Suppose Two Separate Growth-Accounting Studies Between 1980 and 2010 Differ

question 91

Essay

Suppose two separate growth-accounting studies between 1980 and 2010 differ on the relative importance of the contributions of capital formation and technological change to growth in productivity. That is, one study argues that technological change has been relatively more important than capital stock growth in contributing to productivity growth, while the second study argues the opposite. How would you reconcile these two studies? (Hint: What did the discussion in the text about the Thompson bagel machine illustrate?)

Distinguish between the marketing mix and product mix.

Comprehend the definition and scope of a product in marketing.

Identify the trend and importance of private-label brands in retail.

Realize the role of brands in differentiating products and firms.

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Definitions:

Off-price Retailers

Retail stores that sell high-quality goods at lower prices than traditional retail prices, often through the purchase of overstock items or direct negotiations.

Retail Store Managers

Individuals responsible for overseeing the daily operations of retail stores, including staff management, sales, and inventory control.

Assortment

The selection of merchandise a retailer carries.

Wholesalers

Businesses that buy goods in large quantities from producers to sell them in smaller quantities to retailers or professional users.