Utility Theory Essay Sample free essay sample

1. Explain the behaviour of consumer from the point of position of Utility Theory. As consumers. we are invariably forced into doing picks. They face a assortment of goods and services which can be purchased. but frequently are limited by the sum of money with which those purchases can be made. The public-service corporation theory. besides sometimes referred to as the consumer behaviour theory. is frequently used to explicate the behaviour of single consumers and the sum of satisfaction a consumer derives from the ingestion of goods and services. The theory of consumer behaviour explains how people can outdo use their resources to accomplish the highest degree of satisfaction possible. Harmonizing to Mr. Hirschey. the public-service corporation theory flexible joints on three basic premises: First. more is better. is described as consumers preferring more of a peculiar good or service. The 2nd is that consumer penchants are complete. which allows the consumer to prioritise the false benefits of ingestion. We will write a custom essay sample on Utility Theory Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Finally. penchants are transitive. which enables the consumer to do a determination based on the desirableness of ingestion of a peculiar good or service. All of these premises help concerns derive a better apprehension of the consumer they wish to pull. while supplying economic experts and those that study consumers a better apprehension of the wonts of consumers. There are a several other constructs of importance that are observed ; the first attack is the fringy public-service corporation. Harmonizing to the fringy public-service corporation theory. consumers should profit from ingestion of an excess unit of goods or services. For illustration. let’s expression at the ingestion of a confect saloon. Let’s say a consumer purchases a confect saloon every Friday for a month. If you were to study this single every hebdomad we would anticipate to see an addition in satisfaction each hebdomad. The 2nd point is the jurisprudence of decreasing fringy public-service corporation. The jurisprudence of decreasing fringy public-service corporation provinces that. as a consumer consumes more of a specific merchandise or service. the satisfaction from the each consecutive unit should take to a lesser satisfaction in the merchandise. Let’s expression at our confect saloon illustration once more. alternatively of one time a hebdomad. let’s say the consumer decides to buy a confect saloon everyday for a month. If we were to study him one time a hebdomad. we would anticipate to see that the first hebdomad satisfaction would be high. However as the month progressed. we could anticipate to detect that in the 2nd 3rd. and 4th hebdomads that his satisfaction has dropped off. A batch has been made as to the ground for this lessening. and most economic experts feel that the lessening is due to a alteration in gustatory sensations of the consumer. 2. Explain how consumers achieve the optimum market basket ( note that your reply must include figure/s exemplifying the optimisation procedure ) . The intent of a consumer accomplishing the optimum market basket is it takes into history how the penchants. income and the monetary value of goods influence consumer picks. Many things impact buying wonts. but there are two things that are of import in the determination doing procedure: the monetary value for of the goods or services in inquiry. and the 2nd factor is the income of the consumer. A market basket is a aggregation or package of goods or services available to consumers in the market place. What economic experts are looking at when we study the optimum market basket for a consumer is what goods or services consumers purchase in combination. Consumers frequently choose between different goods. on the footing of the satisfaction each is expected. Consumption of a merchandise is supposed to give the consumer a degree of felicity. but economic experts and concern want to cognize does the felicity addition when they purchase different merchandises together. For illustration. when a consumer purchases liquid dish soap. do they besides purchase soap for the dish washer. The reply to this inquiry is of import to concerns as it allows them to see how consumers purchase their merchandises and what merchandises are being purchased along with it. For a better apprehension of this we should analyze the ingestion of ice pick and coca-cola. These merchandises are pretty typical summer clip nutrient here in the US. and are reasonably low-cost. What we want to look at is does the consumer purchase more ice pick as they consumer more coca-cola. and what the degree of satisfaction associated with each is. For the intent of this illustration we are traveling to presume that two different degrees of satisfaction a 6 and 12. The undermentioned t abular array is the suppose degree of satisfaction of ice pick and coca-cola: Satisfaction 6| Satisfaction 12|Ice Cream| Coca-Cola| Ice Cream| Coca-Cola|1| 6| 1| 12|2| 3| 2| 6|3| 2| 3| 4|4| 1. 5| 4| 3|5| 1. 2| 5| 2. 4|6| 1| 6| 2| What this tabular array shows is that since consumers like both ice pick and coca-cola. the consumer should see an addition in satisfaction from the purchase of ice pick. at the same clip should see a lessening of satisfaction in the purchase of coca-cola. or frailty versa. Harmonizing to Mr. Hirschey. it is difficult to mensurate satisfaction of goods or services as satisfaction is considered intangible and the existent grounds of satisfaction is derived from the buying determinations made. 3. Prospective auto purchasers are sometimes confronted by gross revenues representatives who argue that they can offer a vehicle that is â€Å"just every bit good as a BMW. but at one-half the monetary value. † Use the indifference construct to explicate whether the claims of the gross revenues representative are believable or non. The procedure of purchasing a auto in the US is clip devouring and filled with pushful gross revenues people. with gross revenues pitches built on the construct of ‘my auto is merely every bit good as auto x’ . In this twenty-four hours and age. where consumers have information readily available to them. understanding the gustatory sensations and demands of the consumers is of import for a gross revenues individual. While the gross revenues representative might believe what he is stating is right. harmonizing to the indifference theory. the gross revenues representative is doing a false statement. Harmonizing to Mr. Hirschey. the indif ference curve is a graphical representation of goods or services of which a consumer is apathetic. The indifference curve indicates combinations of two goods which yield equal satisfaction to the consumer. Based on these thoughts we can look at the auto industry as being goods that consumers are apathetic about. and receive the same satisfaction no affair the name. To genuinely understand why the auto gross revenues individual is wrong we must besides understand that all goods and services can be substituted for another merchandise. If a consumer wants to buy a BMW. but lacks the fiscal means to run into their desire for the BMW. they could replace another trade name that is comparable to a BMW. However. what the consumer was looking for with the BMW. in footings of design. and comfort have been sacrificed. and the satisfaction for the auto could be diminished. This is why we have competition in the market topographic point. It allows for the gustatory sensations of each consumer to be met. as gustatory sensations are different from individual to individual. In the auto illustration. if you were to walk into a Honda franchise and the auto gross revenues individual references another tr ade name. a consumer might take the chance to measure the trade name mentioned. and possibly even see buying that trade name.

