> MR. Correct Answer: P > MR. Question 6 10 out of 10 points Which of the following characteristics is most important in differentiating between perfect competition and all other types of markets? Answer Selected Answer: whether or not firms are price takers Correct Answer: whether or not firms are price takers Question 7 10 out of 10 points In economic analysis‚ any amount of profit earned above zero is considered "above normal" because Answer Selected
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Economics and Scarcity Problems In most countries the birth rate has fallen as incomes and the economic opportunities for women have increased. The expansion of women’s income has discouraged fertility. Women have found it more expensive to have kids because of time and limited resources. First being a full time Mother can conflict with the amount of time away from the house. It cost money to have someone watch kids during the day. Women rather only have one or two children because excessiveness
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Principles Of Economics Assignment Nurlisa Asyiqin Salehuddin 951123-10-6264 19295 ‚ Foundation in ICT Madam Khalidah Khalid 1.Define a market. A market is any arrangement where buyers and sellers interact with each other to determine the price and quantity of goods and services to be exchanged at a certain period . It need not be a particular place . For example ‚ Amazon.com website is a market in itself since they bring buyers and sellers together to transact goods and
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The direction of this paper aims to explain a bureaucracy‚ its characteristics‚ and how it is relatable to a business. Bureaucracy is an imperative integrated portion of the American lifestyle and can be found in large corporations of the world‚ down to even simpler businesses. A bureaucracy is a goal-oriented organization founded to finish tasks with an effective and resourceful system according to The Theory of Social and Economic Organization (Weber‚ 1947.) Such organizations contain hierarchical
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Singular Product The prime characteristic of perfect competition is the existence of one single product that is sold by all suppliers at a common price‚ with the quality of the product being the same. This implies that the product is purchased from a supplier does not affect the buyers because of its same price and quality. Innumerable Buyers and Sellers The number of buyers and sellers in the market are infinite. Since only one product is being sold in the market‚ no single buyer or a seller
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allowed people to have surplus food and economic stability. Agricultural populations advanced beyond village life‚ and many people no longer had to practice farming at all. Civilizations first appeared in Mesopotamia‚ in what is now Iraq‚ then in Egypt. Civilizations thrived in the Indus Valley by 2500 BCE‚ in China by 1500 BCE and in Central America‚ what is now Mexico‚ by 1200 BCE. Civilizations developed on every continent except Antarctica. Characteristics of Civilization All civilizations
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historical overlap‚ the countries’ characteristics share several similarities (see Appendix I) in terms of population and country size and income per capita. They have also all adopted the principle of liberal democracy and are now market economies‚ have experienced nearly equal income growth rates and their constitutions and political frameworks show much resemblance (Ketels‚ 2006). The Baltic States are sometimes called the Baltic Tigers because of economic progress. The term is derived from
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PROTISTA GENERAL CHARACTERISTICS * Eukaryotic * Unicellular * Microorganisms * Asexual/sexual reproduction * Flagella & Cilia with 9+2 microtubules ORIGIN * The term "protist" is derived from the Greek protiston‚ meaning the "first of all ones." * Individual protists tend to be quite small‚ either unicellular or an undifferentiated multicellular mass. At one point‚ "Protista" encompassed everything that wasn’t an animal or plant‚ until the advent of cellular biology which
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thought of Asian Values as unique characteristics of Asia as comply strictly by Asian peoples. It is defined as the value that depends on one strong leader to lead a country to become one strong country instead of popular democracy‚ give state a power for a far-reaching to state economy and bureaucracy‚ a social norm that follow strictly by a community‚ and keep the concerning of civil liberties and human right a side by focus even more on the value of social and economic needs (Aligan‚ 2015). As the
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w w w e tr .X m eP UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS GCE Advanced Subsidiary Level and GCE Advanced Level e ap .c rs om MARK SCHEME for the October/November 2007 question paper 9708 ECONOMICS 9708/02 Paper 2 (Data Response and Essay (Core))‚ maximum raw mark 40 This mark scheme is published as an aid to teachers and candidates‚ to indicate the requirements of the examination. It shows the basis on which Examiners were instructed to award marks. It does not indicate
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