1.Carefully read and analyze these four economic situations

Situation #1

You are the owner of a firm dedicated to the production of luxury shoes and you receive an invitation from country "Y" to establish your firm in said country. In the meetings agreed with the government, it is found that they would issue a law, through which they grant them the absolute rights to produce this type of Shoes, as long as 30% of the firm's employees are from the country. In addition, you receive a preferential rate of 10% in contributions. The gross domestic product (GDP) has had a constant growth of 4.5% and the inflation rate has been without significant growth during the last five years.

Situation #2

You lead a firm dedicated to the underwater removal of a stone that, when mixed with oil, results in a product with greater durability, thus benefiting products derived from oil. This stone is only found in various parts of the world, where there are around 10 firms in the world dedicated to this activity. To regulate prices worldwide, the 10 firms agree to associate to establish prices in the world market and to be able to determine production, when macroeconomic situations so require.

Situation # 3

You are the owner of a bus dedicated to selling ice cream in recreational parks. By analyzing market opportunities, he understands that he can develop a new flavor by mixing coconut, mango and lemon ice cream. He wants to sell this new flavor near schools, as well as recreational parks. Also, you implement a delivery service in homes or work offices adjacent to schools or recreational parks where it is established.

Situation #4

You, studying the market opportunities, understand that the dairy industry has had a positive performance during the last 4 years, and you decide to invest in this industry. So what is necessary to start includes, but is not limited to, the necessary documentation requested by the government, the purchase of cows and land, among other aspects. You start to operate and the sale price is already established, so you work with the minimization of costs in order to be more effective, which results in an increase in profit through the sale and distribution by volume.

2.Complete the information for each economic situation that is presented in the table provided

What kind of market is your firm in?

Describe some characteristic that identifies it in the Market.

Briefly describe the managerial action you would take and why.

Situation	Market structure	characteristic	general action
1
2
3
4