The Problem of Rising Prices Price rise is a world phenomenon today and inflation is affecting every section (rich and poor) of society. About three decades ago we could purchase wheat at thirty rupees a quintal‚ but today we cannot get it at less than three hundred rupees a quintal in big cities. Everything was within the reach of man until a few years ago. Today there is no limit to the price rise of all kinds of items. Millions of people in the world have to go hungry. They have to work hard
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shows the price of aluminium over the past six years. It can be seen from Figure 1 that the price of aluminium has fluctuated a great deal during this period. For example: between July 2008 and February 2009 the price fell by 57%; in August 2009 alone the price rose by 16%. In an essay of 1500 words or fewer‚ use economic analysis to explain changes in the price of aluminium over the period shown in Figure 1 and why the price fluctuations have been so great. Figure 1: The monthly LME spot price for aluminium
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congruence throughout an organization. 13-4 An investment center is a responsibility-accounting center‚ the manager of which is held accountable not only for the investment center’s profit but also for the capital invested to earn that profit. Examples of investment centers include a division of a manufacturing company‚ a large geographical territory of a hotel chain‚ and a geographical territory consisting of several stores in a retail company. 13-5 [pic] 13-6 A division’s ROI can be
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The consumer price index or CPI is a more direct measure than per capita GDP of the standard of living in a country. It is based on the overall cost of a fixed basket of goods and services bought by a typical consumer‚ relative to price of the same basket in some base year. By including a broad range of thousands of goods and services with the fixed basket‚ the CPI can obtain an accurate estimate of the cost of living. It is important to remember that the CPI is not a dollar value like GDP‚ but instead
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Price and Value Agreement FIS 200 May 29‚ 2011 Is the value of something equal to the price tag placed on it? Is the value and worth of something the same for every person? This is something that many struggle with understanding properly. To fully understand this concept then you must understand the true difference between the value‚ price‚ and worth of something. I intend to explain these and provide you with a better understanding by the end of this paper. Have you ever went grocery
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Non-price Competition Non-price competition involves two major elements: product development and advertising. The major aims of product development are to produce a product that will sell well (i.e. one in high or potentially high demand) and that is different from rivals’ products (i.e. has a relatively inelastic demand due to lack of close substitutes). For shops or other firms providing a service‚ ‘product development’ takes the form of attempting to provide a service which is better than‚
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Tweeters price competitiveness From exhibit 13 in the case it is clear that Tweeter is price competitive in almost the entire range of items and models that it sells. In an objective model by model comparison (see appendix 1 for a sample comparison) Tweeter either matches or betters competitor ’s prices. Further more when you compare quality and level of service and price paid Tweeter is cheaper than the competition. However‚ the competitors run spot sales (not advertised) and advertised sales
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or seller will a. have a negligible impact on the market price. b. have little effect on market equilibrium quantity but will affect market equilibrium price. c. affect marginal revenue and average revenue but not price. d. adversely affect the profitability of more than one firm in the market. Table 14-1 Quantity Total Revenue 0 $0 1 $7 2 $14 3 $21 4 $28 2. Refer to Table 14-1. For a firm operating in a competitive market‚ the price is a. $0. b. $7. c. $14. d. $21. 3. Suppose that a firm
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Price elasticity of demand Marija managed to explain perfectly what is the price elasticity and what are the factors that affect it: availability of substitutes and time. In overall‚ it is a very scholastic presentation since Marija gives in detail how the demand of goods is changing according to the availability of substitutes‚ the fluctuation of the price of goods‚ and what impact they have on the consumers if all the other factors are being stable. Though‚ there is a point of which I would add
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contribute to rising gasoline prices. The major cause for increasing gasoline prices has to do with refining capacity. Even if oil were inexpensive‚ we would still have a problem converting it into the gas that fuels our economy. That is what keeps the gas prices high. When gas supplies are short‚ due to an “inability to refine crude oil into gas efficiently‚” prices increase. This is a component of supply and demand economics. In a positive aspect‚ rising gasoline prices do serve a purpose; they
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