Summer Reading: Naked Economics Chapter 1: The Power of Markets 1. What are the two basic assumptions that economists make about individuals and firms? The two basic assumptions that economists make is that individuals do what they can to make themselves as well off and prosperous as possible and that firms attempt to maximize profits. 2. What is the role and significance of prices in the market economy? With demand rising‚ the price of a particular item will usually go up. This means
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Chapter 3: Government and the Economy In your own words‚ explain what an externality is. Externality is very easy to explain. An externality is the measurement of the difference in what something costs for you and what it costs for society in economics. Besides addressing externalities‚ what other important and beneficial roles does government play in our economy? Governments play
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Applied Heat past Examination Questions 1. An Ammonia refrigerator is to produce 2 tonne of ice per day at -4°C from water at 20°C. if the temperature range in the compressor is between 25°C and -6°C‚ Calculate horse power required to derive the compressor. Latent Heat of ice = 80 kcal/kg‚ and specific heat of ice= 0.5 2. A compressor draws 42.5 m3 of air per minute in the cylinder‚ at a pressure of 1.05 kg/cm abs. It is compressed Polytropically pV1.3=C to a pressure 4.2
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MANAGERIAL ECONOMICS ASSIGNMENT Question 1 a. Explain the production possibilities frontier (PPF). [2 marks] b. Analyse what it means for the PPF to be bowed out from the origin (curved)‚ and what it means for the PPF to be a straight line. [3 marks] c. State the Law of Increasing Opportunity Cost and explain why it holds. [3 marks] [TOTAL: 8 MARKS] Question 2 a. “As
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ECON EXAM 3 QUESTIONS Competitive Supply A perfectly competitive firm maximizes profit by producing the quantity at which: MR = MC. Consider a perfectly competitive firm in the short run. Assume the firm produces the profit-maximizing output and that it earns economic profits. At the profit-maximizing output‚ all of the following are correct except: price is equal to average total cost. People in the eastern part of Beirut are prevented by border guards from traveling to the western part of
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Elective History Final-Year Examination Revision Stalin’s Russia (SEQ Revision) A) How did Stalin Rise in Power? When we examine the reasons behind the rise of Stalin‚ there are TWO MAIN FACTORS RESPONSIBLE: • Stalin’s Cunning Personality o Stalin Outwitted His Rivals o Stalin Pretended to have been Close to Lenin o Made Alliances o Used His Position as Secretary-General of the Party • Favourable Circumstances o Trotsky’s Weaknesses 1) Stalin Outwitted
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Question 1 0 out of 0 points A balance sheet ________. Selected Answer: Answers: [None Given] is a list of all the cash collected and cash paid during a period describes the financial situation of a company at a specific point in time is a summary of all of the revenues minus all of the expenses for an accounting period shows the changes that took place in the amount of shareholders’ equity during a period Question 2 0 out of 0 points A deferral transaction is one in which ________. Selected
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these days. The need to prepare for tests and examinations is a restriction on teachers and also exerts unnecessary pressure on young learners. To what extent do you agree or disagree. Students nowadays are getting more stressed. We have to sit for lots of examination since we are small. Some of us even have their first examination at the age of four‚ when they are supposed to enjoy the beauty of the world without having the fear of failing an examination. It sounds crazy and ridiculous but the principals
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Andrea D. Lopez SMC 1311 May 8‚ 2013 Final Exam 1) What is justice according to Plato? How does Plato’s theory of the soul reflect his understanding of justice? Plato was a famous philosopher and a mathematician who lived from 429 to 374 B.C. Plato was the founder of The Academy of Athens and with the knowledge he gained from his professor‚ Socrates‚ he continued to spread his teachings to the youth. In the book‚ Republic‚ Plato defines justice as harmony with one self. If a person is content
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Sample Final Examination This Sample Examination represents the Final Examination that students complete in Week Six. As in the following Sample Examination‚ the Final Examination includes questions that assess the course objectives. Although the Sample Examination includes one question per objective‚ the Final Examination includes three questions per course objective. Refer to the questions in the following Sample Examination to represent the type of questions in the Final Examination. Refer
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