Name/Student Number: Economics Final Exam College Prep Program Completion Complete each statement. 1. The hope of reward that encourages a person to behave in a certain way is a(n) _______. 2. A bridge is an example of something that is usually provided as a _________. 3. To show how demand for a good will change at specific price points‚ economists use a ____. 4. People will buy more of a good when its price falls and less when its price rises
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Chapter 3: Government and the Economy In your own words‚ explain what an externality is. Externality is very easy to explain. An externality is the measurement of the difference in what something costs for you and what it costs for society in economics. Besides addressing externalities‚ what other important and beneficial roles does government play in our economy? Governments play
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------------------------------------------------- Electricity sector in India From Wikipedia‚ the free encyclopedia Ramagundam Thermal Power Station‚ Andhra Pradesh Sabarmati Thermal Power Station‚ Gujarat The electricity sector in India had an installed capacity of 223.625 GW as of April 2013‚[1] the world’s fifth largest. Captive power plants generate an additional 34.444 GW. Non Renewable Power Plants constitute 87.55% of the installed capacity and 12.45% of Renewable Capacity.[2] India
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MANAGERIAL ECONOMICS ASSIGNMENT Question 1 a. Explain the production possibilities frontier (PPF). [2 marks] b. Analyse what it means for the PPF to be bowed out from the origin (curved)‚ and what it means for the PPF to be a straight line. [3 marks] c. State the Law of Increasing Opportunity Cost and explain why it holds. [3 marks] [TOTAL: 8 MARKS] Question 2 a. “As
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ECON EXAM 3 QUESTIONS Competitive Supply A perfectly competitive firm maximizes profit by producing the quantity at which: MR = MC. Consider a perfectly competitive firm in the short run. Assume the firm produces the profit-maximizing output and that it earns economic profits. At the profit-maximizing output‚ all of the following are correct except: price is equal to average total cost. People in the eastern part of Beirut are prevented by border guards from traveling to the western part of
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we call Electricity. Electricity is the flow of electrical power or charge. It is both a basic part of nature and one of our most widely used forms of energy. It is actually a secondary energy source‚ also referred to as an energy carrier. That means that we get electricity from the conversion of other sources of energy‚ such as coal‚ nuclear‚ or solar energy. These are called primary sources. The energy sources we use to make electricity can be renewable or non-renewable‚ but electricity itself
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Static Electricity Everything is made up of tiny particles called atoms. The atoms are made up of even smaller parts called protons‚ electrons and neutrons. Protons have a positive charge (+)‚ electrons have a negative charge (-) and neutrons have no charge at all‚ they are neutral. Atoms normally have the same amount of electrons and protons‚ making them neutral and having no charge. When rubbing things together‚ electrons can move from one atom to another‚ resulting in some atoms having extra
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Wireless Charger for Low Power Devices Chapter 1 1.1 Introduction We live in a world of technological advancement. New technologies emerge each and every day to make our life simpler. Despite all these‚ we still rely on the classical and conventional wire system to charge our everyday use low power devices such as mobile phones‚ digital camera etc. and even mid power devices such as laptops. The conventional wire system creates a mess when
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---------------------------------------------------------Answer Question 1 (compulsory) from Part I and five questions from Part II. The intended marks for questions or parts of questions are given in brackets [ ]. ---------------------------------------------------------------------------------------------------------------- PART I (20 Marks) Answer all questions. Question 1 Answer briefly each of the following questions (i) to (x): [10 × 2] (i) Define private cost and social
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Instructions Total Marks 40 1. Exam is closed book 2. All questions in Part A and in Part B are compulsory 3. Each question in Part A carries 1 mark & each Question in Part B carries 10 marks 4. All Questions to be answered in the Question Booklet 1. In the diagram above‚ d and MR represent‚ respectively‚ the demand curve and the marginal revenue curve of an oligopolist. The kink in
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