MACROECONOMICS
14th Edition
ISBN: 9781337794985
Author: Baumol
Publisher: CENGAGE L
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Question
Chapter 7, Problem 3TY
To determine
To describe: The rapid price increase in given products/services, which are expected to rise over long periods and the reasons behind such price increase.
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The Chief Executive Officer of Dar Al Herfya (World of Handicrafts) spends her days contacting potential
clients and setting up meetings in which she explains the salient features of the hand-made products
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her enthusiasm a bit. “This has been my routine for the last three years. You have to work hard if you
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In 2012, Zuwaina relinquished her top corporate job, and all the perks that went with it, to launch her
own company with the goal of promoting traditional Omani handicraft. “I worked with Omran as
director of branding, and Omantel as senior manager of branding and communication. During my stints,
I observed that corporate gifts never reflected Oman’s cultural identity. It prompted me to do an
independent market research to learn about the alternatives available. It culminated in the launch of
Dar Al Herfya,”…
The Chief Executive Officer of Dar Al Herfya (World of Handicrafts) spends her days contacting potential
clients and setting up meetings in which she explains the salient features of the hand-made products
she sells and their role in sustaining the rural economy in Oman. Her hectic schedule has not diminished
her enthusiasm a bit. “This has been my routine for the last three years. You have to work hard if you
have a mission,” says Zuwaina of her pet project.
In 2012, Zuwaina relinquished her top corporate job, and all the perks that went with it, to launch her
own company with the goal of promoting traditional Omani handicraft. “I worked with Omran as
director of branding, and Omantel as senior manager of branding and communication. During my stints,
I observed that corporate gifts never reflected Oman’s cultural identity. It prompted me to do an
independent market research to learn about the alternatives available. It culminated in the launch of
Dar Al Herfya,”…
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