How FundsForWriters.com Taught Me to be a Successful Writer

How FundsForWriters.com Taught Me to be a Successful Writer Once upon a time, there was a writer. Shed had over a hundred feature articles published in various magazines, before she heard about FundsForWriters.com. Hey, Im a writer! I bet I could tell other writers a thing or two, and earn fifty cool ones, she thought. So she dashed off a submission to the editor, Hope Clark. It was rejected. She tried again. And again. She had to pitch four times before her fifth submission was finally accepted. Even then, the piece seemed so less-than-satisfactorily edited, it spawned not one but two irate editorials, back-to-back, on the importance of perfecting a pitch before submitting making her the only writer to have inspired such an occurrence. Hopes words stung her. She couldve quit then. She couldve packed it all in, declared this market unfit for her work, proclaimed its editor crazy and never looked back. Sour grapes? Likely. But she didnt. That writer was me. Last year, a writer had five articles published with FundsForWriters.com. Meaning nearly once every couple of months, you read her name in the newsletter. She came this close to landing a 3-in-3: three acceptances in three days. She became one of only two people to ever have two feature articles published in the newsletter in the same month, a record. That writer was also me. This is my story. Heres how I went from 0 to 5 FFW credits in less than 12 months: 1. I learned to edit. I am naturally verbose. If a thing can be said in four words, I use ten. So when asked to include voice, flavour, anecdotes and practical tips, all in under 600 words, I cursed and shook my head. Impossible! But then I did it. Five times. I grit my teeth, hardened my heart against my trademark lyrical prose and took a machete to the verbiage. As the word count dropped, my bank balance climbed. 2. I studied the market. It helped to subscribe to the newsletter for several weeks, to discern a pattern to the features presented. The guidelines themselves said it best, they couldnt have laid it out any clearer. I took note. 3. I didnt encumber myself. Ive written on diverse topics from parenting to mobile-optimized websites. I drew upon my interest and experience from other fields to apply to writing. Nobody told me it couldnt be done, so I didnt let it stop me. I was bold. I took risks. Sure, theres a chance of failure, but at least I wont regret not trying. 4. I didnt spread myself too thin, either. Im online social media shy. All I have is a blog to showcase my

