1. what are consumer goods? 2. read the story under 5.01 about michael jordan and his air jordan’s. what are your thoughts about michael wearing his air jordan’s against the policy of the nba? 3. what was the penalty for michael to wear his shoes during games? 4. which phase of the product development process do you believe is most important? why? 5. what is a focus group? how important do you think they are to the success of a new product? 6. name the 4 stages of a products life cycle: 7. now that you know about a products life cycle, why, as a consumer, do you think it might be wise for a consumer to wait for a few months before purchasing a newly launched product? 8. do you think personal selling is more effective than advertising? why or why not?

What is the opportunity cost (in civilian output) of a defense buildup that raises military spending from 4.0 to 4.3 percent of an $18 trillion economy? instructions: enter your response rounded to the nearest whole number?

You and your new australian bride matilda, are applying for a loan and are required to submit a balance sheet with your net worth. you own a 2008 toyota camry that you bought last month for $9,995. the kelly blue book value for this car is $13,995. you owe $8,150 on the car loan for the camry. you pay off your visa credit card every month and have not paid any credit card interest this year. the current visa credit card balance is $3,522, and the next statement is due in 15 days. you have a student loan balance of $6,500. you presently have $425 in your checking account and $1,540 in your savings account. you own 100 shares of ibm stock that you purchased for $85.50 per share. one share of ibm is now selling for $158.42. you own computers and other electronics that you purchased for $4,100 but could probably sell today on e-bay for $1,800. your gross income is $80,000 per year. what is your current net worth? (see wb ch. 2 example 2.3)

When you hire an independent contractor you don't have to pay the contractors what