Government’s Role in Economic Efficiency Law and Economic Efficiency Criminal Law | Prohibits actions that harm others. E.g.‚ theft‚ robbery‚ fraud‚ assault and murder | Shifts behaviour away from harmful activities toward Pareto-improving activities. | Contract Law | Establishes rules for writing and enforcing contracts and penalties for failure to fulfil. | Enables Pareto Improvements involving future promises‚ such as financial contracts or work performed by employees. | Property Law |
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1. Exercise 2: Poverty trends Update the Table 1 of “Halving global poverty”. Download from the World Development Indicators database the following data: * Poverty headcount ratio at $1.25 a day (PPP) (% of population) * Population‚ total For the main geographic areas of Table 1‚ and since 1990 2. Calculate the number of poor Geographic Region (developing) | 1990 | 1993 | 1996 | 1999 | 2002 | 2005 | 2008 | Europe & Central Asia | 7‚482‚812 |
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draw a diagram of a perfectly competitive firm earning a positive economic profit assume the wages‚ which the firm pays to its workers‚ falls. Illustrate the impact of such an event on the price‚ output and profits of this firm 2. Examine the following statement to see whether it is true or false. If it is true‚ explain why it is true. If it is false‚ explain why it is false and then write the statement correctly. A profit maximising perfectly competitive firm should select the output level
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Economics Bi-weekly essay #1 Religions role in economics and the Medici’s role in banking Economics Word Count: 533 In the early years of economics religion played a major role in banking. The Medici as well were a big part of establishing the modern world of banking as we know it now. Religion in economics played the role of determining who a person was able to lend money to. The Medici were a big part of establishing the modern world of banking as we know it today
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Economic systems are identified by how they answer the three questions of what‚ how‚ and for whom to produce. Similarly‚ they are theoretical representations of economies found throughout the world that demonstrate the distribution of control between people and the government. The economic systems exist on a continuum‚ with command economies on one side and the free markets on the other side. The United States has a free market economy but with a notable amount of government intervention‚ therefore
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The Financial System in Nigeria: An Overview of Banking Sector Reforms The Financial System in Nigeria: An Overview of Banking Sector Reforms E. J. Ofanson (Ph.D)1 O. M. Aigbokhaevbolo (Ph.D)2 G. O. Enabulu3 Abstract The paper overviews the banking sector reforms within the framework of the Nigerian Financial System. A theoretical approach was adopted although empirical evidence was presented in some cases. It was clear that developments in the banking sub-sector of the Nigerian financial system
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towards concepts of sustainable development and the acquisition of progressively higher standards of living .Growth without development is being criticised as being an ephemeral and increasingly deceptive indicator of the actual state of the economy .Concepts like population growth which erode economic growth and education and health which enhance human capital accumulation are gaining a lot of importance and are being touted as being as essential to the development of an economy as the growth rate
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nline Advertising in Nigeria One of the best channels for promoting brands ‚ products and businesses is Internet advertising and it has evolved into one of the most explored new mediums available today. The popularity of the Internet as a new media channel has exploded in recent years‚ attributed mostly to faster‚ more reliable and more affordable broadband connections . More and more advertisers are shifting from traditional advertising channels and going online in order to maximize audience
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Mass media in Nigeria Prior to the revolution of the Information and Communication Technology (ICT)‚ the television‚ radio and print media had been the main source of mass communication. The development of mass media in Nigeria dates back to 1970 with the print media being the first having a coverage of about 45% with more penetration in the urban areas. The radio soon followed having a more widely reached audience though the availability of the radio at earlier stages was low and in 1990 then
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telecommunications. Information technology (IT) infrastructures are rapidly emerging as a vital factor in socioeconomic development and hence‚ have a crucial role to play in addressing development challenges. Onyeke (2008:319) wrote on the appreciation of information technology in Nigeria banks and pointed out that information technology is becoming the backbone of banks’ services regeneration in Nigeria. He cited the Diamond Integrated Banking Services (DIBS) of Diamond Bank Limited and Electronic Smart Card
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