BASIC ECONOMIC PROBLEM Scarcity is one of the most basic economic problem that we faced. Why we run into scarcity because we are in a society with unlimited wants‚ but limited resources. Therefore‚ we have to choose‚ to make trade-offs. We have to efficiently allocate resources‚ and we have to do those things because resources are limited and cannot meet our own unlimited demands. Choice and opportunity cost are two basic concepts in economics. Because of scarcity‚ consumers‚ businesses and governments
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[American Marketing Association(AMA) Board Of Directors] 2. Marketing is the science and art of exploring‚ creating and delivering value to satisfy the needs of a target market at a profit. Marketing identifies unfulfilled needs and desires. It defines‚ measures and qualifies the size of the identified market and the profit potential.[Dr. Philip Kotler] 3. Marketing is traditionally the means by which an organization communicates to‚ connects with and engages its target audience to convey the
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THE BASIC EDUCATION OF LESOTHO Education in Lesotho is divided into four main sub-sectors‚ namely Basic education‚ Secondary Education‚ Technical vocational Education and Training and High Education. The practice and policies guiding the Basic education sub-sector‚ the sub-sector’s philosophy‚ how relevant to the clientele are the programmes‚ or the subjects offered and whether Adult Education can influence the policy and practice of Basic Education shall be displayed or examined in the essay
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Economists have generally looked for some’ fundamental assumption” about human behavior from which most of the principles of economics can be ultimately deduced. Every decision-maker in an economic system-whether he is a consumer or producer‚ whether it is a house hold or a firm- is assumed to have in a rational manner and go in for maximum gain. Economic rationality presupposes that every person knows his interest and selects that course of action‚ which promises him the greatest amount of satisfaction
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BasRunning head: BASIC FINANCIAL STATEMENTS Basic Financial Statements Robert A. Weir Basic Financial Statements There are four financial statements that business’ use to reference the financial data of a company. These statements are the balance sheet‚ the income sheet‚ the statement of retained earning and the statement of cash flows. These four statements show a variety of information that pertains to the financial situation of a company during a specific
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Basic Logic GatesBasic Logic Gates All digital systems can be constructed by only three basic logic gates. These basic gates are called the AND gate‚ the OR gate‚ and the NOT gate. Some textbooks also include the NAND gate‚ the NOR gate and the EXOR gate as the members of the family of basic logic gates. The descriptions of the operations of these gates are listed below: AND gate The AND gate is a circuit which gives a high output (logic 1) if all its inputs are high. A dot () is used to indicate
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Introduction: Being the newly emerging economies‚ the BASIC Group (Brazil‚ South Africa‚ India and China)‚ we recognize climate change and global warming and are willing to reduce our greenhouse gas emission in order to ensure that we are building a low-carbon economy and have a sustainable development for the future. In the next 100 years there will be an increase in average global temperature between 1.8 °C and 4.0 ºC. Moreover‚ the average sea level will rise between 0.18 m and 0.59 m. These
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order‚ “To be truly morally responsible for what you do you must be truly responsible for the way you are – at least in certain crucial mental respects.”1 As suggested by Robert Kane in A Contemporary Introduction to Free Will‚ Premise (2) of the Basic Argument is where an objection must be made. According to Kane‚ “Is it the case that to be truly responsible for what you do‚ you must be truly responsible for the way you are (for your nature or character)?”2 As Kane suggests‚ through the examples
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Joseph M. Juran’s Principles 1. Build awareness of the need for quality and an opportunity for improvement 2. Set goals for improvement 3. Organize to achieve goals 4. Provide training 5. Carry out projects to solve problems 6. Report progress 7. Give recognition 8. Communicate results 9. Keep score 10. Maintain momentum Dr W. Edwards Deming’s Principles 1. Create constancy for the purpose of improvement of product and service. Allocate resources to provide for long-term needs with
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Page 1: Insurance Page 2: Lloyds contribution Lloyd’s of London (also known simply as Lloyd’s) is an insurance market located in London’s primary financial district‚ the City of London. It serves as a partially mutualised marketplace where multiple financial backers‚ known as underwriters‚ or "members"‚ both individuals (traditionally known as "Names") and corporations‚ come together to pool and spread risk. Page 3: Unlike most of its competitors in the industry‚ it is not a company but it is
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