Microeconomics Monopolies Paper Monopolies Good or Bad A monopoly is a single company that owns all or nearly all of the markets for a type of product or service. A monopoly is at the opposite end of the market structure. It is where there is no competition for goods or services and a company can freely charge a price or prevent market competition. Monopolies have three built in assumptions‚ one seller‚ no substitutes or competition‚ and extremely high barriers to entry. Examples of monopolies
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Introduction: The classification of goods (physical products) is essential to business because it provides a basis for determining the strategies needed to move them through the marketing system. The two main forms of classifications are consumer goods and industrial goods. We are interested in this paper to elaborate more on Consumer Goods Classification only. Consumer Goods: Consumer goods are defined as goods that are bought from retail stores for personal‚ family‚ or household use.
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Of the characteristics common to good him Mike‚ what’s up listeners‚ which do you consider the most important in a customer service organization? 1.Patience A good customer service representative is able to remain patient. [ Often‚ customers will not have all the needed information to help address their problem‚ the problem may be a common one (when there is a manufacturing‚ or other service defect)‚ or the problem may even be the result of a customer’s own mistakes. In all of these cases‚ a little
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Good Customer Service Good customer service consists of good attitudes‚ being aware of customers‚ and knowing your job. First of all‚ one way to characterize good customer service is having a good attitude. For example: When I go into a business‚ someone should greet me in a good manner. Furthermore‚ if I need help‚ the employee should be more than willing to help with a smile on their face. The first step of good customer service is giving the customer immediate attention. Customers want the
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BUS 200 Week 7 Assignment Strayer University How eBay Stays Connected to Its Community 1. What macro-barriers and micro-barriers might hinder successful communication between Meg Whitman and eBay users? What do you suggest she do to address these potential barriers? A macro-barrier that might hinder communication could be the constant need to learn new concepts which cut down on the time available. A way to address this barrier would be to train your personnel at different times leaving
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REI REI is a sporting good company that specializes in quality outdoor gear. The company started in 1938 as a gear co-op‚ and has grown to include more than 3.5 million active members‚ which it serves through 30 stores‚ as well as catalog and Internet operations. REI has successfully built a competitive advantage through the four generic building blocks of efficiency‚ quality‚ innovation and customer responsiveness. REI has a distinct competitive advantage‚ relying on economy of scale to offer
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"luxury" is synonymous with "waste". And luxury goods in English is originated from Latin roots luxus‚ meaning is "strong reproductive capacity"‚ this kind of description also expresses the luxury of the characteristics of "too much and waste". But in the modern society‚ the meaning itself has completed the transformation from negative to neutral. At the book "luxury brand management‚" zhouyun‚ P.2010 gives a board definition to luxury goods‚ which is luxury goods as a hope‚ a dream. Because it is the hopes
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ECON 100A Public Goods and Coase theorem April 29-May 2 Part I Public Goods A good is a (pure) public good if once produced it meets two criteria: 1. Non-rival - A good is non-rival if consumption of additional units of the good involves zero social marginal costs of production. 2. Non-excludable - A good is non-excludable if it impossible‚ or very costly‚ to exclude individuals from benefiting from the good. Taking these two criteria we can categorize goods into four groups. Rival
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Private goods 1. A private good is a good or service which a person will be excluded from owning or using if they do not pay for it. If you do not pay for items like food‚ cars or clothes you will be excluded from using them. 2. Consumption is rival (or depletable)‚ and that they are excludable by price. If one person has the good or service‚ the benefits of it are not available to others‚ that is‚ it is rival or depletable. Individuals can only have the good or service if they pay for it‚ that
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Two categories of public goods are non-rival consumption goods and non-excludable goods. Discuss the similarities and differences between these two types of goods. If a good is non-rival in consumption‚ does that mean that it is also non-excludable? If a good is non-excludable‚ does that mean it is non-rival in consumption? Why might the market produce non-rival goods inefficiently? Why might the market produce non-excludable goods inefficiently? Answer: Public Goods have two characteristics-
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