The micro-macro dilemma relates to a variety of circumstances and situations and is essential for numerous decisions daily that people make. This is particularly true for many of the business decisions that organizations make in concerns to marketing. From the perspective of marketing‚ high-powered engine in cars is a pleasurable and worthwhile option or many consumers‚ especially consumers who enjoy driving high-powered vehicles or participate in recreational activities that require the high-powered
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Disclaimer- The ASB Economics Faculty accepts no responsibility for the content of these pages. These notes were created by a past student for their personal revision purposes and as such may contain errors‚ typos‚ outdated statistics etc. Students are advised to read all material critically and for best results‚ to make their own notes based on official ECON lecture slides and notes and the BOF textbook. ECON1102 Macroeconomics Summary otes What is Macroeconomics? Macroeconomics is concerned
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value and produce to satisfy wants. Goods are physical objects. Services are actions performed. What? – What we produce changes over time. How? – Goods and services get produced by using productive resources that economists call factors of production. Factors of production are grouped into four categories: - Land: The “gifts of nature” that we use to produce goods and services are called land. In economics‚ land is what in everyday language we call natural resources. It includes land in the
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Environmental Health and Health Effects of Environmental Abstract Environmental health addresses all the physical‚ chemical‚ and biological factors external to a person‚ and all the related factors impacting behaviors. It encompasses the assessment and control of those environmental factors that can potentially affect health. It is targeted towards preventing disease and creating health-supportive environments (WHO‚ 2001). This is what the several articles and videos provided for the class help
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Compare and contrast macro political risk with micro political risk. Discuss policies to combat their impacts on international business activities. Strategic planning is essential prior to any individual or company deciding to engage in international business whether as direct/indirect investment or through trade. An evaluation of risks should be considered and strategies developed accordingly prior to any potential investment in a foreign country. One such risk which requires consideration is
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decision-making capabilities. The formulation of effective strategies often depends on whether a firm’s analysis reflects the changing environment. Many tools have been developed to examine environmental factors in the strategic analysis process. PEST model looks at the political‚ economical‚ social and technological factors to analyze the macroeconomic situation of the firm (Narayanan and Fahey‚ 2001). Porter’s five forces model analyzes a firm’s industry by looking at other existing companies‚ potential
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WHAT IS INFLATION? INFLATION IS THE LONG TERM RISE IN THE PRICES OF GOODS AND SERVICES CAUSED BY THE DEVALUATION OF CURRENCY. CAUSES OF INFLATION: • So what exactly causes inflation in an economy? There is not a single‚ agreed-upon answer‚ but there are a variety of theories‚ all of which play some role in inflation: 1. THE MONEY SUPPLY • Inflation is primarily caused by an increase in the money supply that outpaces economic growth. • Ever since industrialized nations moved away from the gold
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Environmental Sociology A Resource Page John Sydenstricker-Neto ________________________________________ • What is Environmental Sociology? • Working Groups in Professional Associations • Teaching Environmental Sociology • Some Relevant Themes • Future Perspectives • Sociology Journals • Links of Interest • Cited References ________________________________________ What is Environmental Sociology? Environmental sociology is the study of the reciprocal
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Environmental Scan Paper Environmental Scan Environmental scan in reference to businesses and strategic planning includes terms that will persuade the directions and objectives of a business. Environmental scanning also involves the significance of the future and present issues that may have an effect on the business itself‚ since a business is planning for future and not just the present condition of the company. Environmental scanning is the monitoring and evaluation of a business
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Chapter 3 Consumption and Investment Consumption (C) and investment (I) Since we are more concerned with two sector model in our course‚ we will discuss about consumption and investment. In a two sector model‚ a simple but an imaginary assumption of no government and no foreign trade is made. Here Yd =C+S or Yd =AD (aggregate demand) This also implies that C+S=C+I Consumption Introducing you with: (Think yourself in advance) What is consumption? What is consumption function
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