How to Get Into NYU 4 Key Tips to Build a Great Application

How to Get Into NYU 4 Key Tips to Build a Great Application SAT / ACT Prep Online Guides and Tips If you want to go to NYU, you’ll need to make sure your application is strong enough to stand out from the crowd of other applicants. NYU’s acceptance rate is falling every year, so you’ll need all parts of your application to be competitive if you hope to be admitted to NYU. In this article, we’ll teach you everything you need to know to get into NYU. First, we’ll talk about how hard it is to get into NYU in the first place, taking a look at the average test scores and grades of admitted applicants. Next, we’ll discuss NYU’s admissions requirements and essays. Finally, we’ll give tips to teach you how to get into NYU. How Hard Is It To Get Into NYU? NYU has been getting more and more competitive over the recent years. In 2018, NYU’s acceptance rate fell to a record low: 19%. That means that NYU admits 19 out of every 100 applicants. An acceptance rate of just 19% means that NYU is highly selective - and getting even more so. Just a few years ago, NYU’s acceptance rate was in the 35%, meaning that it’s fallen by nearly half in a short while. Each subsequent year, NYU admits a smaller and smaller percentage of students, meaning that the acceptance rate for the Class of 2023 may be even more competitive than 2022’s was. What Is NYU Looking for in Its Students? NYU prizes diversity: it has the highest number of international students in the United States and students from all 50 states in the US. In 2017, 20% of NYU’s incoming freshmen class was from outside of the US. NYU also sends more students abroad than any other American university, so it’s safe to say that the university values exposing its students to other cultures and ways of life. With satellite campuses in fourteen different countries around the world, NYU has unparalleled opportunities to broaden your horizons. While the university prizes diversity, it’s equally clear that NYU prizes strong academics and hard work. While acceptance rates reached a record low this year, the average test scores of admitted students reached a record high, meaning that incoming students are exceptionally well-qualified, too. Can You Apply to NYU Early? NYU offers early decision to applicants that are certain NYU is the right school for them. If you apply for early decision admission, and are admitted under the early decision notification, you are expected to enroll at NYU. In addition, you have to withdraw your applications from other schools, and cannot submit new applications. Early decision offers to NYU are binding, unless you don’t receive enough financial aid to be able to attend. If you don’t get into NYU during the early decision period, you won’t be able to apply again regular decision. NYU offers two early decision dates: November 1 and January 1. Students who apply at the November 1 deadline receive their decision on December 15; students who apply on January 1 learn on February 15. It can pay off to apply early to NYU. For the Class of 2021, for instance, the overall admissions rate was roughly 28% while early decision candidates were admitted at a rate of roughly 38%. That means that you have a statistically higher chance of getting admitted to NYU early than you do as a regular decision candidate - provided, of course, that your application is strong. NYU Application Deadlines and Requirements NYU has three degree-granting campuses: New York, Abu Dhabi, and Shanghai. The admissions process is the same for all three schools. In order to apply as a first-year at NYU, you must be either: Currently in high school, even if taking college courses, or Participating in a dual-enrollment program, even if you’re earning enough credits for an associate’s degree, or Graduated with a GED or high school diploma equivalency test and not enrolled in a degree-seeking program. To apply, you’ll need to complete the Common Application and have a recommendation from your guidance counselor and up to two teachers. NYU doesn’t accept the Coalition or Universal applications. You'll also need to send in your official high school transcripts and official transcripts for any college-level work you've completed. If you're applying to the Steinhardt School of Culture, Education, and Human Development and Tisch School of the Arts, you'll need to complete an audition or submit a portfolio of work in place of standardized testing. Steinhardt requires an audition or portfolio for all applicants to the Music Department with the exception of Educational Theatre, and a portfolio for those applying to Studio Art. Tisch requires an audition or portfolio for applicants to all programs with the exception of Interactive Media Arts. If you didn't apply to Steinhardt or Tisch, you'll need to submit your standardized test scores. Regular decisions applicants must submit their applications by January 1 and are notified on April 1. Want to get into NYU or your personal top choice college? We can help. PrepScholar Admissions is the world's best admissions consulting service. We combine world-class admissions counselors with our data-driven, proprietary admissions strategies. We've overseen thousands of students get into their top choice schools, from state colleges to the Ivy League. Learn more about PrepScholar Admissions to maximize your chance of getting in. What GPA Do I Need to Get Into NYU? Most students admitted to NYU have a GPA of 3.6 or higher, which means that you’ll want to achieve at least a 3.6 to be seriously considered as an applicant. In order to achieve a 3.6, you’ll need to earn mostly A’s and A-’s on your coursework. If your GPA is below 3.6, you can try to make up for that on other parts of your application, like your test scores or your portfolio, if you’re applying to Tisch or Steinhardt. What Test Scores Do I Need to Get Into NYU? NYU requires that you submit standardized test scores unless you’re applying to Steinhardt or Tisch, where your portfolio can take the