I do not own any rights. This is from my school book. Chapter 1 – What Is Economics? A Definition of Economics Our inability to satisfy all our wants is called scarcity. The choices that we make depend on the incentives that we face. An incentive is a reward that encourages or a penalty that discourages an action. Economics is the social science that studies the choices that individuals‚ businesses‚ governments and entire societies make as they cope with scarcity and the incentives that
Premium Economics
Complete first part of slideshow Aggregate Expenditure (AE); AE = C + I + G + X – IM I‚ G and X: autonomous expenditures Do not change with change in national income (Y) C and IM: induced expenditures Change with changes in national income (Y) Simple case: Only at C and I No government No foreign sector AE = C + I [C] Keynesian consumption function: Relationship between C and variables that influence it In simple case: C is influenced by disposable income Desired Consumption Expenditure
Premium Macroeconomics Consumption function Economics
Week 3 Homework 1. Some Classical and Monetarist economists claim that inflation is always a "monetary phenomenon." What do they mean by this claim and are they correct? They use the equation MV=PQ to show that any change in the amount of money in a system will change the price level. I believe that history shows they are correct‚ if the Fed reserve started printing a bunch of money without taking any out of circulation‚ then prices would go up for everything. 2. How can a higher price of oil create
Premium Inflation Supply and demand Unemployment
prosperous economy. The school of thought sees unemployment as an aggregated demand and company profitability. One factor affects another in a sense. If wages are low then consumers have less money to spend which then turns to less of demand for products to be created which then leads to a decrease in investments and staff by employers‚ ultimately resulting in high unemployment. This supports the idea of cyclical unemployment. Unlike the classical economy‚ Keynesian focuses on the short run instead
Premium Keynesian economics Monetary policy Macroeconomics
from financing by conventional banks‚ provide employment‚ engender rural development and reduce poverty. This paper theoretically examines the challenges these banks have had to grapple with from their inception. Furthermore‚ it scans the business environment to assess the prospects of microfinance banks in Nigeria. The paper shows that microfinance banking in Nigeria faces enormous challenges in infrastructural inadequacies‚ social misconception‚ poor legal and regulatory framework‚ unbridled competition
Premium Bank Microfinance Poverty
conservation Plating tress can stabilize soils by increasing interception Prevent floods and safeguard future of the tribal people. Bring soil together and prevent soil erosion. Afforestation act as windbreaks Stabilized the climate and the forest products. There is the constant need to develop massive afforestation programmes for the protection nad preservation of the forestry on the suitable land including the wasteland. A massive social forestry programme is needed to meet demands of the local
Premium Ecosystem Forestry Deforestation
today’s global economy‚ firms rely on the analysis of macroeconomic and industry data to develop performance improving strategies and increase their profitability. With this in mind‚ the following report consists of an analysis of the U. ... macro environment‚ the airline industry‚ and Delta Air Lines. It covers both a historic period from 1996 to 2000 and a current period from 2001 to the present. ... Even though there has been current significant improvement in GDP‚ there are new concerns regarding
Free Economics Unemployment Macroeconomics
Chapter 3 Consumption and Investment Consumption (C) and investment (I) Since we are more concerned with two sector model in our course‚ we will discuss about consumption and investment. In a two sector model‚ a simple but an imaginary assumption of no government and no foreign trade is made. Here Yd =C+S or Yd =AD (aggregate demand) This also implies that C+S=C+I Consumption Introducing you with: (Think yourself in advance) What is consumption? What is consumption function
Premium Macroeconomics Economics Consumption function
ENVIRONMENT Defining Environment Is the circumstances or conditions that surround one; surroundings. It is the totality of circumstances surrounding an organism or group of organisms‚ especially: The combination of external physical conditions that affect and influence the growth‚ development‚ and survival of organisms: Is the complex of social and cultural conditions affecting the nature of an individual or community Hence therefore we can classify components of environment as follows;
Premium Agriculture
(soon-to-get) MBA degree a form of Capital? The (soon-to-get) MBA degree is a form of capital from the perspective of knowledge and skills that is has allowed us to harness. While simultaneously being employed allows us to practice our learning in office environment from Business communication to CSR our (soon-to-get) MBA degree has covered it all. Amount of investment (fees for MBA) is the quantifiable basis that we would Capitalize and accrue dividends (benefits in our work life) in the form of accelerated
Premium Macroeconomics Economics Investment