Ch. 6: Simple Pricing
a. define the Law of Demand?
b. Explain the distinguish between a change in demand and a
change in quantity demanded?
c. create a demand curve from a simple demand schedule in Table
6.2?
d. determine the calculated values in a table such as Table
6.4?
e. Can you apply your understanding of Chapter 4’s marginal
analysis to pricing decisions in a price-making (versus
price-taking) firm?
f. Can you explain in words what Own Price Elasticity,...
Assume that the insurer can NOT distinguish between the two
types of consumers, and can offer only one policy (the same policy
to everyone). What will be the breakeven policy premium IF everyone
buys the policy? With such a premium, will everyone actually buy
the policy? Over long run, what will be the equilibrium policy
premium in the market and who will get insurance?
Define locus of control and distinguish between internals and
externals. Discuss the relationship between locus of control and
well-being and include evidence with regard to personal achievement
and psychotherapy. (Highly Detailed)
Define outplacement and severance pay.
Distinguish between transfers and promotions.
Define offboarding. Why is it important?
What signal might the decision not to fire Bill give to other
store managers?
Distinguish between needs and wants, and explain why
it may be better to act as if no needs exist.
Explain why lease payments for a new vehicle are lower
than loan payments for the same vehicle.
How do you choose between a low interest rate and a
rebate?
What three aspects of a vehicle purchase should be
negotiated? In what order?
Distinguish between mediation and
arbitration.