Questions to be answered today
- legal structure
- Management Structure
- Location
- Staffing
- Marketing Strategy
- Domestic,national, multinational
- Exporter/importer
b. Identify the industry and marketplace in which this firm operates e.g. mining, retail, pure competition, monopolistic competition, oligopoly, monopoly. (Kevin, James)
c. Explain why you selected the market structure that you did and why you eliminated the alternative types e.g. number and size of firms, product characteristics, barriers to entry (Kevin, James)
d. Indicate if government intervention is applicable to the operations of this firm and if so what implications this may have both now and in the future. You could consider among others price intervention (ceiling and floor prices), quantity intervention (taxes, subsidies), government legislation. (James)
e. Discuss what implications any government intervention may have in the present situation and in the future e.g. reducing/increasing consumer demand, reducing market share, provision of more merit goods, price reductions/increases, quantity, shortages (James)
f. Indicate if you believe it would possible to establish a new firm providing the same goods or services in the same market at the current time. Explain your decision. (Oscar)
