money)‚ would cause a shift in demand (the capability and willingness to consume a commodity at a given price at a given time) to the right (from D to D1). The reason for this is because consumers are predicted to borrow more money at lower interest rates (as the rewards for saving money are less than if interest rates were higher)‚ which would therefore lead to an increase in spending. As a result‚ the equilibrium (when the supply of a commodity equals its demand‚ resulting in neither surplus nor
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Meat production is an issue that impacts on the environment. Some of effects that have been associated with meat are pollution‚ fossil fuels‚ and water and land consumption. In March/April of 2010 Bill McKibben published an article called “The Only Way to have a Cow” in Orion magazine. In the article‚ McKibben discusses the benefits of eating less meat which can result in a reduction in carbon emissions as cattle breeding has a big greenhouse effect. He believes that people should rarely eat meat
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Assignment 1 - Economics The demand and supply schedules for gum are given in the table. a. Draw a graph of the gum market‚ label the axes and the curves‚ and mark in the equilibrium price and quantity. b. Suppose that the price of gum is 70¢ a pack. Describe the situation in the gum market and explain how the price adjusts. c. Suppose that the price of gum is 30¢ a pack. Describe the situation in the gum market and explain how the price adjusts. d. A fire destroys some factories that produce
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1/3/14 What is Positive Economics | What is Normative Economics Positive economics is economics that does not apply objectives to what an economy should be doing or what it “ought to be” doing. It ill describe equilibrium levels at certain prices and quantities but give no opinion on whether that is an appropriate price of quantity‚ It will examine the quantity theory of money and the interest rate while never stating whether an interest rate is good or bad. The “free market” is a system
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Part A – Microeconomics: Question 1: Indicate whether each of the following changes in price cause total revenue to increase‚ decrease or remain unchanged? Explain why. (2 marks each) a Price falls and demand is elastic; b Price rises and demand is elastic; c Price falls and demand is unitary elastic; d Price rises and demand is unitary elastic; e Price falls and demand is inelastic. Question 2: a Define‚ describe and illustrate with a diagram‚ one opportunity cost
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Introduction to Economics and the Economy 1. Limits‚ Alternatives‚ and Choices © The McGraw−Hill Companies‚ 2009 IN THIS CHAPTER YOU WILL LEARN: 1 The definition of economics and the features of the economic perspective. 2 The role of economic theory in economics. 3 The distinction between microeconomics and macroeconomics. 4 The categories of scarce resources and the nature of the economizing problem. 5 About production possibilities analysis‚ increasing opportunity costs‚ and economic growth. 6
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is the favorite “agahan or almusal” breakfast food of most Filipinos. INGREDIENTS 2 cups all purpose flour 2 cups bread flour ½ cup white sugar 5 tbspmargarine‚ melted 1 tsp baking powder 1 pouch rapid rise yeast 1 tsp salt 1 cup bread crumbs 1 piece raw egg 1 tbsp cooking oil PROCEDURES 1. Combine the yeast and sugar and stir until the yeast and sugar are fully dissolved 2. In the mixing bowl‚ combine the dry ingredients starting with the flour then the sugar‚ salt‚ and baking powder. Mix well
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parties that is intended to be legally binding. Every promise or promises which form the consideration for others is an agreement. It may be Oral or in writing. Well‚ in this short note‚ I am trying to explain the essential ingredients which shall form part of any agreement 1. Title: of the parties shall be clearly mentioned. 2. Recital 3. Tenure of agreement 4. Purpose/Scope of agreement 5. Commercial/Consideration part 6. Clause on Notice period 7. Termination clause 8. Effect of termination
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KEY GROWTH SECTORS OF THE KENYAS ECONOMY Economic growth is the increase in the amount of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product i.e. real GDP. In Kenya the key main sectors to achieve economic growth are agriculture which is the mainstay economic growth drivers‚ energy sector‚ manufacturing and industry‚ service sector which is mainly tourism‚ financial services and banking and also the
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after working and studying time‚ and family member might stay closer together watching meaningful movies. Needless to say‚ the people in my neighborhood will have better entertainment conditions‚ and that make their life become more interesting. What is more‚ it will be much more convenient to live near a movie theater. Whenever people in my town want to go out to watch a film‚ it usually takes them 30 minutes to travel from home to the city’s movie theater. Now‚ thanks to the location of the new
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