Economics - 516 Words
DEPARTMENT OF ECONOMICS
2013 - 2014 ACADEMIC YEAR
Dr. Zeynep BEŞPINAR
RESEARCH METHODS IN ECONOMICS
Prof.Dr. Fatma DOĞRUEL
Asst. Prof. Müge SALTOĞLU
INTRO. TO ECONOMICS II
Prof. Nesrin SUNGUR ÇAKMAK
516 Words | 11 Pages
Economics - 1644 Words
1. What is the ‘economic problem’?
The fundamental economic problem is related to the issue of scarcity. Scarcity means that resources are limited and short in supply in the world (e.g. diamond). Because of limited resources and unlimited demands, society needs to decide how much to produce and distribute these relatively scarce resources. The basic economic problem can be define as what to produce, how much to produce and for whom to produce.
Some countries are lucky to have great natural...
1,644 Words | 5 Pages
economic - 306 Words
Total Cost (TC,$’000)
Marginal Cost (MC,$’000)
(ATC,$’000 per minutes)
(b) The market structure of television broadcasting industry is oligopoly. As the television broadcasting...
306 Words | 3 Pages
economics - 1406 Words
DEPENDENCY THEORY: - Economic development theorists over the last few centuries have developed models for explaining the “undeveloped-ness” of countries in the third world countries. From Durkheim to the International Monetary Fund (IMF), we have, time after time, come to witness the rise and fall of development theories and their explanations for the predicament that many poor countries face. Dependency theory has (more so than others) lasted a great deal of time in the framework of the...
1,406 Words | 5 Pages
All Economics Essays
Economics - 1941 Words
Assignment Submission Form
Please complete and attach this form to your assignment. All assignments must be submitted on the stipulated submission date.
Please add a “” into appropriate box to indicate your assignment type.
Assignment 1 / Assignment 2
Program / Intake : BSc44
Economic Policy and the Global Environment
1,941 Words | 8 Pages
economics - 1276 Words
Q-4) what does “equilibrium price and quantity sold” mean? Are markets always in equilibrium? What happens when they are not?
On the supply and demand graph, there is one point at which the supply and demand curves intersect.
This point is called the market’s equilibrium. The price at this intersection is called the equilibrium price, and the quantity is called the equilibrium quantity. The equilibrium is a situation in which various forces are in balance, so in market’s equilibrium, the...
1,276 Words | 4 Pages
economic - 716 Words
Microeconomics vs Macroeconomics
There are differences between microeconomics and macroeconomics, although, at times, it may be hard to separate the functions of the two. First and foremost, both of these terms mentioned are sub-categories of economics itself. As the names of ‘micro’ and ‘macro’ imply, microeconomics facilitates decisions of smaller business sectors, and macroeconomics focuses on entire economies and industries. These two economies are mutually dependent, and together, they...
716 Words | 3 Pages
economic - 1148 Words
Consumer expenditure Mini Case
John Hawksworth “Opinion: Economic Trends - Saved by the consumer?”, Accountancy, London, Mar 2002 (with minor editing)
How long can the UK economy buck the global trend just because our consumers keep spending money? Have we avoided the recession that has gripped the US, Japan and Germany over the past six to 12 months or are we just postponing the day of reckoning? And are we storing up worse problems for the future as a result of rising household debt...
1,148 Words | 4 Pages
ECONOMICS - 748 Words
CHAPTER 1- INTRODUCTION TO ECONOMICS
Assumed 3 decision makers- consumers (households) – that sell
land, labour, capital &
and firms- that pay rent, wages, interest and profits (rewards for above
) firms then use the factors to produce G/S in return for payment from consumer. Govt
imposes taxes on individuals and (income tax) and firms (corporate tax) to provide infrastructure and
other services to community
Econon’s 2 basic...
748 Words | 4 Pages
economics - 865 Words
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS
General Certificate of Education
Paper 4 Data Response and Essays (Supplement)
2 hours 15 minutes
* 2 1 8 2 6 0 2 5 0 5 *
READ THESE INSTRUCTIONS FIRST
If you have been given an Answer Booklet, follow the instructions on the front cover of the Booklet.
Write your Centre number, candidate number and name on all the work you...
865 Words | 7 Pages
Economic - 1278 Words
PART B – Question 4
In analyzing the macro-environment, it is important to identify the factors that might in turn affect a number of vital variables that are likely to influence the organization’s supply and demand levels and its costs (Kotter & Schlesinger, 1991; Johnson & Scholes, 1993). A PEST analysis is one of them that are merely a framework that categorizes environmental influences as political, economic, social-cultural and technological forces. All these factors are...
1,278 Words | 5 Pages
Economics - 12883 Words
ECONOMIC WAY OF THINKING
WEALTH OF THE NATIONS
Scarcity is the basic and central economic problem confronting every society. It is the heart of the study of economics and the reason behind its establishment.
Authors have defined scarcity in various way some if which are complexly stated. One author defines scarcity as a commodity or service being in short supply, relatives to its demand (Kapur...
12,883 Words | 52 Pages
economic - 1794 Words
The principal impact of the Axioms and Dogma is on the social and moral structure of human society. That is therefore the main focus of these Essays. However, that is not the sole effect of the Axioms and Dogma, a point made, if only obliquely, in the Discourse to the first founding book of the Society of HumanKind. Practical as well as philosophical and spiritual repercussions must follow from so fundamental a change in the definition of the meaning and purpose of human existence. The Axioms...
