Question 1: (a) Explain the impact of external costs and external benefits on resource allocation; (2.5 marks) The external cost and external benefit is a cost or benefit imposed on people other than the consumers and producers of a good or service. External cost is negative and may be detrimental to the third party‚ conversely‚ external benefits is positive and beneficial to third party. Because of this concept‚ it will effect resource allocation. An external cost‚ i.e. a negative externality
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What is a Good Education? Education literally means the things a person learns by being taught. So‚ the definition of a good education would be the things a person learns by being taught well. But what exactly does that mean? No one has ever told you that‚ right. To me a good education is basically achieved when a person has a general to specific knowledge of the things that have happened in the world‚ things that could happen in the future of the world‚ how to communicate with others
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death shall be no more‚’‚ comma‚ "Death thou shalt die.’ ’Nothing but a breath‚ a comma‚ separates life from life everlasting. With the original punctuation restored‚ death is a comma. A pause. In this way‚ one learns something from the poem‚ wouldn’t you say? (Wit).’" These are lines from the renowned play Wit‚ when Vivian Bearing‚ the main character‚ learns John Donne’s Holy Sonnet 10‚ but misses the meaning of the sonnet and the main idea that her professor emphasizes. John Donne did not even write
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What is the "Good Life"? There are many different interpretations of what the "good life" truly is. Individualists believe that the "good life" is pleasing oneself; while utilitarians believe that the "good life" is acting for the good of the rest of society and others. Philosophers also have their own interpretations. One philosopher that has his own interpretation is Plato in the Symposium. Plato portrays to the philosopher ’s "good life" when he uses the phrase "my greatest pleasure." The choice
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Love in today’s world has been strongly effected by the social and artistic factors of the past. The question of how has the social environment‚ in which love is taking place‚ effected the people that are in love. In stories like Romeo and Juliet‚ the social environment is the major aspect of the main character love life. Because of their feuding families‚ their love almost did not exisist‚ but at the same time‚ if their families where not in this situation‚ their love might not of been inspired
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Download Services Introduction In computer networks‚ the term “download” means to receive data (to your local system) from an external‚ remote system. Examples of such systems include FTP server and e-mail servers. It is implied that the data that is to be downloaded is going to be stored permanently. In many cases‚ users of download services use tools which are dedicated to the task of downloading‚ known as download managers. Download managers have various features‚ including the ability to
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Number 1 ♦ 2010 SERVICE QUALITY IN THE PUBLIC SERVICE Prabha Ramseook-Munhurrun‚ University of Technology‚ Mauritius Soolakshna D. Lukea-Bhiwajee‚ University of Technology‚ Mauritius Perunjodi Naidoo‚ University of Technology‚ Mauritius ABSTRACT The purpose of this paper is to obtain a better understanding of the extent to which service quality is delivered within the Mauritian public service by drawing on front-line employees (FLE) and customer perceptions of service quality. The paper
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Determinants of Supply and Demand If the demand for corn increases due to its use as an alternative energy source‚ soybean would become useless‚ more so the price for corn would increase because it may be limited since it would be its only demand. Like the old saying demand goes up‚ so does price. As price goes up‚ demand goes down‚ forcing equilibrium. If there is a decrease in soybean supply due to less farmland for soybean production‚ everything is based on a give and take‚ so someone has
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A good life is not a specific way of life for every person. For each person‚ the meaning of a good life differs. What ever way of life a person is comfortable and happy with counts as a good life for that person. in my opinion‚ a good life is when i have as much control as possible over my life so that i can change anything i don’t like into something i am happy with. With the control i want over my life i would also like to be able to let things go freely when ever i feel like it and " go with
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Chapter 3—Supply and Demand Question 1. Draw a demand curve with an equilibrium price and quantity‚ show what happens on your diagram when each of the following events occurs. Explain whether each of the following events represents a (i) shift of the demand curve or (ii) a movement along the demand curve. (a) A store owner finds that customers are willing to pay more for umbrellas on rainy days (b) When XYZ Telecom‚ a long-distance telephone service provider‚ offered
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