Free

The Prices of Goods and Service - Assignment Example

Add to wishlist

Summary

The following paper under the title 'The Prices of Goods and Service ' presents multiple reasons or factors for which a person in the Kansas City area might want to pursue an MBA degree. The first reason is to increase the salary potential of the employee…

Download full paper File format: .doc, available for editing

GRAB THE BEST PAPER97.3% of users find it useful

Read Text Preview

Subject: Macro & Microeconomics
Type: Assignment
Level: College
Pages: 1 (250 words)
Downloads: 3
Author: cassandraemmeri

Extract of sample "The Prices of Goods and Service"

The prices of goods and service we purchase in the marketplace can have an elastic or inelastic demand. Three items I recently purchased are coffee, premium ice cream, and a ticket to watch an entertainment event. The first product coffee has an inelastic demand because its demand is not affected by price. The other two products have an elastic demand. If the Ice cream or the entertainment ticket would have been too expensive it would have been possible that I would not have purchased the items.

Price discrimination occurs when one customer is charged a different price for the same product at the same store. For example, universities are participants of price discrimination. International students get charged a higher price for education than American citizens. The Avatar 6:00 P.M. example also qualifies as price discrimination. The people that enter the first movie run which starts prior to 6:00 P.M. get a charge at times less than the people that go to the theater in the evening.

Cite this document

APA
MLA
CHICAGO

(The Prices of Goods and Service Assignment Example | Topics and Well Written Essays - 250 words, n.d.)
The Prices of Goods and Service Assignment Example | Topics and Well Written Essays - 250 words. Retrieved from https://studentshare.org/macro-microeconomics/1564512-managerial-economic

(The Prices of Goods and Service Assignment Example | Topics and Well Written Essays - 250 Words)
The Prices of Goods and Service Assignment Example | Topics and Well Written Essays - 250 Words. https://studentshare.org/macro-microeconomics/1564512-managerial-economic.

“The Prices of Goods and Service Assignment Example | Topics and Well Written Essays - 250 Words”, n.d. https://studentshare.org/macro-microeconomics/1564512-managerial-economic.

Cited: 0 times

CHECK THESE SAMPLES OF The Prices of Goods and Service

Factors Affecting Consumer's Purchasing Decision

Preference often presents the desire of an individual to consume a good and service thereby translating to consumer choices.... Introduction Numerous factors usually affect the purchase decision of the consumer and most of these factors have been used in understanding market for specific goods and or services.... Literature Review The choice of customer is usually governed by the microeconomic theory that connects the preferences to consume goods and services in relation to the consumption expenditure....

5 Pages (1250 words) Essay

Characteristics of Monopoly

This is when, in a company's production of goods and services, they face little if any viable substitute goods.... A monopolist does not need any outsider's mind when choosing or changing the price of goods or service that it provides.... A monopoly is a single seller in an economic setting whereby the company rises to gain monopoly with accruing the power to exclude competitors or raise prices of their commodities hence the term monopolize (Lele, 2007)....

8 Pages (2000 words) Term Paper

Understanding business environments

In a nation's point of view, an economic system can be defined as the limited supply of elements of production such as; land, labor, capital and natural resources influence or affect the production of goods and services in the country.... The government in this economic system also controls the distribution of the produced goods and services.... In this economic system, the government main agenda is to try to reduce or eliminate the pursuit of profits by the producers, and ensure that basic goods and services are produced on the basis of the consumer's needs and wants....

9 Pages (2250 words) Essay

Prices for the Same Goods

The online prices suggest that market prices of goods are drastically reduced when the same goods and items are sold item and the reason behind this phenomenon has been analyzed.... nbsp;… The author states that the prices of the items bought are shown and the online prices for the same ides are also given bringing in a comparison between market and online prices.... The second exercise is on the comparison of online prices across the four major supermarket chains across the UK and the prices of all the items have been compared to understand whether certain supermarkets are generally cheaper than certain others....

5 Pages (1250 words) Assignment

Pricing of Goods and Services

The difference between pricing of goods and services are also highlighted and the emphasis is on understanding consumer needs, market trends, quality given and expected, competitor pricing methods used, geographical or local demands, and the resources available that would determine price.... To avoid this situation, companies must realize that their corporate focus could be largely based on pricing and drawing up a strategy for the pricing of goods and services would go a long way in improving company performance....

37 Pages (9250 words) Coursework

Analysis of Price Discrimination

The satisfaction level for a service or a product is crucial information for the producers of the product or service.... And it forms the base for some of the most important decisions taken by the manufacturer/ service provider.... Price discrimination, also known as differential pricing may be defined as the practice by a company of charging different prices to the same buyer or to different buyers for the same commodity or service without corresponding difference in cost....

7 Pages (1750 words) Research Paper

Price Discrimination

In the service industry, some of the customers will benefit from the low price on off-peak time and the firms will benefit on the peak time due to high prices on services and products.... In the service industry, some of the customers will benefit from the low price on off-peak time and the firms will benefit on the peak time due to high prices on services and products.... Also, certain reasons would influence price discrimination in a monopolistic market such as, service that involves specialization or professionalism and geographical distance....

6 Pages (1500 words) Essay

French Consumer Price Index for All Goods and Services

This paper, French Consumer Price Index for All Goods and Services, declares that the inflation in France is based on the change in prices of a standard package of goods and services consumed by the French population.... Every year inflation increases, at the start of the year in January the countries have lower inflation because people were buying during the festive season all the stores and services provide raises the prices during this period....

7 Pages (1750 words) Assignment