8/5/2013 PowerPoint® Lecture Presentation to accompany Principles of Economics‚ An Asian Edition N. Gregory Mankiw | Euston Quah | Peter Wilson © 2008 Cengage Learning 1 TEN PRINCIPLES OF ECONOMICS © 2008 Cengage Learning 1 8/5/2013 Economy. . . . . . The word economy comes from a Greek word for “one who manages a household.” © 2008 Cengage Learning TEN PRINCIPLES OF ECONOMICS A household and an economy face many decisions: Who will work? What goods and how many
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What Is Macro Environment? The major external and uncontrollable factors that influence an organization’s decision making‚ and affect its performance strategies. These factor includes the economic factors; demographics; legal; political‚ and social conditions; technological changes; and natural forces. Macro environment factors are beyond the control of an organization. This is because those factors are positioned outside the organizational system. Those forces are the prime factors in corporate
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while in the womb and at birth and continues through life heavily depending on these particular factors. These factors determine how a person communicates‚ works‚ looks‚ and chooses to live their daily lives. People are individuals and therefore‚ are all different people and will develop in different ways all depending on the influence of these three things in their lives. The first factor that influences human development is a person’s socioeconomic status. This indicates a person’s position in society
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and a good is offered for sale by producers and purchased by consumer (Blake‚ 1993). The relation between the demand and supply determines the equilibrium position of a particular good or a service. In this essay we will take a look at the factors that influence the equilibrium position of a good in the market‚ and the changes occur to the price and output levels of the good. Equilibrium "The market equilibrium occurs at the price where consumer’s willing to demand is equal to firm’s willingness
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https://docs.google.com/document/d/1mB_7Hr3jfMiTmld3gn8SXrgl7PM5iHRonYr8mFQ956I/edit AP Macro Module 1 AP Macroeconomics 1.03 1. a) If I go to the beach‚ the opportunity cost is that I will not be prepared for the exam; likewise‚ if I study for the exam‚ the opportunity cost is that I will not be having fun at the beach. b) If I get a job after high school‚ the opportunity cost is that I will miss out on a college education; likewise‚ if I go to college‚ the opportunity
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Focus on Auto Service Aftermarket biz up in slow economy WASHINGTON -- The International Franchise Association (IFA) anticipates a continued slowdown in economic recovery‚ with minimal growth in the franchising market. "As the economic recovery continues at a slow pace‚ business conditions for small businesses are not improving. The availability of credit remains an issue‚" according to the revised "Franchise Business Economic Outlook: May 2012" produced by IHS Global Insight for the IFA Educational
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Introduction Micro environment is the specific or the task environment of a business which affects its working or operations directly on a regular basis. While the changes or transformation in the macro environment will affect the business in the long run‚ the effects of changes or transformation in the microenvironment will be noticed immediately as it is near to the internal part of the business itself. Let us take a roughly look at the macro environment just to get the rough
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Macro environment Our product and all of the other actors operate in a large macro environment of forces that shape opportunities and pose threats to the company is known as macro environment. Six largely uncountable external forces influence our product’s marketing activities. And also it influences decision making‚ and affect its performance and strategies. These factors include the economic‚ demographics‚ legal‚ political‚ and social conditions‚ technological changes‚ and natural forces Elements
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Technological Factor Technological advancement in all the sectors of the country has changed the entire socio-economic environment. Especially in the textile sector there is a lot of technological development. Technology y Coupled the capability and competency vertical production facility that can convert raw cotton to final finished consumer product always attract attention of customer. The complexities of achieving business success through increased efficiency‚ effectiveness and competitiveness
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The macro environment Introduction Marketing’s role is to match the capabilities and resources within the organisation with market opportunities external to the organisation. Understanding customer needs is central to achieving this aim‚ but marketers must also be aware of factors that can cause customer needs to evolve. A change in customer needs will impact upon the organisation’s ability to serve its customers. This means that marketers have to be knowledgeable about what is happening in the
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