Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Homework Help/Study Tips Expert

Do some research on topic known to economists as the 'friction-free' or 'low-friction' economy. Early preparers on this topic foresaw many of the seismic shifts that have occurred in market place over the past one to two decades. Some of these early writings on 'friction' discussed many of the business tools we now think of as either commonplace or even obsolete. It is sometimes hard to imagine that businesses once embraced overnight mail, inexpensive fax machines, and email as being as monumental as we now think of business web sites, smart phone apps, Facebook, business portals (such as Amazon), and Google. The business tools becoming available may have been different, but the impacts on business strategies were dramatic. Once you have done your research, tell your classmates what you found, where you found it, and who the authors of the material are.

Next, tie the idea of a friction-free or low-friction economy to the concepts of demand and supply, and demand elasticity , two major topics in Managerial Economics. Some ideas that might be debated include, but are not limited to:

What is the connection or correlation between the amount of 'friction' in an economy and demand and supply? Does a relationship even exist? How can we quantify the relationship?

As friction in an economy decreases or increases, how is the demand for a firm's product or service impacted (does anyone remember when a traveler contacted a travel agent instead of Kayak for an airplane ticket, and the ticket was printed and presented to board a flight?)? Does it increase? Does it decrease? How can we measure the impact? How does the elasticity of demand for a firm's products change, if it does change? Are all firms impacted the same? Why or why not?

Is there an integral connection between friction in an economy and elasticity of demand? Why do you believe there is, or why do you believe there is not? If there is a connection, what is it? Can we measure or specify the relationship? If yes, how do we do so?

Homework Help/Study Tips, Others

  • Category:- Homework Help/Study Tips
  • Reference No.:- M937463

Have any Question? 


Related Questions in Homework Help/Study Tips

Discussionto educate them about psychological assessment to

Discussion To educate them about psychological assessment. To begin, select a targeted developmental or reading level pre-K through grade 6. Review the elements required for each section of your storybook below. Visit th ...

Locate and take a free online assessment that uses the big

Locate and take a free online assessment that uses the Big Five personality factors. Write a 1,050- to 1,400-word paper describing your personality traits based on your findings from the Big Five assessment tool. Include ...

Comprehension scenariouse the following scenario from the

Comprehension Scenario Use the following scenario from The IRIS Center to complete the tasks below: José is a new student in the fifth grade. It is April and this is the third school José has been in this year. José adap ...

Assignmentessay prompthey guyshere is the prompt for essay

Assignment Essay Prompt Hey Guys, Here is the prompt for Essay #3: Essay will be based on the novel Slaughterhouse Five and THREE articles: "How America's Leading Science Fiction Authors Are Shaping Your Future," "Changi ...

The field of research in psychology is paramount in the

The field of research in psychology is paramount. In the section on competencies, it is expected that psychologists understand and know the research in their fields, with particular attention paid to evidenced-based inte ...

After reading the first-hand account from epa site and also

After reading the first-hand account from EPA site and also watching the videos, please write a short reaction paper (1-2 pages) about the Love Canal tragedy.  I would like for you to focus on two issues:  1) The failure ...

Assignment discussion-gender stereotypesthe perspective

Assignment: Discussion-Gender Stereotypes The perspective with which you view gender can influence both your experience of it and its respective psychology. When you extend your understanding of the psychology of your ge ...

Looking at the four violent index crimes included in the

Looking at the four Violent Index Crimes included in the Uniform Crime Report (UCR) comment on the official stats for each. Do you feel the numbers are an accurate representation of the number of offenses that occur? Why ...

Assignment application - protocol for diagnosis management

Assignment: Application - Protocol for Diagnosis, Management, and Follow-Up Care of Growth and Development and Psychosocial Issues As pediatric patients grow from infancy to adolescence, there are many common growth and ...

Real research challenge problembelow is an image from my

Real Research Challenge Problem: Below is an image from my research at NIST and I think you all are equipped to solve to identify the mechanism of deformation. This is a cross-sectional electron image of an extreme ultra ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro