whether each of the following statements applies to microeconomics or macroeconomics‚ and why: 12 Marks Total a. The unemployment rate in Canada was 7.0 percent in January 2010 Answer: This is the macroeconomic statement because it describes the unemployment rate of the whole country. b. A Canadian software firm discharged 15 workers last month and transferred the work to India. Answer: This is the microeconomic statement because it focuses in an individual Canadian
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Chapter -1 1. The study of microeconomics includes the study of - Output and employment growth as markets expand in reaction to a rising price level in the economy. - Business investment and government spending in the marketplace. - The number of new jobs and income created as the economy grows. - How firms‚ workers‚ consumers‚ and investors interact and make decisions in the marketplace. Microeconomics is the study of the behavior of individual economic units: consumers‚ firms‚ workers and
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Has lost electrons; indicated by a positive sign‚ as in Na+ 2 : Molecule that dissociates in water to form individual ions‚ ionic compound 3 : Substances whose molecules have more than one kind of atom 4 : Positively charged particle in nucleus 5 : Function is to store energy for later use M. 6 : Alkaline 7 : Double sugar made up of two monosaccharide units 8 : A group of atoms bound together in a group 9 : Non-charged particle in nucleus 10 : Chemical systems that absorb excess acids or bases
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Unit 3 Wider Professional Practice 1. Understand the concept of professionalism and core professional values in the lifelong learning sector 1.1 Analyse key aspects of professionalism in the lifelong sector . Define professionalism min 2 definition and compare them Webster’s Dictionary defines professionalism as the conduct‚ aims or qualities that characterize or mark a professional person (1). Meanwhile Oxford dictionary defines it as the practising of an activity‚ especially a sport‚ by professional
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reference Then‚ go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name‚ the course title and the Unit and Assessment number. Name: Daniel Booth Please note that this Assessment document has 14 pages and is made up of 3 Parts. Part 1: Understand food labelling 1. Identify the nutritional information that must be provided on food labels. On food labelling nutritional information must be showing
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Microeconomics study guide Chapter 6 Notes: Firms and Production A firm converts inputs into outputs What firms want: 1. Profit : π = R - C 2. efficient production to maximize π -efficient production alone is not sufficient to ensure a firm’s π is maximized How they are organized 1. information exchange 2. incentives for workers Production Function q = f(L‚K) relationship b/w quantities of inputs used & max quantity of output that can be produced given current knowledge about
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UNIT 3 1.1 Explain what is meant by diversity‚ equality and inclusion. Diversity; this is the difference in people’s culture‚ color‚ race‚ background‚ moral believes and religion. In other for diversity to be effective‚ people need to accept others for who they are in the society such as people who do not share the same values. In health care‚ the diversity range from elderly‚ mental health‚ disabilities and race. Care assistants meet different types of people from different background during
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MICROECONOMICS CHAPTER 1 The Market Economy What is to be done? —Lenin When future historians look back on the close of the 20th century‚ one of the most sweeping changes they will note is the collapse of centrally planned economies in Eastern Europe. It is not far off to say that the Cold War between the United States and the Soviet Union was won not by the armies of the United States and its allies‚ but by the productive power of Western market economies. Mikhail Gorbachev‚ then leader of the Soviet
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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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Unit 3 Supporting children E1 - current laws that influence working practices in a setting for children are -United Nations Convention on the Rights of the Child 1989/1991 ‚ Children Act 1989 ‚ Children Act 2004 ‚ Equality Act 2006 ‚ speacial educational needs and disability act 2001. E2 - Uncrc legislation influence working practices in the setting by giving children their own special rights and allows childrens views to be heard.it defends the familys role in childrens lives ‚ respects children
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