Chapter 1: The Power of Markets What are the two basic assumptions that economists make about individuals and firms? Economists have two basic assumptions which keeps the economy in check. One is that people try to make themselves as versatile as possible maximizing their overall potential. The other is that a firm would do what it needs to make the most profit possible. What is the role and significance of prices in the market economy? Prices in a market economy are very important. Price allows
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Le PHIL 301 Professor Stieb Midterm Exam‚ May 2‚ 2013 1/ What is ethics? What are some common ethical types? Why do business people need it? Can ethics be taught to people? Ethics is a study of morality‚ stems from the ancient Greek “ethos” meaning custom or habit. It is a study of theories concerning what is good and evil in human conduct. There is no particular set of laws defining what is ethical and what is not‚ because there is no right or wrong answer. The second sense of ethics speak of
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HIGHER EDUCATION DIVISION / SUTL TAFE DIVISION Cross out whichever is not applicable Examinations: Semester: 1 2004 Paper 1 of 1 School of Engineering & Science Campus : Hawthorn Subject Code(s): HES 2120 Full Subject Title: STRUCTURAL MECHANICS STUDENT’S NAME: _________________________________ID No: ________________ Duration: 180 minutes Percentage of overall assessment covered by this paper : 75 % Reading Time: 15 minutes INSTRUCTIONS
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Principals of Management Assessment Correct Answers are in RED I Scored 64% ( 33/51 ) 1. A value chain is the sequence of activities that begins with raw materials. What result does a value chain end with? Choose 1 answer A. Outsourcing or insourcing B. Supply and demand C. Delivery of products or services D. Operations and logistics C 2. What happens when an effective value chain is created? Choose 1 answer A. Total quality management is not required
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GBA 521 Multiple Choice Identify the choice that best completes the statement or answers the question. __C__ 1. Raymond Corporation reported the following information for the year ended December 31‚ 2012: | Net income | $ 10‚000 | | Dividends | 6‚000 | | Retained earnings at December 31‚ 2012 | 25‚000 | What was the economic effect of the payment of Raymond’s dividends? a. | The dividend reduced net income for 2012. | b. | The dividend should be equal to net income if
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Exam Questions 1. Which nutrient makes up over half of an average daily diet? a. Protein b. Fat c. Carbohyrate d. Fibre 2. Which of the following somatotypes would consume the most fat? a. Endomorph b. Ectomroph c. Exomorph d. Mesomorph 3. Which nutrient is required for healthy digestion? a. Water b. Vitamins c. Fat d. Fibre Section B 1. Define Anorexia and give 2 examples of how it will affect sporting performance. (3 marks) Anorexia is an eating
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understanding of good will and duty and show that they are linked. More importantly you need to explain the categorical imperative and the three formulae. 1 Universalisability 2 People must be considered as ends in themselves 3 Kingdom of ends. A good answer will include examples‚ either Kant’s own or simple alternatives. Immanuel Kant was an eighteenth century German philosopher whose moral views continue to be influential. He developed a deontological‚ absolute and objective ethical theory on the idea
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Assessment: Critical reflection Ferraro’s notion of culture‚ using the three verbs ‘have’‚ ‘think’‚ and ‘do’ (2010‚ p.20) has given me an effective and most valuable way to approach and understand the indigenous culture in reference to the media clip/ song lyrics. Albeit I feel it is a broad statement‚ which sums up the three central points of culture that join individuals into a society‚ those being ownership of material objects‚ shared ideas‚ values and attitude and normative behavior. Through
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ECON EXAM 3 QUESTIONS Competitive Supply A perfectly competitive firm maximizes profit by producing the quantity at which: MR = MC. Consider a perfectly competitive firm in the short run. Assume the firm produces the profit-maximizing output and that it earns economic profits. At the profit-maximizing output‚ all of the following are correct except: price is equal to average total cost. People in the eastern part of Beirut are prevented by border guards from traveling to the western part of
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SAMPLE QUESTION PAPER International Business and Policy SEMESTER : 2 Question 1 Martin is an American‚ working for an American company‚ Hydropower‚ that is undertaking a new project in an African country. Martin has been sent by his company to perform 3 specific duties: (1) to work with the national government of the African country and with the local community that will be affected by the new hydro scheme to ensure that the company gets all necessary permissions to proceed with
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