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Economics - Essay Example

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The entrance of firms like Comcast, Apple, Hulu, Amazon and Google into the market of streaming videos will make Netflix to struggle in attracting many customers as there will be intensified competition. This will see Netflix fiscal year frustrated.
Netflix survival is…
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Download file to see previous pages... As individuals continue to think that Netflix stands for a great compelling entertainment, the speed with which streaming movies adopt in general, and in particular, looks to be importantly slower compared to previous anticipation. To survive, Netflix should spend more on initial programming with an effort to draw closer more customers. The original investment will be of a positive effect in the long run.
According to an article in the Wall Street Journal: In early January last year, after a disappointing Charismas season and amid worries about competition from discount retailers, Zale Corp. decided to shake things up: The self-proclaimed jeweller to Middle America was going to chase upscale customers….The move was a disaster. The Irving, Texas, retailer lost many of its traditional customers without winning the new ones it coveted. (From Ann Zimmerman and Kris Hudson, “Chasing Upscale Customers Tarnishes Mass-Market Jeweller,” Wall Street Journal, June 26, 2006. P. A1.
Why would a firm like Zale abandon one market niche for another market niche? We know that in this case the move was not successful. Can you think of other cases where the company successful changed its business strategy?
Firms like Zale may move from one market niche to another market niche due to monopolistic competition. This is where by many firms compete in a market, there are no barriers to entries and products available in the market are differentiated. The weak economy and fierce competition led Zale to move to another market niche (Mihaljevic, 2013)
The dry cleaning is indirectly practicing price discrimination as there exist a difference in cost involved in accomplishing the work. Besides, there is a big difference in price we are not aware of incase it is the real costs’ differences.
As an economist I am not for support of law such as this as hair grooming, dry cleaning and laundry are jobs that can be ...Download file to see next pagesRead More
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As such, economic analysis relates to the study of economic systems in an industry to ascertain the effectiveness of the operations of a given industry with reference to its profitability1. With this, we are able to establish the optimum use of the limited resources to achieve a given economic objective.
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If the quantity demanded of a certain product changes minimally or does not change at all, then that product is said to be a Price Inelastic Good. Consequently, if a product whose price increased and such a change brought forth an abrupt drop in quantity demanded of the same product, the good is said to be Price Elastic.
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s the above figure illustrates, if there is a supply shock in an economy (such as increase in the price of oil, labor or other costs that increase the cost of doing business), the short run AS curve shifts to the left. The real GDP decreases from Q to Q’ and the price level
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