Managerial economics as defined by Edwin Mansfield is "concerned with application of economic concepts and economic analysis to the problems of formulating rational managerial decision."[1] It is sometimes referred to as business economics and is a branch of economics that applies microeconomicanalysis to decision methods of businesses or other management units. As such‚ it bridges economic theory and economics in practice.[2] It draws heavily from quantitative techniques such as regression analysis and correlation
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since it is daytime. We will be using Altman par Floodlight which produces light over a wide area. Also the combination of Altman follow spot light and and altman fresnel to give more light effects. The red collor scroller is going to be used when Mercutio and Tybalt die since the color red represents blood. Balcony Scene In this scene I don’t need to use much lighting because its night time. I will be using a star gobo to produce star effects on the balcony resembling the stars of the sky. I’m
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volcanoes. Volcanoes generally erode away‚ they are not often preserved in the geologic record‚ but we can infer what types of volcanoes were present by the volcanic deposits left behind. The large‚ violent volcanoes‚ called stratovolcanoes‚ often produce
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consumer sovereignty- Absence of competition- Waste of economic resources | It’s up to the planners a.k.a. the goverment on how to solve the basic economic problem. But they too‚ solve the problem based on the three main questions. What to produce? Planners will decide
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intervention to control the economy. The mixed market economy makes choices on allocation of recourses and how to distribute recourses. These two categories and be split into 4 processes‚ which are: What to produce‚ how much to produce‚ how to produce and how to distribute production. What to produce is decided by different choices within the economy. These choices are based on consumer sovereignty‚ price mechanism and government intervention. Consumer sovereignty is the spending patters of consumers
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„Why do countries trade with each other? Show‚ using examples‚ why this may be to do with the principle of comparative advantage.” In the modern world‚ there is no country that can produce as much as is needed. Countries trade with each other to obtain products and services‚ which they do not have or are unable to produce. Some goods may be unobtainable for certain countries‚ but a lot of things which could be produced are nevertheless imported. Why is it so? Why is it that the country doesn’t want
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they can gain from trade. INTERDEPENDENCE AND THE GAINS FROM TRADE 3 Our Example Two countries: the U.S. and Japan Two goods: computers and wheat One resource: labor‚ measured in hours We will look at how much of both goods each country produces and consumes if the country chooses to be self-sufficient if it trades with the other country INTERDEPENDENCE AND THE GAINS FROM TRADE 4 Production Possibilities in the U.S. The U.S. has 50‚000 hours of labor available for production‚
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5. Spaniards can produce 10 gallons of wine or 5 gallons of olive oil per worker hour. Americans can produce 9 gallons of wine or 3 gallons on olive oil per worker hour. 6. It takes Canadians 6 hours to produce one unit of calculators and 4 hours to produce one unit of backpacks. It takes Japanese 2 hours to produce the calculators and 3 hours to produce the backpacks. 7. Americans produce 50 computers or 50 TV’s per million hours of labor. Chinese produce 30 computers or 40
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facilities‚ agriculture has become commercial in character‚ the farmer grows those crops that fetch a better price. Marketing of agricultural produce is considered as an integral part of agriculture‚ since an agriculturist is encouraged to make more investment and to increase production. Thus there is an increasing awareness that it is not enough to produce a crop or animal product; it must be marketed as well. The importance of marketing in agriculture is very well illustrated by saying‚ "that
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are * ATP (anaerobic) * Lactic acid (anaerobic) * Aerobic (aerobic) All three off these energy systems are fuelled by the same chemical called ADP-PC. These systems produce this chemical at different speeds‚ for example the ATP system produces the chemical very fast as for the aerobic energy system produces it very slowly. ATP is made up from Adenine and 3 phosphate groups it starts up as ADP (adenosine diphosphate) and by adding the chemical Phosphocreatine it becomes ATP. Our body
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