You are the marketing manager for Eton, the company that sells the Eton FRX3 Hand-Turbine AM/FM/NOAA WX Alert Radio in the US. The product receives AM/FM/Weather band and includes a USB smart phone charger and flashlight, both of which can be charged by hand or through solar energy. The product is aimed at a target of consumers who are concerned about emergency preparedness. The company would like to expand operations in England and sell 20,000 units per year in the UK. Write neatly and think about your answer before you write.

1. In entering the UK market list and explain briefly THREE Macroenvironmental factors Eton must consider before it decides whether to pursue the opportunit

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know