Market Structure and Analysis - 996 Words

There are a few different market structures, competitive market, monopolies, and oligopolies. According to Mankiw (2007) competitive market, also known as monopolistic competition or â€Å"perfectly competitive market† is defined as â€Å"a market with many buyers and sellers trading identical products so that each buyer and seller is a price taker† (Pg. 290). In this market structure there are two characteristics: there are many buyers and many sellers in the market and the goods offered by the various sellers are largely the same. Maximizing profits in a competitive market is the difference between total revenue and total cost. There is a distinction between accounting and economic profits: economic profits equals’ sales revenue minus economic costs and account profits equals sales revenue minus accounting costs. The objective for a competitive market structure to maximize profits is to determine the optimum level of output at witch marginal cost equals market price. Output is determined in this structure by using the marginal decision rule and increasing output to the point which the benefit of the additional unit of output is equal to the marginal cost. The role of competitive market structure in the economy is important. This structure allow any firm to enter and exit, while buyers and sellers having little impute in the in the price which is determined by the market. An example of competitive market would be agricultural farming of wheat. There are many producers of wheat andShow MoreRelatedAnalysis Of Different Market Structures Of A Market Structure2335 Words   |  10 Pages Analysis of Different Market Structures Student s name Course name and number Instructor s name Date submitted Analysis of Different Market Structures 1. Introduction The small number of market structure consultancies across the globe shows that the market structure concept is itself considerably new. Clearly, various market structure components have been widely studied over the years: derivatives, exchange, trading, and clearing. Even then, there has been no holistic examination of theRead MoreAnalysis of Market Structures10585 Words   |  43 PagesAn Analysis of Market Structures and Their Related Pricing Strategies Christa Jones American Public University Systems Abstract Market structures influence a firm’s behavior and profit opportunity and are therefore critical to understanding how a market functions. The conditions that distinguish each market structure define the level of competition observed within the market which in turn determines the profit level that can be made. Because pricing strategies are intended to maximize a firm’sRead MoreMarket Structure Analysis in Tanzania5537 Words   |  23 PagesMarket structures Analysis- Term Paper INTRODUCTION Generally the concept of market structures can be essential to marketing and economics. Both emphasize the environment in which these companies operate and its importance it has on strategic decision making. Economics is more concerned about the degree of market competition and the pricing strategies of these firms. Marketing, on the other hand, concentrates its focus on consumer behaviour. Basically there are four major market structuresRead MoreMarket Structure Analysis of McDonalds652 Words   |  3 PagesMcDonalds Market Structure: Market structures can be described as the models of markets or the specific social organization that exist between buyers and sellers within a particular market. They can also be defined as the characteristics and organization of a specific market in which a company conducts its business. While there are normally four kinds of markets, markets can be classified based on their degree of pricing and competitiveness. As one of the leading fast food chain restaurants acrossRead MoreEconomic Analysis of an Oligopoly Market Structure1715 Words   |  7 Pages1. Introduction 1a. Article Summary In this article Michael Baker discusses the livelihood of small retailers in a market subjugated by the financially dominant oligopolies, Woolworths and Coles. While the small independent retailers in direct competition with Woolworths and Coles provide some competitive respite for consumers, as they encourage competitive pricing, albeit predatory pricing, it is clear that Woolworths and Coles control the supermarket industry in Australia, in the formation of aRead MoreApple Inc Market Structure Analysis Essay1825 Words   |  8 Pagesi) Apple inc market structure As ayola web site view Diffirent economic blogs We can consider apple is oligopoly in smart phone market , while it is a duopoly in computer operiting system . The Demand curves of Apple Computers: And thair is some expections that apple may be a monopoly, that which may be not agood ,becouse it making apple buyers and fans worry about product quality over time . Oligopoly market structure characterized by : (few number of salers,high ability to control the priceRead MoreApple Inc Market Structure Analysis Essay1432 Words   |  6 Pages(i) Apple inc market structure As ayola web site view Diffirent economic blogs We can consider apple is oligopoly in smart phone market , while it is a duopoly in computer operiting system . And thair is some expections that apple may be a monopoly, that which may be not agood ,becouse it making apple buyers and fans worry about product quality over time . (ii) its market share and major competitors As every one know that apple created its loyal fans due to its quality , that make it hard forRead MoreAnalysis of Market Structures and Pricing Strategies Essay1114 Words   |  5 PagesAnalysis of Market Structures and Pricing Strategies The markets today are so complex and deal with so many variables it can be difficult to understand just exactly how they operate. In the following I will reveal the different kinds of market structures along with their different pricing strategies. Relating to these topics, I will focus on the importance of cost, competition and customer. 