Marketing

Proiectarea cercetărilor de marketing

După parcurgerea acestui capitol va trebui să înţelegeţi rolul fundamental al activităţii de cercetare de marketing în cadrul procesului decizional al organizaţiei;

  • Să înţelegeţi care este conţinutul cercetărilor de marketing;
  • Să definiţi principalele tipuri de cercetări de marketing;
  • Să fiţi în măsură să alegeţi tipul de cercetare corespunzător în funcţie de natura problemei decizionale;
  • Să cunoaşteţi ce etape se parcurg în cadrul procesului complex al cercetărilor de marketing.
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Microbiologia

Obiectul microbiologiei

Microbiologia este o ştiinţă fundamentală care studiază morfologia, fiziologia şi sistematica microorganismelor, originea şi evoluţia lor, fenomenele de ereditate şi variabilitate microbiană. Etimologia cuvântului provine din limba greacă: micros = mic; bios = viaţă; logos = ştiinţă.

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Tiroida - afecţiunile tiroidiene

Noţiunea de guşă este cunoscută din antichitate. Prima intervenţie chirurgicală asupra guşii a fost efectuată în China cu 2800 ani î.e.n. Prezenţa guşii este semnalată în cărţile sacre ale Indiei cu 2000 de ani î.e.n. Referiri la guşă fac şi poetul latin Calus Valerius Catullus (anii 87-57 î.e.n), poetul roman Juvenal (anii 60-140 e.n.). Unele aspecte ale afecţiunilor tiroidiene au fost imortalizate pe pânzele marilor pictori (Michelangelo Buomarroti, Leonardo da Vinci, Rubens, Durer etc.).

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Guşa difuză toxică

In ţările exsovietice este cunoscută sub denumirea de guşă difuză toxică (GDT), iar în occident ca hipertiroidie sau boala Graves. Hipertiroidia este însă o noţiune vastă care include de la cele mai uşoare forme de creştere a funcţiei tiroidiene, cum ar fi haşitoxicoza, până la cea mai gravă afectare a funcţiei tiroidei - boala Graves.

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Hiposecretia suprarenală

Boala Addison

Boala Addison este consecinţa insuficienţei primare, globale a funcţiei corticosuprarenalelor în urma afectării lor bilaterale.

Sinonim - insuficienţă corticosuprarenală cronică primară.

Scurt istoric. în 1949 Tomas Addison a comunicat despre primele 3 cazuri, iar în 1955 a publicat monografia cu descrierea a 11 cazuri.

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Ontogeneza

Ontogeneza cuprinde toate diferenţierile şi transformările ce au loc cu o fiinţă de la etapa de contopire a ovulului cu spermatozoidul până la încetarea existenţei sale. Ea este constituită din două perioade: intrterină şi extrauterină.

Perioada intrauterină se delimitează în două stadii: stadiul de embrion, care durează până la vârsta de 2 luni (a câte 28 de zile fiecare), după care urmează stadiul de Jat, când produsul concepţiei ia o înfăţişare cât de cât umană, şi începe geneza organelor. Acest stadiu sfârşeşte cu naşterea.

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Boala itenko-cushing

Boala Iţenko-Cushing este o patologie hipotalamo-hipofizară cu hipersecreţie de ACTH şi hiperstimulare morfofuncţională a corticosu- prarenalelor.

Scurt istoric. In 1924 neurologul rus N. M. Iţenko a descris pentru prima dată tabloul clinic al bolii determinate de lezarea centrilor hipotalamici. In 1932, chirurgul american Harvey Cushing, primul a descris sindromul numit “bazofilism hipofizar”, condiţionat de adenom hipofizar.

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Habitusul şi ţinuta

Habitus este aspectul fizic exterior al unui individ după care se poate aprecia starea sănătăţii fizice şi sufleteşti, la fel şi predispunerea la anumite maladii. Acest termen, folosit pentru prima dată de Galenus, se menţine şi în zilele noastre şi constituie un ansamblu de criterii externe ce caracterizează structura corpului şi exteriorul omului.

Habitusul include şi particularităţile constituţionale, ţinuta, culoarea pielii, expresia feţei, specificul mersului.

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Bolile hipersecreţiei suprarenală

Glucosteromul

Glucosteromul este o tumoare benignă (adenom) sau malignă (carci- nom) corticosuprarenală cu hipersecreţie autonomă de glucocorticoizi.

