The document discusses several economic concepts related to pricing, including supply and demand, elasticity of demand, costs, and market equilibrium. It defines key terms and explores the relationship between price and quantity demanded, as well as how costs like fixed, variable, and incremental costs impact pricing decisions. Economies of scale, scope, and outsourcing are also covered in the context of how they can lower production costs.
Key Term Glossary for AS Micro (2015 Edition)tutor2u
This is our review key term glossary for Unit (AS) microeconomics. It covers the vast majority of the key concepts tested by all of the major exam boards.
Key Term Glossary for AS Micro (2015 Edition)tutor2u
This is our review key term glossary for Unit (AS) microeconomics. It covers the vast majority of the key concepts tested by all of the major exam boards.
Students should be able to:
Understand and distinguish between productive and allocative efficiency
Know that the minimum point on the average total cost is the most productively efficient point and that allocative efficiency occurs where price is equal to marginal cost
Understand the meaning of inefficiency e.g. X-inefficiency
Individual supply is the supply of an individual producer at each price. Market supply is the sum of the individual supply schedules of all producers in the industry
Students should be able to:
Understand and distinguish between productive and allocative efficiency
Know that the minimum point on the average total cost is the most productively efficient point and that allocative efficiency occurs where price is equal to marginal cost
Understand the meaning of inefficiency e.g. X-inefficiency
Individual supply is the supply of an individual producer at each price. Market supply is the sum of the individual supply schedules of all producers in the industry
Dr Paul Bowyer - Aspergillosis Study Day May 1st 2012Graham Atherton
Dr Paul Bowyer is the Principle Scientist at the National Aspergillosis Centre. This talk was given to a group of professionals allied to medicine who are attending an education & awareness day at the Centre.
Dr Bowyer summarises our current understanding of the pathogenic processes that lead to an aspergillus infection.
Elytroderma deformans (BC code "DFE") impacts on older plantation pine in the Interior Douglas-fir biogeoclimatic subzone (IDFdk3) are significant and reducing growth on the trees in older plantations that survived the Mountain Pine Beetle epidemic. These stands are a critical part of the mid term timber supply in the wake of the IBM epidemic.
Presentation done* at the 13th International Semantic Web Conference (ISWC) in which we approach a compressed format to represent RDF Data Streams. See the original article at: http://dataweb.infor.uva.es/wp-content/uploads/2014/07/iswc14.pdf
* Presented by Alejandro Llaves (http://www.slideshare.net/allaves)
The steady rise of new technologies, especially in the area of mobile assisted language learning, has created new opportunities as well as challenges for foreign language learning. Since learners have more and more access to a wide range of devices and learning resources, teachers are challenged to explore the potential and benefits of these to support their students’ learning. In the last two decades there have been many attempts to integrate all kinds of mobile devices and apps to support formal as well as informal learning processes. However, most of the available apps still support mainly individual learning, using mobile devices to deliver content rather than providing learners with the opportunity to interact amongst each other.
To address this we have designed an app, based on a highly interactive, ubiquitous and constructive learning approach. The app is called Guess it! Language Trainer and allows learners to share, assess and co-construct their foreign language knowledge. Learning contents are no longer delivered but integrated into versatile tasks which although individually performed, affect the community of learners. The current research paper presents the first results of an ongoing project using the Guess it! Language Trainer app in a compulsory German language course at a Spanish University. In our paper we will firstly describe how the app has been used to support students’ language learning outside the classroom, secondly, how it helped learners to get actively involved in their own learning processes and thirdly, how the teacher can use the information stored in the system to assess students’ language learning.
Phyllis Robinson's Speech to the 1959 AAAA Annual MeetingDan Ng
In the same year that DDB created 'Think Small' for Volkswagen, its copy chief, Phyllis Robinson gave this speech, effectively reading the manifesto for the coming Creative Revolution on Madison Avenue. Little things we take for granted - like art directors and copywriters working together - are part of the speech.
