4 major factors to marketing plan
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1. product.
2. price
3. place
4. promotion.
once these elements have all been determined, the producer can proceed
with production and distribution of his product.
Keynesian economic theory
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, this theory advocates that government be involved in the marketplace to
soften recession or depression as well as to encourage productivity.
in macroeconomics how is efficiency defined?
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allocation of scarce resources to maximize total utility
classical economics
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the theory that free markets will restore full employment without
government intervention
Describe a perfect competition
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1. Firms are not able to control the final price,
2. No barrier to entry,
3. Selling the identical product.
Example: agriculture
3 rates of inflation
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creeping, galloping and hyperinflation
What is a country's money supply
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is the sum of currency in circulation plus the level of checkable deposits.
World Trade Organization (WTO)
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a trade organization that replaced the old General Agreement on Tariffs
and Trade (GATT)
four types of marketing utility (enjoyment)
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1. form utility
2. place utility
3. time utility
4. ownership utility
, contractionary fiscal policy
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Fiscal policy used to decrease aggregate demand or supply. Deliberate
measures to decrease government expenditures, increase taxes, or both.
Appropriate during periods of inflation.
What is oligopoly?
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Only a few firms control production and distribution of products, such as
cars. barriers to entry are high.
WTO's role in agreements for developing member countries
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Provisions requiring all WTO members to safeguard their trade interests
What is the Leahy Amendment?
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Give this one a try later!
1. product.
2. price
3. place
4. promotion.
once these elements have all been determined, the producer can proceed
with production and distribution of his product.
Keynesian economic theory
Give this one a try later!
, this theory advocates that government be involved in the marketplace to
soften recession or depression as well as to encourage productivity.
in macroeconomics how is efficiency defined?
Give this one a try later!
allocation of scarce resources to maximize total utility
classical economics
Give this one a try later!
the theory that free markets will restore full employment without
government intervention
Describe a perfect competition
Give this one a try later!
1. Firms are not able to control the final price,
2. No barrier to entry,
3. Selling the identical product.
Example: agriculture
3 rates of inflation
,Give this one a try later!
creeping, galloping and hyperinflation
What is a country's money supply
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is the sum of currency in circulation plus the level of checkable deposits.
World Trade Organization (WTO)
Give this one a try later!
a trade organization that replaced the old General Agreement on Tariffs
and Trade (GATT)
four types of marketing utility (enjoyment)
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1. form utility
2. place utility
3. time utility
4. ownership utility
, contractionary fiscal policy
Give this one a try later!
Fiscal policy used to decrease aggregate demand or supply. Deliberate
measures to decrease government expenditures, increase taxes, or both.
Appropriate during periods of inflation.
What is oligopoly?
Give this one a try later!
Only a few firms control production and distribution of products, such as
cars. barriers to entry are high.
WTO's role in agreements for developing member countries
Give this one a try later!
Provisions requiring all WTO members to safeguard their trade interests
What is the Leahy Amendment?
Give this one a try later!
