important? 9) Explain the meaning of designing products quality. Why is this important? 10) Describe ‚Advantage and disadvantages of Standardization. 11) What are the location decision factors? 12) Give some examples of automation. How has automation changed the production process? 13) Define and Describe: a) Positioning of the production system in manufacturing and in services. b) Focus of factories and service facilities. c) Production process and technology plans. d) Allocation of resources to
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Analyse the effects of changes in the exchange rate of the Australian dollar (against other currencies) on the Australian economy. Fluctuations in the exchange rate of the Australian dollar can have significant implications on the Australian economy. The exchange rate is the price of one currency in terms of another economy’s currency. Typically in the case of Australia‚ the Australian dollar is measured in terms of the US dollar. Changes in the exchange rate‚ whether the alteration is an appreciation
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Demand‚ Supply and Price Market Buyers- households/demanders Suppliers- producers/firms Demand-The ability and willingness to buy specific quantities of good at alternate prices in a given time period Or the desire to buy a product‚ which is backed up by willingness and ability to pay for the it. • Quantity demanded- the amount of a product that the consumers wish to purchase. • Demand schedule- a table which shows the quantities of a good‚ a consumer is willing and able to buy at alternate
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global market for goods and services across geopolitical boundaries. Global sourcing often aims to exploit global efficiencies in the delivery of a product or service. These efficiencies include low cost skilled labor‚ low cost raw material and other economic factors like tax breaks and low trade tariffs. Common examples of globally sourced products or services include: labor-intensive manufactured products produced using low-cost Chinese labor‚ call centers staffed with low-cost English speaking workers
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each of these sectors are commonly termed consumption expenditures‚ investment expenditures‚ government purchases‚ and net exports. Aggregate expenditures (AE) are a cornerstone in the study of macroeconomics‚ playing critical roles in Keynesian economics‚ aggregate market analysis‚ and to a lesser degree‚ monetarism. In particular‚ aggregate expenditures are combined with the price level as aggregate demand. Aggregate expenditures are the total expenditures on gross domestic product. These expenditures
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were heard. That peoples natural rights were protected. Two political parties were dedicated to upholding the constitution‚ which each party interpreted differently. With modernization of society‚ rights changed and evolved. Which focused on meeting people’s needs‚ because of that parties changed too. Traditional American Republicanism The constitution was made to uphold a republic and the republic is meant to represent the people and uphold their rights. The only way to honor what the founding
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One example of this can be seen in the Pieter Bruegel the Elder’s painting “Landscape with the Fall of Icarus”. The painting depicts a town nestled away in a bay or harbor‚ showing the residents going about their daily businesses. Bruegel painted in many references to Icarus and his father Daedalus‚ thus allowing the viewer to see
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Economics 201A: Economic Theory (first half ) Tu-Th 12:30–2:00 150 GSPP 1 Description Economics 201A is the first semester of the required microeconomic theory sequence for first-year Ph.D. students in the economics department. The first half of the fall semester focuses on choice theory‚ consumer theory‚ and social choice. The second half will be taught by Chris Shannon and will cover general equilibrium. (A separate syllabus will be distributed for the second half.) In the spring‚ the
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presentation is focused on Dutch Golden Age landscape and seascape painting. A period in Dutch history generally spanning the 17th century‚ during and after the later part of the Eighty Years War (1568–1648) for Dutch independence. At that time‚ the Dutch republic was one of Europe’s most prominent states. It strength was manifest not only in politics and economics but also in the arts and sciences at Europe. II. Land‚ sea and sky paintings of the 17 century: Landscape painting was a major genre in the
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Three conditions are necessary before a market is considered perfectly competitive. These are: homogenous products‚ existence of many sellers and buyers‚ and perfect factors of production. Society finds these markets desirable for two reasons. The first reason is that the price charged to individuals equals the marginal cost of production to each firm. In other words‚ one could say sellers charge buyers a reasonable or fair price. Second‚ in general output produced under a perfectly competitive
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