the Production Possibility Frontier is simple to understand. It is a method used to represent (in the form of a graph) the point in which an economy is producing its goods and services with efficiency. It also shows whether the economy is allocating their resources in the best way possible. If the economy is not producing the quantities indicated by the PPF‚ resources are not being managed efficiently and the production will decrease. The production possibility frontier also shows that a limit to
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W.M. Thackeray and "Vanity Fair" William Makepeace Thackeray (1811 - 1863) was born to a prosperous middle-class family in India His father was an English official in Calcutta. After his father’s death‚ when the boy was 3 years old‚ he was brought to England to be educated at school and later at Cambridge University. Being a student‚ William devoted much time to drawing cartoons and writing verses‚ chiefly parodies. He couldn’t bear the scholastic atmosphere of the University‚ and as his ambition
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“Fair is foul and foul is fair”. Discuss how the play Macbeth shows a disrupted world. The play Macbeth revolves around several main themes including the contradicting ‘fair is foul and foul is fair’ where things are not what they seem. This theme reflects on the reality of the world‚ neither good nor evil but a combination of both. William Shakespeare demonstrates during the course of the play how contradictory people and life can be. The disruption of ‘The Great Chain of Being’ is also focused
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Architecture of the New Capitalist Society INTRODUCTORY THEME Daniel Libeskind ’s winning design for the new World Trade Center takes a sentimental and metaphorical approach. He claims that the completed WTC would become the representation of America ’s belief in humanity‚ its need for individual dignity‚ and its beliefs in the cooperation of human. Libeskind ’s original design focused on restoring the spiritual peak to the New York City and creating an icon that speaks of America ’s vitality
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established his conservative principles through The Conscience of a Conservative. Written at a time of great change in America with experiments in big government‚ the New Deal‚ and the climax of the Cold War‚ the views of Goldwater in the Conscience of a Conservative were looked at as revolutionary‚ yet controversial in the Republican eye. He believed and argued that freedom was the highest value in American society while also stating that compromising for something one does not believe in is unjust. In his
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when none existed (Study Mode). All of these allegations causes a stir in the America society. All of this fear led Congress to pass McCarran International Security Act making it unlawful “to combine‚ conspire‚ or agree with any other person to perform any act which would substantially contribute to…the establishment of totalitarian dictatorship. This time was known as the McCarthyism. President Truman’s Fair Deal was designed after his victory and was his way of trying to make all things equal for
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Creating efficient frontiers using excel. Suppose we have 3 risky assets whose net return has the mean vector and variancecovariance matrix given below: Asset Mean VarianceCovariance Matrix 1 2 3 0.06 0.12 0.03 1 0.3 0.3 0.3 1 0.3 0.3 0.3 1 Weights Ones Mean Portfolio Return 1 1 1 0.176666122 Portfolio Portfolio Portfolio Variance STD Constraint 2.42961 1.558721 1 0.079372 1.603166 -0.68254 To model the portfolio choice problem‚ I begin by highlighting the mean vector and giving
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Question 2 Show the PPF curve under decreasing and increasing returns to labour. The Production possibility frontier analyses the most efficient use of company resources to achieve different levels of production of output. Labour is one of the variables factors of production. One unique feature of the PPF is that one alternative is usually foregone in order to maximize the production of another product‚ for example‚ in a refinery a manager may decide to deploy more human resources to produce
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Pharmaceutical Society of Great Britain v Boots [1953] 1 QB 401 Court of Appeal Boots introduced the then new self service system into their shops whereby customers would pick up goods from the shelf put them in their basket and then take them to the cash till to pay. The Pharmaceutical Society of Great Britain brought an action to determine the legality of the system with regard to the sale of pharmaceutical products which were required by law to be sold in the presence of a pharmacist. The court
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The Colonies by 1763-A New Society? Between the settlement at Jamestown in 1607 and the Treaty of Paris in 1763‚ the most important change that occurred in the colonies was the extension of British ideals far beyond the practice in England itself. The thirteen colonies throughout time all established themselves and soon developed their own identities. Colonies in different areas were known for different things and no one colony was like the other. These people began to see them selves as Carolinians
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