Other Economics Answers

Explain the main contribution for Joseph Schumpeter, Economist of neo-classical school of Economic Thought and how his contributions have improved the modern day understanding and application of Economics.

( In 400 words)

Explain the main contribution for Vilfredo Pareto, Economist of neo-classical school of Economic Thought and how his contributions have improved the modern day understanding and application of Economics.

( In 400 words)

Explain the main contribution for Leo Walrus, Economist of neo-classical school of Economic Thought and how his contributions have improved the modern day understanding and application of Economics.

( In 400 words)

Critically discuss the principles of learning that could help you in designing and conducting your Economics education sessions

Explain the association of the following diagram (hints: the association has directions; from sales order to customers, and from customers to sales orders)?

What is segregation of duties and why internal controls need segregation of duties?

Derrive marginal value product and average value product equation using the production function Y=2X+16X2-0.4X3

SABMiller is making a conscious effort to appeal to more health conscious drinkers. Their approach to marketing therefore places emphasis on what the consumer needs. This refers to the principle of ________________ of the marketing concept.

Select one:

a.

profitability

b.

consumer orientation

c.

social responsibility

d.

organisational integration

The consumer will go through three phases of brand loyalty. If a consumer insists on having a MacDonald’s Big Mac burger instead of a Wimpy cheese burger, during which phase of brand loyalty is the consumer going?

Select one:

a.

Brand recognition

b.

Brand preference

c.

Brand insistence

d.

Brand refusal

Dumisani is the owner of a company, Knowledge Uncapped, that does marketing research for local businesses. One of their longstanding clients, Joe’s Gym, has approached Dumisani to find out which equipment his clients would prefer to have access to in the gym. Joe and his team of fitness experts have noticed that many of their clients have cancelled their contracts with Joe’s Gym in order to join the new, modern gym across the street from them. To retain his clients, Joe wants to upgrade his equipment, but realises the first step is to find out what his clients want. Dumisani will have to compile a/an ______________ which is an instrument that will ask respondents a set of questions and that is then used to generate the data necessary for accomplishing the research objectives.

Select one:

a.

survey instrument

b.

assignment

c.

research checklist

d.

agenda

SABMiller’s new scheme, Prosper, will include more global and local communications with the aim of positioning beer as the ‘natural choice’ for responsible drinkers. This type of communication will form part of which variable of the marketing mix?

Select one:

a.

Product

b.

Place

c.

Promotion

d.

Price