place of test scores. NYU accepts a wide variety of test scores, though most students submit SAT or ACT scores. Here’s the full breadth of scores NYU accepts: SAT; or ACT; or International Baccalaureate (IB) Diploma; or Three (3) SAT Subject Test scores; or Three (3) AP Exam scores; or Three (3) IB higher-level exam scores if not an IB Diploma candidate; or Other international examinations that show you completed, or if submitting predicted results show you will complete, your secondary education. You can find more information on these international examinations here. For this article, we’ll focus mainly on SAT and ACT scores, since those are what the majority of applicants submit. While NYU doesn’t have cut offs for SAT or ACT scores, you’ll need to make sure your scores are competitive with the average scores of admitted applicants. Let’s take a look at those. What SAT Scores Do I Need to Get Into NYU? As NYU’s acceptance rate lowers, the average SAT score of admitted applicants rises. The Class of 2022 had the highest average SAT composite score yet: 1440. That means you’ll need to score at (or very near) 1440 to be considered competitive with your fellow applicants. NYU doesn’t state which SAT scores they accept on their website (all, highest, etc), so you’ll need to contact the admissions office to learn which of your scores factor in. What ACT Scores Do I Need to Get Into NYU? NYU’s average ACT score is also rising. The average ACT score of admitted applicants to NYU is 30. Even though NYU likely says they have no minimum ACT requirement, if you apply with a 28 or below, you'll have a hard time getting in, unless you have something else very impressive in your application. There are so many applicants scoring 30 and above that a 28 will look academically weak. NYU Application Essays You'll need to submit both the regular Common App materials as well as an NYU supplement, which includes a short essay, for your NYU application. The NYU essay prompt asks you to answer the simple question: why do you want to go to NYU? Here’s the text of the prompt in full: We would like to know more about your interest in NYU. We are particularly interested in knowing what motivated you to apply to NYU and more specifically, why you have applied or expressed interest in a particular campus, school, college, program, and/or area of study? If you have applied to more than one, please tell us why you are interested in each of the campuses, schools, colleges, or programs to which you have applied. You may be focused or undecided, or simply open to the options within NYU's global network; regardless, we want to understand - Why NYU? The essay has a 400 word limit, which means that you have space to really expand on what specifically attracts you to NYU. While you should make it clear why you want to attend NYU with your essay, you don't need to agonize for hours over it. Ultimately, other parts of your application (including your test scores and grades/course rigor, and letters of recommendation) are more important factors to your acceptance. You just need to show that you've done at least a little research into NYU and why you want to apply there in particular. For a more in-depth look at how to answer this prompt, check out our article dedicated specifically to acing this essay. Tips for Getting Into NYU It’s difficult to get into NYU†¦ and it’s getting more difficult every year! If you want to be admitted to NYU this year, follow these key tips for how to get into NYU. #1: Reflect NYU’s Values NYU values diversity and providing its students with a truly global experience. If you want your application to stand out, you can talk about a.) how these values are important to you, too, and b.) how you’ll take advantage of this policy when you go to NYU. You can talk about this as part of your why NYU essay. Be sure to have concrete examples of how you’ll engage with this mindset - don’t just say it would be fun to go party in another country, have specific programs, classes or experiences in mind. #2: Polish Your Application As NYU gets more and more competitive, you’ll need to put more and more effort into making your application equally competitive. Your test scores should meet or exceed the average scores of admitted applicants, as should your grades. Ask for letters of recommendation from teachers who really know you and your work to give an idea of why NYU can’t live without you. #3: Wow With Your Portfolio If you’re applying to Steinhardt or Tisch, your portfolio needs to be stellar. Pick examples of your work that showcase your specific talents and individuality. Your portfolio should have a point-of-view and personality - don’t submit generic work that could be attributed to anyone. #4: Have a Spike When you’re applying to college, it’s tempting to seem well-rounded and interested in all the things. Don’t do that. Your application won’t stand out if you’re mediocre in band, on the track team, and on student council. It will stand out if you travel to Japan to perform with a world-class performance ensemble or qualify for the Olympic trials in shot put. When your focus is on one thing, you’ll be better at it than if you have to split your time and attention. What’s Next? Looking for application tips for other selective schools? Read our complete guides to the University of California system and to the Georgetown application. Should you apply early or regular decision to college? Find out the pros and cons of early decision in this article. Want to build the best possible college application? We can help. PrepScholar Admissions is the world's best admissions consulting service. We combine world-class admissions counselors with our data-driven, proprietary admissions strategies. We've overseen thousands of students get into their top choice schools, from state colleges to the Ivy League. We know what kinds of students colleges want to admit. We want to get you admitted to your dream schools. Learn more about PrepScholar Admissions to maximize your chance of getting in.

