Final Exam Review (Fall 2005) 1. Review Exam 1 and Exam II (Both exams and review sheets). a. Distinguish Between the Marketing Bill, Marketing Margin, and Market Basket b. Index Number Interpretation c. Real vs Nominal Prices d. Elasticity Estimation and Interpretation (Own, Cross, Income, and Price Flexibility Coefficient e. Relationship of Price Elasticity of Demand and Total Revenue f. Substitutes vs Complimentary Goods g. Normal vs Inferior Goods h. Movement vs Shifts in Supply and Demand Schedules i. Derived vs Primary Demand/Supply j. Classification Criteria for Distinguishing Market Structure Models k. Perfectly Competition vs. Imperfect Competition Models l. Market Structure, Conduct and Performance Model 2. Price Discovery (Chapter 8) a. Distinguish between Price Determination and Price Discovery b. Identify Various Price Discovery Systems c. Distinguish between a Marketing Contract and a Production Contract d. Identify some Advantages and Concerns of Contracting (Sellers vs Buyers)
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Supply And Demand,
Market Basket, complimentary goods, vs inferior goods, vs Complimentary Goods, vs Primary Demand/Supply