The angle between Radius vector r=a(1-cosθ) and tangent to the curve is ∅ given by _______

Is economics goal free? Name 3 goals  economics might seek to achieve?

Explain, with reference to elasticity, why the price of primary products is so volatile (unstable).

Q5 – Assessment Criteria  

Drag and drop – Match the following key terms to the correct definition.

The “Rocky’s” restaurant is based in Seattle, WA, USA. The owner sends you an e-mail and ask you to answer a few questions regarding his costs.

Read the case and all instructions carefully before answering the questions

General Situation

You are the owner of a pizzeria restaurant in Vevey that has been open for 3 years on the waterfront of Lake Leman. The restaurant seats 85 persons.

Your customers include local people (mostly families), businessmen/women at lunch and tourists (only during the summer).

The menu is quite extensive, without a daily special. Prices are medium ranged for the area.

You have a loyal following and repeat customer and your website also brings new business, tourists and groups.

Your analysis

At the end of last year (2019), you have noticed a steady drop in revenue since the beginning of 2017, which you analyze as follows:

1. The Christmas Market (mid-November to mid-December) has been above average rainy and cold. Many local people didn’t attend, because it was too cold. Your business was down 20% compared to the previous year.
2. Some new restaurants opened in Montreux in April and May. Some are within walking distance from your establishment; some are in the new industrial zone, just outside town.
3. Wi-Fi in the restaurant has been off for almost 3 months due to technical issues that were hard to resolve. The website was also down for a couple of months, just before the summer.
4. Some small renovations have resulted in temporary closing of part of the dining room in March. However, the restaurant was never fully closed.

What are the four categories of the SWOT analysis?

Read the case and all instructions carefully before answering the questions

General Situation

You are the owner of a pizzeria restaurant in Vevey that has been open for 3 years on the waterfront of Lake Leman. The restaurant seats 85 persons.

Your customers include local people (mostly families), businessmen/women at lunch and tourists (only during the summer).

The menu is quite extensive, without a daily special. Prices are medium ranged for the area.

You have a loyal following and repeat customer and your website also brings new business, tourists and groups.

Your analysis

At the end of last year (2019), you have noticed a steady drop in revenue since the beginning of 2017, which you analyze as follows:

1. The Christmas Market (mid-November to mid-December) has been above average rainy and cold. Many local people didn’t attend, because it was too cold. Your business was down 20% compared to the previous year.
2. Some new restaurants opened in Montreux in April and May. Some are within walking distance from your establishment; some are in the new industrial zone, just outside town.
3. Wi-Fi in the restaurant has been off for almost 3 months due to technical issues that were hard to resolve. The website was also down for a couple of months, just before the summer.
4. Some small renovations have resulted in temporary closing of part of the dining room in March. However, the restaurant was never fully closed.

Create a SWOT analysis based on these new conditions with a minimum 2 points per category

Evaluate the use of government policies to increase the consumption of health care.

Explain, with reference to the kinked demand curve, how non-collusive oligopoly operates to keep prices stable.

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