Definition of managerial economics 7 1.2 Choice and opportunity cost 9 2.0 Basic concerns of economics 9 3.0.0 Theories of economics 12 3.1.0 The theory of demand 13 3.1.1 Tastes 14 3.1.2 Number of buyers 14 3.1.3 Income 14 3.1.5 Expectations 15 3.2 The theory of supply 16 3.3 The theory of production 16 3.4 The theory of price( in government) 17 3.5 The theory of consumer behaviour 17 3.5.1 Rational behaviour 17 3.5.2 Preferences 17 3.5.3 Budget constraint 18 3.5.4 Prices 18 4.0 Managerial Economics and Economic
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Chapter 11- Social Movements‚ Social Change‚ and Technology 1: The most basic manifest function of education is the transmission of knowledge. 2: Which of the following is NOT a latent function of education? bestowing status 3: Fifty years ago‚ a high school diploma was the minimum requirement for entry into the paid labor force of the United States. Today‚ a college diploma is virtually the bare minimum. This change reflects the process of credentialism. 4: Suppose that a school
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Lydia Robinson MT-445-02: Managerial Economics Unit 2 8.13.2013 1. Explain what would happen to equilibrium price and quantity in the market for Pepsi if the following occurred (be sure to indicate WHY it happens as well): a. The price of Coke decreases. If the price of Coke decreases and the price of Pepsi remains the same‚ Pepsi is now higher in price which will increase the quantity demand for Coke and the demand for Pepsi will fall down. If you
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Diff between economics vs managerial economics 1 The traditional Economics has both micro and macro aspects whereas Managerial Economics is essentially micro in character. 2. Economics is both positive and normative science but the Managerial Economics is essentially normative in nature. 3. Economics deals mainly with the theoretical aspect only whereas Managerial Economics deals with the practical aspect. 4. Managerial Economics studies the activities of an individual firm or unit. Its analysis
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The Basic Economic Problem: Scarcity and Choice Tuesday‚ September 13‚ 2011 by Geoff Riley It is often said that the central purpose of economic activity is the production of goods and services to satisfy our changing needs and wants. The basic economic problem is about scarcity and choice. Every society has to decide: What goods and services to produce: Does the economy uses its resources to operate more hospitals or hotels? Do we make more iPhones and iPads or double-espressos? Does the
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financing it growth with debt. Usually if a lot of debt is used to finance increased operations could lead to bankruptcy‚ however given the industry in which Pinnacle operates is capital - intensive (manufacturing) tends to have a debt/equity ratio around 2. (A6) The gross profit percent shows the portion of sales available to cover all expenses and profit after deducting the cost of the product. From the results from parts a and b‚ we can see that Pinnacle has the ability to generate cash for payment
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HS130 MIDTERM REVIEW UNITS 1-4 Chapter 11 Blood Chapter 12 The Circulatory System Chapter 12 The Lymphatic System and Immunity Chapter 14 The Respiratory System Daudi K. Langat‚ PhD January 2011 Chapter 11 Blood BLOOD COMPOSITION Blood plasma • Definition—blood minus its cells • Composition—water containing many dissolved substances (e.g.‚ foods‚ salts‚ and hormones) • Amount of blood—varies with size and sex; 4 to 6 L about average;
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True/False Questions 1. Environmental scanning and competitor intelligence provide important inputs for forecasting activities. Answer: True 2. Environmental monitoring deals with tracking changes in environmental trends that are often uncovered during the environmental scanning process. Answer: True 3. Competitor Intelligence (CI) is a tool that can provide management with “early warnings” about both threats and opportunities. Answer: True 4. Competitor Intelligence
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Economic Problems of the Philippines Economic problems of the Philippines are very similar to those being battled by other underdeveloped and developing nations. After a long tryst with colonization‚ the nation is now grappling with increased imports and a mixed economy that is still to stabilize. The Republic of the Philippines is located in Southeast Asia and Manila is its capital city. The country comprises 7‚107 islands and ranks as the 12th most populous country in the world. Like most other
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AP European History 2011 – 2012 Mr. Porter pporter@montville.net Room 307 Course Description: This course examines the political‚ social‚ economic‚ intellectual and cultural history of Europe from the late Middle Ages and Renaissance to the turn of the 21st century. AP European History is a challenging course designed to be the equivalent of a freshman college Western Civilization course and can earn students college credit. Students are expected to do a considerable amount of reading in both
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