Would an organization benefit from using direct or indirect price discrimination. Why or why not? Provide an example. Price discrimination is the practice of charging different prices from different customers for the same product. Yes, organization benefit from price discrimination. Read also Skimming Pricing Strategy In direct price discrimination, a monopolist gains maximum as he […]
Identify a personal economic decision that was driven by a behavioral bias rather than by pure rational behavior. Given your understanding of behavioral economics, how would your decision differ today? Rational decision making can be very beneficial in both the business and personal worlds and differs from the behavioral decision making processes in several ways. Business
Computer Management You are to select 1 business that does not already have a Web site, and develop an Internet strategy for it. Most large corporations already have Web sites, so you may have to think of something on a smaller scale such as a local bike store. Sole proprietorship businesses that provide services like
According to Coase’s theory of the firm, why do firms exist? How do firms contribute to the efficiency of the market economy in ways that ‘networks of independent contractors’ do not? How are the boundaries of the firm best established? According to Coase’s theorem, with no transaction costs, the industry structure is unrelated to efficiency
How does applying econometrics to economics validate economic decisions for an organization? Support your response with an example. Econometrics is the study of economic theory in its relations to mathematics and statistics. The essential premise is that economic theory lends itself to mathematical formulations, which includes random variables. Econometrics helps to estimate the relations that
How can sample data support or inform economic decision making within an organization? Can the sample data have errors or be problematic when making decisions? Provide an example. Sample data helps in supporting or informing economic decision making, by testing for the significance of economic policies and decisions with respect to the population.The use of
Aquatic therapy Therapists working in water are the top believers in aquatic benefit therapy. There are few special group populations that can be used for water exercise therapy program. They include: Polytraumatic patients This is a population which has been subjected to several traumatic injuries. Examples of such injuries include serious burn in addition to
Strategic Project Management Project management is a critical tool instrumental in the growth and development of an organization or a business. Projects are developed and executed with a purpose to implement change. A project without strategy is merely a collusion of efforts resulting into confusion in a given set up of management. Strategy as we
Sigmund Freud, although one of the best-known personality theorists, is probably also one of the most controversial in the field of psychology. When starting to consider theories of personality, one must begin with a look at Sigmund Freud, as he was one of the first theorists to develop a psychoanalytical theory that was based on
Through the eyes of a young Marjane Satrapi, the reader gets a fascinating look at the Islamic Revolution in Iran during the late 1970s and the early 1980s and the war with Iraq. The times are definitely tumultous and Marjane is certainly an inquisitive and precocious girl living through it. The juxataposition of the graphic