TOPIC - 2 DEMAND‚ SUPPLY AND MARKET EQUILIBRIUM The term ‘price’ has a great relevance in economics. In ordinary usage‚ price is the quantity of payment or compensation given by one party to another in return for goods and services. It is generally expressed in terms of units of some form of currency. But how does a product sell for a certain price‚ what constitutes the price of a product and how is the price determined is the bigger question. In economics‚ for a competitive market
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Demand forecasting Demand Forecasting is the activity of estimating the quantity of a product or service that consumers will purchase. Demand forecasting involves techniques including both informal methods‚ such as educated guesses‚ and quantitative methods‚ such as the use of historical sales data or current data from test markets. Demand forecasting may be used in making pricing decisions‚ in assessing future capacity requirements‚ or in making decisions on whether to enter a new market. •
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Assignment 2 Problem 3.1: QD = 317‚500 – 10‚000P (Demand) QS = 2‚500 + 7‚500P (Supply) Where Q is quantity measured in pounds of scrap aluminum and P is price in cents. Complete the following Price (1) | Quantity supply (2) | Quantity Demand (3) | Surplus (+) or shortage (-)(4) = (2) – (3) | 15¢ | 115‚000 | 167‚500 | -52‚500 (shortage) | 16 | 122‚500 | 157‚500 | -35‚000 (shortage) | 17 | 130‚000 | 147‚500 | -17‚500 (shortage) | 18 | 137‚500 | 137‚500 | 0 (Equilibrium) | 19
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1.1 Why Do People Communicate? People communicate in many different ways and also for many different reasons. There are a wide variety of ways in which people communicate however there are specific reasons as to why each individual does. For example: to give information to another individual to receive information from another individual to give instructions to another individual to retrieve information from another individual to discuss certain situations among individual(s) to make individuals
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EXPLAIN WHY EFFECTIVE COMMUNICATION IS IMPORTANT IN DEVELOPING POSITIVE RELATIONSHIPS WITH CHILDREN‚ YOUNG PEOPLE AND ADULTS. Good communication is key to building strong and lasting relationships with children‚ young people and Adults. We begin this process with children as they start school‚ develop it as they grow older and maintain as we become adults. Clear communication is vital when working in a support role in an educational environment. Children beginning school for the first time will
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Data‚ Results‚ Calculations and Discussions Preparation of 250-mL 0.1 M NaOH Solution: Wt. of NaOH= (vol. of Sol’n) (M of Sol’n) (MW of NaOH) = (250 mL) (0.1 M NaoH) (40.0g/mol NaOH) Wt. of NaOH= 1.00 g • One gram of NaOH pellets was weighed and dissolved in distilled water. The solution was diluted to 250 mL. Table 1.Weighing of KHP (weighing by difference) |Replicate |Wt. of container -sample‚ g |Wt. of KHP
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Production Possibility Curve (PPC): Matthew Du A production possibility curve (PPC) also recognized as a production possibility frontier (PPF) is a helpful graph which shows the variations of two or more goods and services that can be produced while using all of the available resources efficiently (using all resources to its full potential) . (Riley‚ 2012) A production possibility curve may illustrate; scarcity‚ choice‚ opportunity cost‚ unemployment and economic growth. There are three basic
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Explain why the Decree for the Protection of people and state was issued in February 1933 (12 marks) The Decree for the Protection of People and State‚ also known as the Reichstag Fire decree‚ was issued by the Hitler in February 1933 and was essentially a means for the Nazis to consolidate their power. The decree suspended many of the civil and political rights that had been brought about under the Weimer constitution. It restricted various liberties such as private telephone calls and allowed the
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Go to the Reserve Bank of Australia (RBA) website‚ find the statistic section‚ and then download the data file named “Zero-Coupon Interest Rates - Analytical Series -2009 to current”. (2) Plot the zero-coupon yield curve on October 1‚ 2009. (3) Based on the yield curve on October 1‚ 2009‚ calculate the expected rates on zero-coupon bonds with one-quarter maturity that are to be sold on the first day of the quarter that starts one‚ two‚ three and four quarters from Oct 1‚ 2009 respectively
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Are viruses alive? Explain why you think viruses are alive or not. Viruses are not alive. This is because even though viruses are made up of molecules (proteins‚ nucleic acids‚ carbohydrates and lipids)‚ they cannot do anything on their own‚ until they enter or come into contact with a living cell. Viruses cannot multiply without having a host cell to initiate the process. Another reason would be that viruses don’t actually do anything on their own. Whenever a virus comes into contact with a cell
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