Inventions Inventions have shaped the growth of civilization since the beginning of time‚ but can an invention actually do more harm than good? Who is at fault? Should those who came up with the ideas be to blame? In answer to the first question‚ yes. Take gunpowder as an example; gunpowder was first used in China for entertainment‚ such as fireworks (Pyro universe‚ History of fireworks). However‚ when the invention went into the wrong hands‚ it became a weapon‚ which made it do more harm than
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more information. We know that the demand for a product is elastic if: Select correct option: When price rises‚ revenue rises. When price rises‚ revenue falls. When price rises‚ quantity demanded rises. When price falls‚ quantity demanded rises The demand for chicken is downward-sloping. Suddenly the price of chicken rises from Rs. 130 per kg to Rs. 140 per kg. This will cause: Select correct option: The demand curve of chicken to shift to the right. The demand curve of chicken to shift to the left
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“Effects of Taxes on Demand and Supply” Definition: A fee charged ("levied") by a government on a product‚ income‚ or activity. If tax is levied directly on personal or corporate income‚ then it is a direct tax. If tax is levied on the price of a good or service‚ then it is called an indirect tax. Overview: The legal definition and the economic definition of taxes differ in that economists do not consider many transfers to governments to be taxes. For example‚ some transfers to the public
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Demand and supply analysis of gold Gold is a precious metal which holds great value. It is yellowish in colour and it is used in making jewels and other valuable assets. It represents a store of wealth and economic strength to the world and is a strong force in international monetary command. Gold is the “backbone of all economies” (Baber et al.‚ 2015‚ p. 1). The investment role of gold has become significant in recent times after the 2008 financial crisis. The gold possesses strong‚ imperishable
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Topic 5 – Demand‚ Supply and government policy (Week five Oct 6th – Oct 13th) Outline: 1. Price Ceiling: -- General Analysis; -- Example: Rent Control; 2. Price Floor: -- General Analysis; -- Example: minimum wage law; 3. The Incidence of Sales Tax -- Key Results; -- Numerical Examples: a)Tax levied on sellers; b)Tax levied on buyers; -- Elasticities of demand and supply; Price Ceiling A legal maximum on the price at which a good can be sold 1) General Analysis Price 12 PE 8 Shortage 16 QE
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the market supply shift to the left and therefore result in higher prices. What price would prevail in long-term equilibrium? The price that equals the level of minimum average total costs will be the prevailing price in the long-term equilibrium position. Illustrate your answers with separate graphs for the catfish market and typical farmer. Q8: Graph the market behavior described in the Headline on p. 131. The behavior described in the Headline on p. 131 is one in which numerous firms
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effect of a hot summer on ice cream demand 3. Show the effect of the use of a cheaper ice cream manufacturing method on the ice cream supply. 4. What are the resulting changes in equilibrium price and the quantity traded? You will be assessed against the following criteria: The accuracy of your answers The appropriate use of graphs and diagrams to address the problem The structure and clarity of the essay The thoroughness of your answers Your written communication skills Theory
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history or past isn’t true at all because of DNA genealogy. If you thought that your ancestors we’re Puerto Rican and they actually turned out to be Mexican. Would you freak out? Would you have to change your ways? Would you change your traditions? A genealogical DNA test examines the nucleotides in specific locations on a person ’s DNA to find out where a person’s ancestor comes from. The test results are not meant to have any medical information and the test results do not determine genetic diseases
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The Media’s Influence on Body-Image of Young Women Ashley Tokaruk Young people are bombarded with copious numbers of advertisements on a daily basis‚ many of which unintentionally causing negative body-imagine in naive minds. I am a part of our city’s dance community and have seen first hand many mental disorders develop in young people all to attain the ’ideal’ body type‚ often flaunted in advertisements through different forms of media outlets. Watching this sickness occur in girls around
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Supply and Demand Simulation Timothy J. Vrabel Axia College University of Phoenix In the video‚ several principles and concepts of microeconomics and macroeconomics were simulated. In the simulated neighborhood of Atlantis‚ there are many amenities that customers demand. The simulation uses two bedroom apartments to teach the fundamentals of supply and demand. Several scenarios were used throughout the simulation to represent challenges with which management needed to contend. The scenarios
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