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DISTRIBUTION: This was formerly, the placement variable of the marketing mix. The activities that put the product, service, or idea at the correct location the customer wants and needs in order to facilitate the purchase. Channels of distribution vary based on the businessŐ strategy, target market, and resources.
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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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FACTOR DEMAND CURVE A graphical representation of the relationship between the price to a factor of production and quantity of the factor demanded, holding all ceteris paribus factor demand determinants constant. The factor demand curve is one half of the factor market. The other half is the factor supply curve.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. 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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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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BEA
Bureau of Economic Analisys
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