YOUR GREATEST DREAM Nobody can exist without a dream. Everyone dreams of the future to some extent or another. When we are our age we often dream of becoming an astronaut‚ a fire-fighter or an actor. We also dream of becoming a world famous sportsman and to be somebody like Chad Le Clos‚ Ernie Els‚ Victor Matfield or Jaques Kallis. I certainly don’t dream about being Oscar Pistorius. We also dream of fast cars like a Bugatti Veiron or a Ferrari. Unfortunately not all of these dreams are realistic
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1: The Science of Macroeconomics Macroeconomics is the study of the economy as a whole. It addresses many topical issues which includes growth in incomes‚ changes in the overall level of prices‚ and the unemployment rate. Macroeconomists attempt to explain the economy and to devise policies to improve its performance. Economists use different models to examine different issues. Macroeconomic events and performance arise from many microeconomic transactions‚ so macroeconomics uses many of the
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Supply and Demand Simulation Supply and Demand Simulation The simulation for the supply and demand included management decisions involving two- bedroom rental apartments owned by GoodLife Management firm located in Atlantis. The property manager team job consisted of adjusting monthly rental rate for maximizing revenue based on quantity supplied apartments in the economy. Each scenario presented different economics factors‚ variables‚ and issues that required management decision as analyzed
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thought about who had had the greatest impact on my life‚ I began to think of everyone who had been involved in my academic and athletic careers. I realized that I was looking in the wrong part of my life. These people have passed through my life‚ yet the person who had the most impact was one who affected me everyday. My mother‚ by far‚ has had the greatest impact on my life. Her heart and determination are something that I can only hope to have myself one day. I have watched her struggle with running
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more information. We know that the demand for a product is elastic if: Select correct option: When price rises‚ revenue rises. When price rises‚ revenue falls. When price rises‚ quantity demanded rises. When price falls‚ quantity demanded rises The demand for chicken is downward-sloping. Suddenly the price of chicken rises from Rs. 130 per kg to Rs. 140 per kg. This will cause: Select correct option: The demand curve of chicken to shift to the right. The demand curve of chicken to shift to the left
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What do you believe about writing‚ and why? What do you believe about writing‚ and why? I believe that writing can be a great tool for everyone in order to express themselves freely. Not everyone is a writer; some people have to work at putting their thoughts and words together‚ before putting them to paper. We are all unique in how we express ourselves; some are just more creative than others. How do we as individuals‚ get to that point to be able to expand or elaborate further on paper
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I believe that it is more important to have respect then power because a leader without any respect will not have any power for long. Some leader’s today like Saddam Hussein who has all the power in his country‚ but has no respect at all‚ not even from his own people will soon not have power much more. It shows that respect is more important also because when Caesar declined the crown three times it shows that he was not a selfish man and did not want to intend one to his people of Rome. If your going
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TOPIC - 2 DEMAND‚ SUPPLY AND MARKET EQUILIBRIUM The term ‘price’ has a great relevance in economics. In ordinary usage‚ price is the quantity of payment or compensation given by one party to another in return for goods and services. It is generally expressed in terms of units of some form of currency. But how does a product sell for a certain price‚ what constitutes the price of a product and how is the price determined is the bigger question. In economics‚ for a competitive market
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IA 710 CLASS 1 Scarcity‚ shortage and substitutability 1. Answer all parts: a) What do you think is meant by the concept of constrained choice? Why is economics often described as the science of constrained choice? b) Explain how scarcity‚ choice and opportunity cost are relevant when choosing amongst alternatives? 2. Define the concept of “opportunity cost” and discuss various examples. 3. Explain how the concept of opportunity cost may be used to explain the following:
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Supply & Demand‚ and Price Elasticity All things in our society are connected in some way‚ for example‚ how humans relate to each other. Complex ideas and analysis are not without their own set of unique connections. The intricate theories of economics are a prime example of this connection. To gain an accurate understanding of how supply and demand are connected‚ and its role within the market‚ one must analyze the functions of each as separate entities‚ and how they relate to economics as a whole
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