Perfect competition Learning outcomes You should be able to: Describe the assumed characteristics of perfect competition: a large number of firms; a homogeneous product‚ freedom of entry and exit (no barriers to entry or exit); perfect information and perfect resource mobility (factors of production can move easily in and out of the market) Explain‚ using a diagram‚ the shape of the perfectly competitive firm’s average revenue and marginal revenue curves‚ indicating that the assumptions of perfect
Premium Microeconomics Economics Perfect competition
Hidden Valley Cabins Ecotourism Report Introduction The purpose of this report is to examine Hidden valley Cabins‚ located one and half hour North West of Townsville‚ in relation to three key components. Firstly‚ an evaluation of the operations relating to the provisions of ecotourism products and services will be undertaken. Secondly‚ potential positive and negative environmental‚ economic and sociocultural impacts of the operation are identified. Thirdly‚ recommended strategies based on the
Premium Sustainability
This archive file of ECO 203 Week 5 Discussion Question 1 Foreign Direct Investment comprises: Imagine you are in charge of development for a developing country and were approached by a multina-tional corporation interested in locating in your country. Identify some of the benefits and some of the costs to the host country from allowing a multinational corporation to locate in a country with a developing economy. Discuss with your classmates if developmental assistance from
Free United Nations Developing country International Monetary Fund
1. How important are emotions to our purposes? Extremely important. If we had no emotion‚ then what is the reason to live‚ or do anything purposeful‚ if no sense of achievement‚ happiness has occurred. 2. Would we seek knowledge‚ or even be capable of knowledge‚ without purposefulness? In media programs‚ it has been hinted at the possibility of aliens who have no feeling‚ but have the purpose to conquer‚ or some other objective. As such‚ 3. How do our feelings affect our perceptions?
Premium Emotion Feeling Psychology
long time. Support background checks on criminals and people with destructive tendencies. Background checks on gun purchases can help reduce gun related deaths and make it harder for future shooters to purchase guns. Although there are other ways to reduce mass shootings‚ background checks are the most effective. Background checks have been in the conversation of reducing mass shootings but people against these checks have said that they don’t actually
Premium Firearm Gun politics in the United States Gun
Economics Summary Chap 4&10 Chapter 4: Australia’s trade and financial flows Chapter 10: External Stability Overview Chapter 4: Understanding Australia’s place in the global economy Trends in Australia’s trade patterns Trends in Australia’s financial flows The balance of payments TRENDS in Australia’s balance of payments Consequences of a high current-account deficit Overview Chapter 10‚ External Stability: Australia’s current account deficit Australia’s foreign liabilities Australia’s
Premium Investment International economics Macroeconomics
You may have heard about goods being classified as either a search or an experience good. The concept is not new‚ and was actually developed by American economist Philip Nelson. These classifications provide a working distinction between different types of products and services. If you like/need examples of Nelson’s classifications‚ here are some. Paper (notebook‚ copier‚ etc.) is a search good. Paper products can be easily be compared and evaluated prior to purchase. Commodities are search
Premium Goods
Final Exam University of Phoenix ECO/365 Question One What is the most important determinant of price elasticity of demand? Why is this so? Price elasticity that relates to demand is determined by many factors. Price elasticity is measured by the change in price and the response from consumer demand. The demand of a good or service will vary the price in the item. The most important factor to determine the price elasticity of demand is necessity. If a good is a necessity‚ the
Premium Supply and demand Economics Consumer theory
Eco-Industrial Parks: The Case for Private Planning Industrial ecologists are championing eco-industrial parks or EIPs as tools for pursuing sustainable development. An EIP is a community of companies located in one region that exchange and make use of each other’s by-products or energy. Among the best known is Kalundborg‚ Denmark‚ a city in which the major industries and the local government trade their waste streams and energy resources. Many commentators see Kalundborg as a model that should
Premium Symbiosis Waste Sulfur
Let’s find out‚ what eco friendly technology really is … It can be individual or sets of sustainable technologies‚ that can apply in order to preserves the environment by using the alternative and renewable resources which is abundant‚ easily replenished‚ least harmful materials and methods so as to reduce the harmful waste to avoiding pollution that is toxic to our ecosystem and also the atmosphere which may cause impact of climate change and global warming. Eco technologies also use energy efficiently
Premium Sustainability Alternative energy Wind power