Scarcity -Basic Economic problem - unlimited wants‚ but limited resources The question is: How do we allocate these limited resources? 3 questions that any economic system must answer: - What should be produced - How should we produce it? - Who gets it? Command Economy - You have heavy state involvement - State of ownership of resources and control of production - What should be produced - the state decides - How to produce it - the state decides - Who gets it - the state decides Market
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Chapter 12 Managing Knowledge in the Digital Firm 12-1 Chapter 12 Managing Knowledge in the Digital Firm Multiple Choice Questions 1. Expertise and experience of organizational members that has not been formally documented best describes: a. b. c. d. wisdom. information. data. tacit knowledge. 2. Knowledge that resides in the minds of employees that has not been documented is called: a. b. c. d. tacit knowledge. organizational memory. standard operating procedures. corporate culture
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Managerial Economics HW #4 (Chapter 5) 1.A firm can manufacture a product according to the production function Q F(K‚ L) K3/4L1/4 a. Calculate the average product of labor‚ APL‚ when the level of capital is fixed at 16 units and the firm uses 16 units of labor. How does the average product of labor change when the firm uses 81 units of labor? Saat (Capital) K = 16 (Labour) L = 16 Q = (16)0‚75(16)0‚25 Q = (8)(2) = 16 APL =Q/L =16/16=1. Saat K= 16 Q= 81 Q = (16)0‚75(81)0‚25 Q = (8)(3)
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Chapter 8 Quiz 1. If two small perfectly competitive firm merge‚ the merged firm will be a price taker. 2. Which of the following factors affect vertical integration of firms? The transaction cost at each stage of production. 3. Under a horizontal merger the assets of two firms that operate in the same market are put under a single ownership. 4. Which one of these is an example of a onetime investment made by a seller to reduce the transaction cost on all units. 5.
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Problem 10.7 Which controls would best mitigate the following threats? a) The hours- worked field in a payroll transaction record contained the value 400 instead of 40. As a result‚ the employee received a paycheck for $6‚257.24 instead of $654.32. Answer: Data entry controls should be implemented of this threat. It can conduct a field check by separating the salaried and hours and minutes of fields. Limit check to ensure that each of the employees should not excess the limit of work
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IROATU‚ GODSON C.S. ENVIRONMENTAL REPORTING ASSIGNMENT QUESTION: List 10 different environmental problems we have vis-à-vis the Causes‚ Impact and Solution LIST OF ENVIRONMENTAL PROBLEMS 1 CLIMATE CHANGE Climate change is a significant and lasting change in the statistical distribution of weather patterns over periods ranging from decades to millions of years. It may be a change in average weather conditions‚ or in the distribution of weather around the average conditions (i.e.‚ more
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1. How do your nervous and endocrine systems work together as a physical response to stress? The two systems prepare your body by sending chemical messages and actions of sympathetic nerves that cause the release of key hormones. What is the difference between stress and a stressor? A stressor is the situation that triggers physical and emotional reactions. Stress is the general physical and emotional state that accompanies the stress response. How does the fight or flight reaction (in today’s
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CHAPTER 8 Political Participation Objectives This chapter reviews the much-discussed low voter turnout and the poor percentage of other forms of political participation in the United States. After reading and reviewing the material in this chapter‚ the student should be able to do each of the following: 1. Explain why the text believes that the description‚ the analysis‚ and many of the proposed remedies for low voter-turnout rates in the United States are generally off base. 2. Compare the ways
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10. Understand procedures regarding handling medication 10.1 Describe the main points of agreed procedures bout handling medication 10.2 Identify who is responsible for medication in a social care setting. 10.3 Explain why medication must only be handles following specialist training 10.1 Describe the main points of agreed procedures about handling medication In the adult social care setting it is vital that when handling medications are involved‚ service providers must follow
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and magnesium. This makes up about 90% of the earth’s elements. Jupiter and Saturn on the other hand consist mostly of volatile gases like water‚ methane and ammonia. These two planets retained their volatiles due to their greater gravitational force. 2. Scientist believe that the collision of earth with a smaller body caused the earth to tilt on it axis at 23 degrees. The blasting debris is said to have formed the moon. The period from the accretion of the earth to the formation of the oldest existing
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