Why the choice of the textbook ECONOMICS‚ An Introduction by Villegas and Abola? * The book is contextualized to the Philippine economic setting---learning of economic principles is immediately related to the current situation and issues facing the economy. Students will therefore be learning not abstract or foreign concepts but concrete ones they can relate with and use to explain socio-economic phenomena they experience‚ and most likely motivate them to take constructive action on these phenomena
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branch of economics that deals with which of the following topics? A) The behavior of individual consumers B) Unemployment and interest rates C) The behavior of individual firms and investors D) B and C E) A and C 2) Economics is about the allocation of scarce resources. Which of the following is NOT an example of economic scarcity? A) If Steve goes to see the movie Master and Commander on Saturday‚ he will not be able to afford buying ice cream. B) If Jenny studies for her economics quiz this
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P7.6 Optimal Input Mix. The First National Bank received 3‚000 inquiries following the latest advertisement describing its 30-month IRA accounts in the Boston World‚ a local newspaper. The most recent ad in a similar advertising campaign in Massachusetts Business‚ a regional business magazine‚ generated 1‚000 inquiries. Each newspaper ad costs $500‚ whereas each magazine ad costs $125. A. Assuming that additional ads would generate similar response rates‚ is the bank running an optimal mix of newspaper
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‘Nature of Islamic Economics’ ‘’Islamic economy identifies and promotes an economic order that conforms to Islamic scripture and traditions". Economic problems started with the birth of men and become more complicated with the development in the wants of men as the men is surrounded by wants. According to western scholars economics is the study of wants and scarcity and the reaction towards the ends and wants of the people. Adam Smith is regarded as the Father of economics due to his famous book
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Einstein College of Engineering BA 912 ECONOMIC ANALYSES FOR BUSINESS Unit I DEVELOPMENT ECONOMICS. Development economics or the economics of development is the application of economic analysis to the understanding of the economies of developing countries in Africa‚ Asia‚ and Latin America. It is the sub discipline of economics that deals with the study of the processes that create or prevent economic development or that result in the improvement of incomes‚ human welfare‚ and structural transformation
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Tutorial 1 BME1014 Trimester 1 2013/2014 Q1 Briefly discuss each of the following economic ideas: People are rational. People respond to incentive. Optimal decisions are made at the margin. Q2 Indicate whether each of the following statements applies to microeconomics or macroeconomics issue. a) Proton plans to spend RM800 million on a new automobile plant. b) The nation’s economy grew at an annual rate of 3.7 percent in the final quarter of the year. c) The trade
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Economics 101 Spring 2011 Answers to Homework #1 Due 2/2/11 Directions: The homework will be collected in a box before the lecture. Please place your name‚ TA name and section number on top of the homework (legibly). Make sure you write your name as it appears on your ID so that you can receive the correct grade. Please remember the section number for the section you are registered‚ because you will need that number when you submit exams and homework. Late homework will not be accepted so make
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Normative ethics Normative ethics is the branch of philosophical ethics that investigates the set of questions that arise when we think about the question “how ought one act morally speaking?” Normative ethics is distinct from meta-ethics because it examines standards for the rightness and wrongness of actions‚ while meta-ethics studies the meaning of moral language and the metaphysics of moral facts. Normative ethics is also distinct from descriptive ethics‚ as the latter is an empirical investigation
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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
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Difference between Economic Growth and Economic Development :- Economic Growth is an issue considered by economically developed countries which have utilized many of their resources and now plan to expand even further by growth. It is a narrower concept than Economic Development as it focuses on the further increase of the national output of a country by increasing the quality of resources‚ the quantity produced and increasing utilization by every sector of the economy. We can also say it is defined
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