Term- I Course Title : Managerial Economics Course Credits : 3 Course Faculty : Prof. Animesh Singh Learning Objectives At the end of this course‚ the student should be able to: • develop a basic understanding of economics as an important tool for taking effective managerial decisions; • develop the concept of managerial economics and its applications; and • to apprise how managers need to understand fundamental
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Discuss 4 reasons‚ why using percentage change in Nominal GDP is an inadequate measure of Economic Growth? Nominal GDP (Gross Domestic Product) measures the total value of goods and services produced by an economy over a period of time‚ which is normally one annum‚ and is not adjusted. There are factors which means that the fact the Nominal GDP is not adjusted makes it an inadequate measure of economic growth. Economic growth is the increase in the amount of the goods and services produced by an economy over
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Ecological Economics 102 (2014) 1–7 Contents lists available at ScienceDirect Ecological Economics journal homepage: www.elsevier.com/locate/ecolecon Analysis Lessons from resource management by indigenous Maori in New Zealand: Governing the ecosystems as a commons Viktoria Kahui ⁎‚ Amanda C. Richards University of Otago‚ Economics‚ PO Box 56‚ Dunedin‚ New Zealand a r t i c l e i n f o Article history: Received 30 September 2013 Received in revised form 9 February 2014
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Chapter 01 - Economic conceptsChapter 01 - Economic concepts Student: ___________________________________________________________________________ 1.|Economics is a study of: A. |scarcity.|B. |production.|C. |labour resources.|D. |money.|| 2.|Opportunity cost means: A. |wasted opportunities.|B. |costs incurred in purchasing goods and services.|C. |alternatives forgone.|D. |the costs of production.|| 3.|The production possibilities frontier illustrates: A. |current production levels.|B
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Ecosystems and Economics Megan Wells BIO280 April 29‚ 2013 Kalista Andropolis Ecosystems and Economics Human society has placed an imprint on ecosystems throughout the planet. Because of this imprint ecosystems have degraded dramatically and have experienced loss. Human activity has affected plants‚ animals‚ and ecosystem dynamics in many ways. The purpose of this paper is to explore the causes of human society’s impact on ecosystems and the cost and benefits of human enterprises. In
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Econ 102 Measuring domestic output and national income Submitted by: Submitted to: 1.) Define the ff: National Income Accounting – National income accounting is used to determine the level of economic activity of a country. Two methods are used and the results reconciled: the expenditure approach sums what has been purchased during the year and the income approach sums what has been earned during the year. GROSS DOMESTIC PRODUCT – The gross domestic product is the sum of all the final
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needs; they do so by picking a specific economic system. There are four completely different types of economic systems; traditional‚ command‚ market‚ and mixed economies. “Most countries have a mix of three different types of economic systems”.(Clayton 55) India is a worthy example of mixing the three main economic systems by combining elements of a traditional‚ command‚ and market economy. (Clayton 33) Traditional economies are based on scarce resources‚ as well as rituals‚ habits‚ and customs; much
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Hong Kong Polytechnic University School of Accounting and Finance AF1605 INTRODUCTION TO ECONOMICS Course Outline First Semester 2013/2014 Subject Code: AF1605 Subject Title: Introduction to Economics Mode of Study: Lecture Tutorial 28 hours 14 hours Assessment: Coursework Final Examination 50% 50% Minimum Pass Grade: Coursework Final Examination D D Subject Lecturers Dr Y.C. Chan Dr Vincent Mok Office: M853 Office: M844 Phone: 27667118
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QUESTION: Imagine that you have decided to open a small ice cream stand on campus called "Ice-Campusades." You are very excited because you love ice cream (delicious!) and this is a fun way for you to apply your business and economics skills! Here is the first month’s scenario--you order the same number (and the same variety) of ice creams each day from the ice cream suppliers‚ and your ice creams are always marked at $1.50 each. However‚ you notice that there are days when ice creams remain unsold
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experience in home countries. the inherent disadvantage that foreign firms experience in home countries. Question 5 An institutional framework if made up of: regulatory and cognitive pillars. formal and informal institutions. the political‚ economic‚ and legal systems of countries. None of these answers. Question 6 According to the institution-based view‚ in situations where ____ constraints are unclear or fail‚ ____ constraints will play a larger role in reducing uncertainty and providing
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