Economics is the study of how individuals and societies choose to use the scarce resources that nature and previous generations have provided. There are many reasons to study economics‚ including 1.To learn a way of thinking 2.To understand society 3.To understand global affairs 4.To be an informed voter Economics has three fundamental concepts: a. Opportunity cost‚ b. Marginalism‚ and c. Efficient markets. a. Opportunity cost is the best alternative that we forgo‚ or give
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MALINI KISHOR SANGHVI COLLEGE OF COMMERCE AND ECONOMICS SUBJECT: LOGISTICS AND SUPPLY CHAIN MANAGEMENT TOPIC NAME: TRANSPORTATION AND INFRASTRUCTURE SUBMITTED BY :NameRoll No. 112 113 114 115 116 117 Submitted to: Prof. Vijay Kumar Signature: Date: /07/2013 ACKNOWLEDGEMENT We consider it a great privilege to get an opportunity to express my feelings towards all those who have helped us in completion of my project. Hard work‚ devotion
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ECON1210 Online Quiz #1 Solutions Q.01: The main incentive for business activity is: A) government subsidies. B) technological advancement. C) profit. D) government regulation. Ans) C Solution: Profit is the reward in monetary term that serves as the main incentive for business activity. Government subsidies‚ if available‚ may serve as an incentive for business activity but it will never be a main one. Technological advancement and government regulation are not incentives that will reward business
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CHAPTER 12 Fiscal Policy A. Short-Answer‚ Essays‚ and Problems 1. Give a brief definition of fiscal policy? What are its economic goals? 2. What is the Council of Economic Advisers? 3. “The Employment Act of 1946 is no more than a vague and ill-defined commitment by the Federal government to assist in the achievement of full employment.” Do you agree? Explain. 4. Explain the effect of a discretionary cut in taxes of $40 billion on the economy when the economy’s marginal propensity to consume
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Table of contents 2 1. Abstract 3 2. Transportation 3 3. History of transport 3-4 4. Technology
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should invest in railways rather than roads The population explosion results in the high demands of transportation. Many countries have suffered from pollution‚ noisy and casualty for a long time. From my perspective‚ the most possible solution to these problems is improving roads and highways because of three below crucial reasons. First and foremost‚ we all know that upgrading public transportation will surely aggravate the pollution and accidents. The buses‚ cars and trains regularly emit a noxious
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Globalization would be impossible without Transportation. Whether it be the 2‚000-year-old Roman Roads that connected the Mediterranean worlds of Europe‚ Africa‚ and Asia‚ many of which still exist today‚ to the Silk Road that carried goods across the entire Asian continent and beyond. Globalization would not exist if not for the maritime Triangle Trade that connected four continents‚ two hemispheres‚ and brought the Old and New World’s together. Transportation has also brought Globalization to modern
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Marginal [revenue] product The increase in a firm’s total revenue resulting from hiring an [additional] unit of labor or other variable resource. Demand curve for labor A curve showing the different quantities of labor employers are willing to [hire] at [different] wage rates in a given time period‚ ceteris paribus. It is equal to the marginal revenue product of labor. Derived demand The demand for labor and other factors of production that depends on the [consumer] demand for the final goods
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MRT advantages and disadvantages The MRT is opened in 1987 and now‚ it is going to fully operate 9 lines‚ North-South‚ East-West‚ North-East‚ Circle line‚ including the under-constructing Downtown line‚ and the under-planning Thomson line Eastern and Jurong lines and also Cross Island line by an estimated 2030‚ which all these operated lines are going to connect almost the whole of Singapore so as to extend its operating systems and increase its accessibility to all Singaporeans such as the students
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Transportation Transport or transportation is the movement of people‚ animals and goods from one location to another. Modes of transport include air‚ rail‚ road‚ water‚ cable‚ pipeline‚ and space. The field can be divided into infrastructure‚ vehicles‚ and operations. Transport is important since it enables trade between people‚ which in turn establishes civilizations. Transport infrastructure consists of the fixed installations necessary for transport‚ including roads‚ railways‚ airways‚ waterways
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