Microeconomics Essays

Price – the amount of money which costumer pays for product or service to in order to achieve them, or the sum of values that one party exchanges with another to have or use products or services. The main factors which determine price are demand and supply. Demand is a desire of customers to own […]

Utility is the capacity of goods and services to meet consumers’ needs. This can be classified as cardinal utility and ordinal utility. Cardinal utility theory focuses on the magnitude of utility and the significance of the difference in utility between sets of goods. Ordinal utility theory, meanwhile, explains consumer preferences in terms of consumer behaviour. […]

The communication industry is currently under immense pressure from market being saturated and lower barrier to entries as more and more competitors enter the market. Products are difficult to distinguish between rivals and deregulation policies add to the diffusion of the market. That is why it is seen that new alliances being formed that forge […]

The development of new services with consumer appeal has resulted from the innovations and technological improvements of MMORPGs. The emergence of MMORPGs and major advances in communications have made it possible to widen and link markets. As regulation has decreased and cross-national linkages have increased, MMORPG markets have become more international according to Shields (2003). […]

Through this paper the authors Dhananjay Gode and Shyam Sunder try to understand the effect of various elements such as institutional structure, market environment, and agent behaviour which effect the performance of an economy on the allocative efficiency of a double auction. Through their experiment they prove that a double auction, a non-Walrasian market mechanism, […]

WatchMe is company established to cater to needs of the modern people’s need for a hip and modernized watch with superior quality, unique price and affordable price. The company aims to be the brand synonymous with words quality and style with an urban flair in the world of watches.Our products are the best and will […]

Online printing presents an appealing prospect by offering a viable solution to the expensive and time-consuming nature of contemporary living. It not only saves valuable time and minimizes technical impact but also caters to customers through flexible options such as bulk printing services and bespoke 24-hour printing solutions that enable them to optimize their business […]

Situated in Atlantis, Goodlife is responsible for managing 2000 apartments. As the only property management company operating in a monopoly market in Atlantis, they endeavor to maintain equilibrium in the two-bedroom rental market. Both Susan Hearst and Hal Morgan make up the management team who maintain the balance by ensuring minimum or no vacancies, setting […]

After reading “The Story of Foreign Trade and Exchange” I began to think about my company and the manufactures that we acquire our items from. We normally receive items from a company in the United States because they are local and the shipping is not as expensive. However, on occasion we import from a Honduran […]

Introduction Mergers and acquisitions are on the rise globally. Although these business transactions were initially prevalent in the United States, their popularity is now expanding to other regions. Today, mergers and acquisitions are vital in the corporate world. This study evaluates the effectiveness of mergers and acquisitions conducted globally by various industries and businesses. It […]

The travel and tourism industry has placed Hilton at its forefront, with the hotel claiming to be the best in the industry. As a corporation, Hilton operates in 80 countries through the acquisition of various chain hotels. They boast of being one of the top entities in the corporate travel and conference market and aim […]

The airline industry is a multimillion dollar business which forms one of the major contributors of the economic growth of most developed countries. Additionally the industry is tightly linked with the tourism industry which provides for a major source for foreign exchange coming into any country. According to industry reports the air travel has been […]

As per Deardoff’s Glossary of International Economics Website, a supply chain pertains to a sequence of significant procedures that convert raw materials into completed products. The mentioned stages consist of raw material processing, manufacture, utilization of intermediate inputs, final assembly, and distribution. These steps can be conducted by different firms in diverse locations. According to […]

For WPP, China meets all the criteria, which are considered important with an objective of deriving sustainable competitive advantage. From short-term point of view, 2008 Olympic games present a great opportunity to companies to showcase their brands and create an association of their brands with Chinese masses. WPP can rake in big money during these […]

As firms grow larger, they often need to engage in numerous activities, which necessitates the use of agents to reduce costs. Agents act on behalf of the principal and facilitate contracts with third parties. In all countries, laws exist to regulate the relationships between agents, principals, and third parties. However, agents have been known to […]

Supply and demand is one of the most fundamental concepts of economics and it is the backbone of a market economy. A market is a place where buyers and sellers converge to transact goods or services for profit. Demand refers to the quantity of a product or service as desired by buyers, and the quantity […]

The demand for a specific good is influenced by various factors such as price, income, tastes and preferences, and the prices of other goods. Changes in price result in movements along the demand curve. The relationship between price changes and quantity demanded is straightforward. If the price decreases, the quantity demanded increases, and if the […]

Product features and benefits describe the quality, the uses and necessity of the product and the product price. The quality and design of the product depends on the company’s innovativeness, financial support, technology and engineering processes and the time consideration with respect to production. The product is basically an answer or the solution to a […]

Economics is the foundation of all commercial activity and comprises two areas: microeconomics and macroeconomics. Macroeconomics is concerned with the big picture, for example, the national economy and gross domestic product. By contrast, microeconomics is concerned with the small picture and focuses on theories of supply and demand. Microeconomics is very important in business. Macroeconomics: […]

Understanding long-term relationships with both customer and other stakeholder groups has been neglected in the mainstream marketing literature (Christopher et al. , 233-543; Dwyer, Schurr and Oh, 1987; Ford, 89-98; Gronroos, 213-243; Gummesson, 181-221; Hatkansson, 1982; Morgan and Hunt, 213-243; Moller, 1992, 213-243; Parvatiyar and Sheth, 181-221; Sheth and Parvatiyar, 180-211). Managing the organization’s internal […]

Primeaux and Stieber discuss the ethical principles involved in economic profit maximization, examining how value is determined and what ethical implications arise when goods and services are valued based on economic profit maximization. Their discussion moves from production to distribution, focusing on external pricing and consumer demand. Profit maximization in economics involves determining the optimal […]

The ultimate goal of this report is to furnish Monkey Snacks with an all-inclusive summary of every chapter and segment, empowering them to make well-informed decisions. It’s imperative for the organization to obtain all the data presented in this document to overturn financial deterioration, enhance brand identity, sales figures, and revenue. Minus this final report, […]