Profit Maximiser MR = MC An industry can be defined from two criteria: - similarity of products - similarity of economic activities A Sport industry can be defined as a cluster of firms that: - produce sport activities - provide products and services - trade and sell products Meeks ‘3-Sector’ Model of the sport industry: Sector #1: Sports Entertainment Sector #2: Sports Products Sector #3: Sports Support Organisations Li‚ Hofacre and Mahoneys ‘2-Sector’ Model of the sport industry:
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As the economy of the Australia was at peak for providing employments but slowly and gradually it started to decrease‚ and the rate of unemployment increases it is due to different reasons. Unemployment is a scourge in countries at all levels of economic development‚ It Brings poverty and despair and exclusion from the mainstream way of life. It stunts the development of children and generates conflict in the home. All market economies have some unemployment arising from the dynamic birth‚ growth
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Oligopoly is when a particular market is controlled by a small group of firms. For example supermarkets‚ there are three (there usually exist three companies) companies which dominate the market‚ Wong and Metro‚ Santa Isabel and Plaza Vea‚ and Tottus. The main assumptions that economists make when talking about a situation of Oligopoly are various; three or four large companies dominate the industry‚ but small companies do exist (smaller companies in the recent example would be for example "Arakaki"‚ a sole
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Economic disparity‚ also known as income inequality‚ comprises all the inequalities in distribution of assets and income. Some economists affirm that the gap between rich and poor is the result of a well-functioning economy. In addition‚ studies have considered inequality something necessary and beneficial (Garret). Nevertheless‚ equality has shown to promote consumer spending and prosperity (Inequality: Recent Trends in China). However‚ governments cannot seem to decide on the morality and utility
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NAME: Onuoha Nkemjika CLASS: SS1a SCHOOL: Professor Enoch Anyanwu Christ’s Education (PEACE) College SUBJECT: Economics take home assignment. Questions: 1. Write the attributes and characteristics of partnership. 2. Discuss five types of co-operative society. 3. Discuss four factors that determine the form of a business unit. Answers: 1a. Transfer of ownership: In partnership‚ the transfer of ownership whether to a new or existing partner‚ requires approval of the remaining partners. 1b. Ease of
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associated with high price causes decline in the value for money. It exists when the amount of money in the country is in excess of the physical volume of goods and services. Explain the reasons for this monetary phenomenon. Ans: Inflation: In economics‚ inflation is a sustained increase in the general price level of goods and services in an economy over a period of time. It can be defined as too much money chasing too few goods. When the general price level rises‚ each unit of currency buys fewer
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Questions/Main Ideas: Notes: QOD: What is one thing about your historical background that would help people to understand you better? In what ways does the lack of this knowledge change your relationships? In what ways could the gaining of this knowledge help your relationships? (23 paragraphs) QOW: How does the author of To Kill a Mockingbird build historical context to help the reader develop a better understanding of setting‚ plot‚ themes‚ and characters?
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Islamic Economics Economics studies are devoted with the economical behavior of individuals and societies‚ for instance production‚ consumption‚ saving‚ good exchange and so on. Every nation is supposed to regulate the production of goods and services as demanded by the people‚ consumers‚ thus any economic system needs to answer four main questions: 1- What to produce of goods and services? 2- How to produce these goods and services? 3- Who to produce to these goods and services
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This assignment will assess the factors behind the economic success of Japan. These factors will be assessed through units of time throughout the Japanese history and how these factors of success have also contributed to the economic difficulties that Japan has faced over time. We will start with a brief introduction to Japan as a nation‚ its cultural practices to language and arts. We will then progress onto discuss the economic success and difficulties that Japan has faced over time Japan is
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Leisure Traveler Satisfaction with Hotel Attributes Introduction Since the mature market represents approximately 80 percent of the leisure travel market‚ their influence in the market is significant (Snhotemaker‚1989). According to Tourism Hightlights 2014 Edition published by The United Nations World Tourism Organization (UNWTO)‚ in 2013‚ over half of all international tourist arrivals travel for holidays‚ recreation and other forms of leisure purposes. Only Some of (14%) international tourists
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