1,794 Words | 5 Pages
Economics - 258 Words
What is Economics?
Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Economics explains how people interact within markets to get what they want or accomplish certain goals. Since economics is a driving force of human interaction, studying it often reveals why people and governments behave in particular ways.
There are two main types of economics: macroeconomics and microeconomics. Microeconomics focuses on the...
258 Words | 1 Page
Economics - 976 Words
Define the following terms:
1) Public goods are goods that when produced can be freely consumed by anyone, for example the justice system. They are made up of the following goods, non-exclusive and non-rival.
Non-exclusive goods are goods that people cannot be excluded from consuming, it is difficult or impossible to charge for its use which implies no private market as benefits cannot be denied to those who refuse to pay, for example public TV.
976 Words | 4 Pages
economics - 778 Words
BAUMOL’S MODEL OF SALES REVENUE MAXIMISATION
Maximising sales revenue is an alternative to profit maximisation and occurs when the marginal revenue, MR, from selling an extra unit is zero.
Revenue maximisation graph (ref: The condition for revenue maximisation is, therefore, to produce up to the point where MR = 0
Sales maximisation is another possible goal and occurs when the firm sells as much as possible without making a loss. Not-for-profit...
778 Words | 4 Pages
Economics - 1706 Words
MY ECONOMIC CAKE
I can not wait to finish college and begin baking my economic cake. Everyday you here about someone making it big in the stock market, some one winning the lotto jackpot or some idiot cleaning out some other idiot in court. There is only one thing that those people have that I want, and it's money. I've learned at a very early age the value of the "all mighty buck". I grew up in a poor single mother home, and when I saw all the kids with cool toys, and I had squat, I...
1,706 Words | 4 Pages
Economics - 3456 Words
Economics for business
TABLE OF CONTENTS
Overview of the Mauritian Economy
3,456 Words | 25 Pages
Economics - 2563 Words
JOMO KENYATTA UNIVERSITY OF AGRICULTURE AND TECHNOLOGY
PROGRAMME: BACHELOR OF COMMERCE
UNIT NAME: INTRODUCTION TO MACROECONOMICS
UNIT INSTRUCTOR: THOMAS MAHUNDA
UNIT CODE: HBC 2211
ACADEMIC YEAR: 2012/13
* MROKI, Evans
Determination of National Income by the Equality of Saving and Investment Method:
Definition and Explanation:
This approach is based on the Keynesian definitions of saving and investment. According to...
2,563 Words | 10 Pages
Economics - 1166 Words
There is Never Enough of Anything
In this essay I will assess how the role of scarcity takes place in our economy and in our daily life, and also I will describe how different political and economic models have developed to solve the problem of scarcity. In addition, I will talk about the role of the government in today’s economy, and I will compare and contrast capitalism vs. Corporatism. To do so it will rely on key economic...
1,166 Words | 4 Pages
Economics - 2339 Words
Economics for business; David Begg and Damian Ward
What is economics?
The problem between the wish list, which is very long and a resources list, which is very short. recognizes difference between infinite wants and finite resources
Finite resources are the limited amount of resources that enable the P and Purchase of G&S
Infinite wants Limitless desires to consume G&S
Opportunity the benefits forgone from the...
2,339 Words | 12 Pages
Economics - 16177 Words
Meaning of Macroeconomics
Traditionally the study of economics is divided into two main branches i.e.
Until the 1930s there was little need to distinguish between the two branches. Economists concentrated their attention almost exclusively on what is now traditionally known as microeconomics. Macroeconomics was clearly the junior partner. However, a new interest in macroeconomics arose in 1936 when John Maynard...
16,177 Words | 63 Pages
Economic - 730 Words
Economics is the science that studies how people and societies make decisions that allow them to get the most out of their limited resources. Because every country, every business, and every person deals with constraints and limitations, economics is literally everywhere. This Cheat Sheet gives you some of the basic essential information about economics.
the Big Definitions in Economics
When studying any subject, a key first step is to learn the lingo. Here are definitions for three...
730 Words | 3 Pages
Economic - 14229 Words
MANAGERIAL ECONOMICS MEANING OF MANAGERIAL ECONOMICS Managerial economics, used synonymously with business economics, is a branch of economics that deals with the application of microeconomic analysis to decision-making techniques of businesses and management units. It acts as the via media between economic theory and pragmatic economics. Managerial economics bridges the gap between 'theoria' and 'pracis'. The tenets of managerial economics have been derived from quantitative techniques such as...
14,229 Words | 37 Pages
economics - 1267 Words
Standards/Elements addressed by the Unit 1 test:
SSEF1 The student will explain why limited productive resources and unlimited wants result in scarcity, opportunity costs, and tradeoffs for individuals, businesses, and governments.
a. Define scarcity as a basic condition that exists when unlimited wants exceed limited productive resources.
b. Define and give examples of productive resources (factors of production) (e.g., land (natural), labor (human), capital (capital goods),...
1,267 Words | 7 Pages
Economics - 4360 Words
1. What do you understand by Managerial Economics? Give Definition and meaning of Managerial Economics.
Economics is the branch of Knowledge that deals with how the scarce resources can be used to produce valuable goods and services and distribute them efficiently among different classes of people in the society.
What is Managerial Economics?
Douglas - “Managerial economics is the application of economic principles and methodologies to the decision-making process within the firm or...
