Surplus Vs Social Surplus Essay

Furthermore, the monopolies got rid of the competition so there was no competitive price point. This was not fair for the commoner because the businesses could change the cost of their products and people would have to pay what they charged. The United States has tried to remove all of the monopolies starting with President Theodore Roosevelt. Today there are practically no monopolies in the United States, but in two-thousand four Microsoft was sued for a monopoly of their product Microsoft Word, this was a very rare

The utility of this philosophy is clear only demand exceeds offer. Its greatest draw back is that it 's not forever necessary that the client on every occasion purchases the cheap and simply on the market product or services. 2. Product

In “Highlight your Flaws” it brought up how they will bring up the companies flaws rather than letting the consumer find out/ discover them then comment on them. It is better that the marketer does this before the consumer because then it prevents putting negative images or thoughts in their head. Next “Reposition your Competition” is about changing the position a certain business has in the consumer mind, meaning make their product or company become more important to them than it might have previously been. Also, knocking down other companies under yours in the consumer 's head without the consumer even realizing you are doing so. “Promote Exclusivity” is where you make the consumer feel important.

The Redman-Childe list was created to describe a civilization and what is needed to be considered a civilization. The five things a civilization must have in order for it to be considered a civilization through Redman-Childe standards are a large urban center with high population density, concentration of surpluses, a class structured society, full time specialization of labor, and a state level of organization. Although there may be reasons why it is biased, this list of characteristics seems to fit well with Mauryan Empire of India, as it includes all the points on the list. When you apply the Redman-Childe list to the Mauryan Empire in India, under Chandragupta, you can see that it possesses every characteristic it needs to be considered a civilization. India, at nearly every point in its history, has had one of the highest population densities in the world, especially in its largest cities (@).

Porter’s Five Forces Porter’s Five Forces framework is to identify the level of competition within the industry and to determine the strengths or weaknesses which can utilise to strengthen the position. The framework consist of five elements: threat of entry, bargaining power of supplier, bargaining power of buyer, threat of substitutes and industry rivalry. Forces Analysis Implication Threat of new entrant Low Threat Diversified of product There are high demand of furniture and electrical appliance.

Market Structure - Oligopoly Oligopoly is a market structure whereby a few number of firms owns a lion’s share in the market. This market structure is similar to monopoly, except that instead of one firm, two or more firms have control in the market. In an oligopoly, there are no upper limits to the number of firms, but the number must be nadir enough that the operations of one firm remarkably influence and affects the others (Investopedia, 2003). The Walt Disney Company is categorized under an oligopoly market structure.

For whom will items be produced? All goods and services are conveyed for some individual to eat up. In a free market, who gets what is directed by who can deal with the cost of what at a cost controlled by free market action. As a business visionary, this question should be tended to in an unclear line of thought from “what to convey?” Who are your consumers?

3. Threat of new entrants High barriers to entry in the industry. Licensing requirements are high. There is a minimum size requirement to achieve profitability and the initial investment is required and fixed costs of operating. How much of the control is in the hands of existing players of the market or key resources?

Thirdly and finally, it will give some examples of this phenomena. The formation of a cartel causes a lot of problems on the market. Cartels are based on agreements between different companies. The companies work together, in order to gain more profit for themselves.

From the viewpoint of the customer, there are some advantages of buying a product under oligopolistic market. Firstly, customers may have many choices. Oligopolies sell various branded goods because of the characteristics of imperfect competition. One of the characteristics of oligopoly is non-price competition.

1. Introduction Social safety nets, defined by World Bank (2015) as “non-contributory transfers in cash or in kind targeted to the poor and vulnerable”, have been a norm in developed countries for the past few decades. However, developing countries are slowly catching on to the trend as well. Taking notes from developed countries such as Britain’s welfare state, and Singapore’s Central Provident Fund (CPF), developing countries have also implemented some social safety nets of their own, which are customised to the needs of their societies.

The oligopoly market is set up in a way so that competitors can survive because each is unique and there are so few competitors that they are virtually indispensable even if some ethics atrocity

This is the comparison of the benefits offered by a company's product to its customers relative to the price it asks customers to pay. To do this, companies can influence the value proposition in one of two ways mainly. This can be done through long term brand building. They can also offer a relatively low cost to enhance value. Ultimately, the key is that customers perceive that the product's merits exceedingly justify its price.

Hence we assume this to be a situation of duopoly. The 2 companies sell products which are very close substitutes and are constantly fighting for greater market share. A person may buy a Coke product instead of a Pepsi one, and vice versa. The objective of both is to maximize their profit.

They are differentiated by their products such as soft drinks and soap powder. There also exist little firms who produce similar products such as petrol. However, in oligopoly, there are barriers to enter the market. Similar to monopoly, the barriers are no different, and it differs from one industry to the other. This is why the firms in oligopoly are interdependent with each other, because the firms all have large market shares and each of their actions would affect the rest, so any decision-making will be based on their competitors’ reactions.