Microeconomics Essays
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In marketing, developing product brand means that the product can be differentiated from other products of the same type. To improve product brand, researchers increase product efficacy while marketers work on advertising. When product efficacy and advertising are both successful, product brand is attained and the product typically achieves a price premium of about 30 […]
Asymmetry of information is said to occur when, in economic activities, some agents are better informed than others. For example, sellers of a particular product will know more about it’s quality than potential buyers, especially in the case of second hand goods. The existence of asymmetric information has important implications for the functioning of markets. […]
Threats and Opportunities that Existed Opportunities and threats are external factors that can affect a business. Opportunities refer to areas that the business can exploit, while threats encompass factors that negatively impact the performance of the business. Examples of threats include competition, changes in consumer behavior, pricing issues, government regulations, and technological advancements. Despite having […]
