1. Bagel restaurant is likely to be a constant industry because it is in the perfect competition industry. Bagel restaurant is in the perfect competition industry because there are few entry barriers in this industry. Anyone could enter this industry. In the short-run‚ existing firms might get profit just as the case of George’s bagel chain. However‚ in the long-run‚ the profit attracts new competitors into this industry‚ causing price competition. Because each firm will produce at the point where
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Professor Soumyajit Sukul ECON 210 15 November 2009 What is Economics? Economics is the concept that contracts the manufacture‚ allotment‚ and use of produce and services. It is the study of how the use of inadequate resources will best satisfy the wants‚ needs and desire of the greatest number of people. The study of economics over the years as nations continues to connect globally has become tremendously important aspect. Economics consists of a large number of subdivisions with the two
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Master Circular on Priority Sector Lending (Updated upto 30 June‚ 2004) (The Master Circular is also available at RBI Website www.rbi.org.in and may be downloaded from there) RESERVE BANK OF INDIA Urban Banks Department Central Office‚ Mumbai RBI/2004/ 12 BPD(PCB)MC. No. 1 /09.09.01/2004-05 July 2‚ 2004 Chief Executive Officers of All Primary (Urban) Co-operative Banks Dear Sir‚
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Benefits of Payday Loans When it comes to payday loans‚ there are both benefits and disadvantages associated with them. It is imperative that an individual become educated and aware of both the pros and cons before signing up and applying for one or more payday loans. In fully understanding both the pros and cons the applicant can make informed and knowledgeable decisions during and after the application process. Pros of Payday Loans When applying for payday loans‚ (also commonly called
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Alternative/dominant and resistant readings Dominant readings are the most common and widely-accepted interpretations of a given text. An alternative reading is any reading that differs from the commonly-accepted interpretation. A resistant reading is an alternative reading that contradicts the dominant reading. Think about the words resistant (the noun form of the verb to ’resist’) and dominant (the noun form of the verb to dominate) and it will help you to retain the meanings of the terminology
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Name: CREDIT & LENDING Word Count: 2701 Number of Pages: 15 Statement of Authenticity To be completed by all students Unless otherwise stated‚ this assignment and its appendices are all my own work. Name of Candidate: LOVY JEAN Student Number: Signed: Date: Dec 8‚ 2013 QUESTION 1: In general terms‚ banking involves the business activity of accepting customer’s deposits at a small cost to the bank and then lending those funds to
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The dominant Economic and Business characteristics of the global beer industry are: The beer industry is incredibly large industry that has an enormous effect on the country‚ contributing greatly to the society. Two of its main contributions include tax dollars and jobs. The beer industry serves the country through its taxes‚ jobs‚ and purchases from other suppliers‚ its contribution to agriculture and more. The market growth rate of the beer industry is perplexing which is evident through following
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SECTOR LENDING Some areas or fields in a country depending on its economic condition or government interest are prioritized and are called priority sectors i.e. industry‚ agriculture. These may further be sub divided. Banks are directed by the state bank of the country that loans must be given on reduced interest rates with discounts to promote these fields. Such lending is called priority sector lending. The different segments of the priority sector are as follows: 1. Agriculture 2. Small
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Economic Factor Affecting Automobile Sector. 1. Excess Capacity. According to CSM Worldwide‚ an automotive research firm‚ in 2004 the estimated automotive industry global production capacity for light vehicles (about 74 million units) significantly exceeded global production of cars and trucks (about 60 million units). In North America and Europe‚ the two regions where the majority of revenue and profits are earned in the industry‚ excess capacity was an estimated 17% and 13%‚ respectively
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Chapter 2 Identifying Key Terms 1. Other terms for the market economic system are capitalism and invisible hand. 2. Many American believe that their economic system accounts for the high______ in the United States 3. The concept of _____ allows people to buy and own land‚ a home or their own business. 4. The____ can make profits or incur great losses. 5. A person may keep the___ they earn from selling. 6. Most people live in countries that have a ____. 7. Adam Smith said the economy is directed
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