first proponent of the economic value of education. He emphasized on how education helps to increase the productivity of the labour force in various ways‚ including both general education and technical training. He was the one who introduced for the first time the concept of human capital. Later other well known economists (Malthus‚ 1798; Mill‚ 1848; Marx‚ 1878; Marshall‚ 1890; Schumpeter‚ 1934; Harrod‚ 1939 & Domar 1946; et al) placed special attention to the economic growth process. During the second
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Business and Economic Environment Assignment Brief Assessment Activity Front Sheet This front sheet must be completed by the learner and included with the work submitted for assessment. Programme Advanced Diploma in Contemporary Contexts Unit Module Business and Economic Environment Learner Name Assessor Name Lilian Onuegbu Date Issued 21 February 2014 Hand in Date 16 May 2014 Submitted on Internal Verification Yes
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Timings :1 hour TEST Max.Marks 58 Choose the most appropriate answer from the given options in respect of the following : 1)”Economics is the study of mankind in the ordinary business of life” was given by : a) Adam Smith b)Lord Robbins c)Alfred Marshall d)Samuelson 2)A capitalist economy uses as the principal means of allocating resources a)Demand b)Supply c)Efficiency d)Price 3)The commodity whose demand is associated
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examine how the expected value maximization model relates to firm’s various functional departments. The marketing department often has primary responsibility for promotion and sales (TR); the production department has primary responsibility for development costs (TC); and the finance department has primary responsibility for acquiring capital and‚ hence‚ for the discount factor (i) in the denominator. These functional areas have lots of important overlaps. The marketing department can help reduce
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Consumer expenditure Mini Case John Hawksworth “Opinion: Economic Trends - Saved by the consumer?”‚ Accountancy‚ London‚ Mar 2002 (with minor editing) How long can the UK economy buck the global trend just because our consumers keep spending money? Have we avoided the recession that has gripped the US‚ Japan and Germany over the past six to 12 months or are we just postponing the day of reckoning? And are we storing up worse problems for the future as a result of rising household debt levels
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| |Higher 1 | ECONOMICS 8819/01 Paper 1 1 September 2011 3 hours Additional Materials: Answer Paper READ THESE INSTRUCTIONS FIRST Write your name‚ index number and CT class on all the work you hand in. Write in dark blue or black pen on both sides of
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Managerial Economics Final Project Fajwa’s Apparel Outlets Iqra Fayyaz (10223004) Malik Usman Khan (10223001) Sufyan Adil (10223024) Jabbar Ahmed(10223006) Mohd. Salman (08110104) Instructor: Dr. Tasneem Akhtar GIFT Business School GIFT University ACKNOWLEDGMENT In the name of ALLHA ALMIGHITY the lord of the world who has bestowed us with abilities and blessed with knowledge so that we can make best of opportunities provide to us. First of all we are indebted toward ALLHA ALMIGHTY
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Chapter 1: ECONOMIC INTERDEPENDENCE.- “ When the U.S sneezes‚ the economies of other nations catch a cold” GLOBALIZATION . Is the process of greater interdependence among countries and their citizens. Agglomeration Economies.- are a powerful force that help explain the advantages of the "clustering effect" of many activities ranging from retailing to transport terminals. (Urbanization‚ Industrialization‚ Localization economies) FOREIGN OUTSOURCING.- Certain aspects of a product’s manufacture
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ECONOMICS CHAPTER 1 ECONOMIC WAY OF THINKING SCARE RESOURCES WEALTH OF THE NATIONS ECONOMICS: ADAM SMITH STAR CITY Scarcity Scarcity is the basic and central economic problem confronting every society. It is the heart of the study of economics and the reason behind its establishment. Authors have defined scarcity in various way some if which are complexly stated. One author defines scarcity as a commodity or service being in short supply‚ relatives to its demand (Kapur
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1. Distinguish between Micro economics and Macro economics. Microeconomics may be defined as that branch of economic analysis‚ which studies the economic behavior of the individual unit‚ maybe a person‚ a particular household‚ or a particular firm. It is a study of one particular unit rather than all the units combined together. In microeconomics‚ we study the various units of the economy‚ how they function and how they reach their equilibrium. An important tool used in that of microeconomics is
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