after a marathon race * Eraser in a multiple choice exam Sunk Cost is a cost that cannot be recovered at the moment a decision is made. * Costs already incurred or ‘sunk’ are not relevant to your decisions * The only costs that should influence a decision about whether or not to take an action are those that we can avoid by not taking that action Economic Decision Any decision where securing something of value means going without some other thing of value Economic Naturalist Someone
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Already‚ the sun’s contribution to human energy needs is substantial — worldwide‚ solar electricity generation is a growing‚ multibillion dollar industry. But solar’s share of the total energy market remains rather small‚ well below 1 percent of total energy consumption‚ compared with roughly 85 percent from oil‚ natural gas‚ and coal. Those fossil fuels cannot remain the dominant sources of energy forever. Whatever the precise timetable for their depletion‚ oil and gas supplies will not keep up
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Mathematically it is written as: C = C + c(Y – T) C: Consumption Spending C: Exogenous Consumption c : Marginal Propensity to Consume (0 < c < 1) Y: Aggregate Income T: Taxes Explaining the main components: Exogenous consumption: factors other than disposable income that affect consumption. So when consumers feel optimistic about their future‚ they will generally spend more and save less at any given level of disposable income. Reversely if consumers feel pessimistic about their future
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and give an example of each! = Externality‚ is the impact of one person’s action on the well being of a bystander Example: pollution. = Market power‚ is the ability of a single economic actor (or small group of acors) to have a substantial influence on market prices. Example : if everyone in town needs water but there is only one well‚ the owner of the well is not subject to the rigorous competition with which the invisible hand normally keeps self interest in check. 2. Principles of
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Factors and Motivations That Influence Biological Warfare Maham Ahmed November 11th‚ 2010 Modern World History Katie Ehrlich Many troops during the years of World War I met their demise in what is arguable the most terrifying and inhumane of all military tactics - biological warfare. Soldiers inhaled a deadly acidic gas that burned them from the inside out‚ suffocating them in an excruciating and unimaginable pain. Kurth Audrey‚ a professor of strategy at the U.S. National War College in
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motor rallying‚ boat racing‚ auto racing‚ air racing‚ kart racing‚ hovercraft racing‚ truck racing as well as snowmobile racing. On the other hand‚ non-racing motorsport does not involve racing and include the following: motorcycle trials‚ freestyle motocross and tractor pulling”‚ Featherstone‚ 2004. This paper concentrates more on the auto racing motorsport. Auto racing involves competing of cars in a competition event. Each individual in the race aims at setting the
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The two-wheeler market in India is the biggest contributor to the automobile industry with a size of Rs.100‚000 million. The two-wheeler market in India comprises of 3 types of vehicles‚ namely motorcycles‚ scooters‚ and mopeds. Foreign collaborations have been playing a major role in the growth of the Indian two-wheeler market‚ and most of them are Japanese firms. The modern two-wheeler firms in India have been manufacturing new categories of two wheelers such as Step Thrus and Scooterettes.
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1. Macro environment External environment is the uncontrollable factors‚ forces‚ situations‚ and events outside the organization that affect its performance and strategies. As shown in below figure‚ the examples of macro environment of an organisation is include factors such as social cultural‚ political and legal‚ globalisation‚ economy‚ demographical and also technology. Detailed definition of macro environment factors mentioned and the description showed as below. Figure 1: Component of
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Consultancy Report Part 1 Ryanair’s macro and competitive environments Report compiled by: Student: Egle Sukyte Student number: 7124180 Course: Business Management with HRM Unit title: Marketing (MKT 432)‚ Level 2. Table of Contents 1. Introduction.............................................................................1 2. Macro Environment – PESTLE Analysis...............................................1 3.1 Political forces..........................
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The Economical Benefits Of Legalizing Marijuana Marijuana has created a hidden market in the United States which accounts for as much as 10% of the American economy‚ according to a study. Laws punish marijuana cultivation more strictly than murder in some states‚ but Americans spend more on illegal drugs than on cigarettes. The American economy has been suffering a downturn‚ while in the shadow economy of the underground world there are high levels of success‚ mimicking
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