1. PRINCIPES OF ECONOMICS-MANKIEW CHAPTER 1- QUESTION FOR REVIEW (18) No 3. What is inflation and what causes it? = Inflation is an increase in the overall level of prices in the economy. Inflation happen because culprit is growth in the quantity o money when a government creates larges quantities of the nation’s money‚ the value of the money. No 5. Explain the two main causes of market failure and give an example of each! = Externality‚ is the impact of one person’s action on the well being
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Experiment 6: Microbial Cultivation Objectives: To successfully cultivate microorganisms from different sources to medium. Materials: Broth‚ Agar‚ Sterilized cotton swab‚ Procedure: 1) Get your broth with cotton swab inside containing your bacteria. 2) Remove the cotton and flame sterilize the mouth of the testtube. 3) Get your cotton swab inside‚ flame sterilize again the mouth of the testtube then plug it with cotton. 4) Grab the inverted plated media and flame sterilize the
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Econ 2200 Midterm #1 fall 2011 Section I Answer Four of the following six questions. Each question is worth 5 points. a. What is the difference between the Income Effect and a Change in Income? b. True or False: The slope of the budget line represents the rate at which the consumer is willing to trade one good for another at any given bundle. Explain. c. An Engel curve can be both positively and negatively sloped‚ why does this happen? d. What do we mean by the term “Consumer Surplus”? e
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Opportunity cost of an activity (or goods) is equal to the best next alternative foregone. Although opportunity cost can be hard to quantify‚ the effect of opportunity cost is universal and very real on the individual level. In fact‚ this principle applies to all decisions‚ not just economic ones. Since the work of the Austrian economist Friedrich von Wieser‚ opportunity cost has been seen as the foundation of the marginal theory of value[citation needed]. Opportunity cost is one way to measure
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QUESTION 1 a. A downward-sloping demand curve shows in both graphs when the quantity at each price is doubled what it was. However‚ the curve in demand for pharmaceutical drugs is drawn with a relatively steep slope as inelastic products. Equilibrium price down-sloping along the demand curve while quantity in both market increased to some extent. b. In inelastic demand of pharmaceutical drugs‚ the percentage change in price is greater than the percentage change in quantity demanded. While in elastic
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The possibility that microorganisms exist was discussed for many centuries before their actual discovery in the 17th century. The existence of unseen microbiological life was postulated by Jainism‚ which is based on Mahavira’s teachings as early as 6th century BCE.[19] Paul Dundas notes that Mahavira asserted existence of unseen microbiological creatures living in earth‚ water‚ air and fire.[20] Jain scriptures also describe nigodas‚ which are sub-microscopic creatures living in large clusters and
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Subject: Business Economics Subject Code: BUECO5903 Course Coordinator / Moderator: Paul McPhee / David Spiers Assignment A: Microeconomics Student Name: Noor Aini Faiz Student Number: 30120381 Lecturer: Dr. Ganeshamoorthy Question 1: (a) Explain and illustrate using suitable diagrams‚ the impact of external costs and
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A PROJECT REPORT ON MARKET ANALYSIS OF LG CONSUMER DURABLES & DEALER DEVELOPMENT For LG Electronic Pune Limited Submitted By Pankaj kumar srivastava 1 Acknowledgement It is indeed of great moment to pleasure to express my senses of per found gratitude & indebtness to all the people who have been instrumental in making my tanning a rich experience. I got the opportunity to do a challenging project in LG ELECTRONIC PUNE (INDIA) The project is the important part of our study and gives
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Stephen Krashen’s Theory of Second Language Acquisition Assimilação Natural -- o Construtivismo Comunicativo no Ensino de Línguas Ricardo Schütz Last revision: July 2‚ 2007 "Language acquisition does not require extensive use of conscious grammatical rules‚ and does not require tedious drill." Stephen Krashen "Acquisition requires meaningful interaction in the target language - natural communication - in which speakers are concerned not with the form of their utterances but with the messages
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Macro Economic System and its Management. 1. Macro Economic Concerns: • Micro vs Macro Economics. • Major Building Blocks of Macro Economics: 1) AD & AS 2) Four Sectors: HHS‚ BS‚ GS & FTS 3) Two Markets: Commodity Market and Money Market. • Specific issues to be addressed in Macro Economics: o Rising Prices o Rising Unemployment o Falling GDP o Balance of Payments Crisis. • Tools of Macro Economic Policy and Management:
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