1. Analysis of different market Structures DifferentRead MoreAn Economic Analysis Of Tata Steel s Market Structure3445 Words   |  14 PagesAn Economic Analysis of TATA Steel’s Market Structure, Strategic Competitive Issues, and Policy Advice Introduction Established in 1907, TATA Steel is one of the oldest and most successful steel companies in the world. Headquartered in Mumbai, India, TATA Steel ranks as the number 12 Steel Company in the world, with sales of over 23.8 million tonnes of steel per year. It currently stands as not only the largest private sector company in India, employing over 80,000 people, but the most profitableRead MoreKudler Fine Foods: Analysis of the Market Structures and Strategic Planning1079 Words   |  4 PagesAbstract This paper presents an analysis of the market structures, strategic planning, market environment, and internal environment of Kudler Fine Food in order to suggest the best market structure which can be helpful for its long-term profitability and recommend strategies which can make it more competitive and successful among its industry rivals. Difference between Market Structures There are four types of market structures: Monopolistic Competition, Monopoly, Oligopoly, and Perfect Competition

The Best War Ever America And World War II - 1362 Words

In his book The Best War Ever: America and World War II, Michael Adams tries to dissolve the many misconceptions of World War II. As the title of the book implies, The United States left the war with a great optimistic view of the these â€Å"glorious† five years. The United States as a population had been tricked into believing in the, at times, fabricated conditions of its history that had been presented to people as some beautiful stories and myths where nations are viewed as being first-rate in union and morality. These so-called myths were created out of several factors. Because of Hollywood, the vast amounts of government propaganda, and far-reaching economic prosperity, Americans were, for the most part, hidden from the real truth of The Second World War. In this period of time, even, the generation of the Second World War is seen as being top-notch in morality and unity. There was a popular misconception held that there were no problems in terms of ethnicity or gender; it seemed that families were living contented lives and children excelled in school and read all kinds of books (115). This time period was a golden era when all Americans set aside their differences and came together for a common cause in which everyone put above all of their other priorities. The United States Army was thought of as more advanced in terms of weapons, fighting ability, and supposedly held to a higher standard of ethics on the front. Americans that did die died gloriously in a clean mannerShow MoreRelatedThe Summary of the Best War Ever: America and World War Ii730 Words   |  3 PagesUndoubtedly, humanity and modern civilization would have never reached their current form with the research. Research is the key element behind any type of evolution and progress. Contemporary, broadly established theories, varying from the understanding of the universe to the revelation of human evolution, are the result of valuable innovations in different fields of science and technology. Every day life has been simplified due to the constant advance of knowledge and discoveries. However, noneRead MoreExcessively Negative Views of America and World War II in Adams The Best War Ever790 Words   |  4 PagesWorld War Two really was the greatest war ever! Who could forget about the brave soldiers that died ever so gloriously? What about the way that we went from the worst economy in American history back to relative economic normality? And most importantly, how could anyone ever forget about the unity that arose on the home front from this foreign crisis? World War Two did have its glamorous points, but we must never forget about some of the horrors that emerged. The citizens of the United StatesRead MoreThe Best War Ever : America And Wwii Essay729 Words   |  3 PagesEddie Taylor March 31, 2015 History Book Review The Best War Ever: America and WWII Michael C.C. Adams, the author of my chosen narrative, graduated from Southern Illinois University in 1993. He is a professor of history at Northern Kentucky University. Dr. Adams holds a Ph.D. in American Studies. His primary area of interest is military history and early in his NKU career. From the information about what he is interested in being state, you can easily understand why he became the author of suchRead MoreAmerica and World War II Essay1103 Words   |  5 Pages Was World War II a Good War For America? nbsp;nbsp;nbsp;nbsp;nbsp;One of the most important wars ever fought was World War II. In the midst, the Nazis were in control of most of Europe, the Soviet Union was causing more deaths than any other country, and Japan had taken over parts of China. The United States of America was stuck in the middle of all this. They had to deal with the Nazis and deciding when to join the war, meanwhile, Japan was breathing down their necks with attacks. What wasRead MoreThe Best War Ever By Michael C. B. Adams862 Words   |  4 PagesThe Best War Ever, written by Michael C. C. Adams, is a book focusing on the balanced history of the experience from America’s view during World War II. It neither glorifies nor vilifies the U.S. participation but discusses the real