Sinonim - sindrom Cushing suprarenal, care include şi hiperplazia cortico-suprarenală hipersecretantă de corticosteroizi.

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Suprarenalele

Scurt istoric. 1550 - Leonardo da Vinci a desenat pentru prima dată suprarenalele fără a le denumi.

1563 - Bartolomeo Eustachius face prima descriere anatomică a suprarenalelor.

1856 - Brown Sequard a demonstrat rolul vital al suprarenalelor.

1930 - P. E. Smith a demonstrat existenţa axului hipofizo-corticosu- prarenal.

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Paratiroidele

Paratiroidele au fost semnalate pentru prima dată la om de Wirhov în 1863. Anatomic au fost studiate de Sandstrom în 1880. Mai târziu, în 1893, Gley şi Muso au descoperit proprietăţile lor endocrine - secreţia hormonului paratiroidian.

Anatomie. Aproximativ 90% dintre oameni au 4 paratiroide: 2 superioare, aşezate la limita inferioară a cartilajului cricoid, şi 2 inferioare, aşezate la polul inferior al lobilor tiroidieni. Toate cele 4 glande sunt situate pe faţa posterioară a glandei tiroide în afara capsulei tiroidiene.

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Suportul ecologic al producţiei agricole

Creşterea şi dezvoltarea plantelor, în final producţia lor, este determinată de asigurarea unor condiţii de viaţă (suportul ecologic), cât mai apropiate de cele ale cadrului natural în care s-au format. Aceşti factori se numesc ecologici deoarece sunt în legătură directă cu plantele cultivate şi acţionează pe teritorii agricole mai mari sau mai mici.

Condiţiile ecologice pot fi directe ca influenţă (clima şi solul) sau indirecte (altitudine, înclinarea şi expoziţia terenului).

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Piaţa asigurărilor

Conceptul de piaţă

Cadrul organizatoric şi metodologic în care se realizează operaţiile de asigurare, respectiv activitate de asigurare constituie piaţa asigurărilor.

Creşterea şi diversificarea activităţii economice şi implicit a schimburilor internaţionale de valori au dus la creşterea şi dezvoltarea unor pieţe active şi concurente de asigurări şi reasigurări. Asigurările şi reasigurările sunt marcate de un grad ridicat de eterogenitate determinat de existenţa unei mari diversităţi de tipuri şi categorii de afaceri.

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Reorganizarea si lichidarea persoanelor juridice cu scop lucrativ

Noţiuni generale privind reorganizarea persoanelor juridice cu scop lucrativ

Atâta timp cât o societate comercială exprimă voinţa celor care s-au asociat, şi reorganizarea societăţii comerciale care se concretizează, practic, în modificarea actului constitutiv presupune acordul de voinţă al fondatorilor.

Reorganizarea societăţii comerciale poate interveni ori de câte ori în viaţă apar noi cerinţe sau evenimente deosebite, precum majorarea sau reducerea capitalului social, prelungirea duratei de funcţionare, excluderea unui asociat, schimbarea obiectului de activitate, schimbarea sediului. Asemenea schimbări se pot produce în condiţii normale de funcţionare şi unanimitate a asociaţilor.

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Echilibrul monetar şi inflaţia

În condiţiile cînd legătura între semnele valorice şi aur practic nu există, devine inevitabilă apariţia dereglărilor în funcţionarea legilor circulaţiei monetare. Devalorizarea banilor de hîrtie, datorată unei emisii băneşti excesive (drept urmare a ignorării legităţilor circulaţiei monetare), poartă denumirea de inflaţie. Provenienţa latină – inflaţio (umflare).

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Inflaţia

Inflaţia -caracterizare

Fenomenul denumit inflaţie constituie o problemă complexă de analiză macroeconomică şi una dintre cele mai importante forme ale dezechilibrului economico-social. Termenul de inflaţie a început să fie frecvent utilizat în rândul oamenilor de ştiinţă şi al oamenilor de afaceri (bancheri), abia pe la sfârşitul secolului al XIX-lea, deşi fenomenul inflaţionist exista cu mult înainte de această perioadă.

Acest fenomen a apărut cu mult înainte ca ştiinţa economică să se fi constituit, iar teoria inflaţiei s-a conturat mult mai târziu decât ştiinţa economică, astfel că inflaţia rămâne cea mai de temută şi controversată formă a dezechilibrului macroeconomic, din punct de vedere al analizei naturii sale şi a cauzelor şi mecanismelor declanşatoare.

