UNIT 1 – FUNDAMENTAL PROBLEMS OF ECONOMIC SYSTEMS 1.1 INTRODUCTION In this unit you will get acquainted with the fundamental problems of the economy. The understanding of the concept will help you bring closer to the basic idea of the economy’s problems as well as remedies of such problems. In this unit you will get detailed description of what is an economic system‚ problems of economic system‚ factors of production‚ concept of production possibility curve‚ and the fundamental of allocation of resources
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Nigerian roads: economic problems DEDICATION This work is dedicated to god almighty for his grace upon me through the accomplishment of this work. ACKNOWLEDGEMENT I must not fail to acknowledge the immense effort of the following persons who was very instrumental to the successful accomplishment of this term paper. My parents Mr./Mrs. Akwang‚ my lecturers and finally my exponents who helped in broadening my view on the course. ABSTRAT This write-up aroused that only
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history‚ war has been the catalyst sparking change that ultimately shapes an era. World War I is no different in this sense. The Great War led to tremendous loss of life and property. Additionally‚ it prompted significant technological advancement and alterations in warfare strategies. Finally‚ World War I changed the power structure of the world‚ paving the way for World War II. World War I was a very pivotal event in the Twentieth Century‚ laying the roots for future conflicts such as World War
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president of the United State a civil war broke out which lasted a whole four years‚ reasons were many and one of which is for stopping the slavery which was legal in the 11 southern states South Carolina‚ North Carolina‚ Texas‚ Florida‚ Alabama‚ Georgia‚ Louisiana‚ Mississippi‚ Virgina‚ Tennessee and Arkansas‚ they made the Confederate Unites States of America or CSA. The states that did not break away were called the union or the north. The war was fought primarily as a war of liberation from the Union
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The Impact of the First World War on British Society Author(s): Arthur Marwick Reviewed work(s): Source: Journal of Contemporary History‚ Vol. 3‚ No. 1 (Jan.‚ 1968)‚ pp. 51-63 Published by: Sage Publications‚ Ltd. Stable URL: http://www.jstor.org/stable/259966 . Accessed: 17/03/2013 23:29 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use‚ available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps
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The economic problem in every country does not change‚ but its level varies from one country to another. This problem is the problem of scarcity. To clarify more‚ it is the scarcity of resources versus people’s unlimited needs and wants. Every country has this problem; people can never be satisfied with what they have‚ they always want more‚ and hence their demands for goods and services are endless. Personally I believe that in Egypt‚ one of the major factors that contributes to a higher or increased
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Part A – Microeconomics: Question 1: Indicate whether each of the following changes in price cause total revenue to increase‚ decrease or remain unchanged? Explain why. (2 marks each) a Price falls and demand is elastic; b Price rises and demand is elastic; c Price falls and demand is unitary elastic; d Price rises and demand is unitary elastic; e Price falls and demand is inelastic. Question 2: a Define‚ describe and illustrate with a diagram‚ one opportunity cost
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World War II- the outbreak World War II‚ also called the “Hitler’s war” was the cruelest event in the 20th Century. Apart from that‚ it was a war between ideologies and ambitions. This essay is looking at what caused the outbreak of the war‚ without discussing the war itself or its outcome. Three types of causes are going to be discussed: deep causes‚ intermediate causes and precipitating ones. When it comes to the World War II‚ there are two different places which need to be focused on: The
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Critical Thinking Issue 1: Relate Microsoft’s problems with its control and evaluation systems to each of the stages of growth in the Greiner’s model. Organizational growth is similar to the life cycle of any living entity. The organization is birthed in an entrepreneur’s head and then goes through the growth cycles to create its own version of becoming a legitimate entity that the stakeholders find dependable‚ responsible‚ and having the ability to create value (Jones‚ 2010). As the organization
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about sums it up; a decade of great recklessness in Social‚ Political‚ and economic areas of life. Prohibition (1920-1933) was a great experiment called on by a religious‚ fundamentalist segment of the society. This forbade citizens from transporting‚ selling‚ or manufacturing alcohol. The idea was to stomp out dangerous and immoral behavior by neutralizing the effects of alcohol on society as a whole. This ultimately led to organizations of men creating bootleg alcohol. Many common Americans were
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