MICROECONOMICS CHAPTER 1 INTRODUCTION TO ECONOMICS ____________________________________________________________________________________________ 1.0 INTRODUCTION – THE SUBJECT MATTER OF ECONOMICS Economics comes from the verb ‘to economise’‚ and this means making ends meet. This is a study of how society makes decisions‚ regarding the allocation of scarce resources. Economics as a subject is divided into two parts; Economics‚ social science concerned with the production‚ distribution
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Should the law in relation to contact and residence orders be amended to include a presumption that children should live with their genetic parents‚ unless their welfare positively demands otherwise? There has been much debate to the law in relation to contact and residence and whether there should be a presumption that children should live with their genetic parents unless their welfare positively demands otherwise. This essay will look at the advantages and disadvantages on whether the child’s
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Methods of Development: Writing Routine‚ Good-News‚ and Goodwill Messages Most business communications can be prepared by following one of three patterns or methods of development: Direct Order‚ Indirect Order‚ or Persuasive Order. This lecture will discuss the direct order that is used for most routine‚ good-news and goodwill messages. Learning Objectives: □ To understand methods of development for writing routine business messages. □ To recognize structure of
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INSTRUCTOR GUIDE FIREFIGHTER SAFETY TOPIC: The "10 Standard Firefighting Orders" The “18 Fire Situations that Shout "Watch Out" LCES TIME FRAME: 1 Hour LEVEL: 1 BEHAVIORAL OBJECTIVE: Condition: A written or oral quiz Behavior: The student will list or recite the 10 standard orders. Standard: With a minimum of 70% accuracy REFERENCES: Wildland Firefighting‚ Clayton‚ Day and McFadden‚ Chapter 12 IFSTA
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B. C. D. Are fixed in amount. Are the same each time period. Typically do not differ between options. Are not committed. 4. A special order is: A. B. C. D. E. Typically expected. A profitable opportunity to sell a specified quantity of a firm ’s product or service. Typically unexpected. A particularly large customer order. A rush order. 5. Special orders: A. B. C. D. Are frequent. Are infrequent. Commonly represent a large part of a firm ’s overall business. Can never be profitable to a firm
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ECONOMICS the branch of knowledge concerned with the production‚ consumption‚ and transfer of wealth. the social science that studies economic activity to gain an understanding of the processes that govern the production‚ distribution and consumption of goods and services in an exchange economy. SCARCITY: THE NEED TO CHOOSE Scarcity is the fundamental economic problem of having seemingly unlimited human wants in a world of limited resources. It states that society has insufficient productive
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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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second order information. Second order information refers to the conjecture of the background information or concealed meaning of a communicated message. The communicated message’s phrases are analyzed beyond their initial literal meanings in order to decipher any expectations or intentions the message may deliver. Various mediums of communication allow for different ways to interpret second order information and new communicative technologies produce new ways to incorporate second order information
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Rachel Krohn Mrs. Barnes English IV/ Period 1 3rd March 2014 Birth Order The definition of birth order is the rank of siblings by age. The first-born is the oldest child‚ the second born is the middle child‚ and the last-born is the youngest child. The definition that people need to pay more attention to though is psychological birth order‚ which is a child’s self-perceived position in their own family. Usually‚ each child in a family is treated differently depending on their rank. The oldest
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