The only two countries in the world, Alpha and Omega, face the following production possibilities frontiers.
Alpha's Production Possibilities Frontier Omega's Production Possibilities Frontier
a. Assume that each country decides to use half of its resources in the production of each good. Show these points on the graphs for each country as point A.
b. If these countries choose not to trade, what would be the total world production of popcorn and peanuts?
c. Now suppose that each country decides to specialize in the good in which each has a comparative advantage. By specializing, what is the total world production of each product now?
d. If each country decides to trade 100 units of popcorn for 100 units of peanuts, show on the graphs the gain each country would receive from trade. Label these points B.
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Loyalty Program
Specifically designed to retain customers by offering premiums or other incentives to customers who make multiple purchases over time.
Sweepstakes
Promotional drawings in which prizes are given away at no charge to the participants, often used as a marketing tactic.
Contest
A competitive event or situation where participants try to win by doing something better than others.
Advertising Plan
A strategic document outlining the objectives, target audience, messaging, and channels for a specific advertising campaign, designed to achieve marketing goals.
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