hw1sol

hw1sol - 08/23/06 ISE 410 Solution # 1 Due on 08/30/06 1....

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08/23/06 ISE 410 Solution # 1 Due on 08/30/06 1. Estimate the life cycle of the following products: Personal Computers, wristwatches, diamonds, cars, college textbooks, newspapers, magazines, Broadway shows, shirt, television. Product Life Cycle Personal computers 3-4 years Wristwatches 5-20 years (1-3 years, if fashionable like swatch) Diamonds “Forever” Cars 1-2 years for a model College textbooks 3-4 years Newspapers 1 day Magazines Until the next one appears Broadway Shows 2 weeks to 20 years Shirt 2 months to a year Television 2-3 years 2. For what reasons is it undesirable for the United States to evolve into a service economy? Wealth is primarily created by the introduction of new products. The service industry is then created to serve this new wealth. Without the wealth created from the manufacturing sector, it would not be possible to create a large service industry. In other words, who would be able to afford to buy the services if there was no manufacturing sector? 3.
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hw1sol - 08/23/06 ISE 410 Solution # 1 Due on 08/30/06 1....

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