horrors of the war by using glorifying aspects that could have been deceptive or even misleading. World War II defined and transformed the rest of our lives. Americans viewed World War II as the â€Å"Good War† or â€Å"The Best War Ever†. After the end of the war, Americans hadRead MoreHow World War II Has Affected the World as We Know It768 Words   |  3 PagesWorld War two was a massive war the was legitimately fought by every country in the world that matters. It was a blood bath, raging from europe all the way to Japan. All because of one man looking for revenge power and the glorification of not only himself but for his nation. Adolf Hitler wanted to restore his country from the terrible loses it had gained from the very destructive World War one. Adolf brought hope and happiness back to Germany, he was in the works of returning their once destroyedRead MoreEssay about The Events That Changed Military Technology1653 Words   |  7 Pagescenturies, the world has seen warfare evolve at such a rapid rate, that it seems no two wars are fought the same. With ever-changing technologies, soldiers’ duties and skills have had to adapt along with them. Yet, soldiers are not the only ones who have been affected by changes in warfare. With the emergence of the Napoleonic and World Wars, the people of a given country became involved in an effort known as a â€Å"total war.† As World War II came to an end though, the major powers in the world would neverRead MoreEssay Best War Ever Book Review1186 Words   |  5 PagesMany regard World War II as the best war ever, bu t why? It seems the one fact that stands out in American minds is that the Allied Powers were fighting against people who were perceived as evil†, such as Adolf Hitler and Emperor Hirohito. Many disregard all the casualties and hardships and only think about the big picture: victory. Michael C. C. Adams book, The Best War Ever: America and World War II, attempts to dissipate all of the misconceptions of the Second World War. Americans came out ofRead MoreAmerica After World War II1560 Words   |  7 PagesIs it possible to know what Americans thought of World War II, if they believed that the war was a just war or whether they did not agree for what the United States was fighting for? The historian Studs Terkel believes he knows this answer and that Americans saw themselves as liberators of an oppressed world fighting for the just war which can be concluded from his famous volume, The Good War. Of course one person’s beliefs should not be believed as easily just by re ading a book. A person shouldRead MoreEssay on Best War Ever1127 Words   |  5 Pagesâ€Å"World War II and the Depression are now nearly as far back as we can go in living memory, and so the loom large in our active folk story. And many who lived then were too young to understand it in its depth; they remember only that the war was a great victory† (Adams 115). In Michael C.C. Adams’ The Best War Ever America and World War II, the author explains and clarifies the truth about the many myths in and about the war. There are many reasons as to why the war was seen as something positive

My Observations On Children And Adults - 1061 Words

I thoroughly enjoyed doing my observations with the many children and adults I got to see. This was one of my favorite parts of this semester I am looking forward to the future! In my observations I got to see 18 children and two adults one of which I went to see two times and compared my experiences. I really enjoyed seeing both children and adults and in the future I hope to work with children but during my observations I particularly enjoyed observing one of the adults. One of the adults I worked with was Ben. Ben has severe apraxia, started speaking around the age of seven, and he is 23 years old. Some of the different exercises Ben did while I was there were matching with flash cards, he was given a pile of flashcards with labels on them and correlating pictures were spread out in front of him and he was asked to find the weights, so he had to find the picture which had the weights on it and so on. He also did an expressive drill for articulation. I noticed when he said one of his words ‘inventory’ he added an â€Å"a† at the end of it so it would be ‘inventorya’. The next thing Ben did was read books made by his Speech Language Pathologist from an app called Pictello. These books were made for him and they told about each of his jobs and what he did at those jobs. Ben has many jobs currently and has had a few different jobs in the past also. He works at the high school he attended and that is where I got to observ e Ben also. Some of his jobs at the school include: washingShow MoreRelatedA Pleasurable And Educational Preschool Observation1271 Words   |  4 Pagesï » ¿ A Pleasurable and Educational Preschool Observation: Option E I observed a 4 year old preschool class during playtime in Staten Island, New York. The class consisted of eight children, and one certified preschool teacher. There were 4 boys and 4 girls in the class. During my sixty minute observation I noticed several instances of dramatic play, peer relationships, relationships with adults, and self-control. Dramatic Play During my observation, I witnessed a group of two- one boy and one girl-playingRead MoreEssay Observation 4 Language Development Finished1611 Words   |  7 Pagesï » ¿Observation 4 (language Development) Date of observation: 28/1/2015 Time observation started and finished: 10.30 – 10.45 Number of adults present: 5 and 1 student observer Permission obtained from: playschool supervisor Description of setting: This observation took place in a registered community pre-school, the school consists of two rooms, one main classroom