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
or
Call us at : 08263069601
Social Science IssuesSometimes it is helpful to get an outside p.docxwhitneyleman54422
Social Science Issues
Sometimes it is helpful to get an outside perspective. In your discussion post, describe your selected social science issue and include two relevant questions that social science professionals (psychologists, sociologists, or anthropologists) might be interested in. Then look for your classmates to post their own social science issues and related questions.
Economics Terminology
Review Flashcards
Review the terms below then practice using the flashcards tab.
Adverse Selection
A situation often resulting from asymmetric information
in which individuals are able to purchase insurance at
rates that are below actuarially fair rates plus loading
costs.
Asymmetric Information
Situations in which the parties on the opposite sides of a
transaction have differing amounts of relevant
information.
Average Cost
Total cost represents the sum of all fixed costs and
variable costs in the long run. Average cost equals total
cost divided by the quantity of the output and also equals
the sum of average variable cost (AVC) and average fixed
cost (AFC). In the long run, average total represents the
minimum possible cost per unit of producing any given
level of output when there are no fixed costs.
Capitation
A method of reimbursement in managed care plans in
which a provider is paid a fixed amount per person over a
given period regardless of the amount of services
rendered.
Cardinal Utility
A quantitative measure of the value of a good in terms of
metrically measurable utility. It is used in the study of risk
and insurance.
Case Mix Index
A numerical measure of the assortment of patient cases
treated by a given hospital so that a higher value
indicates a greater average degree of complexity of the
cases.
Ceteris Paribus
Other things being held constant.
Coefficient of Variation
A measure of dispersion equal to the standard deviation
divided by the mean (and sometimes multiplied by 100).
Concentration Ratio
The share of the market sales or production accounted
for by a certain number of the largest firms. Often the
four firm ratio is used.
Consumer Driven Health Plan (CDHP)
Page 1 of 5Economics Terminology
1/11/2018http://media.capella.edu/CourseMedia/PubH5112/FlashCards/PubH5112_FlashCards_Out...
A high deductible health plan coupled with a tax-
advantaged health spending account (HSA or HRA).
Consumers are provided with information and tools to
help with health care service and financing decisions.
Cost Benefit Analysis (CBA)
A method of comparing the monetary value of all benefits
of a social project with all costs of that project.
Demand Function
The relationship between quantity demanded and price
(and other independent variables such as income and
tastes). One could study individual demand as well as
market demand.
Depreciation
The change in the value of a good over time due to
deteriorating physical characteristics or technical
obsolescence.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
Recruiting in the Digital Age: A Social Media MasterclassLuanWise
In this masterclass, presented at the Global HR Summit on 5th June 2024, Luan Wise explored the essential features of social media platforms that support talent acquisition, including LinkedIn, Facebook, Instagram, X (formerly Twitter) and TikTok.
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
At Techbox Square, in Singapore, we're not just creative web designers and developers, we're the driving force behind your brand identity. Contact us today.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
PayPal Services Features-
🟢 Email Access
🟢 Bank Added
🟢 Card Verified
🟢 Full SSN Provided
🟢 Phone Number Access
🟢 Driving License Copy
🟢 Fasted Delivery
Client Satisfaction is Our First priority. Our services is very appropriate to buy. We assume that the first-rate way to purchase our offerings is to order on the website. If you have any worry in our cooperation usually You can order us on Skype or Telegram.
24/7 Hours Reply/Please Contact
usawebmarketEmail: support@usawebmarket.com
Skype: usawebmarket
Telegram: @usawebmarket
WhatsApp: +1(218) 203-5951
USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
7. This relationship is inverse or indirect because as price gets higher, people want less of a particular product. It has given it a special name: the law of demand. There are various ways to express the relationship between price and the quantity that people will buy. Mathematically, one can say that quantity demanded is a function of price, with other factors held constant, or: Qd = f(Price, other factors held constant) Inverse relationship with price
9. Elasticity of Demand Responsiveness of the demand for a good or service to the increase or decrease in its price. Normally, sales increase with drop in prices and decrease with rise in prices. As a general rule, appliances, cars, confectionary and other non-essentials show elasticity of demand whereas most necessities (food, medicine, basic clothing) show inelasticity of demand.
