QUESTION ONE: Production possibility frontier model and consumer equilibrium condition Discuss how the production possibility frontier model can be used to illustrate the basic economic problem of scarcity. Explain the consumer equilibrium condition according to utility theory. Include in your answer the provision of its formula. QUESTION TWO: Factors that would result in the shift of the supply curve and demand and supply analysis List […]
Covid-19 took the world by storm and by April 2020, large numbers of people around the world were tested positive for the virus. In the frequency distribution below, the number of people infected in 40 different countries are given. Hundreds of thousands of people infected Number of countries [1.0 ; 3.0) 5 [3.0 ; 5.0) 8 [5.0; 7.0) 17 [7.0 ; 9.0) 6 [9.0; 11.0) […]
QUESTION ONE: The dairy dessert market has always been a competitive one. Still, recent changes in consumer preferences, tastes, and more have made it even more difficult for today’s gelato shops and producers. From chain-based wholesale gelato in shops to independent creameries and dessert stores, many challenges must be overcome to provide a high-quality product right for today’s market conditions (Nishitha, 2018). Factors of production […]
BUSINESS COMMUNICATION 101 QUESTION ONE Samsung marketing communication mix utilises a number of marketing communication channels such as print and media advertising, sales promotion, events and experiences and public relations. Samsung Electronics uses these channels in an integrated manner (Dudovskiy, 2018). According to West & Turner (2007), the three most well-known models for Communication are Linear, Interactional, and Transactional. Each model sheds light on the […]