4,360 Words | 15 Pages
Economics - 1344 Words
(For IV- Understanding ONLY)
Market – the medium in which buyers and sellers interact. (Note: its meaning is not limited to a location or geographical area, it also focuses on people who are WILLING and ABLE to buy and/or sell goods and services.
Two major players/actors in the market: Buyers & Sellers
Market Equilibrium: when buyers and sellers agree at a certain price and quantity to transact
Price Equilibrium: price agreed by both buyers and sellers.
1,344 Words | 7 Pages
economics - 755 Words
STUDENT NUMBER N0128594P
DEPARTMENT INSURANCE AND RISK
NAME OF LECTURER MR MACHOKOTO
COURSE CODE PRINCIPLES OF ECONOICS (CBA 1104)
DUE DATE 30 SEPTEMBER 2013
Mixed economy is the hybrid of free market and command economy. In mixed economy both the private and public sector need to co-exist to overcome the weakness of one another....
755 Words | 3 Pages
Economic - 629 Words
FACULTY OF MANAGEMENT AND TOURISM
BACHELOR OF FINANCE AND BANKING
1. Program Description
The Bachelor of Finance and Banking (delivered in English) aims at equipping students with update knowledge
about the financial world. The program is structured into two broad areas of knowledge including background
understanding of finance and advanced understanding of finance and banking.
The basic knowledge of finance refers to structure of the financial market...
629 Words | 22 Pages
Economics - 602 Words
ECO 252 -- HW 9 Questions
1. Which of the following events would cause a decrease in the equilibrium interest rate in the short-run money market? For each event, simply state YES or NO.
a. The price level increases, Ceteris Paribus.
b. The FOMC conducts open market sales of existing bonds, Ceteris Paribus.
c. The aggregate demand shifts to the left, Ceteris Paribus.
d.The Fed increases the required reserve ratio, Ceteris Paribus.
e. The Fed increases the money supply,...
602 Words | 3 Pages
economic - 2001 Words
Student Name: Yvonne Teoh Ei HuiStudent ID: I14005697
Assignment: Individual Assignment
Lecture:MR Seyed Mohamad Mehdi TasalotiProgram:BBUS Bachelor Of Bussiness (HONS)
Title: Economics Growth
1.0 DEFINITION OF ECONOMIC GROWTH 3
2.0 BENEFITS OF ECONOMIC GROWTH 4,5
3.0 COSTS OF ECONOMIC GROWTH 6,7
4.0 CAUSES OF ECONOMIC GROWTH 8
4.1 DEMAND SIDE CAUSES 8,9
5.0 Why Economic Growth may not bring increased Happiness 9,10,
6.0 Poverty, Income...
2,001 Words | 7 Pages
Economics - 278 Words
1. The owner to the small pizzeria should compare the marginal benefit expected from increasing the radius of delivery area by one mile with the marginal cost. Some other additional cost of resources that would be required is the extra gas that will be used during the extra mile added. In result, you can begin with a marginal choice to see how these choices affect the additional sales revenue.
2. 200 C
Cars 100 B...
278 Words | 1 Page
economics - 1752 Words
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek οἰκονομία (oikonomia, "management of a household, administration") from οἶκος (oikos, "house") + νόμος (nomos, "custom" or "law"), hence "rules of the house(hold)". Political economy was the earlier name for the subject, but economists in the late 19th century suggested "economics" as a shorter term for "economic science" that also...
1,752 Words | 5 Pages
Economics - 1431 Words
(c) Use appropriate diagram, explain the exchange rate overshooting hypothesis.
In its initial depreciation after a money supply rise, the exchange rate jumps from E 1 up$/€ to E 2, a depreciation greater than its long-run depreciation from E 1 to E 3. The exchange rate is said to overshoot when its immediate response to a disturbance is greater than its long-run response. Exchange rate overshooting is an important phenomenon because it helps explain why exchange rates move so...
1,431 Words | 5 Pages
Economics - 2651 Words
Definition of Economics
What is Economics?
Economics is the social science that studies the production, distribution and consumption of goods and services. The term economics comes from the Greek for “oikos” means house and “nomos” means custom or law, hence the term economics means “rules or laws of household”.
Adam Smith’s Definition of Economics: Adam Smith wrote a book in 1776 whose title was “Wealth of Nations”. In his book he discussed the word ‘wealth’ through its four aspects:...
2,651 Words | 10 Pages
Economics - 646 Words
Economics 1Assessment Instructions
Assessment 2: Individual Assignment, 30% of Module Weighting
RELEVANT MODULE LEARNING OUTCOMES:
Analyse a range of current economic issues and problems.
Develop and communicate economic arguments in a variety of forms.
Be able to make effective presentations of economic arguments.
D-J The nature of this assignment is such that students will analyse a particular newspaper article
and, depending on the subject matter, will respond to...
646 Words | 3 Pages
Economics - 77647 Words
INTRODUCTION TO ECONOMICS
1.0 INTRODUCTION – THE SUBJECT MATTER OF ECONOMICS
Economics comes from the verb ‘to economise’, and this means making ends meet. This is a study of how society makes decisions, regarding the allocation of scarce resources. Economics as a subject is divided into two parts;
Economics, social science concerned with the production,...
77,647 Words | 317 Pages
economics - 520 Words
EC137 Economics Coursework
Based on Principles of Microeconomics (Lecturer: Ger Turley)
Instructions: To be submitted by 4pm on Friday, 18th of October to the Economics Department, 1st floor of St. Anthony’s building (old part of the CAIRNES School of Business and Economics building) on the Upper Newcastle Road (located on the right-hand side, beyond the Topaz garage and crossroads).