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Afecţiuni tiroidiene II

Hipotiroidia

Prin hipotiroidie se subînţelege un deficit cronic de HT la nivelul ţesuturilor organismului ca urmare a absenţei ori insuficienţei producţiei acestora de către tiroidă şi care implică scăderea intensităţii proceselor metabolice şi funcţiilor vitale ale organismului.

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Alimentatia si sistemul imunitar

Din momentul nasterii, suntem expusi asaltului continuu al microbilor, al virusurilor si al altor agenti patogeni. Fara o aparare eficienta, foarte curand, viata ni s-ar încheia printr-o boala infectioasa sau tumorala. Din fericire, de obicei asa ceva nu se întampla, deoarece suntem înzestrati cu numeroase mecanisme de aparare, cunoscute sub denumirea de sistemul imunitar. Acest sistem detine o uimitoare adaptabilitate, fiind în stare sa produca un numar enorm de celule si de molecule, care îi pot recunoaste si distruge pe numerosii invadatori.

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Viaţa lui Karl Marx

Contextul socio - economic

Perioada 1840-1880, în care se încadrează opera lui Marx, a reprezentat una din cele mai învolburate din Europa. Monarhiile începuseră să aibă un concurent în forma democraţiilor iar oamenii începuseră să lupte împotriva statului pentru a-şi putea impune propriile idei. Economiile începuseră să funcţioneze tot mai eficient şi industrializarea devenise un proces de neoprit care spulbera vechile relaţii feudale. Tradiţiile începuseră să devină obsolente atât sub forma comportamentelor de producţie cât şi a concepţiilor despre viaţă. 

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Acordurile de la Basel privind capitalul bancar

Primul acord de la basel

Acordul de la Basel privind fondurile proprii ale bancilor1, adoptat în 1988, a avut ca origine preocuparile guvernatorilor bancilor centrale din tarile membre ale grupului G 102 care au constatat ca datorita cresterii concurentei între marile banci, nivelul fondurilor proprii ale acestora atinsese un nivel scazut, considerat periculos pentru gradul lor de solvabilitate. Acordul din 1988 vizeaza o gestiune prudenta a capitalurilor de asa maniera încât acestea sa poata face fata eventualelor pierderi.

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Accounting

Information Processing

Accounts, Debits, and Credits

The previous chapter showed how transactions caused financial statement amounts to change. “Before” and “after” examples, etc. was used to develop the illustrations. Imagine if a real business tried to keep up with its affairs this way! Perhaps a giant chalk board could be set up in the accounting department.

As transactions occurred, they would be called in to the department and the chalk board would be updated. Chaos would quickly rule. Even if the business could manage to figure out what its financial statements were supposed to contain, it probably could not systematically describe the transactions that produced those results. Obviously, a system is needed.

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Introduction to Marketing Mix

In this lesson, we will introduce you to the activities that comprise a firm’s marketing program. These activities are popularly referred to as the 4 Ps – product, price, place and promotion. After you work out this lesson, you should be able to:

  • Understand the major product decisions in marketing planning
  • Know the pricing objectives and the factors that influence the pricing decisions
  • Appreciate the role of marketing channels and understand the important channel decisions to be taken
  • Comprehend the Promotion Mix of marketing and the different elements in the promotion mix
  • Learn how the 4 Ps combine to create effective marketing programs
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Market Segmentation, Targeting and Positioning

In this lesson, we will introduce you to the activities, viz., segmentation, targeting and positioning, that are collectively referred to as marketing strategy. After you work out this lesson, you should be able to:

  • Segment the markets based on several segmentation variables
  • Target a segment by identifying the fit between segment profitability and organizational capability
  • Position your product/service so that it occupies a distinct and valued place in the target customers’ minds
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Buyer behaviour

In this lesson, we will introduce you to the process through which the ultimate buyer makes purchase decisions. After you work out this lesson, you should be able to:

  • Identify what stimulates a consumer to consider buying
  • Describe the buyer’s decision making process and the several factors which influence this decision
  • Understand the response of the buyer to the marketing and other stimuli
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Internal Marketing versus External Marketing

Abstract: International marketing orientation requires modern concepts of economic activities in accordance with the requirements and specific foreign markets (national, multinational, global) in order to meet their current and future needs with maximum efficiency. The need for knowledge of international marketing occurs when we have to realize, to sell and promote goods and services to consumers and users in other countries.

