E conomists are a paragon of virtue‚ rationality and common sense amidst a sea of ignorance‚ superstition and irrationality. They are probably right‚ but‚ sometimes it is good to state a case in strong terms‚ to make people think. However‚ I feel there is a need to redress the balance and point out the many mistakes and limitations of Economics which are stated below. Economics is difficult John Maynard Keynes said economics is very difficult and many people underestimate how difficult it is
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Question 2. Choose the sector in South Africa Economy‚ which exhibits the features of Oligopoly. With more than 30 Million South African mobile phone owners according to data from the “SA Mobile Market “statistical handbook‚ and since this market is dominated by three companies‚ which exhibits the features of oligopoly in South Africa. Oligopoly refers to a few sellers with similar products and dominates the market and can influence each other. There are 3 mobile phone service providers‚ which
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1. StillWater Mining Company a) Interest Rate 12% Price per ounce $ 1‚500.00 Cost per ounce $ 400.00 Total ounces a year 10‚000 Profit per ounce $ 1‚100 Revenue per year $ 15‚000‚000.00 Cost per year $ 4‚000‚000.00 Profit per year $ 11‚000‚000.00 Every year for the next 10 years‚ the firm earns a profit of $11 Million. The cash flow (in $ Million) is shown below: Year T T+1 T+2 T+3 T+4 T+5 T+6 T+7 T+8 T+9 Profit 11 11 11 11 11 11 11 11 11 11 Using NPV formula‚ we find NPV=$62
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COMMUNICATION The term communication is freely used by everyone in modern society‚ including members of the general public‚ organizational behavior scholars‚ and management practitioners. In addition‚ the term is employed to explain a multitude of sins both in the society as a whole and in work organizations. Despite this widespread usage‚ very few members of the general public—and not a great many more management people—can precisely define the term. Part of the problem is that communication experts
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Differences between interest groups I once had a Supervisor called Gregory under me who constantly received direct instruction in a negative way from a Key Account Manager in our Corporate accounts department named Moses. The manner in which communication was initiated caused the conflict - Differences between interested groups. Differences between levels of individuals I have two Technical advisors currently named Faizel and Gaaratwe. Faizel recently started he claims that there is somehow more
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ch2 Student: ___________________________________________________________________________ 1. Record levels of American outward foreign direct investment from 2000 to 2009‚ totaling more than $2 trillion‚ caused U.S. exports to decline during this time period. True False 2. Small and medium-sized enterprises accounted for nearly one-third of all U.S. exporters. True False 3. International trade includes exports‚ imports‚ and foreign direct investment. True False 4. Importing and foreign direct
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is essential to an understanding of communication as a key feature of care. To elaborate on this statement‚ we need to understand the definition and meaning of communication and its role in health and social care. Finnegan (2010) cited in Robb et al (2010) argues that communication is both a human and an interactive process which embraces a range of activities and uses resources‚ thinking about the implications of interactions in care settings. Communication is central to the quality of services
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MEANING SCOPE AND METHODS OF MANAGERIAL ECONOMICS INTRODUCTION Emergence of managerial economics as a separate course of management studies can be attributed to at least three factors.: (a) growing complexity of business decision making process due to changing market conditions and business environment (b) consequent upon‚ the increasing use of economic logic ‚ concepts theories and tools o economic analysis in the process of business decision making (c) Rapid increase in demand for professionally
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Science of Managerial Economics Running successful businesses requires involvement of well experienced and talented managers; all companies’ stakeholders concern‚ in running companies‚ is to make profits and expectation is on managers’ part to make such desire become the fact of reality. One of the tools managers use to analyse company’s performances and be able to make intelligent decisions- for further profitability and sustainability of the corporations- is by economical tool. “managerial economics
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Unit 1: A1 P1: Communication information and skills. * Explain the role of effective communication and interpersonal interaction in health and social care context: One to One: One to one communication is when two people have a conversation and they both listen to each other and take in turns to talk. You could use this in health and social care when you talk to your GP and you both ask questions and listen to each other. You use this in health and social care because you can have more of an
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