ECONOMICS conimists- 16th and 17th centuries. hysiocrats (farmers) ercantalists (traders) 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)
Premium John Maynard Keynes Economics Supply and demand
ECM002 Business Economics Instructions: Please answer four out of the following six following questions: Question 1. Suppose Cola- Sol and Miniranda are the only two companies producing a particular type of cola drink in the soft drink industry. Both companies are considering launching a new drink with a light lemon twist. They can launch their products either at a low price or at a high price. The expected net payoffs are the following: If both companies choose a high price strategy‚ Cola-
Premium Economics Consumer theory Game theory
| less than three times as much to GDP as does a MP3 player. | c. | exactly three times as much to GDP as does a MP3 player. | d. | None of the above is necessarily correct. | 8. A farmer sells $50‚000 of apples to individuals who take them home to eat and $75‚000 of apples to a company that uses them all to produce cider. How much of the farmer’s sales will be included as apples in GDP? a. | $0 | b. | $50‚000 | c. | $75‚000 | d. | $125‚000 | 9. The consumption component of GDP
Premium Economics Gross domestic product Macroeconomics
its costs. The ongoing changes occuring in society create an uncertain environment and have an impact on the fuction of the whole organization. Therefore PEST analysis is a useful tool for understanding the ’big picture’ of the environment in which Home Retail Group operates‚ and the opportunities and threats that lie with it. By doing this and looking at the outcome‚ we can take advantage of the oppurtunities and minimize the threats. Since the company is offering every type of product from garden
Premium Home Retail Group Supply and demand Foreign exchange market
P7.6 Optimal Input Mix. The First National Bank received 3‚000 inquiries following the latest advertisement describing its 30-month IRA accounts in the Boston World‚ a local newspaper. The most recent ad in a similar advertising campaign in Massachusetts Business‚ a regional business magazine‚ generated 1‚000 inquiries. Each newspaper ad costs $500‚ whereas each magazine ad costs $125. A. Assuming that additional ads would generate similar response rates‚ is the bank running an optimal mix of newspaper
Premium Marginal cost Advertising Variable cost
Economics 101 Spring 2011 Answers to Homework #1 Due 2/2/11 Directions: The homework will be collected in a box before the lecture. Please place your name‚ TA name and section number on top of the homework (legibly). Make sure you write your name as it appears on your ID so that you can receive the correct grade. Please remember the section number for the section you are registered‚ because you will need that number when you submit exams and homework. Late homework will not be accepted so make
Premium Economics Linear equation Analytic geometry
tension is with entertains they self. Movies are the most popular ways to entertaining our self. There are two ways to watching movie‚ going to cinema or watching at home. There are some similarities watching movie at cinema and watching movie at home. We can bring our friends and family to watching movie at cinema or watching movie at home. We can bring our friends and family to cinema but we must book the seats early. If we watching movie alone we will feel lonely and not enjoying the movie. By watching
Premium Surround sound Movie theater Film
we have begun to produce home appliances control system that makes anything possible for the people especially elderly and handicapped to live by themselves and meet their potentials. The recent drive in the Information and Communication Technology (ICT) industry toward new wireless communication devices and systems and their utilization in addressing a wide variety of real-world problems have resulted in several new areas of active research and wireless home automation being one such hot
Premium Wireless Computer network Home automation
none of the above. 6. Which of the following is mentioned in the text as a possible means by which the government may attempt to improve its balance of trade position (increase its exports or reduce its imports). a. It could attempt to reduce its home currency’s value. b. The government could require firms to engage in outsourcing. c. The government could require that its local firms pursue outsourcing. d. All of the above are mentioned. 7. If a country’s government imposes a tariff on imported
Premium Economics Investment Corporation
well. According to U.S. census data there were around 5.5 million stay-at-home parents in 2006 and only about 159‚000 of them were fathers. Though this seems a bit lopsided‚ the number of stay-at-home fathers has grown over 60% since 2004 (Randall: par 5). How does this alarmingly growing number of stay-at-home fathers feel about their lives‚ and why is the number growing so rapidly? If the number of stay-at-home dads has risen so drastically in the past few years they cannot all be miserable
Free Family Gender role Men