There are several main functions of money. They are; unit of account‚ medium of exchange‚ and store of value. Each function describes how money is used in the economy. The medium of exchange speaks to how we use money in exchange for goods. It is like a barter to get someone that has what I want to give it to me in exchange for something that they want. Money makes this an easier exchange. Everyone wants money‚ as it allows them to turn around and purchase what they want. If not for money we would
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Question No. 1 P: 219 Explain the difference between short run and long run production function; cite one example of this difference in a business situation. The short run production function shows the maximum quantity of a good or service that can be produced by a set of inputs‚ assuming the amount of at least one of the inputs used remains unchanged. While a long run production function shows the maximum quantity of a good or service that can be produced by a set of inputs‚ assuming the
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Public Relation Definition Public Relation is a management function that involves monitoring and evaluating public attitudes and maintaining mutual relations and understanding between an organization and its public. Public could include shareholders‚ government‚ consumers‚ employees and the media. It is the act of getting along with people we constantly come in touch with. The defeated definitions were "Public relations is the management function of researching‚ engaging‚ communicating
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businesses use mass media to promote their products which serves as a source of income for both the businesses (in the form of increasedsales) and the customer (in the form of providing value added information). Media is a great source of entertainment and public messages for the betterment of society. The critical reviews on articles regarding various social‚ business and ethical issuespublished in web and newspaper create an environment which fosters exchange of knowledge. Media is also a representative
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Theoretical Models of Public Policymaking The "Policy Process Theory" just described is a good model to describe public policymaking‚ but it has little explanatory power. In other words‚ you cannot make predictions from this model. It simply states that a policy first begins on an agenda‚ it is then formulated‚ adopted‚ implemented and evaluated. But it has no theoretical framework to allow one to predict how a policy ends up on the agenda‚ or if a policy will be adopted. The "Political
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Public Relations Publics This tells us that we cannot talk about public relations without reference to publics. A public is any group whose members have a common interest or common values in a particular situation. According to Wragg (1993)‚ public relations publics or audiences can be divided into four categories which include: 1. Functional Publics: They are those publics which enable the organization to perform its chosen tasks. 2. Enabling Publics: These are publics which permit the
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genuine productivity. The plan is essentially a road map to success and when it is clear and well written‚ the this map helps travelers find their way with little or no difficulty. Perhaps one of the most common examples of planning is in those functions‚ which relate to management of a sales force. Forecasting expected sales volume enables administrators to make decisions based upon the next fiscal period’s predictions. In many case studies‚ that I’ve reviewed‚ planning proved it more effective
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Linear Functions There are three different ways to write linear functions. They are slope-intercept‚ point-slope‚ and standard form. There are certain situations where it is better to use one way than another to solve a problem. It is important to understand and comprehend the mechanics of these three forms so that you know what form to use when solving a problem. The first form‚ point-slope‚ is written as y-y1=m(x-x1). M is the slope and x1 and y1 correspond to a point on the line. It’s good to
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banking sector plays a significant role in a contemporary world of money and economy. It influences and facilitates many different but integrated economic activities like resources mobilization‚ poverty elimination‚ production and distribution of public finance. It is purchase of car or building of home banks is always there to serve you better. It is playground or any educational or healthy societal activity the money of banks nurtures them. It is an industrial project or agricultural development
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1) What are the functions of language? (450 – 500 words) All forms of human life communicate with each other and humans are not unique in this capacity. Human forms of communication include verbal forms‚ body language and gestures. However‚ this communication system is learned instead of being biologically inherited. Children for example‚ acquire a language as they develop and grow and this miraculous language ‘instint’ (Pinker 1994) seems‚ at first glance‚ to happen effortlessly. As Romaine
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