an industry where there is a high level of market concentration. Examples of markets that can be described as oligopolies include the markets for petrol in the UK‚ soft drinks producers and the major high street banks. Another example is the global market for sports footwear – 60% of which is held by Nike a nd Adidas. However‚ oligopoly is best defined by the conduct (or behaviour) of firms within a market . T he concentration ratio measures the extent to which a market or industry is dominated
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UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS General Certificate of Education Advanced Level 9708/42 ECONOMICS Paper 4 Data Response and Essays (Supplement) October/November 2011 2 hours 15 minutes Additional Materials: Answer Booklet/Paper * 2 1 8 2 6 0 2 5 0 5 * READ THESE INSTRUCTIONS FIRST If you have been given an Answer Booklet‚ follow the instructions on the front cover of the Booklet. Write your Centre number‚ candidate number and name on all the work you
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Chapter 1: ECONOMIC INTERDEPENDENCE.- “ When the U.S sneezes‚ the economies of other nations catch a cold” GLOBALIZATION . Is the process of greater interdependence among countries and their citizens. Agglomeration Economies.- are a powerful force that help explain the advantages of the "clustering effect" of many activities ranging from retailing to transport terminals. (Urbanization‚ Industrialization‚ Localization economies) FOREIGN OUTSOURCING.- Certain aspects of a product’s manufacture
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FINANCIAL EMPOWERMENT OF MICRO AND SMALL ENTERPRI ABSTRACT Microfinance is the provision of savings accounts‚ loans‚ insurance‚ money transfers and other banking services to customers that lack access to traditional financial services‚ usually because of poverty. It is the provision of financial services to the low income households and micro and small enterprises. The general objective of this study was to investigate the impact of Microfinance on financial empowerment of Micro and Small Enterprises
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ECONOMIC HISTORY Only study guide for ECS2608 J. Inggs Department of Economics University of South Africa Pretoria © 2012 University of South Africa All rights reserved Printed and published by the University of South Africa Muckleneuk‚ Pretoria Page-layout by the Department ECS2608/1/2012-2014 iii ECS2608/1/12-14 Contents ECONOMIC HISTORY OF THE WORLD Important topics and specific national examples between the two World Wars Chapter Page 1 HOW THE STUDY GUIDE
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Economics Answers Define the following terms: 1) Public goods are goods that when produced can be freely consumed by anyone‚ for example the justice system. They are made up of the following goods‚ non-exclusive and non-rival. Non-exclusive goods are goods that people cannot be excluded from consuming‚ it is difficult or impossible to charge for its use which implies no private market as benefits cannot be denied to those who refuse to pay‚ for example public TV. Non-rival goods or
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Chapter 1 The Big Ideas in Economics Think of why some goods should be allocated by money while some not. Why demand curve is downward sloping? Two effects: 1.Substitution effect (dominent) 2.Income effect (small) The demand&supply curve can be read horizontally or vertically. You should be familiar with both ways of reading. Chapter 3 Supply&Demand Concepts: 1.A normal good: a good for which demand increases when income increases. An inferior good: a good for which demand decreases
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10 40.71 60 160 9600 -10 6000 15 37.5 50 180 9000 -30 6400 20 35.56 (b) The market structure of television broadcasting industry is oligopoly. As the television broadcasting industry requires license given by government‚ so it has barriers to enter the industry. Also‚ there is only three television broadcasting companies in the market‚ the industry just exists a few sellers. Moreover‚ to the commercial companies‚ advertising services from different broadcasting company are differentiated
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taking its price from the whole industry. 6. There are a very large numbers of firms in the market. 7. There is no need for government regulation‚ except to make markets more competitive. 8. There are assumed to be no externalities‚ that is no external costs or benefits. 9. Firms can only make normal profits in the long run‚ but they can make abnormal profits in the short run. The firm as price taker The single firm takes its price from the industry‚ and is‚ consequently‚ referred to
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distinguish macrosociology from microsociology‚ which focuses on the social activities of individuals and small groups. The micro-macro distinction forms one of the central dualisms characterizing divergent sociological perspectives. Seemingly polar opposites such as conflict-consensus‚ stability-change‚ structure-agency‚ subjectiveobjective‚ and materialist-idealist‚ as well as micro-macro‚ provide a shorthand method for denoting differences in central assumptions‚ subjects‚ and models. As with many other
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