Timings :1 hour TEST Max.Marks 58 Choose the most appropriate answer from the given options in respect of the following : 1)”Economics is the study of mankind in the ordinary business of life” was given by : a) Adam Smith b)Lord Robbins c)Alfred Marshall d)Samuelson 2)A capitalist economy uses as the principal means of allocating resources a)Demand b)Supply c)Efficiency d)Price 3)The commodity whose demand is associated
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What is Economics? Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Economics explains how people interact within markets to get what they want or accomplish certain goals. Since economics is a driving force of human interaction‚ studying it often reveals why people and governments behave in particular ways. There are two main types of economics: macroeconomics and microeconomics. Microeconomics focuses on the actions
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percent‚ and prices fell about 19 percent. Question 5 1 out of 1 points Most economists believe that classical economic theory is a good description of the world over which of the following time periods? Answer Selected Answer: in the long run‚ but not in the short run Correct Answer: in the long run‚ but not in the short run Question 6 1 out of 1 points Scenario 14-1. The economy is in long-run equilibrium. Suddenly‚ due to improved international relations
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w w w e tr .X m eP UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS GCE Advanced Subsidiary Level and GCE Advanced Level e ap .c rs om MARK SCHEME for the October/November 2009 question paper for the guidance of teachers 9708 ECONOMICS 9708/22 Paper 22 (Data Response and Essay – Core)‚ maximum raw mark 40 This mark scheme is published as an aid to teachers and candidates‚ to indicate the requirements of the examination. It shows the basis on which Examiners were instructed to award
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Definitions; Basic economic problem – Capital capital goods‚ or real capital are those already-produced durable goods that are used in production of goods or services. Command economy – economy where supply and price are regulated by the government rather than market forces Division of labour - Division of labour is the specialization of cooperative labour in specific‚ circumscribed tasks and like roles Enterprise- simply another name for a business. Free market economy - is an economy in
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data show a positive correlation between political stability and economic growth. a. Through what mechanism could political stability lead to strong economic growth? b. Through what mechanism could strong economic growth lead to political stability? Ans 8 a. Political stability could lead to strong economic growth by making the country attractive to investors. The increased investment would raise economic growth. b. Strong economic growth could lead to political stability because when people have
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10:00 10:50 MARMARA UNIVERSITY DEPARTMENT OF ECONOMICS 2013 - 2014 ACADEMIC YEAR SPRING SEMESTER FIRST YEAR 11:00 12:00 13:00 11:50 12:50 13:50 MONDAY SOC 1002 SOCIOLOGY Dr. Zeynep BEŞPINAR A106 TUESDAY 14:00 14:50 15:00 15:50 ECON 1006 RESEARCH METHODS IN ECONOMICS Prof.Dr. Fatma DOĞRUEL A106 ACC 1002 FINANCIAL ACCOUNTING Asst. Prof. Müge SALTOĞLU A106 WEDNESDAY ECON 1002 INTRO. TO ECONOMICS II Prof. Nesrin SUNGUR ÇAKMAK A106 THURSDAY
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ECONOMICS conimists- 16th and 17th centuries. hysiocrats (farmers) ercantalists (traders) Father of Economics/ Father of the classical school of economic thought- Adam Smith (In 1776‚ he wrote ’An enquiry into the nature and causes of the Wealth of Nations’) According to Smith‚ self interest was an invisible hand which would work for the common benefit of the community. The Great Depression of 1929 was a phase in which supply exceeded demand. John Maynard Keynes (a British economist)
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schedulePrice 0.5 1 1.5 2 2.5 3 Quantity (consumer A) 6 5 4 3 2 1 • Market demand schedule- a table that shows the quantity of commodities that would be demanded by all consumers at given prices. Price Quantity (consumer A) Quantity (consumer B) Market 0.5 6 10 16 1 5 8 13 1.5 ĞŵĂŶĚ ĐƵƌǀĞ ŽĨ ŽŶƐƵŵĞƌ DĂƌŬĞƚ ĞŵĂŶĚ ĐƵƌǀĞ 10 4 7 2 2 4 3 ĞŵĂŶĚ ĐƵƌǀĞ ŽĨ ŽŶƐƵŵĞƌ 6 3 2.5 • Market demand curve- is the horizontal
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Executive Summary How did the economics change? Now more and more companies do the cooperation under the TCE concept. McNutt (2010) defined within managerial economics‚ the Transactions cost economics (TCE) approach and analysis examine this phenomenon through the understanding that firms compare the cost of internal co-ordination to the cost of using market (transaction costs) in deciding how to co-ordination economics exchange in order to optimize efficiency. We will take our company Adecco
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