governments confront scarcity by making choices. SSEF2 The student will give examples of how rational decision making entails comparing the marginal benefits and the marginal costs of an action. a. Illustrate by means of a production possibilities curve the trade-offs between two options. b. Explain that rational decisions occur when the marginal benefits of an action equal or exceed the marginal costs. SSEF3 The student will explain how specialization and voluntary exchange between buyers and
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Globalisation is a positive force in the world. Discuss. In recent years‚ amongst all the claims and counterclaims‚ the argument over whether globalisation is a positive force or not has become rather controversial. Advocates claim globalisation facilitates economic growth‚ international financial integration‚ and cooperation between nations while critics vigorously argue that globalisation leads to a fierce exploitation of the labour class‚ a disparity between rich and poor‚ and a concentration
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Benefits of War Although it may not be obvious‚ there are many clear benefits to war‚ at least from an American perspective. As a result‚ war helps to stimulate the economy‚ allowing us to maintain our superior position on the rest of the world‚ creating a sense of nationalism among Americans. Throughout the past years and conflicts many new ideas and benefits were brought about‚ much of which is from WWII. If young men and women‚ barely of legal age‚ are sent into foreign grounds for combat‚ there
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Disadvantages of Windmills Wind energy is one of the many renewable energy resources that provide cheap and efficient energy. Wind energy comes from wind turbines‚ similar to windmills‚ which use the wind to make electricity. This renewable energy resource is very affordable‚ clean‚ and it can never run out because the wind comes from the sun. But according to Selling the Wind by Michelle Nijhuis‚ “It’s well known that wind turbines kill both birds and bats‚ though exactly how often and why these
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1. What is the ‘economic problem’? The fundamental economic problem is related to the issue of scarcity. Scarcity means that resources are limited and short in supply in the world (e.g. diamond). Because of limited resources and unlimited demands‚ society needs to decide how much to produce and distribute these relatively scarce resources. The basic economic problem can be define as what to produce‚ how much to produce and for whom to produce. Some countries are lucky to have great natural resources
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There are such disadvantages that follow‚ ones such as the impact of language barriers. This has had a large impact on their way of living as they need to communicate with people who speak their common language‚ segregating them to certain areas. Sold through various social
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article that investigates on whether the flappers have a positive or negative impact on the American culture and if they deserved to earn the right to pursue their freedom. DiPaolo’s main claim is that the flappers have an equal amounts of benefits and disadvantages to the societies. To support the author’s argument‚ he presents two polarized groups that have completly opposite point of views in regards to the flapper culture. To develop and build upon his claim‚ DiPaolo presents a side-by-side analysis
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Additionally‚ there is increased trade and outsourcing among nations which basically results in these nations working like partners because they are working together in order to better their situation. Globalization has advantages as well as disadvantages. It is viewed as a cause for increasing problems and also as a way of balancing things with one another. Globalization is all around‚ can be seen everywhere‚ and effects everyone. Globalization is a continuous process through which different
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towards stakeholders at different spatial levels is the most visible change in the state‚ in a globalized world. The thesis about the end of the state is unsustainable. According to Poulantzas‚ a nation-state should be seen as ‘self-replaceable’. Economic globalization is seen as the force which most threatens the authority of the nation-state. The state ’s ability to act in opposition to market forces is devastated by the fact that the state must reduce regulatory standards in order to attract capital
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right to choose where he/she wants to study. There are two choices on how one can attain education. It is through attending schools or homeschooling. Homeschooling is the process of studying in your own home. Despite the many benefits of homeschooling‚ there are some disadvantages to it. The amount of sacrifice of a person can affect him/her physically‚ emotionally‚ and financially. How would you think a child gain friends if he/she is homeschooled? We must know that homeschooling affects a student’s
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