needs to understand how they can influence the demand through price and advertising‚ what is the best organizational architecture and how to compete Differences between ‘new’ and ‘old’ economy * Network effects in demand = the benefit provided to any user depends on the
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14e (Kotler) Chapter 10 Pricing: Understanding and Capturing Customer Value 1) ________ is the amount of money charged for a product or service. A) Value B) A demand C) Price D) A wage E) Salary Answer: C Diff: 1 Page Ref: 290 Skill: Concept Objective: 10-1 2) Price is the only element in the marketing mix that produces ________. A) revenue B) variable costs C) expenses D) outfixed costs E) stability Answer: A Diff: 2 Page Ref: 290 Skill: Concept Objective: 10-1 3) ________
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ch2 Student: ___________________________________________________________________________ 1. Record levels of American outward foreign direct investment from 2000 to 2009‚ totaling more than $2 trillion‚ caused U.S. exports to decline during this time period. True False 2. Small and medium-sized enterprises accounted for nearly one-third of all U.S. exporters. True False 3. International trade includes exports‚ imports‚ and foreign direct investment. True False 4. Importing and foreign direct
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Managerial economics Definition * economics * ADAM SMITH - According to ADAM SMITH (Father of economics)‚ economics is the “science of wealth”. According to him the acquisition of wealth is the main objective of human activity. Therefore it is necessary to study how wealth is produced. This is the subject mater of the economics… * ALFERED MARSHELL: - According to ALFERED MARSHELL‚” political economy or economics is the study of means and action in the ordinary business of life
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1. The term “metazoan” is a synonym with “multicellular animal.” Are there any single celled animals? How are single-celled eukaryotes classified? 2. Give eight characteristics of sponges. Multicellular animals‚ body had pores‚ canals‚ and chambers‚ all sponges are mostly marine or totally aquatic‚ they exhibit radial symmetry or no symmetry‚ all adults are sessile and attached to the substratum no organs or true tissue are present‚ asexual reproduction occurs by buds or germmules‚ outer surface
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Chapter 8 Section 1 -In 1789‚ the American people had a new Constitution. They also had a new Congress and their first President. -The United States was one fourth of its size today. All thirteen states were in the East. -The nation’s western border followed the Mississippi River. In the North‚ the Great Lakes formed much of the border separating the United States from British-controlled Canada. -In the South‚ the United States bordered on Spanish-controlled Florida and Louisiana. -In April of
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Principles of Marketing‚ 14e (Kotler) Chapter 12 Marketing Channels: Delivering Customer Value 1) Which of the following is NOT a typical supply chain member? A) resellers B) customers C) intermediaries D) government agencies E) raw materials supplier Answer: D Diff: 1 Page Ref: 340 Skill: Concept Objective: 12-1 2) ________ the manufacturer or service provider is the set of firms that supply the raw materials‚ components‚ parts‚ information‚ finances‚ and expertise needed to create
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Chapter 12 - Media Planning Essentials Scenario 12-1 Appleberry Farm Organic Jam has remained No. 1 one in the jam and jelly food category for several years. Although still a distant No. 2 in this category‚ Blackberry Valley Organic Jam is gaining on Appleberry. Appleberry had $39‚466‚000 in sales last year‚ while Blackberry had only $16‚301‚000‚ but that was 11 percent higher than its 2008 sales. Organic jams and jellies are important to marketers because they appeal to health-conscious consumers
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Chapter 11: Communication *I didn’t write definitions for obvious terms. Communication must include both the transfer and understanding of meaning pg. 336 1. Function of communication 2. Communication process a. Communication Process (1) the sender‚ (2) encoding‚ (3) the message‚ (4) the channel‚ (5) decoding‚ (6) the receiver‚ (7) noise‚ and (8) feedback. Pg.338 b. Formal Channels are established by the organization and transmit messages related to the professional activities of members
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MBA Managerial Economics Review Questions for the Final Exam (Illustrative Answers) PRICE IS LOWER IN A MORE ELASCTIC MARKET!!!!!!!!!! 0.1-1 Introduction:Managerial Decision-Making and Market Processes (a) How does operational effectiveness differ from organizational strategy? Operational effectiveness is achieving excellence in individual activities while organizational strategy is about combining these activities to fit and reinforce one another and create competitive advantage and
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