SUBJECT NAME : MICROECONOMICS SUBJECT CODE : BEC1001 ACADEMIC YEAR : AY 2012/2013‚ OCT SEMESTER “By submitting this work‚ we are declaring that we are the originators of this work and that all other original sources used in this work have been appropriately acknowledged. We understand that plagiarism is the act of taking and using the whole or any part of another person’s work and presenting it as our own without proper acknowledgement. We also
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Limited resourcesTime‚ money. * Inability to satisfy all of our wants * Faced with scarcity we must choose among available alternatives * Trade offs * Incentive: Reward that encourages and action or penalty that discourages * Microeconomics: Choices of: * Individuals * Businesses * The way these choices interact in markets and the influence of the government * Macroeconomics: * Study of the performance of the national economy and the global economy * E.g.
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I. MICROECONOMIC Micro-environment is preferred as ‘the operating system’ which includes the forces that has significant impacts on and can affect the organization’s ability to operate and serve its customer (Chaffey et al‚ 2009). This is influenced by the need of customers and how services are provided to them through the competitors‚ marketing intermediaries‚ and suppliers within the marketplace (Chaffey et al‚ 2009). 1. Customer Airasia provides to its customers the basic flight carrier
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Everyone has heard of the plant marijuana. It goes by many names such as weed‚ pot‚ keef‚ hash‚ but not a lot of people really know what it can really do. Marijuana is a very controversial plant‚ or drug‚ that has been around the world‚ has had multiple uses‚ and can have incredible effects on the body. The origins of marijuana can be traced all the way back to the beginning of mankind. Many ancient civilizations used it for medical and religious‚ or spiritual‚ properties. The use of this plant
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MARIJUANA (Scientific Name: Cannabis sativa) INTRODUCTION Marijuana is one of the world’s oldest economic plants. Besides providing the material hemp‚ hemp‚ for a lucrative cordage and cloth industry‚ it has been a valuable medicinal drug. The ancient pharmacopoeias of China‚ going back more than 2‚000 years‚ listed marijuana‚ and the plant found favor around the world for its ability to ease pain‚ induce sleep‚ and soothe a variety of nervous disorders. Usually
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Marijuana paper Research Paper In today’s society there are a list of many banned drugs which in coincidence are the five most used drugs by most individuals. These drugs are methamphetmine‚ cocaine heroine‚ ecstasy and marijuana‚ out of all five of these drugs one that I believe to be the most scrutinized is marijuana‚ known also as cannabis. I believe this drug is the most harmless illegal substance in the world‚ especially when compared to its counterparts. Marijuana not only has the least
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Fundamentals of Microeconomics In the world today product and services are both key to the survival of mankind. Depending on the demand from consumers‚ companies will see an increase or decrease of the items they produce or the service rendered. In the article of trends in US gasoline and ethanol use and petroleum production and imports these items will be looked at; as well as a discussion of the fundamentals of microeconomics. First‚ in order to understand what the fundamentals of microeconomics are
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Niral Patel Comp 111 8/10/2012 Research Paper Why Marijuana Should not be Legalized? In America today‚ marijuana is the most commonly used illegal drug. The name marijuana is a Mexican slang word‚ which became popular in the 1930’s‚ which refers to the medicinal parts of the cannabis plant. Marijuana is a green‚ brown‚ or gray mixture that is created through drying the leaves and flowering tops of the cannabis plant. Some of the more popular street names are
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Vic’Torrie Turner ENGL101 Research Topic The Effects of Marijuana Marijuana has become one of the most widely used drug in America and some other countries. Marijuana is the dried leaves and female flowers of the hemp plant. Marijuana grows only in certain temperate regions‚ particularly dry and hot lands‚ but with good light‚ good circulation and good soil‚ you can grow it just about anywhere. The effect of using the plant varies according to the user and how it is used. It could have
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The notion of “fairness” is often the justification given for the government intervention in the market. Do you agree or disagree. 1.0 Introduction Fairness in the market can be defined as the equally distribution in the proportion of economic pie to every party. In the past‚ the economic prosperity is not uniformly allocated among the members of society. The wealthier will have a larger proportion of the economic pie whereas the poorer parties will only occupy a smaller part of the economic
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