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What does the rise of alternative products like Puff Bar tell you about the overall role of market forces?
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- why is competition good for the consumer from an economics perspectiveWhat are the three main virtues of the market system?There are only a few restaurants near a tourist attraction. These restaurants would mail discount coupons to local residents nearby and they find that this could help them earning more profits. Explain the economic principle behind this.
- How do markets operate to bring product into existence? How does that relationship affect supply and demand for the various markets involved? In what ways has the change in supply and demand affected the market? What enabled the many participants in the production of this product to cooperate, and how has this affected the production of the product?For example, a 12 oz cup of Coke is $1, and a 32 oz cup is $1.70. What explains this marketing strategy? With the help of graphs (economic models) demonstrate.How do market concentration and market power relate to the principle of competition?
- Explain different types of competition and also state why is competition good for the consumer from an economics perspectiveWhat role does the profit motive play in a market economy?It’s increasingly clear that many postings on blogs and product reviews on Web sites are fake or are posted there to manipulate consumers’ opinions. How big a problem is this if consumers increasingly look to consumer-generated product reviews to guide their purchase decisions? What steps, if any, can marketers take to nip this problem in the bud?