Review Class 9 Market JAMAL ENTERPRISES case study

Q1 1- Explain what is meant by market failure. Give examples of market failure. 2- Explain how application of a protectionism policy could affect the import and export business of Jamal Enterprises. 3- What are limitations of applying a protectionism policy?

Q2 1- Define the following terms: Perfect competition – creative destruction 2- Explain how consideration of Schumpeter’s theories on innovation could enable Jamal Enterprises to be a more successful organization. Which of the advisers could be said to be following Schumpeter’s theories? 3- Compare and contrast the neoclassical and Schumpeterian models of the comparative market.

Q3 1- Explain the following terms: Aggregate demand – The multiplier effect 2- Show how the circular flow of income model is relevant to Jamal Enterprises 3- Using materials from B-200 markets and examples, explain what host countries do to encourage or discourage multinational corporation from doing business in their country.

1- Explain what is meant by market failure. Give examples of market failure. General definition of market failure and examples. – Ch 7

2- Explain how application of a protectionism policy could affect the import and export business of Jamal Enterprises. Ch 8 Definition of protectionism How application of a protectionism policy affect Jamal enterprises (import & export) Example from case study

What are limitations of applying a protectionism policy? Explain government protectionism policies and how is affect the international trade. Ch 9 market modules & 14 Use examples ‘ optional chapters’

Define the following terms: Perfect competition – creative destruction Perfect competition is an economic model that describes a hypothetical market form in which no producer or consumer has the market power to influence prices, perfect competition would lead to a completely efficient outcome. Creative destruction, describes the process of transformation that accompanies radical innovation. In Schumpeter's vision of capitalism, innovative entry by entrepreneur was the force that sustained long-term economic growth, even as it destroyed the value of established companies that enjoyed some degree of monopoly power

Explain how consideration of Schumpeter’s theories on innovation could enable Jamal Enterprises to be a more successful organization. Which of the advisers could be said to be following Schumpeter’s theories? Description of Schumpeter’s theory Explain how innovation could help Jamal’s usiness According to your point which adviser be following Schumpeter’s (Mohamed or Ahmed)

Compare and contrast the neoclassical and Schumpeterian models of the comparative market. Ch 6

Explain the following terms: Aggregate demand – The multiplier effect aggregate demand is the total demand for final goods and services in the economy at a given time and price level ……. Complete Multiplier effect refers to the idea that an initial spending rise can lead to even greater increase in national income. In other words, an initial change in aggregate demand can cause a further change in aggregate output for the economy

Show how the circular flow of income model is relevant to Jamal Enterprises The circular flow of income, or simply the circular flow, is a simple economic model showing the relationship between money income and spending for the economy as a whole….. Continue

Using materials from B-200 markets and examples, explain what host countries do to encourage or discourage multinational corporation from doing business in their country. Ch 10