QUESTION 1 What are the THREE (3) basic economic questions that all economies must answer? Describe the differences in the way capitalism and socialism answer these questions. Scarcity‚ Choices‚ Opportunity Costs We live in a finite world. No matter how seemingly bountiful the quantity of our natural resources may be or how carefully human try to conserve them‚ if we keep using them‚ they eventually are going to run out. Our tastes for goods and services are virtually limitless and this creates
Premium Deng Xiaoping People's Republic of China Mao Zedong
& Scope of Managerial Economics Contents Fundamental Economics Concepts: Opportunity Cost‚ Discounting principle‚ Time perspective‚ Incremental reasoning‚ Equi-marginal concept. Marginal concept in economics. Economics of information: Risk‚ Uncertainty‚ Asymmetry of information‚ Adverse Selection‚ Market Signaling. The theory of firm; Econometric Models & Economic optimization. ____________________________________________________________________________________ Economics Basics: Introduction
Premium Economics
Quiz 381: General Socio Economic Awareness for Banking Examinations 1.In context with the Banking Industry‚ which among the following was not a promise made by India’s Finance Minister Pranab Mukherjee in the Union Budget 2010-11? (A)To provide a sum of Rs.16‚500 crore to ensure that the Public Sector Banks are able to attain a minimum 8 per cent Tier-I capital by March 31‚ 2011 (B)To provide further capital to strengthen the RRBs (C)To give additional banking licenses to private sector players
Premium Inflation
WSGPR 7/7/03 4:33 PM Page i Managerial Economics: Theory and Practice WSGPR 7/7/03 4:33 PM Page ii WSGPR 7/7/03 4:33 PM Page iii Managerial Economics: Theory and Practice Edited by Thomas J. Webster Department of Finance & Economics Lubin School of Business Pace University Study Guide Amsterdam Boston Heidelberg London New York Oxford San Diego San Francisco Singapore Sydney Tokyo Paris WSGPR 7/7/03 4:33 PM Page iv WSGPR 7/7/03 4:33 PM Page v Table of Contents
Premium Multiple choice Monopoly Economics
PowerPoint Slides Prepared by Robert F. Brooker‚ Ph.D. Copyright 2007 by Oxford University Press‚ Inc. Slide 1 Qualitative Forecasts • Survey Techniques – Planned Plant and Equipment Spending – Expected Sales and Inventory Changes – Consumers’ Expenditure Plans • Opinion Polls – Business Executives – Sales Force – Consumer Intentions PowerPoint Slides Prepared by Robert F. Brooker‚ Ph.D. Copyright 2007 by Oxford University Press‚ Inc. Slide 2 PowerPoint Slides Prepared
Premium Forecasting Time series analysis University of Oxford
109) How do you handle the situation when your team meets obstacles at work? 110) Tell me about a time you had to deal with someone who was overstepping his/her bounds. 111) Tell me about a time when you butted heads with a co-worker/client/employee 112) Tell me about a time when you were part of a team that had poor dynamics/didn’t get along well (say what you did‚ of course) 113) Tell me about a leadership experience where you had to depend upon another person/other people for success 114)
Premium Harshad number What Would You Do?
An MBA Graduate Defined An MBA is a degree awarded to individuals who complete required coursework in the field of Management Science. The MBA title stands for Master of Business Administration and implies that the person holding the degree is qualified to hold a position in senior management within a firm. An MBA manager is similar to the captain of a ship. He is responsible for making decisions and plans about the firm and for controlling the firm’s employees. The goal of an MBA manager is
Premium Revenue Management
Business Economics MBA LIMITS‚ CHOICES AND SCARCITY ANSWERS TO END-OF-CHAPTER QUESTIONS 2-1 Explain this statement: “If resources were unlimited and freely available‚ there would be no subject called economics.” If resources were unlimited and freely available‚ making choices would not be necessary. Every person could have as much as they wanted of any good or service. Economics‚ the science of choice‚ would be unnecessary. 2-2 Comment on the following statement from a newspaper
Premium Supply and demand
1. If the consumer’s budget constraint is given by 10F + 5S = 100 where F is food and S is shelter‚ how much food can he buy if he purchases 2 units of shelter? Plug in number Student Response Value A. 10 B. 5 C. 20 D. 9 100% Score: 1/1 2. If the consumer’s budget constraint is given by 10F + 5S = 100 where F is food and S is shelter‚ what is the opportunity cost of food in terms of shelter? F/S Student Response Value A. 5 B. 2 C. 15 D. 10 0% Score:
Premium Marketing Mathematics English-language films
MEANING SCOPE AND METHODS OF MANAGERIAL ECONOMICS INTRODUCTION Emergence of managerial economics as a separate course of management studies can be attributed to at least three factors.: (a) growing complexity of business decision making process due to changing market conditions and business environment (b) consequent upon‚ the increasing use of economic logic ‚ concepts theories and tools o economic analysis in the process of business decision making (c) Rapid increase in demand for professionally
Premium Economics Microeconomics Supply and demand