The Demand for Resources Multiple Choice Questions Derived dema1 1. Resource pricing is important because: A) resource prices are a major determinant of money incomes. B) resource prices allocate scarce resources among alternative uses. C) resource prices‚ along with resource productivity‚ are important to firms in minimizing their costs. D) of all of the above reasons. Answer: D 2. Which of the following statements best illustrates the concept of derived demand? A)
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a) identify what kind of ICT services you have been using in your home country and now‚ studying in Hungary. make a comparison : - how much do you pay for them in the two countries - what % of your monthly income is spent on ICT in the two different countries - how sensitively your demand reacts to the changes in prices ‚ income - to what category do these products belong in your consumption: normal‚ inferior‚ luxuries‚ substitutes‚ etc. in the two different countries - what do you recommend
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Assignment 5 Part1 Option B Read carefully the following piece of text. What does it tell us about cross cultural encounters? In 1892 the new vice-consul for the Benin river section Captain Henry Gallwey visited Benin and signed a treaty which made Benin a British protectorate‚ but as far as the British were concerned the treaty proved disappointing and by 1896 many British traders and officials were calling for military intervention‚ although the foreign office seemed reluctant to do this
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the most expensive gas The United States gasoline prices have been fluctuated from $3.40 a gallon to $3.60 in the last few months. As of July 20‚ 2013 the average fuel prices which is nationwide use to be $3.63 per gallon has rising up from $3.48 cents a gallon‚ which was a week apart. The recent rise in gas price have some drivers wondering if the gas price will soon be up to $4.00 a gallon by the end of this summer. The Crude oil prices have shot up partially because of the political unrest
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1 Define and explain asepsis‚ antisepsis and cross infection Asepsis- An environment that is free of harmful microorganisms. An aseptic technique ensures that only uncontaminated equipment and fluids come into contact with susceptible body sites. It should be used during any clinical procedure that bypasses the body’s natural defences. Using the principles of asepsis minimises the spread of organisms from one person to another. Aseptic techniques are used to reduce contamination from microorganisms
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4. Explain why economists usually oppose controls on prices. The reason most economists are usually oppose about price controls is that they distort the allocation of resources. Price ceilings‚ which prevent prices from exceeding a certain maximum‚ cause shortages. Price floors‚ which prohibit prices below a certain minimum‚ cause surpluses‚ at least for a time. For example‚ let’s say that the supply and demand for milk and eggs are balanced at the current price‚ and that the government then fixes
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factors that influence how good a company performs. Demand Pull inflation is one of the many types of Inflations in the economy. According to Investopedia‚ “Demand Pulling Inflation is a type of inflation is a result of strong consumer demand. When many individuals are trying to purchase the same good‚ the price will inevitably increase. When this happens across the entire economy for all goods‚ it is known as demand-pull inflation.” What is it? Demand Pulling Inflation is a term used in economics in
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results of the past and present human activity‚ to the extent that these attributes influence on the present and future use of the land.” Land is an essential natural resource‚ both for the survival and prosperity of humanity‚ and for the maintenance of all terrestrial ecosystems. It serves many functions such as for production of food‚ fiber‚ fuel‚ or other biotic materials for human use‚ for provision of biological habitats for plants‚ animals and microorganisms‚ for the regulation of the storage and
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What is meant by the term Nature/ Nurture? These two terms are used to the individual behaviour in a physiological perspective. Nature is described to be the inherited characteristics individual obtains from their parents e.g. this could be hair colour. On the other hand Nurture is defined to be the influences of society are what shape the individuals characteristics. There are different opinions and views that people have on the nature verses nurture for example we inherit genes from both
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Assignment: Draw and explain a Use-Case diagram for a Library Management System. Introduction: Capturing the dynamic behaviour of a system is one the key aspects to create a model. Dynamic behaviour means the behaviour of the system under operation. Use case diagrams are used in Unified Modeling Language‚ a standard modelling language for the modeling of real-world objects and systems. A use case diagram is to explicitly define the working of a system with in a system boundary. Each system is primarily
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