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Marketing Environment

In this lesson, we will introduce you to the forces that define marketing’s external environment. After you work out this lesson, you should be able to:

  • Identify, analyze and monitor external forces and assess their potential impacts on the firm’s goods and services
  • Understand how marketers formulate their strategy within the frame of reference provided by the forces in the external environment

In this lesson, we will discuss the following:

Marketing Process

Objectives of Marketing Process

In this lesson, we will introduce you to the activities that makeup the marketing process. After you work out this lesson, you should be able to:

  • Identify the parts of the marketing process
  • Understand the relationships among the parts of the marketing process
  • Explain how the marketing process creates, captures and sustains value for the customer
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Marketing Concepts

Objectives of marketing concepts

In this lesson, we will introduce you to the conceptual ideas that makeup the marketing function of a business. After you work out this lesson, you should be able to:

  • List out the concepts of marketing
  • Understand how these concepts are interconnected
  • Explain how marketing is changing in a connected world
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Introduction to Marketing

In this lesson, we will introduce you to the business function of marketing. After you work out this lesson, you should be able to:

  • Define marketing and the utility (value) it creates for the customer
  • Trace the origin of marketing and explain how it has evolved
  • Describe the elements of a marketing strategy
  • Understand the scope of marketing
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Definition and trends within Purchasing Management

The aim of this chapter is to provide the reader with an introduction to Purchasing Management in order to fully appreciate the book. The chapter presents the book's definition of Purchasing Management as well as briefly presenting the potential benefits with working at a strategic level with purchasing activities for a corporation.

Furthermore trends and historical developments within the area of Purchasing Management will be presented.

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Purchasing Organization

The structure of the purchasing department is especially important in external and internal networks. The organizational model must facilitate activities in different strategic levels as well as cope with changes in external environment. By adjusting formalization and centralization levels, the organization can be positioned to best support the organization.

However, no universal solution exists, as the right structure is highly company specific and dynamic over time. Therefore, this is one of the major challenges that Purchasing Management confronts within business networks.

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Purchasing management and internal collaboration

Strategic purchasing is most often associated with external relations. However, purchasing integration and internal collaboration are the enablers of every corporate strategy. The aim of this chapter is to explain the connections between purchasing and the company's competitive priorities as well as emphasize the need for interdepartmental collaboration.

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Sourcing Strategies of Purchasing Management

Sourcing Strategies of Purchasing Management

Sourcing is the activity of securing external components or services needed within the own internal organization. Companies employ different kinds of sourcing strategies and no one is declared to be the optimum solution. Outsourcing which is the foundation to choice of sourcing strategies also intends to align with a company's core competence focus.

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International Financial Reporting Standards

A reporting entity (which we will call “entity” from here onwards) is either a company or a group of companies, which are all controlled by the same decision maker, i.e. normally the same board of directors. This occurs when the board of directors of a company controls directly or indirectly a number of other companies, by holding directly or indirectly the absolute or relative majority of the voting rights of other companies.

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Analysis and interpretation of the annual report

Statement of changes in equity: its contents and informational aims

The statement of changes in equity shows a detail of the changes of the equity from the beginning to the end of the year. The main reason for the equity to change is, as explained in section 4.3 above, due to the retained profit contribution to the distributable reserves. However, many other events can affect the equity.

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We begin our study of microeconomics by looking at a market with many buyers and sellers, i.e. a market where there is a large amount of competition. We will study such a market in more depth in Perfect Competition, as well as other market types, but starting here makes it easy to get a feel for how the subject works.

Demand

The Demand Curve

The demand curve shows what quantities of a good buyers are willing to buy at different prices. Note the expression “are willing.” It is not about how much they actually buy, but about how much they would want to buy if a certain price was offered. A demand curve is only valid if all other relevant factors are held constant (ceteris paribus: with other things the same). The most important other factors that can affect demand are:

The buyers’ income.

 

Prices and price changes on other goods. We will make a distinction between complementary goods and substitute goods. An example of complementary goods is right and left shoes. If the price of right shoes rises then the demand for right shoes will typically decrease. However, the demand for left shoes will also typically decrease. Consequently, the demand for left shoes partly depends on the price of another good: right shoes.

