UNIT 1 ECONOMIC ENVIRONMENT OF BUSINESS Objectives After studying this unit‚ you should be able to : • Define what you mean by “environment” • Classify the complex environmental variable on the basis of objective criteria • Identify the critical elements of economic environment of business • Analyse the interactions between economic and non-economic environment • Explain the impact of economic environment on business management; and • Illustrate your understanding of economic environment
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Class Review for Test # 1 Multiple Choice Questions 1) What sociological phrase is used to describe "opening a window onto unfamiliar worlds" and "offering a fresh look at familiar worlds"? A) the sociological perspective B) the social imperative C) social integration D) social location 2) To be classified as a society‚ what are the two key qualities a group of people must share? A) a common language and a common religion B) a common culture and a territory C) a territory
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Q 1)Why do central problems arise in an economy? 1 Marks Ans. Central problems arise in an economy due to scarcity of resources having alternative uses in relation to unlimited wants. Q 2)What is the general shape of the APP curve? 1 Marks Ans. APP curve first rises and then falls when more units of a factor are employed. Q 3)What do the returns to scale refer to? Returns to scale relates to increase in output when all the inputs are increased in the same proportion. Q 4)What are
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Economic SYSTEM IN CUBA The Economic System in Cuba is known to be communism. Communism can be defined as a scheme of equalizing the social conditions of life. This system considers the termination of inequalities in the possession of property as well as the distribution of wealth equally to all individuals. Therefore‚ the means to achieve this is by the collectivization of all private property. By extension‚ collectivization is the process of forming collective communities where property and resources
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1. Explain the events that probably gave rise to journal entries 1 through 8 of exhibit 1. a. Entry 1: Miss barbarra Thompson opened the company investing USD 65‚000.00 cash and USD 100‚000.00 from Bank Borrowings. b. Entry 2: The company paid its Rent amounting to USD 1‚485.00 c. The company bought inventory items worth USD 137‚500.00 on credit. d. The company bought Furnitures and Fixtures (10 years useable life) for cash amounting to USD 15‚500.00 e. The company
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Communication Effectively Worksheet BCOM/275 Business Communications and Critical Thinking February 2‚ 2013 Communicating in the Workplace Assignment 1.1: Communication Process Model Directions: Think of a misunderstanding you experienced when communicating with someone else at work‚ home‚ or school. Then fill in the blanks of the chart below. Who was the sender?I was the sender. I am the Lead of a team in the Collections Department. My team has 17 representatives that work on the phone
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INTRODUCTION TO TELECOMMUNICATION By Michelle Harris A Project Submitted to the Faculty of the Computer Science Department In Partial Fulfillment of the Requirements For the Bachelor’s Degree of MANAGEMENT INFORMATION SYSTEMS In the Graduate College THE PORTMORE COMMUNITY COLLEGE 2013 ACKNOWLEDGEMENTS I would like to take this opportunity to thank the lord for health and strength to complete this project. Special thanks also goes to Ryan Howard one of my class
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short of total output. -Investment spending by businesses is a supplement to the income-expenditure stream which may fill any consumption gaparising from saving. -Keynesian economics hold that there ar etwo other sources of funds which can be made available in the money market: 1)the accumulated money balances‚ 2)lending institutions. -The Keynesian position is that saving and investment plans can be at odds and thereby can result in fluctuations in total output‚ total income‚ employment
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| | | | | | | | | | | | | | | | | | Question 1 1 out of 1 points | | | When are buyers and sellers likely to engage in an exchange? Answer | | | | | Selected Answer: | d. All of the above statements are correct | Correct Answer: | d. All of the above statements are correct | | | | | * Question 2 2 out of 2 points | | | In a transaction for a rare painting valued at $1‚000‚000‚ by an avid collector‚ and at $950‚000 by the
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Speaking Effectively in English’. If you are currently learning English in a school ‚ college or university. Actually you join approximately one billion other people around the world who are engaged in the same pursuit. However as you may memorise and use proper grammar and try to avoid the mistakes common to most students of English‚ you may wonder why you are learning English in the first place. • Important of English as the official second language. So‚ why is speaking effectively in English
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