INTRODUCTION The price of a commodity such as wheat increases when there is an increase in demand and decrease in supply. This particular case is currently being experienced in China and South Africa. Preceding the price change‚ changes in demand and supply has to occur. There are factors which cause this change in demand and supply. FACTORS WHICH CAUSE CHANGES IN DEMAND AND SUPPLY China recently experienced a drought causing the low production of wheat. Low production of wheat resulted in a low
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Theory of Demand Q. Distinguish between a normal goods & an inferior goods. Give examples in each case. Ans. Normal Goods are those in case of which a positive relationship between income & quantity demanded. Other things remains constant‚ quantity demanded increase in response to increase in income & vice versa. Inferior Goods are those in case of which there is negative relationship between income & quantity demanded. Other things remains constant‚ quantity demanded decreases
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The Production Function The production function refers to the physical relationship between the inputs or resources of a firm and their output of goods and services at a given period of time. time. The production function is dependent on different time frames. Firms can produce for a brief or lengthy period of time. Inputs - are resources that contribute in the production of a commodity. Most resources are classified into three categories: g Land‚ Labor‚ Capital. Enterprise p The relationship
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union presents its demand. The management either accepts this‚ or rejects it and returns the next day with a counteroffer for wage to be paid to the employees. The firm can open and start functioning only after an agreement on wage is reached between the management and the union. As per the prevailing law in the state and the industry‚ it is the union’s turn to present its demand on the first day/round of negotiation. At this point the management may either accept or reject the demand made by the union
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Spend money or save money? Some people say that it is better to enjoy your money as soon as you earn it‚ while others prefer to save money for their further life. It is really a difficult choice faced by lots of people‚ because of the different attitudes they hold towards money. As far as I am concerned‚ I vote for the former choice‚ which is that it is better for one to enjoy his or her money as soon as it is earned‚ because of these following reasons. First‚ since no one knows what will happen
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which relation is a function? State your reason. Part 2 a) You are required to come out with an attractive and creative card. Your card must have the following information. i) a family photo ii) a family tree b) Write a short description about your family in not more than 150 words. Part 3 Based on Diagram 3‚ answer the following questions. Diagram 3 Find a) function [pic] and function [pic]. b) the inverse function [pic] and [pic]
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Research for Jonathan Swift’s “A Modest Proposal” Research Jonathan Swift: During what time period did he live? Where did he live? Jonathan Swift lived during the 17th-18th century‚ from 1667 – 1745. He lived in Dublin and Ireland. What was his family’s socioeconomic status? Jonathan Swift’s socioeconomic status was very poverty-stricken. How did he view the English politics‚ specifically as it related to Ireland? The restoration of the Catholic monarchy‚ which was a real
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University of Phoenix Material Public Speaking Diagnostic Questionnaire INSTRUCTIONS Answer each of the following questions in complete paragraphs of at least 150 words. QUESTIONs .1 On a scale of 1 to 10‚ with 1 equaling love it‚ and 10 equaling hate it‚ rate your feelings about speaking in front of groups. Explain your reasons for this rating. If I had to rate my feelings for speaking in front of an audience‚ I would have to say that I would give it a five on a scale from one to 10. The
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brisk business in London‚ for the period of the upcoming London Olympic Games. This article was published on 25 June‚ 2012 written by Yasmine Yahya on The Straits Times newspaper. Which 95% of the rooms of The Ascott‚ Millennium & Copthorne Hotels (M&C) and Frasers Hospitality were booked. The games had actually started on 27 July‚ 2012. In addition‚ GuocoLeisure will also have benefit like for example 5‚000 rooms located in London City. To add on with it‚ the London Olympics Council pre-booked
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Glenda Hogan September 16‚ 2006 Supply and Demand Mini Ipod University of Phoenix ECO360 Instructor Frank Kingsland Whenever a hot new product comes out‚ the demand for it is usually extremely high. The intense marketing and promotions of these things boost the hype‚ which pushes the demand. However‚ the supply may be limited for these new hot products‚ which give manufactures the leverage as far as pricing is concerned. The Apple iPod Mini is one of those hot products that had limited
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