Category: Economics

the demand curve for a product is Q = -0.5P+50. Currently I=Income+50000

➤ Can digital marketing replace traditional marketing?
Digital marketing complements rather than fully replaces traditional marketing. It offers precise targeting, real-time analytics, and scalable channels like search, social, and email. Traditional media still matters for mass reach, brand experiences, and local promotions. The most effective approach integrates online and offline tactics to strengthen messaging and improve the customer journey.

➤ Why are insights more valuable than observations in decision-making?
Insights add explanatory power to observations. They identify root causes, reveal opportunities, and enable better predictions. Decisionmakers can use insights to prioritize actions, design experiments, and allocate resources efficiently. However, insights are strongest when combined with evidence, measurement, and iterative refinement to avoid bias or premature conclusions.

Total revenue is calculated by subtracting the total costs from the price.

What are some pros and cons of globalization? State two pros and two cons.