Sample questions for the Microeconomics Midterm Exam Summer 2013 The exam will cover chapters 1‚ 2‚ 3‚ 4‚ 5 and 6 There will be 100 minutes allowed to complete the exam. You will have three types of questions: multiple choice‚ true or false and explain‚ and analysis problems. True or False and Explain (Remember that there is one mark for True or False and 4 marks for your explanation) 1. Economics is only interested in fairness not efficiency. 2. If the marginal benefit
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Diet Plan for Bernard Brogan Appropriate for the Selected Activity When an athlete is in the middle of their peak season‚ they should focus on foods that enhance their performance and not damage it. Meaning that they have a balanced diet which gives the nutrients they need is crucially important for the athlete to reach their optimal performance and also aid recovery. There are different categories of sport that athletes fall into which help aid the planning of their diet plan. They are the following
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Market Equilibrating Process Paper ECO/561 February 15‚ 2011 Market Equilibrating Process Paper The principles of economics influence people’s lives every day. Consumers make purchases driven by need for food‚ gasoline‚ and a myriad of other goods and services to sustain their daily lives. Economists have made a career developing theories attempting to quantify the rationale of consumption. This paper will attempt to describe the most common principles of economics. These principles include
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to avoid price wars‚ price rigidity and to obtain higher long term profits. Motta (2004) finds that the number of firms in an industry is a factor that make collusion likely to succeed‚ ceteris paribus‚ will facilitate collusion. If there are only 2 or 3 firms in the oligopoly‚ then it is fairly easy to collude to set prices or to limit competition. Firms are less likely to benefit from collusion when the number of firms increases in the industry (Osborne 1976 and Vives 1999). Consequently‚ firms
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LAW302/9302 Law of Business Organisations Gabriel Garcia Tutor – Room: 67. 238 – Email: ggarcia@uow.edu.au – Consultation times: Topic 1: Introduction to the Law of Business Organisations Seminar (Week 2) 2/27/2013 Using the Learning Resources in this subject Your weekly study program: 1. 2. Read the workbook‚ noting the learning objectives Do the prescribed reading‚ recording – – 3. 4. 5. your reflections on the learning activities and seminar questions‚ and your comments and queries
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Income elasticity of demand is a measure of how much quantity demanded of a good responds to a change in consumer’s income. It is calculated as the percentage change in quantity demanded divided by percentage change in income. 2. List and explain some of the determinants of the price elasticity of demand Availability of close substitutes Higher elastic demand - easier for consumers to switch from one good to the similar others Necessities versus luxuries Inelastic demand
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Economics and financial management consist of two major components: microeconomics and macroeconomics. These two components are interchangeable and act as the foundation to the core concepts to understanding the enormous arena of the financial world. Macroeconomics can be defined in several business terms‚ but simple put‚ it is the branch of economics that studies the economy of consumers or households or individual firms. Microeconomics basically deals with the choices and assessments made by businesses
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Individual Assignment Week 2 Chapter 1 Exercise E 1-2‚ page 34. The following are users of financial statements: E_ Customers I Securities and Exchange Commission I _ Internal Revenue Service I Store Manager I Labor Unions E_ Suppliers I_ Marketing Manager _I_ Vice-president of finance I_ Production Supervisor (B) Instructions: Identify each of the following questions as being more likely asked by an internal user or an external user. _I_ Can we afford
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Fundamentals of Macroeconomics Paper Alyssa Chun ECO/372 February 12‚ 2015 Dr. Christian Teeter Fundamentals of Macroeconomics Paper There are many economic activities that have an apparent affect on businesses‚ households‚ and the government. Some of these various financial affairs include tax reductions‚ vast employee layoffs‚ and purchasing groceries. For each activity there is a flow of resources that go from one entity to another. Although it may seem as if these activities are
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Overview Fundamental Rights are an important part in the Constitution of India. It guarantees civil liberties for Indians to lead their lives in peace and harmony. These includes‚ equality before law‚ freedom of speech and expression‚ and peaceful assembly‚ freedom to practice religion‚ and the right to constitutional remedies for the protection of civil rights by means of writs such as habeas corpus‚ quo-warranto‚ mandamus‚ certiorari‚ and prohibition. Violation of these rights is directly challengeable
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