There is often a trade-off between equity (fairness) and efficiency • gain from trade are the advantages of specialization • economies normally move toward equilibrium • Three basic econ. questions - What to produce? How to produce? For Whom? • Three economic system ➢ all of it answer those 3 basic econ. questions ➢ types - traditional‚ command/planned‚ market ➢ most of the country are mixed economies (more than one type) Chapter 2 : Economic Models Trade-offs and Trade •
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David Bubash EN 3150 Dr. Martin 3 February 2014 Midterm Portfolio Introduction: 1. Change a Nominalization This entry comes from my response of a philosophical article entitled “People or Penguins‚” by William F. Baxter. This article is about Baxter’s theory that humans should come before animals in all matters‚ and that every decision made should consider how greatly it would affect people. In the first paragraph‚ I summarized Baxter’s argument‚ and I wrote this clause: Original: “…everyone
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Bus Fin 3500 Review for Midterm The exam is multiple-choice. Many of the questions are conceptual in nature‚ so although you will have to understand the principles presented‚ in many instances you will also have to apply those principles. If English is your second language‚ you may bring a dictionary with you. (book form‚ not electronic) The dictionary can either be an English dictionary or a dictionary between English and your first language. There will be 25 questions on the exam.
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Faculty of Fine Arts and Design‚ Izmir University of Economics 1 2 Course Code : PD 316 3 Course Name : Design for Sustainability Instructor : Asst.Prof.Dr. Deniz DENİZ 4 5 6 MIDTERM EXAM Name-Surname : DATE: 19.11.2012 Student Number : Department : QUESTION 1: In this question‚ you are expected to follow 4 basic steps of “Sustainable Product Development Issues” (below) that are already discussed in the class. Explain each of 4 steps
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ECON 201 Macroeconomics Test #1 Study Guide CHAPTERS 1 and 2 Introduction and Economic Models 1. Define economics. Differentiate between macro and microeconomics. 2. Explain the concept of scarcity. 3. Explain how marginal costs and marginal benefits influence incentives and choice. 4. Define and explain the difference between efficiency and equity. 5. What is the difference between positive and normative economics? 6. What is ceteris paribus? 7. Explain the concept of opportunity
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PHILOSOPHY MIDTERMS LECTURE Aristotle Principles / Theories / propositions > Principle of non- indefinite Regression everything has an end (Teleoloqy) > Nemo dat quod non habet nobody can give what it does not possess > nature is never frustrated intellect is destined to know > tota anima in toto corpore the whole soul is in the whole body > ex entre non fit ens nothing becomes what is already is > the effect cannot be greater than the cause > nothing is in the intellect which does
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PSYD16 Midterm QUESTION 2: Van Manen quotes Dilthey’s definition of lived experience‚ which is “our immediate‚ pre-reflective consciousness of life: a reflexive or self-given awareness which is‚ as awareness‚ unaware of itself.” It is raw and untouched by presumptions and speculation. * Van Manen constantly emphasizes how phenomenological human science begins with and eventually returns to lived experience. Hence‚ its great importance. * According to van Manen‚ phenomenology‚ which is
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Midterm Instructions: Answer each question below in essay form‚ based on the principles and cases that we have reviewed so far this semester (i.e.‚ Recognizing the Opportunity‚ Marshalling Resources). No. 1: Evaluate John Taylor and Marty Grayson’s effort to identify the opportunity. Are they the right people for this opportunity? Why or why not? John Taylor and Marty Grayson had both always had the interest of being entrepreneurs and when they met eachother is when their search for
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ACC 622 Advanced Auditing Midterm Case 4.1 1. A close friendship between an auditor and the client can jeopardize the auditor’s appearance of independence. And I think when such close relationship begins influence the auditor’s thoughts when he or she makes very important decisions‚ the independence of an auditor has been compromised. The Rule 101 – Independence says: “A member in public practice shall be independent in the performance of professional services as required by standards promulgated
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ECON individual assignment Topic: What were the causes of the Great Depression of the 1930s? Is today’s economic situation similar? Discuss. Zhijin Yu 300700894 Introduction The Great Depression occurred on 1930s made a huge destroyed impact to all of global economic entities. With economic theory developing‚ nowadays‚ economists are able to prevent economic depression or recession by using Macroeconomic knowledge. The report that following is completely based on economic principles
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