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Economics for the Global Manager

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If Microeconomics is considered to be the study of scarce resources (Perloff, 2007). In which consumers (both individuals and organizations) must make allocation decisions. These three basic trade-offs include which goods/services are to be produced, how to produce them, and who gets them.

Briefly explain how these three trade-offs are determined using a specific good/service found on the Internet:

Which goods/services are produced in your example?
How will they be produced?
Who purchases them?

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Economics for the Global Manager
If Microeconomics is considered to be the study of scarce resources (Perloff, 2007). In which consumers (both individuals and organizations) must make allocation decisions. These three basic trade-offs include which goods/services are to be produced, how to produce them, and who gets them.

Briefly explain how these three trade-offs are determined using a specific good/service found on the Internet:

Which goods/services are ...

Solution Summary

The solution explains how the trade-off between goods, production and distribution is determined using a real example. 276 words with references.

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