Boone and Kurtz Contemporary Marketing 12/e
Question 1: What opportunity costs did you incur in reading this chapter? If you read four more chapters of this text today, would your opportunity costs (per chapter) increase? Explain.
Question 2: What is the real cost of the food in the free lunch cartoon?
Question 3: Markets reward individuals according to their output; communism rewards people according to their needs.
How might these different systems affect work effort?
Question 4: Why is per capita GDP so much higher in the United States than in Mexico?
Question 5: The U.S. farm population has shrunk by over 25 million people since 1900. Were did they all go? Why did they move?
Question 6: Why should the government regulate how goods are produced? Can regulation be excessive?
Question 7: In the story of Tom, the student confronted with a web design assignment, we emphasized the great urgency of his desire for web services. Many people would say that Tom had an "absolute need" for web help and was therefore ready to "pay anything" to get it. If this were true, what shape would his demand curve have? Why isn't this realistic?
Question 8: What would happen in the apple market if the government set a minimum price of $2.00 per apple? What might motivate such a policy?
Question 9: Why should taxpayers subsidize public colleges and universities? What benefits are generated by higher
education?
Question 10: Are subway fares progressive or regressive? How about highway tolls?