In economics a rational consumer is defined as the people who act in a rational way and make rational choices‚ namely spending their money wisely. Utility is a term used to measure the amount of pleasure a consumer gains from a good or service they choose to invest in‚ thus spending our money wisely‚ in economic terms is a method of maximizing our own utility. However in today’s world different societies and individuals have failed to distinguish the different between a want and a need‚ which
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Rising prices Rising Prices is becoming an acute problem these days. One has to live from hand to mouth. It has made difficult for everyone to meet both ends. It has forced people to live a miserable life. Necessities are being sold at a great price. The hardest hit is the common man‚ that is‚ the average consumers and the below average consumers or we can say the middle class people and the poor people. Due to price rise‚ the purchase of essential commodities like pulses‚ rice‚ sugar or medicines
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PRICE HIKE To understand this term we divide this term into two parts; Price and Hike and explain both the parts separately. Price is the value paid by the provider or supplier in the form of currency for rendering goods & services. While Hike is an abrupt increase or rise. It means that there is rise in prices of the goods/services required by the people living in the world. These goods/services belong to following sectors; 1. Agriculture 2. Health and Medicine 3. Education 4. Manufacturing/Industries
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1. Explain a person’s attitude towards visiting Disneyland in Hong Kong in terms of the tri-component model. A tri-component attitude model consists of three major components as affect‚ cognition and conation. It is implying that Disneyland in Hong Kong has the unique attraction towards the customer. The first part of this model refers to cognition that is knowledge and perception that are acquired by a combination of the attitude object and related information from different sources. With reference
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daily basis. Our blood glucose levels are affected by the glycemic index ranked in foods. Foods high in carbohydrates are measured by how much it raises our blood glucose levels after being consumed. The glycemic index focuses on the quality‚ not quantity of the carbohydrates. Why is the glycemic index important‚ how is it measured‚ and what factors can alter the glycemic index of foods? Let’s take a closer look into the glycemic index and find out why we should become more aware of this topic when
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Key Success Factors in the Low Cost Airline Business: Low cost airlines strive to meet the basic demand of airline customers - a safe air transport from one location to another location - at a relatively low price. In order to be successful‚ they have to carry out their business from a certain value-based perspective - “less for much less” – and concentrate their attention on the following Key Success Factors of their industry: - Overall low costs: Overall low costs are essential to be able
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Living Wills Imagine yourself lying in a hospital bed oblivious to the world around you‚ unable to move or show any signs of life. Your own existence controlled by an I.V.‚ a respiratory machine‚ and a feeding tube. In essence‚ you are dead. Your body is no longer able to sustain life. Your life’s entire purpose is now replaced by a machine. You are being kept alive by artificial means. At this point‚ the question arises: Should you be kept alive by these means or should you be allowed to
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INTRODUCTION India is a developing country. This means that majority of the population belong to the working class. They have to struggle to make both the ends meet. In their struggle for daily living‚ they loose sight of the individual development‚ productivity‚ selfactualization etc. There are certain special characteristics with regard to the Indian labourer‚ such as coming from villages to city in search of work‚ being away from loved ones‚ having to accept work at poor working
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Price discrimination Price discrimination is the practice of charging a different price for the same good or service. There are three of types of price discrimination – first-degree‚ second-degree‚ and third-degree price discrimination. First degree First-degree discrimination‚ alternatively known as perfect price discrimination‚ occurs when a firm charges a different price for every unit consumed. The firm is able to charge the maximum possible price for each unit which enables the firm to
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Resiliency is considered to be an important factor for children. List three factors that are known to promote resiliency in children‚ and explain why these factors are important to a child’s development. 1) Parents and guardians showing their children or child love and support. Being supportive of a child’s dream or goal helps as well‚ but only sincere and genuinely forms or support because children can see right through the fake which hurts the child or children. 2) Promoting self love - Okay
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