TEST YOURSELF IN BUSINESS LAW 1 (OBLIGATIONS AND CONTRACTS) Part I The juridical tie that binds the parties in an OBLIGATION is determined by the sources of Obligation. Mora Accipiende and Mora Solvendi are two kinds of delay. An Obligation with a Condition AND an Obligation with a Period refer to the same kind of Obligation. Acts of Man and Acts of God are considered Fortuitous Event under our Civil Code. There can be Joint Obligation in an INDIVISIBLE OBLIGATION. The principal
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Economics is known as the study of scarcity. Scarcity is the fundamental economic problem of having seemingly unlimited human needs and wants‚ in a world of limited resources. To minimize scarcity we need to make choices‚ this is where the five e’s of efficiency come in to play. Economic growth is the increase in the ability to produce new resources. This is caused by having more resources‚ better resources‚ and having better technology. To achieve maximum satisfaction we need to use our existing
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Ethiopia as a Less Developed Country By: Danielle McGrady i. Ethiopia According to the United Nations Economic and Social Council‚ Ethiopia is considered one of the forty-eight least developed countries (LDC). The list of LDC are looked over every three years and this list was recently updated in March 2012. To be considered a least developed country‚ the Committee for Development takes into consideration these three factors: “ (A.) A per capita income criterion‚ based on a
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THE INFORMATION BELOW IS THE FORMAT IN WHICH THE SCHOOL BASED ASSESMENT FOR ECONOMICS MUST BE DONE. Report Use American Psychological Association (APA) style 1. 12 font 2. Times New Roman 3. 1.5 space between lines 4. Number the pages - top right hand corner After you have been advised that your report has met the required criteria‚ and you have made ALL corrections‚ place the pages in a soft folder with a transparent cover. The pages must be punched and secured in the folder. An alternative
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Chapter 2 Homework Set 1. Indicate what types of resources each of the following is: a. Capital b. Land c. Entrepreneur d. Labor 2. If money GDP increased by 4 percent and the price level increases by 1 percent‚ what is the approximate impact on per capita real GDP? e. 4 3. Which of the following products or services would be counted in US GDP when produced? f. No g. Yes h. Yes i. No 4. In 2003‚ Microsoft lowered the
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1.1 Economic background of Bosnia and Herzegovina (B&H) Bosnia and Herzegovina was among the poorer areas of the old Yugoslav Federation and remains one of the poorer countries in Europe. Agriculture remains in private hands‚ but farms have been small and inefficient‚ and net food imports increased dramatically in the aftermath of the 1992-1995 war. Many industries are still overstaffed‚ reflecting the legacy of the centrally-planned economy‚ though limited privatization has improved efficiency
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Red tama ung wlang highlight mali un.. haha 1 Suppose that a consumer’s income triples. However‚ at the same time‚ both the price of and the price of also triple. This consumer has experienced Response: no change in purchasing power. * Edit Question 2 Suppose the price of is PhP20 and the price of is PhP10 and that good is plotted on the horizontal axis. If the price of doubles and the price of triples‚ leaving the consumer’s income unchanged‚ the budget line Response: will shift out from
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Question 1: Per hour‚ Kim can produce 40 pies OR 400 cakes‚ whilst Liam can produce 100 pies OR 200 cakes. a. Calculate Kim’s and Liam’s opportunity costs of producing one pie. Kim’s opportunity cost of producing a pie is 400/40 = 10 cakes per pie. Liam’s opportunity costs of producing a pie is 200/100 = 2 cakes per pie b. If Kim and Liam spend 30 minutes of each hour producing pies and 30 minutes producing cakes‚ how many pies and cakes does each of them produce? Kim produces 20 pies and 200 cookies
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Kim 6 ASSIGNMENT 1 1. Chapter 1 (page 34) 1) Why is economics central to an understanding of the problems of development? It is because that the development of a country depends on economic factors. Economics helps you to interpret how a country is developing‚ economic policies of a country that determine whether or not it develops and how fast it develops if it performs. In addition‚ economics helps you to understand how wealth and finance are distributed‚ and the causes and effects of borrowing
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Assignment 3: Economics 202 Problems for Chapter 13 1. Economists in Funlandia‚ a closed economy‚ have collected the following information about the economy for a particular year: Economists also estimate that the investment function is: where r is the country’s real interest rate‚ expressed as a percentage. Calculate private saving‚ public saving‚ national saving‚ investment‚ and the equilibrium interest rate. Please note: national savings is not related to the interest rate‚ which means that
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