Economics 247 Assignment 1 Version A This assignment has a maximum total of 100 marks and is worth 10% of your total grade for this course. You should complete it after completing your course work for Units 1 through 5. Answer each question clearly and concisely. 1. a. 3/3Define opportunity cost‚ and explain its importance in economics. (3 marks) -The opportunity cost of something is what you must give up of one thing‚ in order to get it. Opportunity cost is a key concept of
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Supporters of this hypothesis would claim that the protestors’ contradicting Huntington’s “cultural identity” proposition and provese that the Arab spring refutes the clash of civilizations. “The Arab uprising is led by…all strata of the population‚ including non-Muslims…the Islamic Identity of the Arab world is‚ somehow‚ not in the limelight” (Kamali‚ 2012). Emphasies on human rights and human dignity‚ rather than Islamic identity‚ were is the focus in the uprisings. It was claimed that most of
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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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Culture Defined Culture is a complex term that consists of so many things. At the base of culture one would find people who live in social groups and share a way of living which separates them from other human groups. A culture may include rituals‚ religion‚ economic systems‚ language‚ a style of dress‚ a way of cooking‚ and a political system. People who share a culture typically follow the same rules and form a social society. Culture is not inherited‚ but must be learned and shared. A culture
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Fuzzy Logic Technique for Smart Grid Fault Detection Dr. S G Srivani1 (IEEE Member)‚ Abhishek Kumar2‚ Abhinav U Patil3‚ Praveen G4 Abstract—this paper introduces the general aspects of smart grid‚ which is the combination of many latest technologies for effective energy distribution and usage. Fault occurrence in power grid is one event which is completely unexpected. Out of many Computational Intelligence methods to deal with such an event Fuzzy Logic techniques
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La Trobe University Faculty of Law and Management School of Economics and Finance Semester 1‚ 2011 Sustainability in Global Business ECO1SGB Tutorial Questions for week beginning 30 May 2011 Review of Key Terms Global learning | Production | ISO 9000 | Supply chain visibility | Just-in-time (JIT) systems | Total quality management | Make-or-buy decisions | Vertical integration | Minimum efficient scale | Logistics | In preparation for the short-answer type questions in the
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exposure when the currency cannot be hedged Currency Diversification- this can limit the potential effect of any single currency’s movements on the value of an MNC. 3) Compare MNC capital budgeting to domestic capital budgeting. Talk about economic exposure. MNC capital budgeting‚ like domestic capital budgeting‚ focuses on the cash flows of prospective long-term investment projects. They use the same NPV discounted cash flow model. However MNC is more complex because of the following
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Economics Answers Define the following terms: 1) Public goods are goods that when produced can be freely consumed by anyone‚ for example the justice system. They are made up of the following goods‚ non-exclusive and non-rival. Non-exclusive goods are goods that people cannot be excluded from consuming‚ it is difficult or impossible to charge for its use which implies no private market as benefits cannot be denied to those who refuse to pay‚ for example public TV. Non-rival goods or
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AS Sociology For AQA [2nd Edition] Unit 1: Culture and Identity Chris. Livesey and Tony Lawson Unit 1: Culture and Identity Contents 1. Different conceptions of culture‚ including subculture‚ mass culture‚ high and low culture‚ popular culture‚ global culture. 2 2. The Socialisation Process and the Role of Agencies of Socialisation. 15 3. Sources and Different Conceptions of the Self‚ Identity and Difference. 21 4. The Relationship of Identity to Age‚ Disability‚ Ethnicity
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Australia for more than two year. It is a precious experience for me to study aboard‚ firstly‚ it makes me become more independent‚ I lean how to take care myself and manage myself. I am study banking and finance in Monash University. The course that I would like to do at the university of Melbourne is master of management. Management is a playing a vital role in all working place. In my opinion‚ sometimes we don’t need to be specialize in some specific work‚ because we can manage those people who are
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