stood at 7‚769 units while 2‚844 units of the Sumo‚ Safari‚ Aria and Venture range were sold in February. The company did not disclose reasons for this drastic fall and added it had exported 3‚996 vehicles during the month. The country’s car industry suffered its steepest decline in sales during the current financial year as eroding customer confidence hit sales in February. This is in rank contrast to February 2012‚ when carmakers reported their biggest sales increase during that financial year
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however is not as cut and dry as it may sound‚ for humans are fickle and finicky by nature. The study of economics and be divided into microeconomics and macroeconomics. Macroeconomics is the study of the entire economy in a society. It takes into consideration the rate of inflation‚ business cycles‚ business growth and the rate of unemployment. Microeconomics is the study of individuals and how their choices influence the flow of the economy. For example‚ the price of gas in California is about
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Microeconomics Positive economics This is the use of economics to describe the activities which are happening in the world It is also called “what is” or “descriptive” Normative economics This is the use of economics to recomment changes. It means advicing on how things “shoud be” It is also called prescriptive analysis The market economy An economy that is entirely run by the market forces demand and supply and there is no government involvement in the economy A pure market economy
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branches that is micro and macroeconomics MICROECONOMICS: Micro means ‘Small’ so it indicates study of small economic units. The word micro is derived from a Greek word Mikroos. Microeconomics is the study of the economic system from the perspective of households and business firms; it focuses on the nature of individual consumption and production units within a particular market or economic system. Also Microeconomics is the study of decisions that people and organizations make
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Collusion is common among oligopoly firms. Discuss the factors that make collusion likely to succeed. Use the relevant industry to support your answer. Oligopolistic firms are known to be independent as there are only a few sellers dominating the market; therefore changes in the price‚ sales or output of a firm will surely affect their competitors. The telecommunication industry in Malaysia exhibits the oligopoly market. For instance‚ Maxis or Digi customers are more likely to subscribe to Celcom
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Market Competition Robert McGill BA 201 Microeconomics 4 April 2011 Market Competition 1. Fill in the table below. Assume TC stands for Total Cost‚ TFC as Total Fixed Cost‚ TVC as Total Variable Cost‚ ATC as Average Total Cost‚ AFC as Average Fixed Cost‚ AVC as Average Variable Cost‚ and MC as Marginal Cost. TC TFC TVC ATC AFC AVC MC Units of Output 0 20 20 0 0 0 0 0 1 21 20 1 21 20 1 1 2 24 20 4 12 10 2 3 3 32 20 12 10.67 6.67 4 8 4 48 20 28 12 5 7 16 5 75 20 55 12
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Bond & Free Analysis “Bond and Free” by Robert Frost personifies two entities “Love” and “Thought” as if they exist and exhibit qualities of human beings‚ rather than being effects of the human heart and mind. Frost uses capitalization to begin each entity as if each were formal given names of each entity. Frost begins by referring to Love. Love is described as being grounded and clinging to the earth. It has “circling arms about”. With these descriptions‚ Frost conveys that Love is needy and
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MicroEconomics 102 Problem Set #1: Chapters 1-4 Due Date: September 20th Name: _______________ 1. Discuss the opportunity costs of attending college for four years. Is college more or less costly than you thought it was? Explain. Luckily for me my Education is being paid for the by United States Government. I have had many unforeseen costs‚ such as rent‚ bills‚ food‚ gas‚ and many other things. 2. A friend pays for your lunch. Is this an example of a “free lunch”
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Competitive Rivalry The Competitive Rivalry in South Africa is high and will continue to increase as new Providers enter the industry. * The Competition is based on price and quality. The entry of every new Customer brings with a new set of price cuts and hence intensifies competition between cell phone provo=. Major threats currently: * Cell C‚ because they are a low cost service provider of many services‚ and this has helped Cell C to penetrate the market. * MTN and Vodacom offer
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The world consumes nearly 2.5 billion cups of it per day. Farmers depend on it for their livelihoods. It has worked its way up to become the second most traded commodity in the world and become such a big part of the economy. What is it? Something no bigger than the size of a paper clip‚ the coffee bean. Nearly ninety five countries in the world depend on coffee exports for at least half of their exporting revenue. Only countries that have a warm‚ dry climate‚ are about 1‚500 meters above sea
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