1. Explain economics? Economics is the study of how society allocates scarce resources and goods. Resources are the inputs that society uses to produce output‚ called goods. Resources include inputs such as labor‚ capital‚ and land. Goods include products such as food‚ clothing‚ and housing as well as services such as those provided by barbers‚ doctors‚ and police officers. These resources and goods maybe be considered scarce because of society’s tendency to demand more resources and goods than
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Question (a) Identify the principle of law The principles of law relevant to this question are the doctrines of intention and consideration. Explain the rules of law The doctrine of intention is an undertaking by both sides of an agreement to be legally bound either by an informal agreement such as verbal intention to purchase or act‚ or a written document stating intention to purchase or act‚ which could be in the form of a letter or a written statement as compared to a formal agreement
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Economics Reviewer (For IV- Understanding ONLY) Market – the medium in which buyers and sellers interact. (Note: its meaning is not limited to a location or geographical area‚ it also focuses on people who are WILLING and ABLE to buy and/or sell goods and services. Two major players/actors in the market: Buyers & Sellers Market Equilibrium: when buyers and sellers agree at a certain price and quantity to transact Price Equilibrium: price agreed by both buyers and sellers. Quantity Equilibrium:
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This is an example of derived demand. False 6. Cost–benefit analysis (CBA) is a set of techniques for assisting in the making of decisions that translates all relevant concerns into market (dollar) terms. True 7. The appropriate measure of economic cost is opportunity cost. True 8. How much has to be paid for treatment‚ and how much the treatment is worth‚ depends on whose perspective a cost–benefit analysis of health care is taking. True 9. The chance that you might become injured or
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Part 1 of 1 - 90.0/ 100.0 Points Question 1 of 10 10.0/ 10.0 Points According to the text‚ how many activities are typically associated with employee counseling programs? A.Eight B.Five C.Ten D.Six Answer Key: D Feedback: Correct! Question 2 of 10 10.0/ 10.0 Points What are job-based programs operating within a work organization for the purposes of identifying troubled employees‚ motivating them to resolve their troubles‚ and providing access to counseling
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A. the principle of absolute advantage B. the recognition that government intervention in markets sometimes enhances the economic welfare of the society C. the principle of comparative advantage D. the recognition that not all markets are competitive 18) Which of the following statements about GDP is correct? A. GDP is to a nation’s economy as household income is
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The first thing that caught my eye on the Wellesley 100 was Angela Carpenter’s invented language class. My chosen major is linguistics‚ and I was excited to see an elective related to it given enough importance to be in the Wellesley 100. Not only that‚ but the approach is exactly what I hope to find in college. Part of the class is‚ after studying different already invented languages‚ creating your own. I know that 70% of college students change their major from freshman year and this is why. I
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4. which area of the HR function is least affected by internationalization? a. compensation b. training c. succession planning d. equal employment opportunities 5. The basis for human resource planning is - a. the economic trends b. strategic plans of the firm c. budgets d. supply of employees 6. Techniques of estimating demand for human resources- a. mere approximations b. are rarely done c. involve HR audits
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Life 100 years ago From 1909‚ the world population soared from 1.7 to 6.4 billion people. Also the average life expectancy was only 47 years back then! There used to be a minimal amount of cars in the streets‚ people probably used to walk more often and just 8000 automobiles in the United States could be found there with only 144 miles of paved roads. The maximum speed limit was 10 mph. Even though the air didn’t use to be so polluted by cars and other vehicles 100 years ago‚ I think that now
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• 1 The most critical quality of ethical decision making is o objectivity o economics o expeditions o consistency Correct • 2 A major consequence of the Sarbanes-Oxley Act of 2002 has been the o political fallout in congress o super growth in accounting firms in the U.S. o reorganizing of the governance structure of American corporations o outsourcing of jobs in lower wage countries Correct • 3 Judging the appropriateness of a particular action based
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