Please ensure that your name, student ID, tutorial details (day, time, venue), degree...
520 Words | 2 Pages
Economic - 885 Words
Need and importance of ssi
In a developing country like India, the role and importance of small-scale industries is very significant towards poverty eradication, employment generation, rural development and creating regional balance in promotion and growth of various development activities.
It is estimated that this sector has been contributing about 40% of the gross value of output produced in the manufacturing sector and the generation of employment by the small-scale sector is more than...
885 Words | 3 Pages
Economics - 4965 Words
VOL 4, NO 10
INTERDISCIPLINARY JOURNAL OF CONTEMPORARY RESEARCH IN BUSINESS
Impact of inflation and unemployment on Jordanian GDP
Dr Mahmoud Ali Jaradat AL Albayet University
Abstract This paper focus on Impact of inflation and unemployment on Jordanian GDP. Literature is cited relevant to inflation and unemployment. Data analysis is done and concusions are drawn on the basis of discussion. Keywords: Impact ; Inflation ; Unemployment ; Jordanian GDP Introduction...
4,965 Words | 19 Pages
Economics - 320 Words
Question: Consider the following short-run production function (where L = variable input, Q = output): Q = 10L – 0.5L2 Suppose that output can be sold for $10 per unit. Also assume that the firm can obtain as much of the variable input (L) as it needs at $20 per unit. a. b. c. Determine the marginal revenue product function. Determine the marginal factor cost function. Determine the optimal value of L, given that the objective is to maximize profits.
Question: The Blair Company’s three...
320 Words | 1 Page
Economics - 5343 Words
Activity Points % of Total
Discuss 105 6%
Exam 60 3%
Final Exam 100 5%
Journal 140 8%
Practice 360 19%
Quiz 540 29%
Test (CST) 350 19%
Test (TST) 200 11%
Total Points for the Course : 1855
Unit 1: The Game of Economics
Lesson 1.1: What Is Economics Anyway?
Activity 1.1.1: Study - What Kind of Game?
(Documents: Study Sheet)
See how economics can be understood as a game with rules that is played by people with different roles.
Duration: 40 min ...
5,343 Words | 23 Pages
Economics - 1258 Words
AED 1312 WEEK 1
Introduction Definition Microeconomics vs Macroeconomics Basic economics concepts Basic economics problems Production possibilities curve
Economics is one of the oldest disciplines among the
humanities and is categorized as a social science. Economics examines and analyses the economic activity of people in order to satisfy their needs and desires. Human wants are the starting point of economic activity and provide the basis...
1,258 Words | 7 Pages
Economics - 587 Words
06 June 2014
Project 1: Construction and Microeconomics
With a college degree in the study of Construction Management, an understanding of how the construction industry impacts the economics of a country and or the world, is essential knowledge for practitioners within this industry. When a construction project is in operation the easiest for all to see at the work site is the amount of people participating in the development. Seldom does anyone take the time to understand the...
587 Words | 2 Pages
ECONOMICS - 1766 Words
the branch of knowledge concerned with the production, consumption, and transfer of wealth.
the social science that studies economic activity to gain an understanding of the processes that govern the production, distribution and consumption of goods and services in an exchange economy.
SCARCITY: THE NEED TO CHOOSE
Scarcity is the fundamental economic problem of having seemingly unlimited human wants in a world of limited resources. It states that society has insufficient...
1,766 Words | 6 Pages
Economics - 1388 Words
The economics course provides students with a basic foundation in the field of economics. The course
has five sections: fundamental concepts, microeconomics, macroeconomics, international economics,
and personal finance. In each area, students are introduced to major concepts and themes concerning
that aspect of economics.
Fundamental Economic Concepts
SSEF1 The student will explain why limited productive resources and unlimited wants result in
1,388 Words | 10 Pages
Economics - 1507 Words
ECONOMICS ANALYSIS FOR BUSINESS
UNIT – 1
1. What is Economics?
Economics is the science which studies human behaviour as a relationship between ends and scare means which have alternative uses.
2. Definition of economics
According to “Adamsmith” Economic is a social science the deals with human behaviour pertaining to production, Exchange and consumption of goods and services.
3. What are basic concept of economic?
* Resource allocation
* Opportunity cost
1,507 Words | 8 Pages
Economics - 715 Words
Chapter 01 - Introduction
CHAPTER SUMMARY This chapter introduces the book. It begins with the collapse of Enron Corporation in 2001. This example illustrates how a company’s organizational design can affect its profit and likelihood of survival. It points to three critical elements of organizational design, which we refer to as organizational architecture. These elements include the assignment of decision rights, the reward system, and performance evaluation...
715 Words | 3 Pages
Economics - 411 Words
1: Define the term ‘equilibrium price’:
The price at which quantity demanded by consumers and the quantity of goods and services supplied by firms is the same.
3: With the help of an appropriate diagram and the information in extract B, explain why the world price of sugar changed in 2009:
The price of sugar rose to $0.40 per kilo in 2009 - this is shown in the extract as it states that in 2009 prices in New York and London rose by 52% to its highest in almost three...
411 Words | 2 Pages
Economics - 592 Words
Economics is the study of social behavior guiding in the allocation of scarce resources to meet the unlimited needs and desires of the individual members of a given society.