10. Formula for Elasticity of Demand Relative change(%) in quantity demanded Ed= Relative change in price (%) %Q Ed= %P
11. Supply A fundamental economic concept that describes the total amount of a specific good or service that is available to consumers. This relates closely to the demand for a good or service at a specific price; all else being equal, the supply provided by producers will rise if the price rises because all firms look to maximize profits.
13. Pricing in Market-oriented Economy A market oriented economy can be defined as an economy where the market plays the “invisible hand” (Adam Smith-Wealth of Nations, 1776) in producing and distributing resources efficiently in a system. It brings about the highest levels of productive efficiency. The essential feature of the market economy is the decision of the market to determine what to produce, for whom to produce and there is a private ownership over the means of production. Production and consumption decisions are taken according to the forces of the market; namely demand and supply.
15. Impact of costs on pricing Company take pricing decisions based on global completion and cost effective way so that the company will obtain its marketing objectives. The cost of producing product and service are high, then the price of particular product and Service will be high. Because of competitive environments, business organizational structures, and market response have changed dramatically, therefore the pricing decisions of the company are more complex and dynamic.
16. Cost structure pricing Cost structures are simply the identification of how costs associated with the production of a good or service is distributed throughout the process. This can include costs such as labor and utilities, as well as back end costs like sales and marketing expenses.
17. Allocation of costs Cost allocation is the assigning of a common cost to several cost objects. For example, a company might allocate or assign the cost of an expensive computer system to the three main areas of the company that use the system. Some people describe the allocation as the spreading of cost, because of the arbitrary nature of the allocation. The goal is to allocate or assign the costs based on the root causes of the common costs instead of merely spreading the costs.
18. Forecasting costs A financial forecast is normally an estimate of future financial outcomes for company or country (for futures and currency markets). Using historical internal accounting and sales data, in addition to external market and economic indicators, a financial forecast is an economist's best guess of what will happen to a company in financial terms over a given time period -- which is usually one year.
20. Cost concepts Costs are the total spent for goods or services including money and time and labor. In business, retail, and accounting, a cost is the value of money that has been used up to produce something, and hence is not available for use anymore. In economics, a cost is an alternative that is given up as a result of a decision.
21. Fixed costs & Variable costs Fixed costs Costs that do not vary with production or sales level. For example- a company must pay each month’s bills for rent, heat, interest and executive salaries, whatever the company’s output. Variable costs Costs that vary directly with the level of production. An example is the materials and components that enter into each unit produced.
22. Incremental costs This is an increase in either fixed costs or variable costs as a result of a managerial decision to change an existing policy or to add a new piece of equipment or installed a new programmed. Incremental costs also called managerial costs.
26. Economies of Scope An economic theory stating that the average total cost of production decreases as a result of increasing the number of different goods produced. For example, McDonalds can produce both hamburgers and French fries at a lower average cost than what it would cost two separate firms to produce the same goods. This is because McDonalds hamburgers and French fries share the use of food storage, preparation facilities, and so forth during production.
27. Core Linkages The relationship between activities where the way one is performed materially impacts the cost of performing the other. For example, the purchase of a higher-quality processed material may reduce both processing time and scrap to the extent that overall total costs are reduced.
28. Out sourcing and Balancing Outsourcing is contracting with another company or person to do a particular function. A variation of outsourcing is the shifting of the inventory management function to suppliers. Instead , of reacting to purchase orders, suppliers make shipments based on demand information supplied them by their customer. For example, Wal- Mart no longer has the responsibility to manage its own inventory. Instead, suppliers such as Procter & Gamble ship on the basis of information supplied to them of their product