Perfect competition A perfectly competitive market is a hypothetical market where competition is at its greatest possible level. Neo-classical economists argued that perfect competition would produce the best possible outcomes for consumers‚ and society. Ex:- Wheat‚ rice Key characteristics Perfectly competitive markets exhibit the following characteristics: 1. There is perfect knowledge‚ with no information failure or time lags. Knowledge is freely available to all participants‚ which means
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THE EFFECT OF GLOBAL WARMING Introduction One of the most agent controversial topics that are discussed in the world is global warming. Global warming and its effects are real and various scientists unlock the past mysteries and analyze today’s activities‚ they issue warnings that the future generations will be in jeopardy. Overwhelming evidence that the world’s climate is changing due to various human activities exists. Since the industrial revolution‚ various human activities such as agriculture
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Topic 1 Global Warming and the Green Movement Executive summary Base on the understanding of global warming and through the terrible experience of living environment that we have already known human is the chief culprit. It is an international issue and everyone has the responsibility to protect our earth. In this assignment‚ we will discuss how does global warming happen and explain how to remedy it. Introduction What is global warming? "Global Warming is the increase
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Because the start of mining and beginning of cash crops‚ they needed to import slaves. This created the Triangle Trade‚ and therefore brought much wealth to Western Europe. There was a large silver inflation because of the mining‚ and Spain and Portugal became extremely wealthy. Though the effect of the silver inflation was largest in Western Europe‚ it had effects across the world. At the beginning of the time period (600 - 1750 C.E.) Western Europe had little trade at all‚ let alone with the new
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Silver can be consider as one of the most all-around metals reachable. Indeed silver is a white‚ shiny and soft metal which is often found in its natural form as a mixture with other minerals and metals. Thanks to its properties‚ silver can be consider as a multi-function produce because it can be used in the industrial sector and also as an asset. Indeed‚ silver has a monetary value when paper money is no longer of value. For example‚ in period of inflation or deflation‚ the value of silver can
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TABE- 122SIS28 TOPIC COPORATE SOCIAL RESPONSIBILITY (CSR) IN ZIMBABWE VS THE GLOBAL EXPECTATIONS Considering the rough economic environment in the country one might wonder how businesses can balance between making sure that they survive and responding to social concerns. Zimbabwean businesses in general accept that they have a responsibility to plough back into the society but not all of them have been committing themselves to solving the social and environmental problems that arise in
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1. Distinguish between Micro economics and Macro economics. Microeconomics may be defined as that branch of economic analysis‚ which studies the economic behavior of the individual unit‚ maybe a person‚ a particular household‚ or a particular firm. It is a study of one particular unit rather than all the units combined together. In microeconomics‚ we study the various units of the economy‚ how they function and how they reach their equilibrium. An important tool used in that of microeconomics is
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Unit 3‚ Area of Study 1 Global Actors Key Terms Nation Definition * A nation is a group of people connected by a distinguishing common social feature‚ such as language or religion. A nation does not necessarily have a form of government or geographic borders. Further explanation and example * Some nations have their own state‚ such as China‚ while others‚ such as Tibet‚ form a nation through a common cultural characteristic‚ without having a state. Key example * Nations
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GLOBAL ECONOMIES Global Economies: The New Paradigm of Trans-Global Industry and Commerce Submitted in Partial Fulfillment of the Degree of PhD in International Business and Program Management 1 Kelly Eugene Higgins I.D.: UD17818BIN25641 Atlantic International University‚ Honolulu‚ HI 8 June 2013 GLOBAL ECONOMIES Part 1 Reflection Despite the attempted global empires that have existed and flourished to greater or lesser extents throughout the history of human civilization‚ the
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Semester I Revised June 2012 Revised Business Economics I Syllabus for F.Y.B.Com from June 2012 onwards University of Mumbai Semester I Module I: Demand analysis Demand function and determinants of demand – Concept and importance of Elasticity of demand‚ Income‚ cross‚ promotional. Case studiesConsumer surplus‚ Demand forecasting: meaning significance and methods-case studies Module II Theory of production and cost Production function-short run and long run- Law of variable proportions- Isoquantproducers’
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