individual customer’s needs. Customers who visit the downtown offices of Comfy Shoes in Philadelphia can choose one or more of the following four custom-tailoring services. Customers receive their shoes in the mail within a week of their initial visit. Service Description Time Resource used A. Walking Basics Take measurements for basic walking shoes. 12 min. 1 attendant B. Walking Plus Choose specific design (e.g. material‚ color selection) 12 min. 1 attendant C. Running Basics Take measurements
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Biochemical Oxygen Demand (BOD) Biochemical Oxygen Demand‚ BOD‚ as it is commonly abbreviated‚ is one of the most important and useful parameters (measured characteristics) indicating the organic strength of a wastewater. BOD measurement permits an estimate of the waste strength in terms of the amount of dissolved oxygen required to break down the wastewater. The specifics of the analysis are discussed in detail in Standard Methods for the Examination of Water and Wastewater. The BOD test is
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the same processes that are at work today were at work in the past. Summarized by “The present is the key to the past.” Hutton recognized that time is the critical element to the formation of common geologic structures. Uniformitarianism is a basic foundation of modern geology. Although catastrophism was abandoned‚ there is certainly evidence that sudden events do occur. From space‚ Earth looks small‚ finite and fragile. What’s the first thing that you notice about our planet when
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topic II. Price elasticity of demand A. Define B. Example III. Price discrimination A. Define B. Example IV. Effect A. Who/how benefits B. Revenue V. Conclusion A. How B. Closing attention getter Price Elasticity of Demand and Price Discrimination Buy one get one half off and 10% off are just two of the more common offers I come across as a student. They may not seem like much‚ but for some people saving just one dollar can mean the difference between making the purchase and
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the price for which are determined by both the supply and demand for them. ‘A market uses prices to reconcile decisions about consumption and production’.¹ The supply/demand model helps to explain how the market works and gives a greater understanding of actual market behaviour. Therefore‚ analysis of this concept can be used to develop economic and business decisions and policies. The purpose of this assignment is to outline the basic elements of the model and discuss its usefulness in understanding
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BASIC ECONOMIC PROBLEM Scarcity is one of the most basic economic problem that we faced. Why we run into scarcity because we are in a society with unlimited wants‚ but limited resources. Therefore‚ we have to choose‚ to make trade-offs. We have to efficiently allocate resources‚ and we have to do those things because resources are limited and cannot meet our own unlimited demands. Choice and opportunity cost are two basic concepts in economics. Because of scarcity‚ consumers‚ businesses and governments
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means‚ we have to take a look at what makes us feel this emotion. To me‚ it would appear that it could be anything. It could be a certain activity you enjoy‚ or a memory of some event in your life‚ or maybe even a specific person can be all the difference in your life. Anything can make you feel happiness. So it still doesn’t tell us why. Knowing what makes us happy puts us at least a little bit closer to knowing why‚ and what happiness really means. What does happiness feel like? “Happy” is just
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The price elasticity of demand (PED) is “a measure of how much the quantity demanded of a good responds to a change in price of the good” (Mankiw 2007‚ p.90). It is a form of measure to determine how willing consumers are to move away from the good as the price of the good rises. Most of the time‚ there are factors that determines the PED‚ such as availability of close substitutes‚ necessities versus luxuries‚ definition of the market and time horizon. In order to calculate the PED‚ a formula is
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“The nature of the demand for industrial products or services is different compared with consumer products and poses unique challenges”. Do you agree or disagree with the statement? Support your position with reference to an example of a company chosen from one of the following industries – automotive‚ telecommunications‚ information technology (computing)‚ fast moving consumer goods and medical equipment. The nature of business to business marketing differs in many areas with business to consumer
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Basic Skills Test While growing up we have ideas about what we want to do with our life when we graduate from high school. These decisions include: going to college‚ picking a major‚ and figuring out where you want to go after college. I wanted to go to Western Illinois University and declare a major in the elementary education program because Western Illinois has a good teacher education program. I always wanted to become a teacher since I was a little girl‚ because my first grade teacher has
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