Economy of Ireland I. Introduction The economy of Ireland has transformed in recent years from an agricultural focus to a modern knowledge economy‚ focusing on services and high-tech industries and dependent on trade‚ industry and investment. Since the mid 1990’s‚ Ireland has experienced consistent growth rates of up to 10% per annum. This has been attributed to years of strong government planning through the implementation of five-year National Development Plans. These plans provided for large-scale
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potential output and why actual output can differ from potential output? (2 marks) Potential output is the amount of output that an economy can produce when using its resources such as capital and labour‚ at normal rates. Potential output is not a fixed number but grows over time‚ reflecting increases in both the amounts of available capital and labour and their productivity. As capital and labour can be utilised at greater than normal rates‚ at least for a time‚ a country’s actual output can
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voltmeter‚ spring balance‚ etc. 3 A base quantity is a physical quantity which cannot be defined to other physical quantities. 5 List of 5 basic physical quantities and their units. i) Light intensity unit candela ii) Amount of substance unit mol Derived quantities 1 A derived quantity is a physical quantity which combines several basic quantities through multiplication‚ division or both. 2 Determine the derived unit for the following derived quantities. t EMBED Equation.3 ForceFforce mass x
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1. Which of the following would most likely cause equilibrium quantity and price of x to rise? (a) a fall in income when the income elasticity of demand for x is positive Wrong. This will cause a drop in demand and thus a fall in quantity. (b) a fall in the price of complementary product y Correct. A fall in a complementary product will cause a rise in demand for that product “y” and thus a rise in demand of product “x” (see graph). (c) a fall in the price of substitute product Z Wrong
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An open economy is the opposite of a managed economy. It is one that is characteristically market-oriented‚ with free market policies rather than government-imposed price controls. In an open economy industries tend to be privately owned rather than owned by the government. In the area of international trade an open economy is one whose policies promote free trade over protectionism. On the other hand‚ a managed or closed economy is characterized by protective tariffs‚ state-run or nationalized
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Post-war Afghan Economy How National is the National Development Framework By SIBA SANKAR MOHANTY Afghanistan occupies a central significance in South Asia owing to its geo-strategic location and natural resources-but is considered as one among the poorest countries in the world. Being a small‚ land locked and poor country with around 85 percent of its population depending on agriculture‚ and its socio-economic structure being influenced in every respect by external forces for more than twenty
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Low Productivity In The Workplace In recent times‚ there have been numerous debates on the topic of low productivity in the workplace‚ which is defined as the organization’s inability to accomplish its maximum capacity. It is important to understand that every employer yearns to be as productive as possible‚ through a dedicated staff. According to managerial theorists‚ productivity is a very important issue in any organization. Some of the causes of low productivity in the workplace include
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(i.e. to purchase American automobiles)? 5. What are the benefits of globalization for the average person? 6. What are the drawbacks of globalization for the average person? 7. In what ways might globalization render the nation-state relatively weak (and is this necessarily a bad thing)? 8. Respond to those who assert that globalization is fueling nationalism‚ cultural reaction‚ and terrorist violence. 9. In what ways‚ if any‚ should globalization be stifled? 10. Can and should
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A Mixed Economy: The Role of the Market - Printer Friendly Page 1 of 2 You are here: About > Money > Economics A Mixed Economy: The Role of the Market From U.S. Department of State A Mixed Economy: The Role of the Market The United States is said to have a mixed economy because privately owned businesses and government both play important roles. Indeed‚ some of the most enduring debates of American economic history focus on the relative roles of the public and private sectors. The
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-:LINE FOLLOWING ROBOT:- One of the most basic autonomous robot you can build is a line following robot(LFR). This type of robot is run over a white surface which has an arbitrary path drawn over it by using back paint. The task of the robot is to run exactly along this painted path. You may note that the surface may also be black(or any other dark colour)‚ in that case the path is a light colour like white. Please watch the following video for a LFR in action. Designing an LFR: At minimum our
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