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Identify and explain at least two economic concepts

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Reference no: EM132685587

Question 1: Describe the firm, include such information as its:

  1. products or services
  2. annual sales, and 
  3. market share (this information is readily available in the IBIS World database.)

Question 2: Describe the market(s) in which it operates. For instance, does it operate within an oligopoly or monopolistically competitive market, a perfectly competitive market, or is it a monopoly? (Choose the closest fit.)
Explain.

Question 3: Does it operate in only one region of the United States? Does it operate nationally or internationally? Explain.

Question 4: Who are its competitors?

Question 5: Give a brief overview of the other businesses in the market that it competes against.

Question 6: Identify and explain at least 2 economic concepts that this firm seems to use to its advantage.

  • Examples might include product differentiation; attainment of economies of scale; advertising; whether the firm is regional, national, or international; and so on.

Question 7: Please include an explanation of how any significant recent events or changes in this market have affected this firm. Examples are mergers and acquisitions, technological change, legal issues, whether market demand is expanding, and so on.
Provide your evaluation of how this firm might better respond to the challenges it faces.

Reference no: EM132685587

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