will compare and contrast different economic systems and explain how they answer the three basic economic questions of what to produce‚ how to produce‚ and for whom to produce. a. Compare command‚ market‚ and mixed economic systems with regard to private ownership‚ profit motive‚ consumer sovereignty‚ competition‚ and government regulation. b. Evaluate how well each type of system answers the three economic questions and meets the broad social and economic goals of freedom‚ security‚ equity‚
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FINAL EXAMINATION PROGRAMME: MASTER OF BUSINESS ADMINISTRATION (MBA): GENERAL AND TOURISM- YEAR ONE MODULE: ECONOMICS DATE: 21 NOVEMBER 2011 DURATION: 3 Hours EXAMINER: Mr I Govender INTAKE: JANUARY 2011 TIME: 09h00 – 12h00 TOTAL MARKS: 100 MODERATOR: Dr D Mukuvisi INSTRUCTIONS TO THE CANDIDATE: 1. Questions must be attempted in the answer book provided. 2. All queries should be directed to the invigilator; do not communicate or attempt to communicate with any other candidate. 3. You have THREE
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The Puritans of the New England colonies influenced the development of political‚ economical‚ and social areas throughout the 1630’s-1670 with their ideas and values. They had emigrated from Britain in order to express their beliefs and practices freely. Religion was the foundation of the political‚ economical‚ and social developments of the Puritans. From government to living conditions to religious acts‚ the Puritans were trying to purify the Church of England in their own ways. Some things worked
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Georgia Colony In 1932‚ James Oglethorpe led a group of trustees that chartered to Georgia and made a colony to perform a social experiment on man’s capacity to improve. Not long after the colony began‚ the colonists began to complain and disapprove of the government they were under. The trustees set strict rules and did not give the settlers the same benefits that other colonies got. By the 1950’s‚ all of the trustees gave up on their experiment and Georgia became a royal colony. The trustees
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ECONOMICS CHAPTER 1- INTRODUCTION TO ECONOMICS ● Assumed 3 decision makers- consumers (households) – that sell land‚ labour‚ capital & entrepreneurship and firms- that pay rent‚ wages‚ interest and profits (rewards for above factors of production ) firms then use the factors to produce G/S in return for payment from consumer. Govt imposes taxes on individuals and (income tax) and firms (corporate tax) to provide infrastructure and other services to community ● Econon’s 2 basic assumptions
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sManBal1e_CH19 02/09/10 5:36 PM Page 537 CHAPTER 19 Financial Crises There was a time when the credit markets had essentially frozen and when blue chip industrial companies were having trouble raising money. I knew then we were on the brink...We easily could have had unemployment of 25 percent.” —Henry M. Paulson (former Treasury Secretary)‚ commenting on the state of the U.S. economy in 2008 hroughout this book‚ we have seen that many kinds of shocks can decrease an economy’s output
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Unit 1 Essay: The Colonial Period Slavery was a major part of southern colonial life between 1607 and 1775‚ and grew exponentially due to the encouragement of the economic‚ geographic‚ and social factors in the Southern colonies during that era. Things such as large plantations‚ cheap labor‚ and misconceptions of the African race greatly affected the way slavery was viewed in the American colonies. Often‚ it was thought of as a necessary evil; or‚ even more often‚ just necessary. There were many
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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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The British North American colonies or the 13 original colonies‚ had freedom but not like you would think. The extent to which religious freedom existed in the British North American colonies prior to 1700’s‚ was different from region to region. The colonies in New England‚ Middle‚ and south region treated freedoms differently. In the New England colonies extent to religious freedoms was not great‚ Middle Colonies had good toleration to religion‚ and The Southern Colonies had a bit of tolerance to
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Economics and Scarcity Problems In most countries the birth rate has fallen as incomes and the economic opportunities for women have increased. The expansion of women’s income has discouraged fertility. Women have found it more expensive to have kids because of time and limited resources. First being a full time Mother can conflict with the amount of time away from the house. It cost money to have someone watch kids during the day. Women rather only have one or two children because excessiveness
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