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Essay / Research Paper Abstract
This 6 page paper begins with an introduction to the telecommunications industry. The writer explains supply and demand, price, choice, scarcity and equilibrium with some examples from the telecommunications industry. The paper concludes with a brief analysis using Porter's five forces. Bibliography lists 5 sources.
Page Count:
6 pages (~225 words per page)
File: MM12_PGmicrot.rtf
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Unformatted sample text from the term paper:
calls telecommunications "the worlds biggest machine." Besides telephone and wireless services and the Internet and satellites, telecommunications is deeply involved in cable companies (Plunkett Research, 2006a). Annual revenues in this
industry total nearly $945 billion in the U.S. and nearly $3 trillion worldwide (Plunkett Research, 2006B). There was a time when there were a small handful of major operators in
the industry but that is not longer true; new operators seem to spring up frequently (Investopedia, 2006). And, while the industry used to be mostly about voice communications, it is
becoming more about text and even images (Investopedia, 2006). In other words, the supply of services has dramatically increased over the past decade or so. Supply and demand is one
of the microeconomic concepts essential to any industry. The smaller players in this industry actually purchase the services they provide to customers from the larger players (Investopedia, 2006). Even so,
this increases the supply of services to customers. The law of supply and demand describes how prices will vary based on the balance between the supply of a product and
the demand for that product (King, 2005). If there is a balance between the supply, i.e., the availability of the product, and the demand, i.e., how much of the product
consumers want, then the price for the product would be considered correct or appropriate. If there is an imbalance, the price will change. When a product is in short
supply and there is significant demand for the product, the price will increase (King, 2005). When the quantity of the product is greater than the demand, the price will decrease
(King, 2005). This assumes there are buyers willing and able to pay the higher price (King, 2005). With some products, we know that Americans, at least, will continue to
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