Journalism of the Founders Essay Example | Topics and Well Written Essays - 1000 words

Journalism of the Founders - Essay Example According to the paper  truthful reporting leaves no scope for adding opinions, lest it be called yellow journalism. But, the journalists and editors too are part of the society. They have a responsibility to highlight the wrongs, illegal activities and excesses being committed against the society, by some powerful people. Going through the articles it is more than apparent that American Revolution was indeed influenced by the writings at that time. In fact, it won’t be an exaggeration to say that the writings developed the urge in revolutionaries for freeing themselves from unjustified occupation. Thomas Jefferson aptly acknowledged the contribution of Tom Paine for his critical role in ‘propelling the American colonists towards independence from Great Britain’. Journalists too are human beings and they too have political leanings.This study highlights that  history testifies that, there have been numerous attempts to make use of the newspapers and media on p ure political considerations, but the impact have never been so high as to bring about a monumental change. This shows that the journalistic writings alone are not considered the final statement of truth. In fact, carrying through such imaginary and untenable arguments has become much more difficult in today’s times. Publications like the ‘Journal of Occurrences’ and Thomas Paine’s ‘Common Sense’ and ‘Crisis’ provided a window of hope to the people oppressed by the colonial powers. Such publications were used as discussion forums by the people.... Such publications were used as discussion forums by the people. Comparing such publications with the present times led by the IT era, blogging seems to be the forum for people to come out with their opinions/ anger a particular set of people and circumstances. The major difference being the speed for information exchange and the number of people whose views can be accommodated on the pages. Earlier, the information used to take days/ weeks and months to travel from one place to another, but the internet has made possible the information exchange at a speed of light. Though the media landscape has undergone a sea-change since the times of the American Revolution, yet the basic concept remains similar. In today's media rich environment, journalism, the profession, has acquired newer dimensions. Be it the coverage of war on Iraq and Afghanistan or the hidden camera sting operations, more value addition has taken place in the traditional form of journalism. Adverse circumstances appear to be the basic breeding ground for journalistic excellence. Duri ng the occupation of American land, the French and British soldiers exhibited outrageous behavior and resorted to brutalities against women, which led to simmering discontent, further fueled by the writings from the likes of Tom Paine, Sam Adams etc. This had definite contribution towards shaping the revolution. Journalistic writings have the ability to read pulse of the people, and after gathering the realistic feedback, the writings help in generating a debate amongst larger section of masses. Not only the printed publications, but any media with a mass appeal like poets, writers, journalists, singers, drama

NetFlix company Essay Example | Topics and Well Written Essays - 500 words - 1

NetFlix company - Essay Example Another reason why the mission statement of Netflix should be reformulated is because its company philosophy does not appear in the statement. The company’s basic beliefs, values and aspirations are not reflected in their mission statement. What is clear in their statement is where their strategies are directed and what they want to be in the future. The firm’s strategy of increasing its streaming subscription globally is the appropriate strategy for the company. Over time, it is expected that their domestic DVD by mail service to decline significantly in the near future; thus, their strategy to focus on their streaming service is a good move for the company. Netflix has decreased its budget in their DVD business to allocate more to its global streaming business (Netflix, Inc. 8). One can say that this strategy of Netflix has produced the desired results because as of the first quarter of 2012, there was an additional three million streaming subscribers; therefore, reaching a total of 26 million global subscribers (Netflix 1). This strategy further strengthened their position as the world’s leading internet TV network (Netflix 1). The domestic streaming service alone contributed $67 million to the company’s profit, which is 13% contribution margin (Netflix 1). Indeed, the firm’s strategy is providing them a relevant competitive advantage and is working well for them. Another strategy implemented by Netflix that is to their advantage is their continuous move to increase the quantity and quality of their TV shows and movies. Their approach is to sign licensing agreement with TV and movie outfits and major film distributors and producers in order to reinforce their content offerings and have a steady flow of new titles (Netflix 2-3). This is a competitive advantage which they enjoy over their competitors. As

