fast food restaurants for that reason. 5. If all other factors are equal‚ what is likely to happen to the supply of a product if the price goes up? Why? Explain. (3-6 sentences. 3.0 points) Supply is how much of something is available. Demand is how much of that thing that people want. If the price of a product goes up‚ its supply is going to go up and the demand will go down. People always want the best price. 6. If all other factors are equal‚ what is likely to happen
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The political compass is a test available online in which people have the option of learning more about their own political views from a scale of authoritarian and libertarian as well as if their views are considered collectivism or neo-liberalism. The test consists of over sixty two questions‚ in which it is meant to gather information on your own personal general attitudes. The questions varied and consisted of statements similar to “I would always support my country‚ regardless if it was right/wrong
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Factors of Production 1. Land 2. Labor 3. Capital (Money) is not actually considered as capital in economics as it does not produce a good and service but it is rather a form of asset that is used as a medium of exchange. 4. Entrepreneurship The 3 E’s in ECONOMICS 1. Efficiency refers to productivity and proper allocation of economic resources. 2. Equity means justice and fairness. 3. Effectiveness means attainment of goals and objectives. Types of Economic Systems To address
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FACTOR ANALYSIS Factor analysis is a general name denoting a class of procedures primarily used for data reduction and summarization. It is used in the following circumstances: • To identify underlying dimensions or factors‚ that explains the correlations among the set of variables. • To identify new‚ smaller set of uncorrelated variables to replace the original set of correlated variables in subsequent multivariate analysis. • To identify smaller set of salient variables from a larger set for
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There are many different life factors that affect the way a person develops and acts. When a person is going through their different stages of development‚ factors that are around them can define the way they are. Major life events may also have an influence on the way the person develops through the life stages. In this essay I am going to discuss the effects of five different life factors and also two predictable and two unpredictable major life events‚ which may affect the development of an individual
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Factor Analysis Introduction Basic Concept of Factor Analysis Factor analysis is a statistical approach to reduce a large set of variables that are mostly correlated to each other to a small set of variables or factors. It is also used to explain the variables in the common underlying factors. (Hair et al‚ 1998) Malhotra‚ 2006 mentioned that factor analysis is also an interdependence technique that both dependent and independent variables are examined without making distinction between them
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Janine Krüger: Department of Business Management‚ Nelson Mandela Metropolitan University Chantal Rootman: Department of Business Management‚ Nelson Mandela Metropolitan University Purpose: The purpose of this research is to scrutinise motivational factors that may influence the levels of satisfaction and commitment of small business employees. Problem investigated: An unmotivated workforce leads to dissatisfaction and low commitment levels among employees. Possible consequences of these unproductive
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COMMUNICATION AND ITS FACTORS Communication is an essential part of the development of a functional society member. This action helps us satisfy basic interpersonal needs to express emotions‚ information‚ concerns‚ and motivation‚ inquire‚ and even for persuading. Communication can take place verbally‚ written‚ or signed. Many factors can deviate the intention of the information that is being transmitted. Verbal communication is affected by the ability of the sender to adequately transmit the information
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Heather N English 001A Midterm Essay 13 February 2013 The Factors of Success Success is a term that many use as a way to describe ideals. Living in a world that exalts the extraordinary‚ praises the leaders‚ and puts the best up on a pedestal‚ it is not hard to guess why achieving success is what the human race strives to do. Youth look up to the exceptional people in their life‚ media grasps stories of thriving individuals‚ and the world idolizes those who stand out. People endeavor great
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FACTORS OF PRODUCTION In economics‚ factors of production are the inputs to the production process. Finished goods are the output. Input determines the quantity of output i.e. output depends upon input. Input is the starting point and output is the end point of production process and such input-output relationship is called a production function. ’Factors of production’ may also refer specifically to the ’primary factors’‚ which are stocks including land‚ labor (the ability to work)‚ and capital
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