assumptions that economists make about individuals and firms? What is the role and significance of prices in the market economy? What’s so great about a market economy anyway? Chapter 2: Incentives Matter Explain how each of the following relates to efficient outcomes in a market economy: Adverse selection‚ “perverse incentives”‚ principal agent problem‚ and the prisoner’s dilemma. Chapter 3: Government and the Economy In your own words‚ explain what an externality is. Besides
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regulation of state and economic interests. The modern world of information builds its own priorities‚ based on new types of opportunities of the media and media content. Media content are messages produced by mass media such as Internet‚ newspapers‚ magazines‚ books‚ video entertainments and television. People have great opportunities of getting information they need in short time. Mass media are important functions of political literacy of citizens and an important channel of political communication (Louw
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The Political‚ Economic and Social Aspects the Enlightenment The Enlightenment‚ also known as Age of Reason‚ was a cultural movement that spread through England‚ France‚ Germany‚ and other parts of Europe. The Enlightenment mainly focused on mathematics‚ science‚ art‚ philosophy‚ politics and literature in the 1700s. This movement took away the fear of the world and the medieval views that were placed upon the people for so many years‚ and it also opened their eyes to new ideas and reason. Old
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Question 1: During the 1990s‚ technological advance reduced the cost of computer chips. Explain‚ with the use supply and demand diagrams‚ how the following markets are affected in terms of prices and quantities. a) Computers b) Computer software c) Typewriters a) DEMAND- Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity
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Cultural ‚ Political‚ and Religious Interactions in Ancient Asia By Eunice Andong‚ Grade 10 Since Asian countries came in contact with each other‚ Cultural‚ Political‚ and Religious interactions between them‚ began. The Ancient Asian countries’ interactions with each other play a big role in affecting how the Asian countries are today. Political contacts and interaction were most often made because a country wanted to become allies to gain military security‚ or to join their forces to fight
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undergoing a key component of history‚ the age of exploration. The age of exploration marked the beginning of a globalizing world‚ and emerged as a key component of European culture during this time. Many lands that were previously unknown to the Europeans were discovered‚ though many of these lands were already inhabited by those indigenous to the nations. European missionaries and traders sought to accommodate themselves and their practices to the non-Europeans to the expectancies of Asian and Indigenous
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periods is the use of the new world and the use of all of its resources for economic gain of the Europeans. The new world was a lush land that had been hardly used which left lot of economic opportunity to be had. During the time between 1450 and 1750‚ the new world was just starting to be settled by Europeans‚ starting with Columbus reaching the Americas in 1492 (when he sailed the ocean blue). This period was used by the Europeans to conquer any empires and enslave workers to work there new empires and
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Humans in technology environment are not very free from natural selection. According to Charles Darwin‚ natural selection acts only for the good of each organism‚ so since our very first human ancestors had no natural defenses‚ they would die from what is considered today an insignificant disease. It was throughout millions of years‚ that the human body started to build an immunization to certain diseases and only the stronger humans were the ones to survive and carry on that trait. Likewise‚ having
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Imperialism is defined as the domination by one country of the political‚ economic‚ and cultural life of another nation or region. European imperialism increased dramatically between 1870 and 1920. This was in effect to the economic‚ political and social forces at play; such as the Industrial Revolution. With the advances in technology‚ European nations were able to dominate several parts of the world. The new imperialism that started in the late nineteenth and early twentieth centuries‚ was affected
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Harbor attack. The citizens of the US only heard stories of what was happening in Europe. They needed more visual pieces of information to explain the situation. The political cartoons from World War II use humor‚ empathy‚ and fear to sway the reader to believe the Axis is evil. Theodore Geisel‚ better know as Doctor Seuss‚ was responsible for many political cartoons of this time period. Geisel is one of the most popular author of children’s books and used cartoons to support the US in Europe. In
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