Substitute goods work in the opposite way. An example could be blue and green pens: If one cannot use blue, one can often use green instead. If the price of green pens rises, the demand for green pens typically decreases. However, if the price of blue pens is unchanged one can use these instead of the green ones, and then the demand for blue pens increases. Consequently, the demand for blue pens depends on the price of another good: green pens.

Note that for substitute goods, a rise in the price of the other good leads to an increase in the demand for the good we are analyzing, whereas for complementary goods it is the other way around; a rise in the price of the other good leads to a decrease in the demand for the good analyzed.

Preferences. What consumers demand is largely a matter of taste. If there is a change in taste, there is usually also a change in demand. Taste can change for many different, underlying, reasons. For example, changes in moral perception or in fashion.

If these factors are held constant, then the demand curve is valid and it usually slopes downwards. In other words, the lower the price is the higher is the demand, and vice versa. Demand is defined for a certain period. One can for example think of it as defined over a month, corresponding to a monthly salary. When drawing a demand curve in a diagram, the quantity demanded is on the X-axis and the price is on the Y-axis. This is slightly odd, since we often think of the quantity demanded as a function of the price, not the other way around. There are historical reasons for drawing it this way.

When do We Move along the Demand Curve, and When Does It Shift?

The relation between price and quantity that is described by the demand curve is valid only if it is the price of the good itself that changes. Look at Figure 2.1 and the demand curve D1. If, in the beginning, the price is p1, then the quantity demanded is Q1 (point A). If the price of the good falls to p2, then the quantity demanded changes to Q2 (point B). We, consequently, move along the demand curve when the price of the good changes.

The Demand Curve

Figure 2.1: The Demand Curve

If, instead, something else changes (e.g. income, the prices of other goods,consumer preferences, or anything that affects the demand on the good), then the demand curve shifts. Assume again that the price is p1 so that the quantity demanded is Q1 (point A). If the consumer’s income increases, she can buy more of the good than she could before. Consequently, the whole demand curve shifts from D1 to D2. If the price is still p1, the quantity demanded increases to Q3 (point C).

Supply

The Supply Curve

The producer counterpart to the demand curve is the supply curve. It shows how large quantities the producers are willing to sell at different prices, given that other factors that can affects supply are held constant. The supply curve is typically upward sloping or horizontal (but it could also be downward sloping).

The demand curve is also valid over a certain period. Later, we will distinguish between two time periods: short and long horizons. The most important factors, beside the price, that affect supply are:

  • Factor prices , i.e. wages, prices of machines and compensation to owners and lenders. In other words, changes in the cost of production.
  • Laws and regulations that apply to the production.
  • Prices of other goods the firm produces or could potentially produce. Perhaps the producer is producing blue and green pens. If the price of green pens rises, she is likely to shift over resources (workers and machines) to that production and there is less left with which to produce blue pens. Consequently, the supply of blue pens decreases, even though the price of blue pens is unchanged.

The Supply Curve

Figure 2.2: The Supply Curve

The supply curve behaves in a way that is similar to that of the demand curve. Look at Figure 2.2 and the supply curve S1. If the price isp1, then the producers are willing to sell the quantity Q1 (point A). If the price of the good falls to p2, we move along S1 to point B, where the quantity is Q2. If, instead, some other factor changes, e.g. if wages increase so that it becomes more expensive to produce the good, the whole supply curve shifts. For instance from S1 to S2. If the price is still p1, then the quantity supplied changes from Q1 to Q3 (point C).

Equilibrium

A market is in equilibrium when both of these conditions are fulfilled:

  • No agent wants to change her decision or strategy.
  • The decisions of all agents are compatible with each other, so that they can all be carried out simultaneously.

If we join the supply and demand curves in one diagram, we get an equilibrium point where the two curves intersect. At this point, the price the consumers are willing to pay is the same as the price the producers demand. In Figure 2.3, the equilibrium price (market-clearing price) is p* and the equilibrium quantity is Q*.

Equilibrium

Figure 2.3: Equilibrium

The equilibrium point has two important properties in that it is most often (but not always) stable and self-correcting. That it is stable means that, if the market is in equilibrium there is no tendency to move away from it. That it is selfcorrecting means that, if the market is not in equilibrium then there is a tendency to move towards it.

