Answer:
1. Sports Team Shirt - Excludable / Rivalrous
2. Air we breathe - Non - Excludable / Non - Rivalrous
3. Atlantic Bluefin Tuna - Non -Excludable / Rivalrous
4. A Toll Road - Excludable / Non - Rivalrous
Explanation:
A rivalrous good is one in which usage, by an individual limits the ability of another to use the same good. Rival goods are tangible. This means that they can be held or touched. Examples in this category are; A sports team shirt and, the Atlantic Blue Fin Tuna. Eating a Tuna would limit access to another person, who wants to eat Tuna at that point in time. The same would apply to wearing a sports shirt.
A Non - Rivalrous good is one in which usage by an individual does not limit consumption by another. Most non - tangible goods are non -
rivalrous. Examples in this category are; the air we breathe, and the Toll Road. Almost anyone can access these.
Excludable goods are only used after payment for them has been made. Examples are the Toll Road and the Sports Team Shirt.
Non - Excludable goods can be used even when payment has not been made. Examples are Air and The Atlantic Blue Fin Tuna which anyone can access.
Answer:
A. Price makers
B. Brand name
Explanation:
A. The hotels charge very high prices for wine and soft drinks because they are not price takers. They do not consider the price prevailing in the market for the products they are offering to the customers. They are price makers and select to charge the price they want to maintain their current hospitality. It their perception that wine and soft drinks are part of luxury. The food is an essential and people are not allowed to bring outside food in the hotel so they will buy it but when they will consume food they will also require the drinks as a part of their meal.
B. The people in today's world are so much brand conscious. They will pay for a name tag so they will be regarded for their high status in the society despite of low quality products. The ease of shopping at the branded stores is another reason for their high sales.
Answer:
While Sony and Microsoft focused on the graphics and raw processing power favored by hard-core male gamers, Nintendo chose to develop a machine to appeal to families, women, and age groups that normally shunned violent games.
The strategy adopted by Nintendo in this example is the _____ strategy.
C) blue ocean
Explanation:
Blue ocean is a strategy that says innovation, simultaneous pursuit, and low cost are key concepts to achieve a successful business and establish an advantage in the market. It is a very proactive system that allows the constant improvement, elimination, reduction, and creation of corporate actions. It is a global and general perspective that allows the management team to know the state of the company at any time.
