Competition hits sportswear group’s profit Explain why the sportswear industry in JJB operates may be considered an example of monopolistic competition. Textile Intelligence Reports in 2007 indicate that the UK sportswear market was estimated to have a value of 3. 65 bn (US$6. 72 bn) …
In economics, we need to use terms a little more carefully than they are sometimes used in ordinary discussions. In general use, “Demand” is a word that can have more than one meaning, but in microeconomics we define it more carefully so that it has …
This is the formula for working out gross profit margin (GPM). Gross profit is sales turnover minus cost of sales. Sales turnover is the money value of the sale of the products by a business and cost of sales are the costs of production such …
For a product to sell, it must be in the right place at the right time for customers to buy. So place is very important in the marketing mix. The marketing mix is the combination of factors, which help the business sell a product, usually …
What is Marketing? The supply of products and services of high quality is the relationship between the company and its customers to use management as a marketing tool. Consumer products and services of the Organization of force and focus on quality and a different style …
The pricing of products is divided into three, pricing below the industry price, cloning the industry prices and having a new prices from scratch. Pricing below the industry prices meant that one will be charged fees which are similar to the industry players but slightly …
In Vietnamese textile industry, beside Viettien, Thai Tuan and An Phuoc also are big grand name. Therefore, to obtain market share and achieve success, Viettien must have understanding about their competitor. The survey also mention about some aspect such as discussion about competitors’ strengths and …
Management-to get to the profit I believe you have to have some good management behind a business. If you have a business and the management is not solid or unrecognized or nonexistent a business cannot run smoothly, therefore putting profit at risk for that business. …
The report covers the important global chlorinates markets. It further divides the market on the basis of types, Methyl Chloride, Methyl Chloride, Chloroform, and Carbon Tetrachloride; its applications, and geography. The market data for these types is given with respect to volume (kilotons) and value …
Kanyon Information Technology Solutions deals with CRM and ERP software, IT Tier 1& 2 Support, Security Solution (network security and such) and ITIL consulting services. The target consumers for these services are the other business houses. In this case, the best approach would be contacting …
If was to buy the list I would sale contact method that I would use would be contacting them in person, although it would be time consuming and expensive, I would want them to see me and know that I am serious about business. I …
Topics
Common topics are supply and demand, elasticity, opportunity cost, market equilibrium, forms of competition, and profit maximization. Microeconomics should not be confused with macroeconomics, which is the study of economy-wide things such as growth, inflation, and unemployment.
Focus
Microeconomics focuses on supply and demand and other forces that determine price levels in the economy. It takes a bottom-up approach to analyzing the economy. In other words, microeconomics tries to understand human choices, decisions, and the allocation of resources.
Principles
Microeconomics uses a set of fundamental principles to make predictions about how individuals behave in certain situations involving economic or financial transactions. These principles include the law of supply and demand, opportunity costs, and utility maximization. Microeconomics also applies to businesses.
Microeconomics books
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