Economics seeks to understand how those individuals interact within the social structure to address key questions about the production and exchange of goods and services. First, how are individual needs and desires communicated such that the correct mix of goods and services become available? Second, how does a society...
592 Words | 2 Pages
economics - 485 Words
- 3 - N05/3/ECONO/HP1/ENG/TZ0/XX/M
Paper Specific Markscheme
In addition to the assessment criteria use the paper-specific markscheme below. Award up to the
maximum marks as indicated. Examiners should be aware that candidates may take a different
approach, which if appropriate should be fully rewarded.
1. (a) Explain the differences between monopolistic competition and
oligopoly as market structures. [10 marks]
• large number of firms (m.c) versus a few dominant firms (oligopoly)
485 Words | 3 Pages
Economics - 1229 Words
w w w e tr .X m eP
UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS
GCE Advanced Subsidiary Level and GCE Advanced Level
e ap .c rs om
MARK SCHEME for the October/November 2007 question paper
9708/02 Paper 2 (Data Response and Essay (Core)), maximum raw mark 40
This mark scheme is published as an aid to teachers and candidates, to indicate the requirements of the examination. It shows the basis on which Examiners were instructed to award marks. It does not...
1,229 Words | 5 Pages
Economics - 1014 Words
Monsters Inc is an entertaining children's movie about the city of Monstropolis which is centered around Monsters, Inc., the city's power company. Monsters, Inc. The story is about the lovable, blue giant monster named James P. Sullivan (Sulley) and his Cyclops wisecracking best friend short, green monster Mike Wazowski and what happens when the real world interacts with theirs in the form of a 2-year-old baby girl dubbed "Boo," who accidentally sneaks into the monster world with Sulley one...
1,014 Words | 3 Pages
economics - 1134 Words
Wednesday 13, October, 2010
Off Campus Partner Providers
Instructions to candidates:
1. Print your name and student number on the Examination Paper and Answer Book. At the conclusion of the examination you must hand in both the examination...
1,134 Words | 7 Pages
economics - 884 Words
Our great coutry America is known as the land of the free. It's also known as the land of opportunity. People come to America from all across the world in search of job opportunities that will allow them to provide for their family. These opportunities are what make up our workforce and keep our ecomomy strong. There are ways to analyze the economy to determine what factors contribute to it's success or what could be potential hazards. Microeconomics and Macroeconomics are...
884 Words | 3 Pages
Economic - 774 Words
Frankly, to know more about Islamic economic, lets briefly look at differentiation between Islamic economic and conventional economic. The first different is the role of moral values. Basically, conventional economics is more concern towards behavior and preferences of individuals as given. However, Islamic economics more concern on individual and social improvement throughout the moral elevation. This moral evaluation or known as uplift moral aims to the changes of individual and preferences of...
774 Words | 3 Pages
Economics - 1531 Words
Role of consumers:
- consumers: all individ.s in ec. that consume goods and services to satisfy needs and wants
- consumer sovereignty: refers to the fact that patterns of consumers spending determine patterns of production.
Through spending dec. consumers express their preferences.
Factors influencing individual consumer choice:
Income: disposable income – after tax (main determinant on consumer spending)
More income, more demand for good and services
1,531 Words | 9 Pages
Economics - 3134 Words
Honda Motor Co,. Ltd
Find an annual report of a company that interests you. Use the economic theories that you have learnt to analyse the report. Make comments and suggestions/recommendations to this company’s business strategy. Use the latest economic news to support your findings, comments and suggestions/recommendations.
The car industry is a complex industry due to the large number of products, markets, buyers,...
3,134 Words | 10 Pages
Economics - 14152 Words
Basic economic problem –
Capital capital goods, or real capital are those already-produced durable goods that are used in production of goods or services.
Command economy – economy where supply and price are regulated by the government rather than market forces
Division of labour - Division of labour is the specialization of cooperative labour in specific, circumscribed tasks and like roles
Enterprise- simply another name for a business.
Free market economy - is an economy...
14,152 Words | 47 Pages
Economics - 3491 Words
Intermediate Microeconomic Theory
Section I: Multiple Choice
Indicate the best answer in the space provided to the right of each question.
1. After some level of output, marginal cost begins to rise because B
(a) total costs always increase.
(b) marginal product eventually decreases.
(c) poorer quality inputs are hired as output expands.
(d) average variable costs eventually increase.
2. If an isoquant is given by Q = 5L + 4K, it implies...
3,491 Words | 15 Pages
Economics - 305 Words
conimists- 16th and 17th centuries.
Father of Economics/ Father of the classical school of economic thought- Adam Smith (In 1776, he wrote 'An enquiry into the nature and causes of the Wealth of Nations')
According to Smith, self interest was an invisible hand which would work for the common benefit of the community.
The Great Depression of 1929 was a phase in which supply exceeded demand. John Maynard Keynes (a British economist)...
305 Words | 2 Pages
Economic - 481 Words
Chapter 1 Assignment
Q1-2 Explain how the valuation model given in Equation 1.2 could be used to describe the integrated nature of managerial decision making across the functional areas of business.
This equation can be used to examine how the expected value maximization model relates to firm’s various functional departments. The marketing department often has primary responsibility for promotion and sales (TR); the production department has primary responsibility for development costs...
481 Words | 2 Pages
Economic - 2219 Words
MBA Economic Assignment
Many analysts in both developed and developing worlds have heavily criticized the cases of monopolies. Discuss using relevant examples whether it is a good policy for the government to completely eliminate monopoly power.
