ESSAY: Will raising the minimum wage be practical?Why/why not?

Somethings to touch on.

Will increasing the minimum wage help or hurt employees?

Will increasing the minimum wage help or hurt businesses?

What problems might be caused by raising base pay?

What are the benefits of an increased base pay?

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In the market for medications, there is a difference in demand for medications that are under patent, medications that have a strong name brand, and medications that are generics. Discuss the differences in demand for these three different types of medications. Be sure to discuss these differences using the concepts of price elasticity of demand, cross price elasticity of demand and income elasticity of demand.

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Identify some of the indicators that describe the labor market and discuss the impact of fluctuations in the indicators to the labor market.

1) What are the links between industry structure and profitability?
2) How is industry structure utilized for understanding the dynamics of competition?
3) How do you assess (determine) the power of suppliers and buyers?
4) What are the measures of competitive success?
5) How are competitive advantages and the activities in a company’s value chain related?
6) What are the activity choices that reflect the distinct customer segment chosen by each company?
7) What is strategy in terms of activities and value?
8) What is switching costs and how does it relate to substitution?

How did Prohibition act as a catalyst for the development of organized crime in the United States? Do you think that the decriminalization/legalization of drugs, prostitution, pornography and the like would reduce the impact of OC in our country today? Explain your answer.

How does the criminality of organized crime differ from that of conventional criminals and terrorists? Give examples in your answers.

Commonly used measures of globalisation of markets and production are the following ratios: World Exports/world GDP and World Inward FDI/World Gross Capital Formulation. There are also other measures to consider such as university students, patents, venture capital, internet traffic, equity investments, news media, bank deposits and many more which are expressed as a percentage of world totals. Identify six different countries: two from the Southern African Development Community (SADC), two from the East African Community (EAC), and two from the Common Market for Eastern and Southern Africa (COMESA), and use globalisation measures to analyse the most globalised of the six countries in the three economic trade regions. Use the analysis to write an expository essay that illustrates the extent to which the six countries are globalised

1) If a company wants to implement an enterprise application, it had better do its homework. Discuss 3 implications of this statement with examples.

2) Many colleges and universities use Banner, a higher education software ERP system. Describe the ERP system at your university. How does your school's ERP compare to others, give 2 comparisons to other systems from Web searches? What are the challenges of implementing the ERP system?

If the Fed wants to increase aggregate demand, it can increase the money supply. If it does this, what happens to the interest rate and rate of inflation? Why might the Fed choose not to respond in this way?

Should monetary policy be made by rule rather than by discretion? Why?

The only thing backing up a nation’s currency (fiat money) in the modern world is faith in the government issuing it. If this is so, what should governments do to maintain a stable currency? How can the Central Bank (the Federal Reserve) build trust in the U.S. currency? What actions would undermine a currency?

Japan and Germany are two success stories of economic growth. Although today they are economic superpowers, in 1945 the economies of both countries were in shambles. World

War II had destroyed much of their capital stocks. In the decades after the war, however, these two countries experienced some of the most rapid growth rates on record. Between

1948 and 1972, output per person grew at 8.2 percent per year in Japan and 5.7 percent per year in Germany, compared to only 2.2 percent per year in the United States. Are the

postwar experiences of Japan and Germany so surprising from the standpoint of the Solow growth model? Consider an economy in steady state. Now suppose that a war

destroys some of the capital stock. (That is, suppose the capital stock drops from k* to k1).

Not surprisingly, the level of output falls immediately. But if the saving rate the fraction of output devoted to saving and investment is unchanged, the economy will then

experience a period of high growth. Output grows because, at the lower capital stock, more capital is added by investment than is removed by depreciation. This high growth

continues until the economy approaches its former steady state. Hence, although destroying part of the capital stock immediately reduces output, it is followed by higher than

normal growth. The “miracle’’ of rapid growth in Japan and Germany, as it is often described in the business press, is what the Solow model predicts for countries in which

war has greatly reduced the capital stock. In this discussion of German and Japanese postwar growth, capital stock is destroyed in a war. By contrast, suppose that a war does not affect

the capital stock, but that casualties reduce the labor force.

a) What is the immediate impact on total output and on output per person? Compare how the effect would be different from the above case.

b) Assuming that the savings rate is unchanged, and that the economy was in a steady state before the war, what happens subsequently to output per worker in the postwar

economy? Is the growth rate of output per worker after the war smaller or greater than normal?

no

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What can IKEA do to maximize its lifetime value of customers

Why would a monopolist not charge the highest price possible? Include appropriate terminology that supports your reasoning.

3. Explain what we mean by internal and external reference prices –give examples for each. 4. Explain the value function and what each of these features imply: • It is flatter in the gains domain and steeper in the loss domain • It is a slanting s shape and flattens as gains and losses increase 5. Explain what we mean by multi attribute analysis or factors in purchase decision making. To help you do this, use the example that when we buy a car, we may consider the attributes of speed, paint quality, and seating capacity. Now explain how using prospect theory on each attribute we may have ‘perceived gains and losses’ with respect to our expectations or ‘reference levels’ for each attribute. 6. Give examples from advertising that would illustrate the principles that we do and should “segregate gains” and “integrate losses”. 7. Explain (you could use the value function to do this) how two discounts of $10 each, tend to have a greater impact than a single discount of $20.

• Read the situation below and answer the questions. Create a Word Doc then upload your document to this area.

  Handling Sales Resistance

  Brenda recently returned from a two-week training session that focused on how to handle sales resistance and how to earn a commitment. Brenda has become quite familiar with the ADAPT questioning system and knows she must use assessment questions to allow the buyer to describe their present situation. She has also developed a pretty good set of discovery questions that helps her identify the buyer’s pain and problems. Her challenge has been what to do with this information. Whenever Brenda attempts to use features and benefits to make her case, she encounters a myriad of objections. Brenda knows she has great products and service, but she has not been able to communicate this effectively to her prospects.

  The objection she hears most often is: “I’ve never heard of your company, how long have you been in business?” If that is not bad enough, she heard the following objections in just one morning:

  “I’m not sure I am ready to buy at this time, I’ll need to think it over.”

  “Your company is pretty new; how do I know you’ll be around to take care of me in the future?”

  “Your price is a little higher than I thought it would be.”

  “Your company was recently in the news. Are you having problems?”

  and finally,

  “I think your company is too small to meet our needs.”

  Brenda hears most of these objections right after she attempts to earn a commission. She is now getting a little gun shy about asking her prospects for the order.

  Brenda is sitting at her desk trying to figure out what to do next and she is not exactly sure how to proceed.

  Questions

  1. What would you recommend Brenda do to handle the challenges she faces?
  2. Brenda appears to have an advantage with her products and services. Develop a plan for Brenda to overcome the sales resistance she is receiving.
  3. Use the LAARC process to develop the suggested dialogue Brenda can use to address one of the major types of resistance she is receiving.
  4. What can Brenda do in the future to encounter less sales resistance when she asks for the order?