with the capacity to accommodate 22 children and one smaller that accommodates 8 children, the smaller of the two rooms has a sandRead MoreMy Observational Study On An Unstructured Activity Time At A Domestic Violence Shelter For Mothers And Children1540 Words   |  7 PagesMy observational study took place on May 17th. On that day, I had the opportunity of observing two children during an unstructured activity time at a domestic violence shelter for mothers and children. The two students I was there to observe were named Tom and Lucy (ages 7 and 5). In addition, there were three other children and one adult. The three additional children were Tom’s siblings—a 14 year-old brother, and two younger sisters ages 3 and 4. Tom is one of five siblings and is of Puerto RicanRead MoreA Study On Child Development Essay1715 Words   |  7 Pagesdifferences. In these observations, we are focused on the social relationships, reactions, language, and emotion. Based on what we have learned in the class, I know children a bit more than usual. Some children might be more mature than their ages, but some children might not be on their ages yet. For example, asking children to solve the same problem that some children can finish it very quick, but some of them finish it slower or cannot finish it at all. I have done several observations before using runningRead MoreJean Piaget s Influence On The Way We Understand Children1609 Words   |  7 PagesMildred Parten and Jean Piaget are two theorists that have had great influences on the way we understand children. Piaget constructed the idea that a person’s thinking passes through four stages and as the person grows, their way of thinking changes thus entering a different stage. He emphasized mostly the preoperational stage, which is for ages two to seven years old. In this stage children are seen as illogical thinkers but they do engage in make-believe games by using objects for purposes otherRead MoreSocial Interactions And Development : Young Age Group Essay1559 Words   |  7 PagesYounger Age Group 2. Social Interactions/Development While observing the younger age group, I observed many social interactions and play. One example was EJ, a male born on 6/3/2015, who was stacking blocks with an adult in the room. He would stack them up and knock them over each time he built a tower. I identified this play as exploratory because he was using the tangible properties of the blocks (Steinberg, Bornstein, Vandell, Rook, 2011). I identified his social skills as normative. He enjoyedRead MoreSocial Learning Theory Developed Its Reputation1228 Words   |  5 PagesSocial learning theory asserts that learning is a cognitive process that takes place in a social context and can occur purely through observation or direct instruction, even in the absence of motor reproduction or direct reinforcement. Famously adopted by Albert Bandura and his colleagues at Stanford University in the 1960’s, the development of social learning theory was revolved around a four step model. These four models included attention (the individ ual subject must attend to the media as wellRead More Generational Differences: The Use Of the Internet Essay example1408 Words   |  6 Pagesschool work; and adults in the workforce are using the net for business related topics or to plan their next vacation; seniors are using it to keep in touch with their grandchildren. If you aren’t using the net, then you are obviously not in tune with the Real World. There have been my in depth studies dealing with generational use of the Internet. Who is wired and who is not. The gender gap. Who, how and why a person is using the Internet. Before I get into my own observations, I would likeRead MoreIs The Self Reference Effect More Effective On Children s Memory Rather Than Adults?1733 Words   |  7 PagesIs the Self Reference Effect More Effective On Children’s Memory Rather Than Adults? Madison Herley Professor Cooke General Psychology 101 April 21, 2016 Abstract The study will investigate the self reference effect with two different age groups. The two age groups will be young and older adults, trying to obtain material. The first group is told to relate that information to themselves or past experiences and, the second group is only told to review the material given. The purpose of this experimentRead MoreUniversal Needs Of Infants And Toddlers1651 Words   |  7 Pagesphysical, cognitive, language, social, emotional domain of development. I would like to discuss three universal needs, which are important for the infant / toddler learning and development foundations. There are exploring the world, learning from observation, Infancy is one of the periods which has most exploring spirit in a person s life. The infant collects every fragment which he touches and assembles them into the big world in his heart during this time. He is an explorer, a data collector, and

Pricing in the Clothing Industry for Demand - myassignmenthelp

