1 Tri3 2012/13 Tutorial 1: Ten Principles of Economics Please try to answer all the questions. 1. The overriding reason why households and societies face many decisions is that a. resources are scarce b. goods and services are not scarce c. incomes fluctuate with business cycles d. people‚ by nature‚ tend to disagree 2. Which of the following examples does not illustrate the principle represented by the adage‚ "There is no such thing as a free lunch"? a. Joe needs to pay his rent and his electric
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About Grosvenor Casinos It says a lot about a gaming operation when they exist as part of an elite family such as the Rank Group. For decades now‚ Rank has been providing land-based and online gaming options for loyal patrons throughout many parts of the U.K. It’s the ownership by the Rank Group that gives the Grosvenor Casinos immediate legitimacy. In that regard‚ Grosvenor has been a quality online casino operation since the very beginning of its existence. Grosvenor Casinos was first introduced
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Linda Liu Econ 1301 Dr. Clark Income Inequality and Mass Unemployment: How Are They Related and What Can the Government Intervene Income inequality can be defined as the unequal distribution of individual or household income across the various participants in an economy. The most common causes of income inequality are usually education and training‚ natural talent‚ discrimination‚ preferences and risks‚ market power and unequal distribution of wealth. Unemployment‚ which occurs when a person
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Memorandum –to-the- File: Comprehensive Income Date: June 5‚ 2013 RE: Question about the definition or example of comprehensive income. Facts: I have been contacted by my client who has asked the question about the definition or example of comprehensive income. In recent years‚ there is increased use of fair values for measuring assets and liabilities. Furthermore‚ possible reporting of gains and losses related to fair value has placed a strain on income reporting. Because fair values are continually
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Ford Motor Company Ford Motor Company is one of the first American automotive companies that even today successfully manufactures and sells automobiles‚ trucks‚ buses and automotive parts. Ford is the second largest US automaker and the fifth largest vehicle seller in Europe and the world. Their headquarters are based in Dearborn Michigan. The company was founded in 1903 by Henry Ford. Ford owns a series of motor vehicle brands which includes Ford‚ Lincoln‚ Volvo and Mazda. Ford motor company
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UNILEVER MEMO In order to gain market shares through the low-income segment of the Brazilian market‚ Unilever should launch a new Detergent Powder brand at an affordable price‚ which could replace in the long-run Campeiro‚ its cheapest brand. However this strategy is not without any risks‚ since it can lead to the cannibalization of Minerva. With 81% of market shares in Brazil‚ Unilever is the leader of the Detergent Powder market. It owns three brands in Brazil: Omo‚ Minerva and Campeiro. Omo
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Fees Determined? Card processors normally charge taxpayers for convenience fees when they use their credit or debit card to pay taxes. Fees vary but average about 2.5 percent of the tax payment (IRS.gov). Are These Fees Themselves Deductible? Explain. Credit and debit card convenience fees charged for paying federal individual income taxes are deductible as miscellaneous itemized deductions subject to the 2% floor for taxpayers who itemize (RIA 16181 Tax Liability). Summarize Your Findings
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differences between low income and high income families‚ and the deterioration of neighborhoods. One cause of downfall of neighborhoods is the natural
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Class Discussion 1. Dartmouth Inc’s latest net income was $1‚250‚000‚ and it had 225‚000 shares outstanding. The company wants to pay out 45% of its income. What dividend per share should it declare? 2. Garcia Industries has sales of $200‚000 and accounts receivable of $18‚500‚ and it gives its customers 25 days to pay. The industry average DSO is 27 days‚ based on a 365-day year. If the company changes its credit and collection policy sufficiently to cause its DSO to fall to the
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------------------------------------------------- Case Report Female‚ Age 66 years‚ Cervical Dystonia / Torticollis This 66-year-old female was involved in an auto accident 15 years prior in which she was side-swiped at approximately 40kph. Two years after the accident‚ she started to notice slight involuntary movements in her neck. Her symptoms gradually worsened and she was diagnosed with cervical dystonia / spasmodic torticollis. She described that her neck would involuntarily pull in
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