the law of demand and using examples and diagrams distinguish between movements along and shifts of the Demand curve. Demand is the amount of a particular good or service that a consumer is willing and able to buy at a given price ceteris paribus. The law of demand states that as the prices of a good or service increases the quantity demanded will decrease and vice versa‚ all other things being equal. The difference between movements along the demand curve and a shift of the demand curve is based
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• The demand curve is flatter (more horizontal) the closer the substitutes for the product and the less diminishing marginal utility is at work for the buyers. • The dependent variable in demand analysis is the quantity (the number of units) sold. The independent variables are price‚ income of buyers‚ the price of substitutes‚ and the price of complements. • An increase in income shifts the demand curve to the right for normal good. It goes to the left for an inferior good. • An increase in the
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I believe that computers in the future will not only get smaller and faster but the items they can process in a second would be astronomical to a computer of 10 years before it. If Gordon Moore’s Theory holds up My statement above will inevitably be correct. I believe that computers in the future will not only get smaller and faster but the items they can process in a second would be astronomical to a computer of 10 years before it. If Gordon Moore’s Theory holds up My statement above will inevitably
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Price elasticity of demand measures the degree of responsiveness of quantity demanded of a good X to a given change to a price of itself‚ ceteris paribus. Price elasticity of demand is calculated by dividing the proportionate change in quantity demanded by the proportionate change in price. When PED is greater than one (PED > 1) demand is said to be elastic When PED is between zero to one (0 > PED > 1) demand in said to be inelastic When PED is equal to one (PED > 1) demand is said to be unit-elastic
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it might face over demand or under supply. In seller market‚ when the market demand for possession in the exacting area is high and when there is existing of shortage of high quality possession‚ such as scarce in supply‚ then the power of balance in the market will shifts to the seller. For the reason‚ it is apt excess demand in the market for good possession. Seller flexible to wait for offers on their possession to exceed their minimum selling price. In opposite‚ when the demand for any type of housing
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Why Is A Computer So Powerful? (CHARACTERISTICS OF COMPUTERS) 1. Programmability This is the most important feature of any computer. Programmability can be simply defined as the ability of a functional unit to perform certain pre-defined operations or tasks automatically and independently under the control of running program‚ with minimum user intervention or assistance. 2. Speed of operation A computer is a very fast device. It can perform in a few seconds the amount of a work that a human
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Computer Ethics A Ten Commandments of Computer Ethics (see Appendix A) was first presented by Dr. Ramon C. Barquin ’s in his paper for the Computer Ethics Institute of the Brookings Institution entitled‚ "In Pursuit of a ’Ten Commandments ’ for Computer Ethics" in May of 1992. Computer ethics is about principles related to behavior and decisions made by computer professionals and users‚ including software engineers‚ operators‚ managers‚ policy makers‚ as well as educators and students. This means
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Aggregate Supply and Demand Francis F Perkins ECO/372 April 10‚ 2013 Ed Mendicino Aggregate Supply and Demand Aggregate demand is the total demand for goods and services in the economy at any given time and price level. It is the quantity of goods and services in the economy are now and in the future purchased at possible price levels. This is the demand for gross domestic products (GDP) of a nation when supply levels are fixed. The aggregate demand is a downward slope on a model because
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In today’s modern world‚ computers are needed everyday. Around the world‚ children use computers from the time they are little. It’s true that children should have fun when they are young; however‚ in my opinion‚ a child who knows how to use the computer will be more successful in the future. My reasons for this view are personal‚ academic and professional. From a personal point of view‚ computers can help young people to learn more about the world. For example‚ some children use the Internet to
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Have you ever thought how much time do you spend using on a computer in a day/week? Computers are as common in numerous households around the world. People from all age groups are learning to operate computers and anyone who has worked with computers for long periods of time knows that computers can be just as addicting as drinking every night of the week. Take further‚ Computer addiction can have a number of physical‚ social‚ and psychological effects on a person‚ and it is to be taken as seriously
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