Provide a concise description of how a free market system answers the questions of what to produce, how to produce, and for whom. Be sure to include information on the role of prices in allocating resources in this system

16. In terms of persuasion in class we discussed two messaging characteristics that work the best. One of them is?

a. Wealth

b. Success

c. Attraction

d. Notoriety

e. Compassion

17. The “Feel- Do- Think” approach is an example of what type of decision making?

a. Habitual

b. Hedonic

c. Experiential

d. Low hierarchy

e. Standard attitude ranging

18. If I funnel a need for security into purchasing an ice cream, this is known as a?

a. Trait

b. Consumption Motive

c. Mastery over my environment

d. Motivation

e. None of the above

19. Effective storytelling is central to what marketing concept?

a. Perception

b. Watermarking

c. Brand Personality

d. Crescive Norm

e. None of the above

20. As discussed in class, George Foreman has become one of the most successful product pitchmen in history. The reason for this is the strong connection the consumer feels with him, based on?

a. Wealth

b. Notoriety

c. Intelligence

d. Power

e. None of the above

21. If I buy Heinz soup brand because my mother always bought it, this is known as ?

a. Market Belief

b. Consumer Inertia

c. Rule of Thumb

d. Product Signal

e. None of the above

A colleague tells you that he can get a business loan from the bank, but the rates seem very high for what your colleague considers a low risk loan.

• Give an adverse selection explanation for this, and offer advice to your friend on how to solve the problem.

•Give a moral hazard explanation for this, and offer advice to your friend on how to solve the problem.

The requirements for a valid offer and a valid acceptance in a bilateral agreement.

Part I)

a)Discuss the strategy of market penetration. As a marketing manager howand whywould you use such a strategy. (remember to explain using examples)

b)The Covid-19 crisis (Corona virus) has ledmany businesses small or big to rethink the way they do business while the population is under quarantine. Pick any businesssmall or bigand discuss howyou would adjust its four Ps (price, promotion, place, and product).

Part II)

Please read Henkel’s Persil: A “Glocal” Marketing Successwhich is attached and then answer the following questions:

1.How would you describe Henkel’s approach to market segmentation?

2.As with most marketers, Henkel uses a combinationof different segmentation variables. Discuss how the company might draw upon geographic, demographic, psychographic, and behavioral variables in determining its market structure. provide examples of each type.

3.Which variables appear to be most important to Henkel in targeting its customers. Look at its expansion plan. What variables will play into its expansion?4.Look at the range of Henkel’s detergent brands.Are there any downsides to having a more limited range of offerings? Speculate on the reasoning behind the range.

1.when banks make loans, they create money T/F

2.Assets such as houses and cars usually viewed as more liquid than stocks and bonds T/F

3.When you compare the prices of two goods, you are using as a medium of exchange T/F

4.the money people deposit into their saving account is considered to be less liquid than the money people deposit into their checking accounts T/F

5.if the Fed wants interest rates to fall they will buy U.S. government buy T/F

6.consider the cash people carry in their wallets. this cash is part of the M1 money supply but not part of the M2 money supply T/F

7.consider the T-ccount for Bank 1 when customer deposit funds into their checking accounts, there is an increase in Bank1's assets and a decrease in its liabilities. T/F

8.if banks decide to hold a larger % of deposit on reserve then the money multiplier will increase T/F

9.All else the same, it banks choose to hold fewer excess reserves the money supply will fall T/F

10.when the Fed sells U.S government bonds, it has conducted open market sales and the money supply can be expected to rise T/F

11.If the Fed wants to increase the money supply they will buy U.S government bonds. T/F

12.All interest rate in the economy are set by Federal reserve T/F

Explain in detail

a) What are the impacts of immigrants on international trade on high tech Industries. Explain how the immigrants have impacted the mentioned country's national & international trade in United States of America

b) What are the comparative or absolute advantages that a migrant can have on the basis of general trading skills or specific trading skills in United State of America.

c) Suggest some recommendations with proper explanations that should be considered on the immigrant policies that could benefit both the immigrants as well as the countries who take up immigrants for their country's development.

how fiscal policy such as changing government expenditure may close recessionary gap/ inflationary gap.

(150 words-300)

What is the link between institution and development? Explain practical evidences (considering any case studies you are familiar) that show the direct link between these two?

1. Briefly explain the difference between production efficiency and allocative efficiency. Define production possibilities frontier in your answer.

2. Define the law of demand and discuss the different factors/rationales that drive the relationship between price and quantity demanded. Also discuss the difference between quantity demanded and demand.

3. Define the law of supply. Interpret what a single point on the supply curve means. Explain why the supply function has quantity on the left hand side and why the when you plot the supply curve price is on the y-axis.

Should the market system be allowed to solve the problem itself and why?

Arguments in Favor of Trade Restrictions (Barriers)

Read the news article packet about different arguments in favor of trade restrictions (barriers) and pp. 139-145 in the Carbaugh 16th ed. textbook.

1. What is meant by the term, "infant industry"?

2. Based on the news articles/political cartoons and the textbook, list examples of specific countries and industries considered to be an "infant industry" in a particular country.

3. Based on the news articles/political cartoons and the textbook, list examples of situations which have generated discussion of the need/desire to protect worker wages and/or jobs.

4. What is meant by the phrase, "level playing field" in the context of international trade?

5. Based on the news articles/political cartoons and the textbook, list examples of specific countries and industries concerned about an unlevel playing field in the context of international trade.

6. Why did the U.S. impose a trade embargo against Cuba? How does the data posted by the U.S. Census Bureau corroborate that there was an effective trade embargo? How does the EU apparently view Cuba now?

7. Why have trade sanctions been imposed on North Korea and Iran?

8. Pick one of the political cartoons. Knowing you're taking this course, pretend your mom asks you to explain it to her. Briefly discuss.