CERTIFICATE The Business Environment SPECIMEN QUESTION PAPER Answer any FOUR questions Q1 (a) Explore the main characteristics of a ‘fully-planned economy’. (10 marks) (b) Discuss why in practice it is more likely that a country will have a ‘mixed economy’. (15 marks) (Total 25 marks) Q2 (a) Discuss the reasons why an interventionist approach has been favoured by the European Union in its relations with industry. (15 marks) (b) Review the potential dangers of having large and economically-powerful
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The Economic Problem Essay/Romania Romania is a small country in southeast Europe. After the Russo-Tunkin War of 1828-1829‚ they become Russian protectorates. Then nation became a kingdom in 1881 after the congress of Berlin. Romania started to be the command economy from then. The command economy is one where basic economic decisions are made by government on behalf of the people. Resources are owned in command by the people and allocated by the government. Therefore the central government answers
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(VISITING) PRESENTATION QUESTION: Types of economies Societies have developed different broad economic approaches to manage their resources. Economists generally recognize four basic types of economic systems—traditional‚ command‚ market‚ and mixed. “Economics is the study of the use of scarce resources to satisfy unlimited human wants” (Lipsey‚ Courant‚ Purvis and Seiner 1993:5) In the traditional System the economy is based on tradition‚ customs and habits where the young men and women simply
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and how to distribute what has been produced determine the type of economic system that particular country practises. 1. MARKET ECONOMY (also called FREE ENTERPRISE ECONOMIES or CAPITALIST ECONOMY) 2. CENTRALLY – PLANNED or CONTROLLED ECONOMY 3. MIXED ECONOMY 1. MARKET ECONOMY in comparison to 2. PLANNED ECONOMY e.g. USA‚ Japan Private firms or individuals own means of production. They make choices about: o What to produce o How to produce o For whom to produce - What to produce
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India VS. China From my perspective‚ the main factor contributes to the difference in FDI and economic growth in China and India are institutions. There are two kinds of institutions; one is formal institution‚ including political system‚ legal system and economic system‚ another one is informal institution‚ which consists of culture‚ business norms and ethics. As for political system in India‚ which labeled as "sovereign‚ socialist‚ secular‚ democratic republic." It is similar to America‚ it
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economic system called the "planned economy"‚ where there is a central government controlling the factors of production‚ what to produce‚ and goods using a fixed price system. The main characteristics of a market economy includes the pure market and the mixed market economy‚ private ownership of the means of production‚ the profit motive‚ self interest‚ competition between firms‚ signaling and rationing function of prices‚ and the private and public sectors. In the real world‚ the ideology of a pure market
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1. Opportunity cost 2. Specialization 3. Objectives 4. Value added 5. Profit 6. Business stakeholders 7. Primary business 8. Secondary business 9. Tertiary business 10. Private business/sector 11. Public business/sector 12. Merit good 13. Public good 14. Privatization 15. Capital intensive business 16. Labour intensive business 17. Conglomeration 18. Integration 19. Merger 20. Takeover 21. Wholesaler 22. Retailer
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Mixed Methods Research (MMR) combines qualitative and quantitative approaches to investigate complex health problems and multidimensional treatment modalities such as DMT. The aim of this presentation is to provide an introduction to the basic concepts of MMR and help participants understand why DMT researchers and therapists should consider using MMR to examine creative processes‚ individual experiences‚ and the overall efficacy of DMT. This will include presentation of practical concerns and challenges
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Socio-Economic Stabilization and Development up to the year 2000” that changed Vietnam’s economy‚ which was on its way to becoming a free market‚ to a Socialist-oriented market economy. * Government is still the main factor of the economy. * It is a mixed economy‚ which
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pay for it. In a market system an individual can choose what business they want to do business with or even if they want to operate a business themselves. The last economic system is the mixed market system. The mixed market system can be associated with both the planned and the market economies. A mixed market shows traits from both systems. For example cigarettes can be sold legally but government restricts minors from purchasing the item. (Ebert/griffin‚ pg 12). There are three major disadvantages
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