Assume a consumption function that takes on the following algebraic form: C = $100 + .8Y. Assume that Y = $1000 what is the level of consumption at this income level. C = $100 + .8($1000) = $100 + $800 = $900. 1. Using the above figure calculate the marginal propensity to consume between the aggregate income levels of $80 and $100. Also explain why this consumption function is linear. The marginal propensity to consume is equal to $15/$20 = .75. The consumption
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process design? 8) Explain the meaning of designing products for ease of production. Why is this important? 9) Explain the meaning of designing products quality. Why is this important? 10) Describe ‚Advantage and disadvantages of Standardization. 11) What are the location decision factors? 12) Give some examples of automation. How has automation changed the production process? 13) Define and Describe: a) Positioning of the production system in manufacturing and in services. b) Focus of factories
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What is Economics? Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Economics explains how people interact within markets to get what they want or accomplish certain goals. Since economics is a driving force of human interaction‚ studying it often reveals why people and governments behave in particular ways. There are two main types of economics: macroeconomics and microeconomics. Microeconomics focuses on the actions
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Tiuana Goodfella Essay 3 An American social entrepreneur‚ David Green‚ recently stated the following: “Let’s face it. The market economy is based on a fundamental deception: I (a company) know how much it costs to make something‚ and I’m going to fool you‚ the consumer‚ into paying as much as possible. I find this assertion false and misguided. While some markets are more desirable than others‚ no one is being fooled into paying as much as possible. In the following essay I will evaluate each
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AND SOC TH AND SOCIAL CARE H SOCIAL CARE HEALTH A CARE HEALTH AND SOC AND SOCIAL CARE HEA RE QUALIFICATIONS HE ALTH AND SOCIAL CARE EXEMPLAR SOCIAL CARE HEALTH A CANDIDATE WORK CARE HEALTH AND SOC TH AND SOCIAL CARE H UNIT HSC 024 Principles of safeguarding and protection in health and social care Unit HSC 024 2 Unit HSC 024 CONTENTS Introduction Page 4 Unit Purpose Page 5 Evidence for Learning Outcome 1 ACS 1.1 and
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UNIT 3 Principles and practice of Assessment Educational assessment is the process of documenting‚ usually in measurable terms‚ knowledge‚ skills‚ attitudes and beliefs. Assessment can focus on the individual learner‚ the learning community (class‚ workshop‚ or other organized group of learners)‚ the institution‚ or the educational system as a whole. According to the Academic Exchange Quarterly: "Studies of a theoretical or empirical nature (including case studies‚ portfolio studies‚ exploratory
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1. The system helps to keep the peace Most fundamental principles of the trading system are helping trade to flow smoothly and dealing with disputes over trade issues. If trade flows smoothly and both sides enjoy a healthy commercial relationship‚ political conflict is less likely. Smoothly-slowing trade also helps people all over the world become better off because they are less likely to fight. The system is important as a confidence-builder as well. Governments are confident that others will
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pathogen) Glucose and lactose fermenter (most opportunistic enterics) TRIPLE SUGAR IRON CULTURE MEDIA - TSI MEDIUM Test whether a gram-negative rod utilizes glucose‚ and lactose/sucrose and forms H2S Contents: 1% lactose‚ 1% sucrose and 0.1% glucose (10:10:1) Ferrous sulfate and sodium thiosulfate Bacterium (acid envi.) + Sodium thiosulfate à H2S gas H2S + Ferric ions à Ferrous sulfide (black precipitate) Phenol red (ph indicator) Alkaline slant/Alkaline butt (K/K) NO FERMENTATION NOT MEMBERS
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Frankly‚ to know more about Islamic economic‚ lets briefly look at differentiation between Islamic economic and conventional economic. The first different is the role of moral values. Basically‚ conventional economics is more concern towards behavior and preferences of individuals as given. However‚ Islamic economics more concern on individual and social improvement throughout the moral elevation. This moral evaluation or known as uplift moral aims to the changes of individual and preferences of
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Definitions; Basic economic problem – Capital capital goods‚ or real capital are those already-produced durable goods that are used in production of goods or services. Command economy – economy where supply and price are regulated by the government rather than market forces Division of labour - Division of labour is the specialization of cooperative labour in specific‚ circumscribed tasks and like roles Enterprise- simply another name for a business. Free market economy - is an economy in
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