1. Open Economy vs. Closed Economy • Open Economy A country has an open economy if it is joining international trade‚ which exporting and importing are collectively together. Selling or buying of goods or services to a foreign country is allowed in this kind of economy. The Market-economy is mostly free from trade barriers and where exports and imports form a large percentage of the GDP. Imports give citizens of a country access to products and services provided by other nations
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high-definition televisions. Other than first hand information‚ television provides us entertainment and knowledge. There are sitcoms‚ documentary‚ drama‚ sports‚ movie‚ etc. Nonetheless‚ is it good or not? This time‚ let us talk about the advantages and disadvantages of watching television. Like some people‚ I love watching television when I have spare time. In 21st century‚ watching television has been becoming a popular activity other than sports‚ or playing video games. Nevertheless‚ did you notice
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easier such as the stone axe. They also developed the technique of sculpturing with clay and stone which was better than sculpturing with stone or reindeer horns like the Paleolithic people did. On the other hand‚ when taking a closer look at the disadvantages it was not all so great. As people where entering the Neolithic Era they were becoming less health‚ and was making them more prone to diseases such as; malaria‚ tuberculosis etc. The lifespan for the Paleolithic people was much longer than those
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NVQ and Competence - Essay In this supporting paper to the presentation‚ the purpose‚ the nature and the advantages and disadvantages of NVQ will be stated and analysed; finishing with a conclusion as to whether to follow a NVQ or not. The definition of an NVQ is “A statement of competence clearly relevant to work and intended to facilitate entry into‚ or progression in‚ employment and further learning‚ issued to an individual by a recognized awarding body”. A national vocational qualification
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A Extended family ‚ a big family that may include grandparents‚ uncles‚ aunts‚ and cousins‚ they live together within the same household .However‚ it may also refer to a family unit in which several generations live together within a single household. In Australia‚this type of family is seldom‚most children leave their parents when they have the ability of living independent‚ largely past 18.they get together during some festivals or ceremony like Christmas or wedding ceremony’ But for Chinese
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Economies of scale Definition Reduction in long-run average and marginal costs‚ due to increase in size of an operating unit (a factory or plant‚ for example). Economics of scale can be internal to a firm (cost reduction due to technological and management factors) or external (cost reduction due to the effect of technology in an industry). Diseconomies of scale Definition Increase in long-term average cost of production as the scale of operations increases beyond a certain level
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Abdullah Alfraihy 12/3/12 ENG 107 Ms. Daily The Internet We as opinionated people might not agree about what is the real definition of pop culture. Each culture has their own pop culture‚ which depends on diverse sources. In fact‚ there are not many feature in pop culture that actually crossed over from it’s original culture. Most of them could not be as world pop culture because of the language barrier. On the other hand‚ there are many things that did not need any outside support to
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Disadvantages of the advertising Advertising is the name given to the process of commercial promotion of goods and services in order to increase its sales. It can be done by means of a number of mediums like television‚ newspaper‚ wall paintings‚ billboards‚ magazines‚ internet‚ by the word-of-mouth and in many other ways. Advertising informs the buyers about the ability of a certain product or service in the market and encourages them to buy it. However‚ some people are very keen on exposing
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Humanity is undergoing in the post-Cold War era an economic and social crisis of unprecedented scale leading to the rapid impoverishment of large sectors of the World population. National economies are collapsing‚ unemployment is rampant. Local level famines have erupted in Sub-Saharan Africa‚ South Asia and parts of Latin America. This "globalization of poverty" --which has largely reversed the achievements of post-war decolonization-- was initiated in the Third World coinciding with the debt crisis
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Disadvantages of Monopoly: • Higher prices and lower output Monopolies often mean that prices will be higher and output lower than is the case for an industry where competition prevails. Firms in one industry are producing under conditions of perfect competition‚ while the other firm is operating under conditions of monopoly. The costs of production are the same for each industry. • Excess profits High profits made by the monopolist are not necessarily an indication of efficient methods
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