Question: Discuss about thePricing in the Clothing Industry for Demand and Supply. Answer: Factors Affecting the demand and Supply of Clothing in Australia Introduction The clothing industry is a very competitive industry in the whole world. Both domestic and international competitors facilitate the increased supply for clothings in Australia. The international competition has been so fierce and has led to increased innovation in this industry (Truett and Truett, 2017). This industry is so large and raises an annual revenue of over $19 billion; the number of people employed in the clothing industry are so many. According to Ibisworld.com.au (2017), the annual percentage growth of this industry from 2012 to 2017 is 3.9%. The clothing retailing entails the purchase of accessories and apparel products directly from a manufacture of from other wholesalers and selling them to the consumers without making any special alteration. The retailers sell in many shops of which some are operated on an online platform. Some of them offer special service such that a product purchased online can be home-delivered. Some of the industrys products include; infants clot hing, womens clothing, mens clothing, boys clothing, girls clothing and accessories. Analysis The supply and demand for clothing is influenced by the number and size of suppliers and the number of sellers among other factors. Price influences both supply and demand and the interaction reads to establishment of an equilibrium point (Daniel and VanHoose, 2014). This is mostly the case for competitive markets like the clothing industry. The falling are the non-price factors affecting both demand and supply. Factors Influencing Demand Demand influencing factors include; consumer preferences; demand for an item that is more preferred rises, availability of goods sold on credit; many consumers have no ready incomes are if the goods are available on credit, they raise demand and pay in the future, the consumers income level; the higher the income level the higher the demand and vice versa, increased population growth; this increases the number of buyers and thus demand rises, the price for substitutes; a low price for substitutes lowers the demand for the item. Fig: Movement in the demand curve If price is the influencing factor, movement is along the demand curve, but if its due to non-price factor, the demand curve shifts either to the left or to the right (Gillespie, 2013). Factors Influencing Supply Welch and Welch (2016) noted that some of the factors influencing supply include costs of production; an increased cost of production as is the case for Australian manufactures results in a reduced supply of the items produced. The Australian governments corporate tax bracket for the manufactures is very high and is making it more costly to produce more items and this is driving out the Australian clothing industry given the external competition (Low, 2017). The other factor is future market expectations; an expectation of reduced future consumers income may cause supply for certain goods to fall. Other profitable ventures may also influence supply; a supplier may shift to the more profitable venture and interrupt the initial supply. Lastly, the number of sellers, the more the number of sellers the higher the supply and vice versa. Fig: Movement in the demand curve If price is the influencing factor, movement is along the supply curve, but if its due to non-price factor, the supply curve shifts either to the left or to the right. Elasticity of Clothing Demand to Price Changes The demand for clothing is elastic to price changes. People may take time before they demand some new clothing as the initially owned clothes may take time before they become torn and old fashioned. A cloth is something that purchase cannot be made on a daily basis. The demand being elastic means that it is sensitive to the price changes. At a very low price, consumers are interested in purchasing more clothing; but when the price is high, the consumers skip purchasing the goods. For this reason, it is not easy for a retailer to fix his/her price at a very high level unless there is a certain trending fashion that is on demand by the middle income people. The only strategy that can allow retailers to charge the highest price from the clothing industry is through price discrimination where the prices charged are dependent on the location. Fig (a): Elastic demand (low income) Fig (a): Inelastic demand (High income) A small price change in fig (a) causes demand to change by a big proportion whereas a big change in price in fig (b) causes demand to fall by a small proportion (James, Burrow and Kleindl, 2011). Conclusion The clothing industry should understand the market they operate in and choose the right pricing strategies. They can do this by doing a research on the income level of the potential customers. Price discrimination is a good pricing strategy in the clothing market. The demand for clothing in a place flocked by high-income earners is inelastic and thus price is not a factor they consider when making their purchases; all they are interested in is the quality and the fashion. This explains why a certain brand of clothing is sold at a very high price in the urban areas, whereas the same brand sells at a low price in the rural areas. References Ibisworld.com.au. (2017). Clothing Retailing in Australia. [Online] Available at: https://www.ibisworld.com.au/industry-trends/market-research-reports/retail-trade/other-store-based-retailing/clothing-retailing.html [Accessed 29 Aug. 2017]. Daniel, J. and VanHoose, D. (2014). Global Economic Issues and Policies (3rd Ed). Routledge. Gillespie, A. (2013). Business economics. 2nd ed. Oxford: Oxford University Press. James, L., Burrow, J. and Kleindl, B. (2011). Principles of Business (8th Ed). Cengage Learning. Low, C. (2017). How the global giants are squeezing out Australian fashion. [Online] The Sydney Morning Herald. Available at: https://www.smh.com.au/business/retail/stitched-up-how-the-global-giants-are-squeezing-out-australian-fashion-20170209-gu9arc.html [Accessed 29 Aug. 2017]. Truett, L. and Truett, D. (2017). Cost relationships and globalization in the Australian clothing industry. [Online] Taylor Francis. Available at: https://www.tandfonline.com/doi/abs/10.1080/00036846.2017.1287864?journalCode=raec20 [Accessed 29 Aug. 2017]. Welch, J. and Welch, F. (2016). Economics: Theory practice (11th Ed). Hoboken, NJ: John Wiley Sons, Inc.