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PACKAGING: The container and graphic design variable in the marketing mix, (sometimes included in the product). Changes in product distribution and government regulations in contents identification have made the packaging variable a very important component in the organizationŐs marketing strategy. Packaging completes the marketing process by giving the consumer vital information just prior to making the final buy decision.
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Lesson 14: Production | Unit 3: Product Curves
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Page: 15 of 25
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Topic:
Production Stages
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- The pattern of production exhibited by the total, average, and marginal product curves gives rise to three distinct production stages:
Stage I: - The total product curve has an increasing positive slope.
- Stage I is characterized by increasing marginal returns.
Stage II: - The total product curve has a decreasing positive slope.
- Stage II is characterized by decreasing marginal returns.
Stage III: - The total product curve has a negative slope.
- Stage III is also characterized by decreasing marginal returns.
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BALANCE ON SERVICES A subset of the balance of payments current account that records the difference between the payments received for exports of services to other nations and the payments made for the imports of services from other nations. The flow of payments is for intangible services, not for physical or tangible goods. The balance on services is thus appropriately divided into services exported and services imported. Two other subsets of the current account include the balance on merchandise trade and unilateral transfers. The commonly termed balance of trade is the sum of the balance on merchandise trade and the balance on services.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a bookshelf that will fit in your closet or a birthday greeting card for your grandfather. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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IJIO
International Journal of Industrial Organization
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