I. MICROECONOMIC Micro-environment is preferred as ‘the operating system’ which includes the forces that has significant impacts on and can affect the organization’s ability to operate and serve its customer (Chaffey et al‚ 2009). This is influenced by the need of customers and how services are provided to them through the competitors‚ marketing intermediaries‚ and suppliers within the marketplace (Chaffey et al‚ 2009). 1. Customer Airasia provides to its customers the basic flight carrier
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Microeconomics study guide Chapter 6 Notes: Firms and Production A firm converts inputs into outputs What firms want: 1. Profit : π = R - C 2. efficient production to maximize π -efficient production alone is not sufficient to ensure a firm’s π is maximized How they are organized 1. information exchange 2. incentives for workers Production Function q = f(L‚K) relationship b/w quantities of inputs used & max quantity of output that can be produced given current knowledge about
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Section A a. Explain the concept of dominant strategy equilibrium. 1. http://tuvalu.santafe.edu/~jkchoi/game4.pdf 2. http://econweb.umd.edu/~borowitz/dominant_strategy_equilibrium.pdf b. Discuss the concept of Nash equilibrium. 1.http://www.economics.utoronto.ca/osborne/igt/nash.pdf 2. http://www.columbia.edu/~rs328/NashEquilibrium.pdf c. Is every dominant strategy equilibrium a Nash equilibrium? 1. http://economics.fundamentalfinance.com/game-theory/nash-equilibrium
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1.1 OVERVIEW: Trade Related Aspects of Intellectual property Rights was put into effect in the developed countries since Jan 1996. And it will be implemented in Less Developed Countries starting from Jan 2006. Egypt is preparing its pharmaceutical industry for such agreement. A sense of optimism is expressed in the rich North. While a sense of pessimism is expressed in the poor South. Research and Development companies feel quite secure. Reverse Engineering companies (producing imitated products)
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of the pharmaceutical market creates a conflict between the competing interests of the patients and the pharmaceutical industry where the increasing market expansion and profitability of the industry is happening at the cost of patients’ ability to receive the most appropriate and effective treatment. The interests of the Pharmaceutical industry outcompeted the interests of patients and public health providers by the increased integration and resulting influence of the pharmaceutical industry in all
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INDIAN PHARMACEUTICAL INDUSTRY: A VISION WITH ITS STRENGTH AND WEAKNESS Dr. A. SELVARAJ* ABSTRACT The future of Indian pharmaceutical sector looks extremely positive. Indian pharma companies are vying for the branded generic drug space to register their global presence. Several Indian pharmaceutical companies have acquired companies in the US and Europe and many others are raising funds to do so. The Indian Pharmaceutical industry
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MICROECONOMICS CHAPTER 1 The Market Economy What is to be done? —Lenin When future historians look back on the close of the 20th century‚ one of the most sweeping changes they will note is the collapse of centrally planned economies in Eastern Europe. It is not far off to say that the Cold War between the United States and the Soviet Union was won not by the armies of the United States and its allies‚ but by the productive power of Western market economies. Mikhail Gorbachev‚ then leader of the Soviet
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Recently a few new industries have also been established with hi-tech equipment and professionals which will enhance the strength of this sector. Having more than a couple of hundred manufacturing facilities with huge potential in pharmaceutical formulations‚ Bangladesh is treading on a new path of industry economics for self-reliance. With a view to minimizing the import dependency on basic drugs‚ the country is building up its own capability in the manufacturing of active pharmaceutical ingredients(APIs)
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The Global Pharmaceutical Industry: Swallowing a Bitter Pill The case describes the evolution of the pharmaceutical industry and its strategic environment. Attention is drawn to environmental pressures from regulators and payers. Key forces driving the industry are discussed‚ including addressing unmet medical needs‚ the importance of innovation and time to market‚ and globalisation. The case illustrates how an increasingly hostile environment‚ combined with a decline in R&D productivity‚ led
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The notion of “fairness” is often the justification given for the government intervention in the market. Do you agree or disagree. 1.0 Introduction Fairness in the market can be defined as the equally distribution in the proportion of economic pie to every party. In the past‚ the economic prosperity is not uniformly allocated among the members of society. The wealthier will have a larger proportion of the economic pie whereas the poorer parties will only occupy a smaller part of the economic
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