Monopoly is a market structure which eliminates any form of competition in the long run. In the short run, the monopolist firm usually enters the market with an apparent disguise of another ‘player’ in the market, however, as time goes...
2,219 Words | 7 Pages
Economics - 671 Words
RECAP - MODULE
Introduction to macroeconomics
Measuring performance of the economy
The Monetary Sector
The Public Sector
Economic growth and development
The foreign sector
THE PUBLIC SECTOR:
STUDY UNIT 4
What are Your Views on Fiscal
Policy and How Fiscal Policy
Roles of Government in a mixed economy
1. Establishing and enforcing rules of exchange
such as Property rights, Contract...
671 Words | 0 Page
Economics - 3677 Words
Impact of US Recession of 2007-08 on Indian Economy and recommendations for future
Date: August 28, 2014.
CONTENTS PAGE NOS.
Backdrop of the crisis
(i) Boom in World Economy and Thriving Asset Prices
(ii) Growth in US Economy - Interest Rate Cut and Deregulation
(iii) Failure of the US Leadership in Anticipating the Crisis
Development of the crisis
(i) Sub-prime mortgage
(ii) Securitization and Repackaging of Loans
3,677 Words | 13 Pages
Economics - 1263 Words
Week 4 Individual Assignment Market Structure
Week 4 Individual Assignment Market Structure
Perfect competition Monopoly Monopolistic competition Oligopoly
Example organization Grocery Stores (Piggly Wiggly)
Alliant Energy Under Armor Ford Motor Company
Goods or services produced by the organization Sells food and other house hold necessities
Electric Power company Sporting Goods (clothing) Automobiles
Barriers to entry Very low
1,263 Words | 4 Pages
Economics - 2188 Words
Investment within a country can be seen as a vital component in terms of promoting economic prosperity. This essay is going to outline the importance of investment in terms of current and future economic activity by examining the effect of investment on growth and employment. The importance of the ability of the South African government to differentiate between private and public investment will be addressed by the use of a graph illustrating the investment rates of the private and public...
2,188 Words | 7 Pages
Economics - 2041 Words
Question 1. What are the vital functions of an Economy? Explain the price mechanism.
An economy refers to the financial system of the region, province or nation. "It is a system by which folks get a livelihood." For instance the "Economy includes farms, factories, mines, shops, banks, roads, railways, aircrafts, offices, schools, cinemas etc., which grants the people with the goods and services which they also use themselves or sell overseas in order to be able to buy imports." Sir...
2,041 Words | 6 Pages
Economic - 708 Words
Case study #5: Milk Price War
1. What are the main issues?
* Main Issues:
* Coles and woolies have decreased the price of milk ( 2 litre bottle of own- brand milk just $2)
* Based on saving my by Coles and Woolworths customer following the lower milk price; they saved $175 million
* Based on saving my by Coles and Woolworths customer following the lower product price; they saved $500 million
* Coles and Woolworths have control the milk price...
708 Words | 3 Pages
Economics - 1644 Words
Lecture notes – Week 1
Chapter 1 – Microeconomics: A Way of thinking about business (and life!!!)
The bottom line
Property rights are crucial to the efficient allocation of resources that are depleted or devalued in some way when used and when transaction costs are low. They can be a problem when transaction costs are high and the use of the resource does not deplete the resource or devalue it.
1) What is economics about?
a) What and how...
1,644 Words | 7 Pages
Economics - 859 Words
If an economy is operating at a point inside the production possibilities curve,
Selected Answer: a. its resources are not being used efficiently.
. Question 2 .0.5 out of 0.5 points
The opportunity cost of an action is
Selected Answer: d. the highest valued alternative forgone as the result of choosing an option.
. Question 3 .0.5 out of 0.5 points
"If I didn't have a date tonight, I could save $75 and spend this evening Watching Football on TV."...
859 Words | 4 Pages
Economics - 2463 Words
Philippines Economy To Survive Haiyan
Despite a terrible human toll, Haiyan is unlikely to derail the nation’s impressive economic performance.
By Anthony Fensom
Asia’s “strong man” economy of the Philippines is considered tough enough to weather the effects of Typhoon Haiyan. Yet even after the deadliest typhoonin the nation’s recorded history, analysts have warned of potentially worse storms ahead.
After making landfall on November 8, Haiyan (known as Yolanda in the Philippines) flattened...
2,463 Words | 7 Pages
Economics - 652 Words
REVIEW: MIDTERM #2
MICROECONOMIC PRINCIPLES-1102, section #11
Professor Ardy Lynn Wurtzel
Please use Sarah's Utility chart below to determine what combination of Clothing and
Shoes would maximize her utility (find her consumer eq uilibrium)-10pts.
[1lzt: Complete the charl's (1) MU/$ column, the (2) TU (Clothing & Shoes) column and the
(3) Income Spent column. This will allow you to solve for consumer equilibrium.]
Price (per unit): S1O.0O
652 Words | 12 Pages
Economics - 484 Words
UNIVERSITY OF DELHI DELHI SCHOOL OF ECONOMICS DEPARTMENT OF ECONOMICS Minutes of Meeting Subject : Course : Date of Meeting: Venue : Convenor Attended by: 1. Basanti Kumari Nayak, Satyawati College 2. Supriti Mishra, Shyam Lal College 3. Chhavi Gautam, Kamla Nehru College 4. Lokendra Kumawat, Ramjas College 5. Rashmi Mittal, Dyal Singh College 6. Reetika Rana, Shivaji College 7. Punam Tyagi, Kalindi College 8. Aditi Aeron Bansal, Shaheed Bhagat Singh College 9. Vandana Sethi, Motilal Nehru...
