“Economics has never been a science - and it is even less now than a few years ago.”…Paul Samuelson INTRODUCTION Economics is the social science that analyzes the production‚ distribution‚ and consumption of goods and services. A focus of the subject is how economic agents behave or interact and how economies work. A given economy is the result of a process that involves its technological evolution‚ history and social organization‚ as well as its geography‚ natural resource endowment‚ and ecology
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for illustration. The concept of market equilibrium is introduced and the e¢ ciency conditions are explained. The government interventions‚ through the implementation of price ceilings‚ ‡ oors‚ taxes‚ quotas‚ and subsidies‚ and the e¤ects of these policies on the market equilibrium are discussed. The notion of elasticity is explored and …nally‚ externalities and the other causes of market failure are explained by means of examples. 1 E-mail address: hany.fahmy@hf-consultingco.com 1
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Definition The economic environment consists of external factors in a business’ market and the broader economy that can influence a business. You can divide the economic environment into the microeconomic environment‚ which affects business decision-making such as individual actions of firms and consumers‚ and the macroeconomic environment‚ which affects an entire economy and all of its participants. Many economic factors act as external constraints on your business‚ which means that you have little
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Reina Louise R. Felonia PhilGov BSIT 2.1C Sir Jian Dayuta Mother of Philippine Democracy María Corazón Sumulong "Cory" Cojuangco Aquino was born on January 25‚ 1933‚ in Paniqui‚ Tarlac‚ María Corazón "Cory" Sumulong Cojuangco was the fourth child of José Cojuangco‚ Sr. and Demetria Sumulong. Her siblings were Pedro‚ Josephine‚ Teresita‚ Jose‚ Jr. and Maria Paz. Both Aquino’s parents came from prominent clans. Her father was a prominent Tarlac businessman and politician‚ and her great-grandfather
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Economic Commentary About: Demand‚ Supply and Price Control Source of the article: Internet (business-standard.com) Name: Sang Hyun Jeon Section and Grade: 11 C Mentha oil rises on industrial demand Press Trust of India / New Delhi November 04‚ 2011‚ 12:04 IST Mentha oil prices rose by Rs 9.40 to Rs 1‚354.90 per kg in futures trade today‚ as traders enlarged their holdings tracking a rise in the industrial demand in spot markets. Restricted supply from the growing belts of Chandausi‚
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Cory Aquino Restored democracy‚ supported the Filipino entrepreneurs The recent death of the former president Corazon C. Aquino has made us reminiscent of her major contribution in bringing back the democracy in our country. It was the democracy that we almost lost during the martial law era under the leadership of former Ferdinand Marcos. Her role in bringing back the democracy has carried along some other things. One of this is the flourishing of capitalism back in our economic system.
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Benigno “Ninoy” S. Aquino Jr. (Nov. 27‚ 1932-Aug. 21‚ 1983) I. Background Benigno Aquino of the Philippines was a leading opponent of the rule of President Ferdinand Marcos (1917–1989)‚ who governed the Philippines from 1966 to 1986. Aquino’s opposition ended in August 1983 when‚ after living in the United States for three years‚ he returned to the Philippine capital of Manila and was assassinated (killed) at the airport. Aquino’s death touched off massive demonstrations against President
Free Philippines Ferdinand Marcos
1. Plot the demand function Qd = 60 – 4P. 2. Plot the demand function Qs = 100 + 2P. 3. The annual demand and supply for coffee are given by Qd = 10‚000 – 50P Qs = 20P Where price is in dollars per 50-kilogram bag and quantity is in thousands of 50-kilogram bags. Calculate the equilibrium price and quantity in this market. 4. Assume a competitive market where demand is given by Qd = 980 – 90P while supply is given by Qs = 200 + 40P. It can be determined that the equilibrium price in this
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Corazon Aquino The lady in the simple yellow dress‚ stood at the podium‚ addressing hundreds of thousands of Filipinos. They were gathered on a highway between two military camps in Manila in a festive‚ carnival-like uprising. This stirring display of "people power" on 21st September 1986 had ousted dictator Ferdinand Macros and brought Corazon Aquino to the presidency. She had been pushed into the whirlwind of politics after her husband‚ Benigno Ninoy Aquino‚ had been ruthlessly shot dead in
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------------------------------------------------- Economic policy Economic policy refers to the actions that governments take in the economic field. It covers the systems for setting interest rates and government budget as well as the labor market‚ national ownership‚ and many other areas of government interventions into the economy. Such policies are often influenced by international institutions like the International Monetary Fund or World Bank as well as political beliefs and the consequent policies of parties. -------------------------------------------------
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