Economics is the study of social behavior guiding in the allocation of scarce resources to meet the unlimited needs and desires of the individual members of a given society. Economics seeks to understand how those individuals interact within the social structure to address key questions about the production and exchange of goods and services. First‚ how are individual needs and desires communicated such that the correct mix of goods and services become available? Second‚ how does a society provide
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destroyed? How much Direct Materials inventory was destroyed? 2. All of the following are true EXCEPT that indirect costs A. may be included in prime costs. B. are not easily traced to products or services. C. vary with the selection of the cost object. D. may be included in manufacturing overhead. 3. At a breakeven point of 200 units‚ variable costs total $400 and fixed costs total $600. The 201st unit sold will contribute how much to profits? (6 pts)
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between children‚ young people or adults. Body language‚ tone of voice and eye contact can tell us a lot about a person and also helps us determine how we are going to respond appropriately. Within the classroom we need to communicate effectively as we will come across a lot of different people with different personalities. To communicate effectively with someone you need to be on the same or similar level to them. If a teacher or teaching assistant is standing over a child instructing them to do
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Introduction THE NATIONAL INCOME One of the basic questions facing economics centers on whether the total output of goods and services is growing from year to year or it remains static. This question is very important because countries are keenly interested in the performance of their economy. National income estimates enable countries to calculate the total production of goods and services in a year. The lecture also focuses on the measurement of national income and their problems‚ uses
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|People credited with this unit standard are able to: set‚ agree‚ and update objectives for the work | | |team; develop a plan to achieve the objectives; source‚ allocate‚ and adjust resources to achieve the | | |objectives; and monitor and evaluate the effectiveness of the plan in achieving the objectives. | |Classification |Business Operations
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Topic: Explain the major components of the legal system. Question: Which of the following is a distinguishing feature of a common law legal system? Answer Rationale: Although in the U.S. legal system guilt must be proven beyond a reasonable doubt in criminal matters and there is an appeal process‚ neither of these qualities is integral to a common law legal system. The opposite of a common law legal system is a legal system where the sole source of law is a comprehensive civil code
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anyone in his way. For him‚ the people in his way were the Jews. Many of the leaders of the Communist Party were Jews‚ and Hitler was threatened by their power. The German people were afraid of what might happen if the Jews gained control. In his attempt to gain world power‚ Hitler imprisoned‚ tortured‚ and murdered more than six million Jews. Life before the Holocaust was very nice for many European Jews. Jewish people lived in every country in Europe. There were roughly nine million all
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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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Organisational culture has been widely researched over the years because of the important benefits that arise from a strong culture in aiding organisations to succeed and grow. Understanding how to build‚ maintain or modify an organisation ’s culture ’ (McAleese‚ D & Hargie‚ O. 2004 p.155) is essential to achieving a competitive advantage as organisations can have a direct influence on attitudes and behaviours of the employees within an organisation. (Robbins‚ Millett‚ Cacioppe & Waters-Marsh
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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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