484 Words | 2 Pages
Economics - 2445 Words
1. Explain economics?
Economics is the study of how society allocates scarce resources and goods. Resources are the inputs that society uses to produce output, called goods. Resources include inputs such as labor, capital, and land. Goods include products such as food, clothing, and housing as well as services such as those provided by barbers, doctors, and police officers. These resources and goods maybe be considered scarce because of society's tendency to demand more resources and goods than...
2,445 Words | 7 Pages
Economics - 1427 Words
WEST AFRICAN SENIOR SCHOOL CERTIFICATE EXAMINATION ECONOMICS
This syllabus is designed to expose students to the basic economic principles as useful guide to rational decision-making relating to individuals, business, government and society in general; and to enhance their understanding and appreciation of economics not only as an academic field of study but also as a practical subject.
At the end of the three-year course, students are expected to: 1. be acquainted...
1,427 Words | 9 Pages
Economics - 711 Words
Economics is the social science that studies the behavior of individuals, households,
and organizations (called economic actors, players, or agents), when they manage or
use scarce resources, which have alternative uses, to achieve desired ends. Agents are assumed to
act rationally, have multiple desirable ends in sight, limited resources to obtain these ends, a set of
stable preferences, a definite overall guiding objective, and the capability of making a choice. There
exists an economic...
711 Words | 3 Pages
Economics - 2501 Words
COURSE: BACHELOR OF COMMERCE (BCOM)
UNIT: INTRODUCTION TO MACRO-ECONOMICS
QUESTION: MICRO-ECONOMICS AND MACRO-ECONOMICS
Economics is the foundation of all commercial activity and comprises two areas: microeconomics and macroeconomics. Macroeconomics is concerned with the big picture, for example, the national economy and gross domestic product. By contrast, microeconomics is concerned with the small picture and focuses on theories of supply and demand. Microeconomics is...
2,501 Words | 8 Pages
Economics - 471 Words
An Econmics View Point on Airline Tickets.
The Supply and Demand for Air faire
The main goal of any product or service in the market is for it to be produced at a low cost and the ability to turnover the product at a high profit. In Our book, this theory is defined as, “Economics of a business” in depth it means the key factors that affect the ability of a firm to earn an acceptable rate of return on its investments. Which leads to the three basic economic questions one, which goods...
471 Words | 2 Pages
Economics - 4877 Words
Topic 4: Late 19th Century Theories
1. Continental thought in the early 19th Century was shaped by a philosophy that rejected material things in favor of a search for inner truth. This philosophy was (a) Cartesian rationalism. (b) classical economics. (c) Marxian economics. (d) social rationalism. (e) dialectical materialism.
2. A school of thought influenced by Auguste Comte’s determinism, and which contended that Ricardians “confined the observations on which they based their...
4,877 Words | 16 Pages
Economics - 16334 Words
1. Distinguish between Micro economics and Macro economics.
Microeconomics may be defined as that branch of economic analysis, which studies the economic behavior of the individual unit, maybe a person, a particular household, or a particular firm. It is a study of one particular unit rather than all the units combined together. In microeconomics, we study the various units of the economy, how they function and how they reach their equilibrium. An important tool used in that of microeconomics...
16,334 Words | 49 Pages
Economics - 328 Words
Economics is production, distribution, and consumption of goods and services, or the material welfare of humankind. A couple things ive learned in economics class is the free market system and how goods and services can determine a free interprice system. It also helps us to know what is relationship between demand and supply. Another thing i learned about was how to plan a business and what is needed to make this business become successful by doing the business plan project which made me...
328 Words | 1 Page
Economics - 677 Words
UNIVERSITI TEKNOLOGI MARA
INSTRUCTIONS TO CANDIDATES
This question paper consists of six (6) questions.
Answer only five (5) questions in the Answer Booklet. Start each answer on a new page.
Do not bring any material into the examination room unless permission is given by the...
677 Words | 7 Pages
economics - 587 Words
- Financial flows
Deregulation of financial markets (less rules and regulations in currency markets and foreign investment) led to a rapid increase in FDI and portfolio investment. Investment makes economies more integrated as economic changes in one country influence others (CONTAGION e.g. negative effects such as the GFC and the EDC or positive effects such as new technology and booming economies). The main benefits are that it enables countries to finance their domestic economy even if...
587 Words | 2 Pages
Economics - 425 Words
PROGRAMME: MASTER OF BUSINESS ADMINISTRATION (MBA): GENERAL AND TOURISM- YEAR ONE MODULE: ECONOMICS DATE: 21 NOVEMBER 2011 DURATION: 3 Hours EXAMINER: Mr I Govender INTAKE: JANUARY 2011 TIME: 09h00 – 12h00 TOTAL MARKS: 100 MODERATOR: Dr D Mukuvisi
INSTRUCTIONS TO THE CANDIDATE:
1. Questions must be attempted in the answer book provided. 2. All queries should be directed to the invigilator; do not communicate or attempt to communicate with any other candidate. 3. You have...
425 Words | 2 Pages
economics - 347 Words
2. Why isn’t money consider a capital in economics?
Capital is a physical asset, which can be used to produce goods and services. Money is related to capital, in that it can be used to purchase capital, but it is not itself capital. The distinction is important if you consider that money can be created or destroyed through the expansion or contraction of credit, but this does not create or destroy any real capital. Money is capital. Money is the most common form of capital. Raising capital...