love in the time of cholera :: essays research papers fc

Black Death THE BLACK DEATH During the fourteenth century a horrible plague spread across Asia, Europe, and Great Britain. This plague is referred to as the black death. Many people are not quite sure why the disease was given the name. The most popular reason why it might be called the black death is because it left purplish, blackish blotches on the bodies of the sick. â€Å"But if the name of the epidemic had been derived primarily from the appearance of its victims, one would have expected it to have been used at the time. Of this there is no evidence.†(Zeiger 17). Step by step, I am going to take you on the journey the black death took, from where it started, what it did, and when it ended. Bacillus yersinia pestis is the bacteria that lived in the blood streams of medieval rats and their fleas. Some time in the late 1340’s the bacteria made its way from rats to warm blooded mammals like humans. Due to earthquakes and other environmental occurrences, medieval rats were forced to cross the paths of humans. They first got on board of ships at ports, then headed to cities where they spread the disease. It was not the rats that spread the disease, but it was their fleas that bit humans and infected them. There was three forms of the plague; bubonic, pneumonic, and septicemia. Each form had different symptoms. â€Å"The most common form, called bubonic, is characterized by the formation of egg-sized swellings at the site of the flea bite, usually located in the armpits, groin, or neck.†(Wark). Which ever form someone contracted they died a disgusting death within days. Their whole body would get covered with nasty blotches of blood under their skin, and any fluid excreted from their body contained an unbearable stench. Florence, Italy was a very hard hit area because it was located right on the Arno River where ships would dock to import and export goods. It was estimated that between 45,000 and 65,000 Florentines died from the plague. â€Å"New cemet eries had to be consecrated quickly to receive all the dead bodies.†(Carmichael 110). With so many people dieing, some tried to write their friends from other countries and warn them with what to look for. Others tried out running the it when it turns out all they were doing was spreading it. After conquering Florence, the plague moved towards England where it killed off fifty percent of the population in London.

International Trade and Brief Company Profile

Political-Legal Environment Country’s differences in relation to political and legal systems can have dramatic impact on the benefits, costs and risks associated with expanding a business internationally (Hill, 2008, p. 219). In order to make a well analysed decision on feasibility of expansion of Octahedron into either Mexico or Colombia, the political-legal environments of each country must be researched and analysed. Beginning with Mexico, the current government type of Mexico is a Federal Republic.Question of  FEDERAL TRADE at  https://donemyessay.com/apush-chapter-29/The current government is in the process of improving many of the country’s economic challenges, in particular, the improvement and modernisation of labour laws. According to online website run by the U. S Department of State (2011, para. 7) the President’s main priorities are to create more job opportunities within the country, which can be interpreted that the country is open to internatio nal business expansion, as it will provide more jobs within the country, which in turn will improve the economy of Mexico.However, there are some setbacks in the way of political risks if Octahedron were to expand to Mexico, as it is very difficult to improve such things with so much corruption in the country and a high amount of organized crime on the streets. Such corruption often scares international iinvestors away, as it is not worth risking one’s life to expand a business internationally. However, the current government is working hard to improve this situation and have assisted Mexico in dramatically improving international trade.According to online website ‘Encyclopaedia of the Nations’ (2012, para. 4) the success of this can mostly be attributed to the North American Free Trade Agreement (NAFTA) which they joined in 1994. As well as NAFTA, Mexico is part of another Free Trade Agreement with the European Union. These agreements set Mexico up as a highly s ought after country for international expansion, as it is one of the only country’s with special access to both the North American and European markets. Expanding to a country that is part of these free trade agreements s exactly what Octahedron needs, as according to Mcgee, working with a free trading country will save costs of imports and exports (2011, para. 1), therefore increasing the company’s profitability. However, the political-legal environment of Colombia must also be analysed as a potential player for international expansion of Octahedron. The form of government currently running is a Constitutional Republic. According to journalist Pablo Mejia (2011, para. 2) Colombia is perhaps best known as one of the highest drug trading countries in the world, which is never a positive reputation to hold, especially not for international expansion.However, over the past decade Colombia has had a dramatic decrease in crime rates, increase in pro-business politicians who have encouraged more openness to foreign trade (2010, para. 3). The political risk of a country is a key consideration for iinvestors hoping to emerge into a new market. Another journalist, Kimball states that the most threatening political risk of expansion to Colombia is social unrest within the country and the high level of corruption (2011, para. 2). It has been ranked among the world’s most violent countries, due to the guerrillas and drug gangs.