CPI has 50 units of food and 10 units of clothing. | |food |clothing | |2002 price |$4 |$10 | |2003 price |$6 |$20 | a. What are the percentage increases in the price of food and in the price of clothing? b. What is the percentage increase in the CPI? c. Do these price changes
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QUESTION 1 Price ceiling create shortage. How to overcome it? According to the book “Economic Theory in the Malaysian Context”‚ the definition of price ceiling is a legally established maximum price a seller can charge. It means that the price is lower than the equilibrium market price and it cannot go above the ceiling price. The reason that government imposes ceiling price on item such as beef‚ flour‚ sugar and many more is because to ensure that consumers are able to buy these goods at
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Price elasticity of demand In economics and business studies‚ the price elasticity of demand (PED) is an elasticity that measures the nature and degree of the relationship between changes in quantity demanded of a good and changes in its price. Introduction When the price of a good falls‚ the quantity consumers demand of the good typically rises; if it costs less‚ consumers buy more. Price elasticity of demand measures the responsiveness of a change in quantity demanded for a good or service to
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The Mercantile Produce Brokers (Pvt.) Ltd has incorporated as a Private Limited Liability Company‚ under the Companies Act 1982‚ in September 1995. This is a tea brokering company. In 1992 MPBL had a market share of 1 percent with investment of Rs.14million. The Restructuring also involved the transfer of 60 percent of the share capital to Mercantile Produce Brokers (pvt) Ltd. The Company has a team of highly knowledgeable‚ skilled and experienced person in the Tea industry‚ which had been the main
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in to three quality costs which were price of conformance(POCs)‚ price of non-conformance(PONCs) and normal business(NBs). When we looked at PONCs‚ we should be careful of some key words like “loss of use” in question 5‚ “re-work” in question 6‚ “error” in question 11 etc which means failure. Since situation of non-conformance occurred‚ the company had a must to spend money or operate remediation to solve the quality problem. When we saw a condition that the company did something that he must
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by content Unit No 1 2 3 4 6 7 8 9 10 3. 6 6 10 10 Mark Unit Sub-Units Introduction Consumer Equilibrium and Demand Producer Behaviour and Supply Forms of Market and Price determination National income and related aggregates Money and Banking Determination of Income and employment Government Budget and the economy Balance of Payment Total Marks 4 18 18 10 15 8 12 8 7 100 Difficulty level of the question paper Level A. Easy (Can be attempted satisfactorily
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Introduction In this study we are analyzing the number of hospital beds per 1k population in Florida and trying to come up with some interesting findings which will help com-paring Florida with rest of the US and if possible will lead to a predictive model showing how different driving factors are related with the number of hospital beds per 1k population in Florida. Summary Statistics and Explanation • Number of hospital beds per 1k population has been calculated taking the ratio of Total number of
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Sleep of Reason Produces Monsters- The Infinite Conflict of Reason In his painting titled “The Sleep of Reason Produces Monsters‚” Francisco de Goya illustrates a horrific image of a man sleeping while being attacked by “monsters” as a product of his failure to create. Yet Goya ‘s depiction does more than merely tell a story. When analyzed in the historical context‚ the painting beckons and outlines much of the rhetoric of the enlightenment period - that human reason will produce progress. If
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GDP Consumption •Personal (household) Consumption Expenditure (C) –Durable consumer goods –Non-durable consumer goods –Services Investment •Gross Private (Domestic) Investment (I) •Final purchases of machinery‚ equipment and tools •All building and construction •Private—Not government •Domestic—Not foreign •Does not include financial investment or transfer of paper assets‚ e.g. buying of shares Gross Private (Domestic) Investment (I) •Two components: •Fixed investment expenditures
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The Challenges of Price Escalation Introduction One of the biggest challenges of the marketing mix of an international firm is pricing a product. On the contraire to the other elements of the marketing mix: product‚ placement‚ and promotion (whereas are considered a cost to the firm) pricing is the one element that produces revenues. Thus pricing is the key element to succeed or fail expansion efforts (Global Market Today). At the time of selecting the
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