The basic economic problem of scarcity refers to the situation in which finite factor inputs are insufficient to produce goods and services to satisfy infinite human wants. It is incontrovertible and irrefutable that all societies face the basic problem of scarcity due to limited resources and unlimited wants. Scarcity makes it necessary for us to make the most of what we have. In trying to obtain the highest level of satisfaction from available resources‚ good or rational choices have to be made
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6.2a The objective of this problem is to found the price charged by Peter. Firstly‚ the below table illustrate all P‚ TR‚ TC‚ MR and MC when there is different Number of member served (Q). No. of member served (Q) Price per member(P) Total revenue (TR) Total cost (TC) Profit Marginal revenue (MR) Marginal cost (MC) 1 400 400 190 210 400 190 2 380 760 380 380 360 190 3 360 1080 570 510 320 190 4 340 1360 760 600 280 190 5 320 1600 950 650 240
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MAIN PROBLEMS FACED BY THE CUBAN ECONOMY AND WHAT THE GOVERNMENT IS DOING TO TRY TO SOLVE THEM Joaquín P. Pujol For quite some time the Cuban economy has been facing a number of economic problems. There has been minimal recovery from the near 80% collapse in the population’s real income levels since the suspension of the subsidies provided by the Soviet Union in 1989; in fact‚ the official wage rate remains at about 25% of its 1989 level (See Figure 1). Figure 1. Cuba: Real Inflation-Adjusted
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government. Now‚ Sierra Lone is facing not only economic issues as one of the poorest nation in Africa‚ but also political issues that are triggered by years of the civil war and violence under Joseph Saidu Momoh‚ who was the President at the time‚ as well as social events that took an enormous lead on the country today’s situation. I would like to present the nature of underdevelopment of Sierra Leone based on economic issues such as: high poverty‚ economic dependence on advanced countries‚ and underdevelopment
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4 Bangladesh* – Dr. Atiur Rahman and Mohammed Abu Eusuf1 B angladesh 2 is one of the most densely populated countries in the world. The poor Bangladeshi economy‚ with a low per capita income and a large population‚ reveals some clue to the abject humanitarian situation in the country. PROFILE Population: GDP (Current US$): 51.9 billion*** Per Capita Income: (Current US$) Recently‚ Bangladesh has introduced a freely floating exchange rate system. Since the abandonment of the
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Annotation The problems of translation of economic terms in bilingual periodicals published in Ukraine (on the basis of newspaper “Den’/The Day”‚ “Dzerkalo Tyzhnia/Mirror Weekly”). Object: to analyze linguostylistic‚ lexical‚ grammatical and pragmatic problems of translation. According to the classification of Katherine Rice‚ newspaper publications belong to the pragmatic type of texts. That is why the problems of translation should not be limited only to the linguostylistic analysis. In
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ii. Media: - carry news‚ features‚ editorial opinion iii. Government: - iv. Citizen-action: - v. Local: - vi. General: - vii. Internal: - Macro Environment The larger societal forces that affect the macro environment – demographic‚ economic‚ natural‚ technological‚ political‚ and cultural forces. Key Forces in the Macro Environment 1. Demographic The study of human population in terms of size‚ density‚ location‚ age‚ gender‚ race‚ occupation and other statistics. - Worldwide
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What Is Macro Environment? The major external and uncontrollable factors that influence an organization’s decision making‚ and affect its performance strategies. These factor includes the economic factors; demographics; legal; political‚ and social conditions; technological changes; and natural forces. Macro environment factors are beyond the control of an organization. This is because those factors are positioned outside the organizational system. Those forces are the prime factors in corporate
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Task The chancellor said employers would be forced to pay staff a minimum of £7.20 an hour from next April 2016‚ and raise wages by 6% a year on average to around £9 an hour by the end of the year 2020. 1. How the changes to minimum wage could possibly affect the unemployment rate 2. What will be the macroeconomic effects of minimum wage change in the economy? Introduction In this report I am going to highlight how the increase of the minimum wage could possible affect the unemployment rate and
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The Problems and Prospect of Ship Breaking Industry in Bangladesh: An Overview Presented by Iftekhar Uddin Chowdhury‚ PhD Professor of Sociology University of Chittagong Bangladesh Introduction • • • • Turn discarded ships into scrap Corrosive‚ noisy and dusty in nature Terrible working conditions Environment pollution due to emission of toxic and pollutant gases • Employment generation (about two hundred thousand workers) • Provide 70% raw materials for MS Rod • About
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