Whether the market for laptop computers is local, national or global.
Explanation of Solution
The market for laptop computers would be considered as the global market. It is because the manufacturers of laptop computers deals with the dealers across the world. The transportation costs are less in comparison to the cost and price of laptop computers. The retailers in this market are rational because they can easily get the information about the prices and quantity of the laptop computers.
Concept Introduction:
Local Market: It is the market where the buyers and sellers deals with each other under the geographical area only. National Market: It is the market where the buyers and sellers decides to trade with each other across the country. Global Market: It is the market where the buyers and sellers are willing to transact anywhere in the world.
Want to see more full solutions like this?
Chapter 4 Solutions
Exploring Microeconomics
- How does the Internet help companies gain customer input on their existing and new products?arrow_forwardChoose an article on a topic (product/good/service) that affects your daily life. Briefly tell us what your article is about. Which aspect of the article's discussion affects your daily life? What factors do you think are influencing the supply and demand of the product/good/service that is the subject of your article? Include the URL of the Web site where you found the article?arrow_forwardWhich shifter increase or decrease , drawing ,change in price , change in quantityarrow_forward
- Economics Today and Tomorrow, Student EditionEconomicsISBN:9780078747663Author:McGraw-HillPublisher:Glencoe/McGraw-Hill School Pub CoEconomics: Private and Public Choice (MindTap Cou...EconomicsISBN:9781305506725Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage LearningMicroeconomics: Private and Public Choice (MindTa...EconomicsISBN:9781305506893Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. MacphersonPublisher:Cengage Learning