EXERCISES FOR MICROECONOMICS TOPIC 1 Economics: An Introduction (Chapters 1 & 2 in the Textbook) EXPLAIN THE FOLLOWINGTERMS ◎ Average benefit ◎ Average cost ◎ Economic surplus ◎ Economics ◎ Microeconomics ◎ Macroeconomics ◎ Marginal benefit ◎ Marginal cost ◎ Normative economics ◎ Positive economics ◎ Rational person ◎ Sunk cost ◎ Opportunity cost ◎ Absolute advantage ◎ Comparative advantage ◎ Attainable point ◎ Unattainable point ◎ Efficient point ◎ Inefficient
Premium Supply and demand Economics Marginal cost
its relationship to certain microeconomic principles. Thesis: While Starbucks has been an industry leader in the specialty coffee market‚ rapid overexpansion and current economic conditions have caused it to lose its market dominance. Is the company strong enough to recover? I. The origins of Starbucks A. 1971 Beginnings B. Starbucks goes public in 1992 C. Rapid expansion from mid-1990s to mid-2000s II. Starbucks provides microeconomic principles A. Supply and
Premium Supply and demand Coffee Starbucks
Production–possibility frontier In economics‚ a production–possibility frontier (PPF)‚ sometimes called a production–possibility curve‚ production-possibility boundary or product transformation curve‚ is a graph that compares the production rates of two commodities that use the same fixed total of the factors of production. Graphically bounding the production set‚ the PPF curve shows the maximum specified production level of one commodity that results given the production level of the other. By
Premium Economics Supply and demand Consumer theory
Analyzing the Monopolistic Competition of the Retail Industry Understanding the Terms Symbol = a code comprised of letters used as a unique identification of the stock 52 week High = the highest price reached during the last 52 weeks 52 week Low = the lowest price reached during the last 52 weeks Dividend = taxable payment declared by a company’s board of directors & given to its shareholders out of the company’s current/retained earnings Dividend Yield = yield
Premium Economics Marketing Competition
be avoided (Nicole‚ 2012). DINING ETIQUETTE When working for a large business‚ business dinners and lunches are a part of working for a company and many times co-workers spend time together during lunch and dinner hours. When going out with co-workers it is very imperative to know the dining etiquette that is appropriate in that country. In Mexico‚ certain dining etiquette is followed. The Mexican dining etiquette is very similar to the dining etiquette in the Untitled States but there also
Premium Dinner Lunch Wear
Question Examine the possible effects of implementing a minimum wage in Malaysia from a microeconomic perspective. Abstract Minimum wages has always been a worldwide topic that is constantly argued in many countries. It has always been argued that once minimum wages is applied‚ there would not be enough competition among workers in the country. As a result‚ an important question had been brought out; who will benefits when the minimum wage rises? How is the distribution of income for poor
Free Minimum wage Employment
Proper Telephone Etiquette I have worked at a technical college for over five years. I started out as the Admissions Assistant and have recently been promoted to the Admissions Coordinator. In both of these capacities‚ answering the telephone and making business telephone calls have been an integral part of my job. Effective telephone communication lends itself to the success of any type of business. The person answering a business telephone may be first contact a potential customer
Premium Telephone Telephone call Telephone number
Business Ethics and Etiquettes Its how you do business San Pedro College of Business Administration San Pedro‚ Laguna September 3‚ 2011 Speaker’s Profile SONNY CAPULONG URFANO‚ CPA B.S. Accountancy Graduate‚ SPCBA 2004 MBA‚ De La Salle University-Manila CIA-Candidate Audit Manager‚ Trinity Insurance Brokers Managing Partner‚ Jacob Urfano & Associates Consultant‚ Metroplex Corporation‚ Binan Laguna College Professor‚ GCIC Taguig Past President‚ Rotaract Club of San Pedro East What
Premium Ethics Business ethics
ECO 1101 PRINCIPLE OF MICROECONOMICS Table Of Content: Content | Page | Table of Content | 2 | Introduction | 3 | Question 1 | 4 – 5 | Question 2 | 6 | Conclusion | 7 | Appendix | 8 | Reference | 9 | Introduction: Subsidy is an incentive from the government to encourage producers to produce more. Beadshaw‚J said “the benefit of the subsidy will be split into the producer and consumer” (2001‚ p.91). On the other hand‚ subsidy meant support‚ help and protection from government
Premium Supply and demand Public good Mixed economy
e-mail etiquette /xcom285 Associate Level Material Appendix D E-mail Etiquette Read the following e-mails. For each e-mail: • Describe any content and formatting errors found. • Determine if the content is appropriate for a workplace setting. If it is‚ explain why. If not‚ identify the errors made and rewrite the e-mail‚ to be appropriate. |
Premium E-mail address E-mail Work