Economics Answers Define the following terms: 1) Public goods are goods that when produced can be freely consumed by anyone‚ for example the justice system. They are made up of the following goods‚ non-exclusive and non-rival. Non-exclusive goods are goods that people cannot be excluded from consuming‚ it is difficult or impossible to charge for its use which implies no private market as benefits cannot be denied to those who refuse to pay‚ for example public TV. Non-rival goods or
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Totalitarianism is a political system in which there is only one party and that party controls everything. Hitler established such a state in Germany from 1933 with himself and other leading Nazi figures at the helm. As the state sought to regulate every aspect of German life‚ German society in the Nazi state had certain hallmarks. At the core of the Nazi State was the concept of German superiority. The Herrenvolk was the idea which claimed that the Germans were members of a superior race and were
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CHARACTERISTICS OF DEVELOPING COUNTRIES Low standard of living • Low Standards of living tend to be experienced by the majority of the population. • The main indicators of these low living standards are high poverty levels (i.e very low incomes)‚ high levels of inequality‚ very poor housing‚ low standards of health‚ high infant mortality rates‚ high levels of malnutrition and a lack of education. Low levels of productivity • The main causes are low education standards within the countries
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rationale for allowing two integrated resorts to be built in Singapore. Why was there this change in policy? Question 2: Explain the economic impacts of the integrated resorts. Expected Economic Benefits from Integrated Resorts When the idea of building Integrated Resorts in Singapore was first introduced to the citizens‚ the government measured the expected economic benefits and social problems the Integrated Resorts would bring about. After much consideration‚ the government proceeded to build
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‘The characteristics of the vegetation of tropical biomes are more the outcome of continued human activity than a response to the climatic conditions’. With reference to one tropical biome‚ discuss the extent to which you agree with this view. (40 marks) A tropical biome is a large community of plants and animals that occupy a distinct region. Tropical biomes are mostly located within the tropics‚ between the Tropic of Cancer and the Tropic of Capricorn and currently cover less than 5% of the Earth’s
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Characteristics of an Effective Counselor Characteristics of an Effective Counselor Shanice Johnson Liberty University Abstract When it comes to effective counseling‚ both the counselor and client has to cooperate with one another‚ as an effective counselor you should be approachable‚ and open so the person getting the counseling will feel comfortable to discuss their problems or issues. An effective counselor should also be genuine‚ empathetic‚ and non-judgmental. If you are interested
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Timings :1 hour TEST Max.Marks 58 Choose the most appropriate answer from the given options in respect of the following : 1)”Economics is the study of mankind in the ordinary business of life” was given by : a) Adam Smith b)Lord Robbins c)Alfred Marshall d)Samuelson 2)A capitalist economy uses as the principal means of allocating resources a)Demand b)Supply c)Efficiency d)Price 3)The commodity whose demand is associated
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BUSN 5260 Current Economic Analysis Week 3: Personal Assignment Some students have difficulty understanding the laws of supply and demand and the difference between changes in demand (supply)‚ which are caused by changes in the respective determinates of demand or supply‚ and changes in quantity demanded (supplied) which result from changes in the price of the good or the service. Before you complete this assignment‚ I suggest that you again review Chapter 3 and my lecture material provided
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$117.99 per barrel. (Source US Energy Information Administration) Economics is the study of using resources in a productive manner and to allocate them in the best possible way. Economics is concerned with the production and consumption of goods and the transfer of money to create and get those goods. Economics tells us how people in the markets communicate in order to achieve what they desire and fulfill their goals. Economics deals with studying the wants and desires of people resulting in creating
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English Dictionary ‚ 1989) .There is no universally accepted definition of failed states. An attempt to look at the definition would mean to look at the characteristics of a failed state. According to Goldstein and Pevehouse ‚ “Failed states have very
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