In the carbonated soft drinks, when we narrow down to the cola market, there are two well-known existing in the market, which are Coca-Cola and Pepsi Cola. Coke and Pepsi are selling cola drinks with similar taste and price, therefore they are perfect substitutes. Both the companies have been competing strongly against each other for … More Coca-Cola vs Pepsi
A firm’s strategy : Price-discrimination Coupons are a very effective way to apply price discrimination, especially for the market that has a very elastic demand. Customers who are very responsive to the price changes are likely to take an effort to get coupons for lowering the price. By offering coupons, a producer can charge a … More Coupon Discount : Why Firms Are Using Coupons?
An important long-run change in developed countries’ labor markets is the decline of the middle-skilled labor for manufacturing and production jobs due to the automation of production. According to Oxford Economics, each new industrial robot wipes out 1.6 manufacturing jobs, the firm said, with the least-skilled regions being more affected. Regions where more people have … More The Rise of Automation : How Robots Impact Labor Force and Production
Before the innovation of technologies, opening a manufacturing business was difficult due to the lack of production and huge cost expenditures. However, with niche products and advanced technologies, now it is possible for entrepreneurs to venture into manufacturing industry. The term manufacturing business refers to any business that uses components, parts, or raw materials to … More Starting a New Bakery Business?
One of the main issues in economics is the extent to which the government should intervene in the economy. Free market economists like Adam Smith argued that for the best efficiency, individuals are usually best left to their own devices without the heavy hand of government guiding their actions while others claim that government intervention … More Would Rent Control in London Be A Disaster?
All About Economics 