347 Words | 1 Page
Economics - 2969 Words
A perfectly competitive market is a hypothetical market where competition is at its greatest possible level. Neo-classical economists argued that perfect competition would produce the best possible outcomes for consumers, and society. Ex:- Wheat, rice
Perfectly competitive markets exhibit the following characteristics:
1. There is perfect knowledge, with no information failure or time lags. Knowledge is freely available to all participants, which...
2,969 Words | 10 Pages
Economics - 6240 Words
The Indian Economy Since Independence
India Wins Freedom On 14 August 1947, Nehru had declared: “Long years ago we made a tryst with destiny, and now the time comes when we shall redeem our pledge. The achievement we celebrate today is but a step, an opening of opportunity, to the great triumph and achievments that await us.” He reminded the country that the tasks ahead included “the ending of poverty and ignorance and disease and inequality of opportunity”. These were the basic foundations...
6,240 Words | 18 Pages
#Economics - 708 Words
Money Market on the Nigerian Economic Development
Mr. Okpe Innocent Ikechukwu
Department of Accountancy, Enugu State University of Science and Technology, Enugu, Enugu State of Nigeria
The objective of this study is to examine the impact of money market on the Nigerian economic development; it has been prepared as a contribution to the quest for promotion of entrepreneurship as an engine growth. To access the multidimensional role and medium scale enterprises in bringing out rapid...
708 Words | 2 Pages
Economics - 1345 Words
Economics | |
|Sr. No. |Core Areas |Percentage |
|1. |Micro-Economics |15% |
|2. |Marco-Economics |15% |
1,345 Words | 9 Pages
Economics - 718 Words
Name_________________________________ Key Vocabulary Terms NeedsWantsScarcityEconomicsEntrepreneurTrade-offSpecializationGoodsServicesConsumerProducerLaborCapitalUtilityMarginal UtilityOpportunity CostEconomic SystemMarketProfitDemandSupplyElastic-
Economics Final Exam Study Guide
Name_________________________________ InelasticPartnershipCorporationSole ProprietorshipMonopolyOligopolySurplusShortageIncentiveWagner Act of 1935Collective BargainingBoycottAntitrustGross National Product...
718 Words | 9 Pages
Economics - 999 Words
An American social entrepreneur, David Green, recently stated the following: “Let’s face it. The market economy is based on a fundamental deception: I (a company) know how much it costs to make something, and I’m going to fool you, the consumer, into paying as much as possible. I find this assertion false and misguided. While some markets are more desirable than others, no one is being fooled into paying as much as possible. In the following essay I will evaluate...
999 Words | 3 Pages
Economics - 1016 Words
Assume a consumption function that takes on the following algebraic form: C = $100 + .8Y. Assume that Y = $1000 what is the level of consumption at this income level.
C = $100 + .8($1000) = $100 + $800 = $900.
1. Using the above figure calculate the marginal propensity to consume between the aggregate income levels of $80 and $100. Also explain why this consumption function is linear.
The marginal propensity to consume is equal to $15/$20 = .75. The...
1,016 Words | 5 Pages
Economics - 250 Words
1. a) Use economics to explain why diamonds are more expensive than water when water is necessary for survival and diamonds are not.
We are led to believe that water is abundant and of little value as a commodity while diamonds are treated just the opposite. We are told they are rare, are precious. Water will just become stagnant if not kept in a safe place but not to worry because the moisture drawn into the air will eventually form clouds and rain and the stuff will fall all over the...
250 Words | 1 Page
ECONOMICS - 25334 Words
THE NATIONAL INCOME
One of the basic questions facing economics centers on whether the total output
of goods and services is growing from year to year or it remains static. This
question is very important because countries are keenly interested in the
performance of their economy. National income estimates enable countries to
calculate the total production of goods and services in a year. The lecture also
focuses on the measurement of national income and their problems,...
25,334 Words | 122 Pages
economics - 3199 Words
International Journal of Economics and Financial Issues
Vol. 3, No. 3, 2013, pp.743-751
Foreign Aid and Economic Growth in Egypt: A Cointegration Analysis
Hoda Abd El Hamid Ali
Department of Economics and Foreign Trade,
Faculty of Commerce and Business Administration,
Helwan University, Cairo, Egypt. Tel: 00201003452575.
Email: [email protected]
ABSTRACT: There is a current and growing debate on the effectiveness of foreign aid, especially in...
3,199 Words | 12 Pages
Economics - 599 Words
1. Below is a list of topics in usually studied in
economics. Determine whether each topic deals under
the area of microeconomics or macroeconomics.
a. How Bangko Sentral ng Pilipinas influences the
consumer spending in the Philippines.
b. How a household decides what LPG brand to buy.
c. How a firm decides whether to continue business or
d. How debt affects the income gap among Filipinos.
e. How new parents decide whether to work or stay at
home with their children.
599 Words | 3 Pages
Economics - 2060 Words
Terms and Definitions related to Economics
Administered price: A price set not by the forces of demand and supply, but by some authority like the Government or a regulatory authority.
Agenda 21: Programme of action adopted at the Earth Summit in 1992. It has 21 chapters dealing with all aspects of sustainable development, conservation, and resource management.
Appropriation Bill: A bill introduced in the Parliament together with the budget, seeking the approval of the House to permit...
2,060 Words | 6 Pages