1. Explain economics? Economics is the study of how society allocates scarce resources and goods. Resources are the inputs that society uses to produce output‚ called goods. Resources include inputs such as labor‚ capital‚ and land. Goods include products such as food‚ clothing‚ and housing as well as services such as those provided by barbers‚ doctors‚ and police officers. These resources and goods maybe be considered scarce because of society’s tendency to demand more resources and goods than
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shows the importance of small-scale industries in the economic development of the country. The small-scale industry have been playing an important role in the growth process of Indian economy since independence in spite of stiff competition from the large sector and not very encouraging support from the government. The following are some of the important role played by small- scale industries in India. 1. Employment generation: The basic problem that is confronting the Indian economy is increasing
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Febrile and diaphoretic; BP 130/80; pulse 88; urine specific gravity 1.035; serum potassium 3.0 mEq/l; serum sodium 140mEq/l‚ CL 92mEq/l‚ Mg 1.4 mg/dL. 1.) Analyze the data in the case study. Do the findings indicate a fluid deficit or fluid excess problem? Support your answer with data from this patient. I would guess a fluid volume deficit. Dark amber urine‚ dry mucus membranes‚ poor skin turgor‚ and labs all point in that direction. Although the patient’s output seems to be adequate‚ everything
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ECONOMICS CHAPTER 1- INTRODUCTION TO ECONOMICS ● Assumed 3 decision makers- consumers (households) – that sell land‚ labour‚ capital & entrepreneurship and firms- that pay rent‚ wages‚ interest and profits (rewards for above factors of production ) firms then use the factors to produce G/S in return for payment from consumer. Govt imposes taxes on individuals and (income tax) and firms (corporate tax) to provide infrastructure and other services to community ● Econon’s 2 basic assumptions
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Economics Reviewer (For IV- Understanding ONLY) Market – the medium in which buyers and sellers interact. (Note: its meaning is not limited to a location or geographical area‚ it also focuses on people who are WILLING and ABLE to buy and/or sell goods and services. Two major players/actors in the market: Buyers & Sellers Market Equilibrium: when buyers and sellers agree at a certain price and quantity to transact Price Equilibrium: price agreed by both buyers and sellers. Quantity Equilibrium:
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Central ideas: 1- The Neem Tree REFERENCE: This poem is written by Mrs. Elsa Kazi.She is the German wife of Allama I.I Kazi.She was born in Weimar in Germany. She wrote poems in German and English. She died in Hyderabad on May 28 1967. Central idea: Nothing can be nobler than serving the suffering humanity. Hardships should be faced courageously to protect those who are in trouble. Conclusion: “I am a man‚ and whatever concerns
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the opportunity cost‚ unemployment‚ discouragement of investment and savings‚ and shortage of goods. Positive effects include the reserve bank adjust their real interest rates and encourage investment in non-monetary capital projects. However the economics in today’s time believe that an economy is said to be in a favorable and a stable condition only if the inflation rate is steady or favorably low(as compared to zero or negative). Most of the most developed countries have managed sustain an inflation
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Nowadays‚ with the developing of economic development is facing a new challenge. The notions of entrepreneurship‚ innovation and creativity become more widely used in business world and Naude (2010) notes that these fields are converging increasingly in recent years. Entrepreneurship has been regarded as the engine of dynamic economic development and growth (Ylinenpaa‚ 2009). Moreover‚ Minniti (1999) states that entrepreneurship scholars are catalysts for economic development because of the generation
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Economics and Scarcity Problems In most countries the birth rate has fallen as incomes and the economic opportunities for women have increased. The expansion of women’s income has discouraged fertility. Women have found it more expensive to have kids because of time and limited resources. First being a full time Mother can conflict with the amount of time away from the house. It cost money to have someone watch kids during the day. Women rather only have one or two children because excessiveness
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A Strong Central Government Patty Saltkill PPA 601: Foundations in Public Administration February 20‚ 2012 R.D. Robertson Ashford University A Strong Central Government Government of any kind is set up to make a country run smother and with less problems. The United States government should have less ability to override state policy without proof of why it should be overridden. It should be something that each state has the ability to defend against and with
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