Economics Chapter One: Ten Principles of Economics Scarcity – the limited nature of society’s resources Economics – the study of how society manages its scarce resources Principle #1: People Face Tradeoffs Making decisions requires trading off one goal against another A dollar/unit of time spent on one thing is one less dollar/unit of time less spent on another Common trade offs include: “butter for guns”‚ a clean environment or a high level of income & Efficiency – the property of society
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ONE THE NATURE AND METHOD OF ECONOMICS CHAPTER OVERVIEW This chapter begins with a discussion of the meaning and importance of economics. In this first chapter‚ however‚ we will not plunge into problems and issues; instead we consider some important preliminaries. We first look at the economic perspective—how economists think about problems. Next‚ we state some of the benefits of studying economics. Then‚ we examine the specific methods economists use to examine economic behavior and the economy‚ distinguishing
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Construction Economics: Government Economic Policy A policy refers to any rule or principle used in guiding decision making and achieving rational results. The intended goals to be achieved by a policy widely vary with the organization and the context to which it was made. Policies are basically made to prevent negative effects noticed in an organization or promote positive benefits. Government economic policy refers to the actions that a government takes to influence its economy. The economic policy
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Port Economics Port Economics is the study of the economic decisions (and their consequences) of the users and providers of port services. A port is an “engine” for economic development by providing employment‚ worker incomes‚ business earnings‚ and taxes for its region. The book provides a detailed discussion of types of carriers that use ports‚ the operation of cargo and passenger ports‚ as well as the operation of such specific ports as Hong Kong‚ Hamburg‚ Le Havre‚ Savannah‚ Miami‚ and Panama
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International economic law Section A: Evolution and principles of international economic law Revised version – December 2006 S.P. Subedi This study guide was prepared for the University of London by: Professor S.P. Subedi‚ OBE‚ MA‚ LLM‚ DPhil (Oxon.) Professor of International Law‚ University of Leeds This is one of a series of study guides published by the University. We regret that owing to pressure of work the author is unable to enter into any correspondence relating to‚ or arising
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Economic Interdependence and War: A Theory of Trade Expectations Author(s): Dale C. Copeland Source: International Security‚ Vol. 20‚ No. 4 (Spring‚ 1996)‚ pp. 5-41 Published by: The MIT Press Stable URL: http://www.jstor.org/stable/2539041 Accessed: 12/10/2010 13:07 Your use of the JSTOR archive indicates your acceptance of JSTOR’s Terms and Conditions of Use‚ available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR’s Terms and Conditions of Use provides‚ in part‚ that
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Cambridge University Press 978-0-521-12665-6 - Cambridge International AS and A Level Economics‚ Second Edition Colin Bamford and Susan Grant Excerpt More information 1 1 Basic economic ideas Basic economic ideas Core On completion of this core section you should know: • what is meant by scarcity and the inevitability of choices that have to be made by individuals‚ firms and governments • what is meant by opportunity cost • why the basic questions of what‚ how and for whom
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Remember: Production factors Labour (and Land) • That’s us – everyone who produces • Until c. 11‚000 BC – that is for 99% of human history – humans were nomadic hunter-gatherers‚ that means collected or killed the resources of a large plot of land (c. 8-200 km² per head‚ depending on climate) • In the neolithic revolution man started to become a food producer (agriculture and livestock breeding); until at least the 17th Century (in most cases much longer) the vast majority of humans worked
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the USA or any other racial background. Indian markets has helped many Indians who are helpless in finding jobs due non fluently speaking english‚ age difference‚ gender or education level. 1). In article Native Americans Left Behind in the Economic Recovery by Katherine Peralta argues and proves “According to the EPI report‚ American Indians and white Americans attain high school diplomas at roughly the same rate. But almost twice as many native people have less than a high school education
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MANAGEMENT‚ ECONOMICS AND DECISION-MAKING MANAGEMENT * Making decisions * Choosing between alternatives * Making choices based on economic analysis and evaluation MANAGER * Anyone who participates in and affects the decision-making process‚ regardless of how informal and unstructured that process might be * Someone who is engaged in a decision involving choice and utilizes some form of economic evaluation REASON FOR STUDYING MANAGEMENT AND ECONOMIC ANALYSIS * Because
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