elasticity of demand Inelastic demand curve will be less than 1 Inelastic demand curve will be less than 1 Elastic demand curve will be greater than 1 Elastic demand curve or Kinked demand curve will be greater than 1 Is there a presence of economic profits? No Yes Yes Yes Introduction: Printing is one of the most highly competitive industries in America today there are literally thousands of printers in the United States‚ they range from a small mom and pop operation to multinational
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Michael Jordan to become the NBA’s all-time playoff scoring leader‚ and the first player to average a triple-double in NBA Finals history. I believe LeBron James is a transformational leader; he brings optimism and greatness to the
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knew then we were on the brink...We easily could have had unemployment of 25 percent.” —Henry M. Paulson (former Treasury Secretary)‚ commenting on the state of the U.S. economy in 2008 hroughout this book‚ we have seen that many kinds of shocks can decrease an economy’s output in the short run. Examples include increases in taxes‚ decreases in consumer confidence‚ and increases in oil prices. However‚ one kind of shock is especially devastating to an economy: a financial crisis. Such a major disruption
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unemployment and GDP using AD-AS (5 marks) a) Inflation is the sustained overall or average increase in the price of goods and services over a period of time. With every rise in the price then each unit of currency buys fewer goods and services‚ which can also defined as “inflation reflects the reduction in the purchasing power per unit of money”. This increase in price or the decrease of purchasing power is measured by a price index called as the consumer price index. Inflation has a negative and a
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This paper will use Jack Ma as an example of transformational leader to analyze his leader behavior and effects under the framework of transformational leadership‚ during the analysis‚ both bright and dark sides will be discussed. Conclusion will be drawn after a discussion about Jack Ma’s transformational leadership effectiveness and leader’s effects on the followers‚ organization and
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Introduction THE NATIONAL INCOME One of the basic questions facing economics centers on whether the total output of goods and services is growing from year to year or it remains static. This question is very important because countries are keenly interested in the performance of their economy. National income estimates enable countries to calculate the total production of goods and services in a year. The lecture also focuses on the measurement of national income and their problems‚ uses
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ECONOMICS CHAPTER 1- INTRODUCTION TO ECONOMICS ● Assumed 3 decision makers- consumers (households) – that sell land‚ labour‚ capital & entrepreneurship and firms- that pay rent‚ wages‚ interest and profits (rewards for above factors of production ) firms then use the factors to produce G/S in return for payment from consumer. Govt imposes taxes on individuals and (income tax) and firms (corporate tax) to provide infrastructure and other services to community ● Econon’s 2 basic assumptions
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TRANSACTIONAL VS TRANSFORMATIONAL LEADERSHIP The concept of transformational leadership‚ which is a constituent of Bass and Avolio’s “full range leadership theory”‚ is one in hundreds of the most world-wide researched paradigms in the fields of leadership and have showed material accuracy for assigning probability to a number of outcomes including leader performance and productiveness rating in addition to follower gratification and stimulation. Transformational leaders act as advisers to their
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1. Explain economics? Economics is the study of how society allocates scarce resources and goods. Resources are the inputs that society uses to produce output‚ called goods. Resources include inputs such as labor‚ capital‚ and land. Goods include products such as food‚ clothing‚ and housing as well as services such as those provided by barbers‚ doctors‚ and police officers. These resources and goods maybe be considered scarce because of society’s tendency to demand more resources and goods than
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for Transformational Leadership In 1985‚ the industrial psychologist Bernard Bass identified and wrote about four basic elements that underlie transformational leadership which is known as 4I model: 1. Idealized Influence(II) 2. Inspirational Motivation (IM) 3. Intellectual Stimulation (IS) 4. Individualized Consideration (IC) Idealized Influence (II) Transformational leaders play-act as role models and exhibit a magnetic personality that shape others to want to become more like the leader Idealized
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