1. Identify whether each of the following transactions involves spot exchange, contract, or vertical integration.
a. Barnacle, Inc., has a legal obligation to purchase 2 tons of structural steel per week to manufacture conveyor frames.
b. Exxon-Mobil uses the oil extracted from its wells to produce raw polypropylene, a type of plastic.
c. Boat Lifts R Us purchases generic AC motors from a local distributor.
d. Kaspar Construction - a home-building contractor - purchases 50 pounds of nails from the local Home Depot.
2. Recently, spun-off Pitney Bowes Office Services Inc. - the fax and copier division of Pitney Bowes Inc. - signed a five-year, $25 million contract for IT services from CGI Group, a Canadian information technology company. If you were the manager of the Pitney Bowes division, how would you justify the long-term nature of your contract with CGI Group?© BrainMass Inc. brainmass.com October 25, 2018, 2:13 am ad1c9bdddf
b. Vertical Integration
c. Spot Exchange
d. Spot Exchange
2. The way I would justify is by putting ...
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Short answer questions in economics: economics, market economy, command economy,supply and demand
Questions (also attached):
1) What is economics?
2) What types of things are considered in economics? What is not?
3) What role does economics play in your personal decisions?
4) What are the advantages of a market versus a command economy?
1. What is the difference between the shift of and a movement along the demand curve?
2. What is the difference between the shift of and a movement along the supply curve?
3. How do shortages and surpluses develop?
4. What types of shortages and surpluses affect you either personally or in your work environment?
2. Answer the following questions:
a. What causes the changes in supply and demand?
b. How do shifts in supply and demand affect your decision making?
c. List four key points in the study of economics.