The Basic Economic Problem What Economics is really about Scarcity Economics is a social science that studies the allocation of scarce resources Scarcity – an unlimited demand for limited resources There simply isn’t enough to go around What are some of the resources that you have? Economic Roles In the economy‚ there are two roles that are played out PRODUCER – also called manufacturers‚ suppliers‚ or sellers. CONSUMER – also called buyers or users Which are you? From the Producers’ Perspective
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A PRESENTATION ON SOCIO-ECONOMIC PROBLEMS AND EDUCATIONAL MANAGEMENT DONE BY: SIZE M (M149944) MUSHURE W (M149945) KUWODZA A (M149946) Bed Hons [educational Leadership and Management] SOCIO-ECONOMIC PROBLEMS AND EDUCATIONAL MANAGEMENT 1.0 OBJECTIVES After reading this presentation‚ one should be able to 1.1 identify social problems affecting society 1.2 explain how socio economic problems affect educational management 1.3 discus how an educational manager can help society
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20-1. The campus pizzeria sells a single pizza for $12. If you order a second pizza‚ however‚ the pizzeria charges a price of only $5 for the additional pizza. Explain how an understanding of marginal utility helps to explain the pizzeria’s pricing strategy. 20-1-A. The pricing method that the pizzeria is using shows they understand how marginal utility works‚ specifically diminishing marginal utility. After hitting the level of satisfaction from the first pizza‚ a second pizza will not be quite
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WK4 1How much would the firm’s revenue change if it lowered price from $12 to $10? Is the demand elastic or inelastic in this range? | When P = $12‚ R = ($12)(1) = $12. When P = $10‚ R = ($10)(2) = $20. Thus‚ the price decrease results in an $8 increase in total revenue‚ so demand is elastic over this range of prices. How much would the firm’s revenue change if it lowered price from $4 to$2? IS the demand elastic or inelastic in this range? | When P = $4‚ R = ($4)(5) = $20. When P
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Scarcity -Basic Economic problem - unlimited wants‚ but limited resources The question is: How do we allocate these limited resources? 3 questions that any economic system must answer: - What should be produced - How should we produce it? - Who gets it? Command Economy - You have heavy state involvement - State of ownership of resources and control of production - What should be produced - the state decides - How to produce it - the state decides - Who gets it - the state decides Market
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Chapter 1 INTRODUCTION Situational Analysis Nowadays‚ technology is widely recognized as an integral part in industries. Organizations‚ government agencies‚ and other establishments today are advancing rapidly by combining with technology‚ which is also briskly advancing‚ to further improve the means of gaining progress. The use of computer technology gives industries an opening to many doors of opportunities of creating a quality impact to its progress. As technological advancement emerged
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ECONOMIC PROBLEMS OF PAKISTAN Pakistan was established in 1947 and since its inception; it has been surrounded by countless issues‚ some of which are confined to ill-formed/missing infrastructure‚ insufficient refined resources‚ barren or obsolete factories and technologies‚ the Kashmir controversy and other fronts also involving an ever-ready enemy to underscore its efforts towards progress. Despite being rich in natural resources‚ Pakistan has so far been a developing country with limited development
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References: Bourdeau‚ R. B. (n.d.). Financial crisis in the living room. Khaleej Times. Retrieved December 4‚ 2013‚ from http://www.khaleejtimes.com/kt-article-display-1.asp?section=editorschoice&xfile=/data/editorschoice/2013/September/editorschoice_September5.xml Beck‚ R. (2008). Microeconomic analysis of issues in business‚ government‚ and society. New York: McGraw-Hill. Carson‚ R. B. (2010). Microeconomic issues
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Chapter 1 Introduction 1.1 Background of the Study Few years back‚ it was a path by trees now it is an institution blooming with its growing number of students. Formerly was named Northville Integrated School located at Phase 1 Calulut‚ City of San Fernando‚ Pampanga. The school administrator was Mr. Ariel D. Garcia now known as Northville High School under the supervision of Mrs. Lyn M. Esguerra. Northville High School is exactly located at Northville 14A Malpitic‚ City of San Fernando‚
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CHAPTER 1 The Problem and its Settings Introduction Jollibee has many branches here in the Philippines. Many people who eat in Jollibee so many people are interested with the inventory of the products. When people see how they do their services‚ the people are amazed of how fast they work‚ how fast they cook and how fast they serve‚ but do people see how’s the inventory of the products? The Researchers decided to study about “The Effectiveness of Inventory Control Management of Selected Franchise
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