To see more clearly what this means, suppose the price is higher than in equilibrium, e.g. that it is p2. At that price, producers are willing to supply the quantity Q1 whereas the consumers are only willing to buy the quantity Q2. Therefore, there is an excess supply of the good. To get rid of the extra units the producers are prepared to lower the price. This will push the price downwards, closer to p*. At p*, there is no excess supply and the downward push on the price ends.

Then assume, instead, that the price is lower than p*, e.g. that it is p3. At this price, the consumers demand the quantity Q3 whereas the producers are only willing to supply the quantity Q4. Consequently, there will be a shortage of the good, and the consumers will be prepared to bid up the price to get more units.

This will tend to push the price upwards, closer to p* where, again, the push will end.

How to Find the Equilibrium Point Mathematically

Supply and demand can be written as mathematical functions, and in simple examples, they are often straight lines. They could, for instance, be:

 Supply and demand can be written as mathematical functions

Here, QD is the quantity demanded, QS is the quantity supplied, and p is the price. We now want to find the price, p*, that makes QD = QS. If the left-hand sides above are equal, the right-hand sides must also be so. Therefore, substitute p* for p and set the right-hand sides equal to each other:

85+ 30p* + 185+ 20p*

To get p* alone on the left-hand side, we add 20 p* on both sides and subtract 85 from both sides. Then we have that

50p* =100.

Dividing by 50 on both sides yields the result that

p* = 2

If we then want to know the equilibrium quantity, Q*, we substitute the result we got for p* into either the supply or the demand function above. (Note that they must yield the same quantity, since p*, by definition, is the price that makes QD = QS.)

 Supply and demand can be written as mathematical functions

Consequently, we have the equilibrium price, p* = 2, and the equilibrium quantity, Q* = 145.

Price and Quantity Regulations

Many markets are, for a number of reasons, regulated. The government could for instance decide about prices that the market is not allowed to go above or below, or about maximum quantities. Such regulations will benefit certain groups of people, but often have unintended negative side effects. These are often called secondary effects.

Minimum Prices

Minimum prices (also called price floors) are often used for wages (the price of labor) and for certain types of goods such as agricultural goods. The minimum price is usually chosen above the equilibrium price, as in the opposite case it would not have any effect. (The market participants would then choose p* instead.) Consumers and producers are consequently prevented from reaching the equilibrium price p*.

Look at Figure 2.4. The effect of the minimum price is that the consumers only demand the quantity Q2 whereas the producers supply the quantity Q1. Therefore, we get an excess supply of the good.

Note that consumers and producers are allowed to buy and sell at any price above the minimum price. A price higher then pmin will however result in an even larger excess supply, so typically the minimum price is chosen.

The situation described is not an equilibrium. To see that, note that point 2 in the definition of an equilibrium (see Section 2.3) is not satisfied: Given the price pmin producers want to sell the quantity Q1, but that is not possible since the consumers only want to buy the quantity Q2.

The Effect of a Minimum Price

Figure 2.4: The Effect of a Minimum Price

Maximum Prices

Maximum prices (also called price ceilings) are in several countries used for apartment rentals. For a maximum price to have any effect, it has to be below the equilibrium price, and the effects are the opposite to those of a minimum price. In Figure 2.5, pmax is the maximum price. It causes the consumers to demand

the quantity Q1 whereas the producers only want to supply Q2, and, consequently, there is a shortage. A typical consequence of a maximum price is that the search time to find an appropriate good is increased since the supply is too small to meet the demand.

The Effect of a Maximum Price

Figure 2.5: The Effect of a Maximum Price

Quantity Regulations

The effects of quantity regulations are similar to those of price regulations. Assume for instance that there is a restriction stating that one may only import the quantity Qmax of a certain good, say Asian textiles.

The Effect of a Quantity Regulation

Figure 2.6: The Effect of a Quantity Regulation

Producers would have been willing to supply the quantity Qmax at a price of pS, whereas the consumers would have been willing to buy that quantity at a price of pD. Since the quantity is not allowed to increase, there is excess demand at all prices other than pD. When there is excess demand, consumers are likely to bid up the price, so the price that this market is likely to arrive at is pD. Note that at the price pD, producers are willing to supply a much larger quantity, Q1, but that they are prevented from doing so by the regulation. The consumers

have to pay a price that is larger than the equilibrium price (pD instead of p*) and they get fewer units of the good, so they typically are made worse off by a quantity regulation.

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