Principles of Macroeconomics Coursework Rodoula Makri ECON101-EN Question 1: a) Price of substitute good falls - As seen on the diagram above when price of substitute product A rise‚ then demand for substitute product B rises accordingly. Positive relationship between the two. Shift to the right. b) Taste shifts away from the good - Whe the taste shifts away from the good it becomes less desirable‚ making its demand for it decrease. Shift to the left. c) Price of complimentary good
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complex‚ and where the changes are more frequent‚ the firms have to demonstrate a great adaptability and a high degree of agility to maintain or increase their competitiveness and their market share. The key word embedded in the daily business by most of the companies is the CREATIVITY‚ involving to create an environment and a process of thinking leading to the generation of new ideas relevant and feasible. This concept of creativity can be applied either in the conception and development of new
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In 1968 Dr. Laurence J. Peter and Raymond Hull put into print a book called The Peter Principle: Why Things Always Go Wrong which describes a simple observation that states anything that works is often used in progressively more challenging applications until it fails. This means that a machine will only function optimally at the tasks it was specifically designed for and once it is used beyond its intended task its usefulness will degrade or the machine will utterly fail. This also applies to
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BUSINESS ENVIRONMENT (PART-1) COMPONENTS OF BUSINESS ENVIRONMENT 1. INTRODUCTION Hello! Students‚ welcome to series on business environment. The topic of this lecture is Components of Business Environment. The objectives of this lecture are to make you understand the meaning of business environment‚ relationship between business and business environment‚ characteristics of business environment and to study the various components of the business environment. In the last lecture we studied that
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something that you have to have to get by in this world; a necessity. In your personal life‚ you need food‚ shelter‚ clothing‚ medical care -- the basics. You will probably experience physical suffering of some sort if you don’t have your needs met. In your business‚ you also have some basic needs -- business cards‚ basic office equipment and supplies‚ a scheduling and follow up system‚ involvement in some networking activities‚ and generally some professional development or continuing education for your
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Sophie Harrison Unit 4223-010 Principles of Safeguarding and Protection Outcome 1 Know how to recognise the signs of abuse 1.1 Define the following types of abuse Physical abuse – contact indented to cause feelings of intimidation‚ injury or other physical bodily harm Sexual abuse – knowingly causing someone to engage in an unwanted sexual act by force or threat Emotional/psychological abuse – a person subjecting or exposing another to behaviour that can result in psychological
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INSTITUTE OF BUSINESS MANAGEMENT Assignment on PRINCIPLES OF ECONOMICS Master in Business Administration Q. Suppose the price elasticity of demand for text books is two and the price of the text book is increased by 10%. By how much does the quantity demand fall? Inter the result and discuss reasons for the fall in quantity demand? INTRODUCTION Elasticity is the ratio of the percent change in one variable to the percent change in another
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Introduction The role every manager must fill in the workplace is leadership. Managers often make the mistake of assuming that because they are the managers‚ they are also the leaders and that their associates will automatically follow. In reality‚ position only denotes title‚ not leadership. Peter Northouse (2001) defines leadership as a process whereby one individual influences a group of individuals to achieve a common goal. To be an effective leader‚ the manager must influence his associates in a
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The most significant case in my life where the disclosure principle played a role was the purchase of our house. Soon after we bought our new property in a well-known suburb of Sofia‚ problems came to light. When we were buying the house‚ we knew that it was not in a perfect condition‚ but we were unaware of many of the problems that we faced later. Because we bought the house from acquaintances‚ we did not find it necessary to hire a private inspector to do full inspection prior to the purchase
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Goal Setting: A Managers Role vs. the Employee ’s Role "How do you get your employees to perform better?" "Are your employees focused‚ motivated‚ organized and driven?" "What goals have been established for your employees?" These are a few of the many questions I asked to multiple managers within the company that I work for. Being a relatively new employee‚ working there for a little over a year‚ I wanted to ask these questions. Not to see how different managers felt about specific
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