Economics 247 Assignment 1 Version A This assignment has a maximum total of 100 marks and is worth 10% of your total grade for this course. You should complete it after completing your course work for Units 1 through 5. Answer each question clearly and concisely. 1. a. 3/3Define opportunity cost‚ and explain its importance in economics. (3 marks) -The opportunity cost of something is what you must give up of one thing‚ in order to get it. Opportunity cost is a key concept of
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"A cadet will not lie‚ cheat or steal." Why were the colonies established? Colonies were established cause of various reasons.The most important reasons of colonization were religion‚ economics‚ and government. The 13 colonies were based on land grant lines given to various nobles and wealthy people or groups by the English royalty.The original thirteen colonies were Connecticut‚ Delaware‚ Georgia‚ Maryland‚ Massachusetts‚ New Hampshire‚ New Jersey‚ New York‚ North Carolina‚ South Carolina
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$117.99 per barrel. (Source US Energy Information Administration) Economics is the study of using resources in a productive manner and to allocate them in the best possible way. Economics is concerned with the production and consumption of goods and the transfer of money to create and get those goods. Economics tells us how people in the markets communicate in order to achieve what they desire and fulfill their goals. Economics deals with studying the wants and desires of people resulting in creating
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up economically as we made business alliances with other markets‚ and we rode up politically as we have been successful in battles and wars. Our motives for invading and expanding are examined as we examine our successes throughout the New Era and the World Wars. America had wanted to expand outward and was imperializing surrounding countries for economic and political domination. There were three major terms of U.S. foreign relations. The first is the Monroe Doctrine of 1823‚ which expanded hemispheric
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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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project looks at the procedures involved in acquiring fixed assets and the disposal of fixed. It also uses accounting ratios to analyze the workings of the company and to make a fair judgment of whether the organization has been effective or not in its acquiring‚ disposal and maintenance of fixed assets. The authors selected DEM COLLECTIVE LANKA as its case study company and it is their accounts that were used in this project. KEY WORDS: depreciation‚ acquiring‚ disposal‚ accounting ratios TABLE
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sManBal1e_CH19 02/09/10 5:36 PM Page 537 CHAPTER 19 Financial Crises There was a time when the credit markets had essentially frozen and when blue chip industrial companies were having trouble raising money. I 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
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1. Discuss the European motives for expansion and colonization in the New World. There are many reasons that contributed to the expansion and colonization by Europeans into the New World. Europeans believed the New World a place to practice religion without religious persecution‚ a place to find plentiful resources and a place to start new. Many Europeans felt that they could colonize the New World without fear of religious persecution due to English and European Reformations. Protestant Reformation
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both inflation and unemployment in general as stated in previous studies and some economic theories that deal with these problems and their impact on GDP . According to jordan economy profile in mundi index‚ Jordan’s economy is among the smallest in the Middle East‚ with insufficient supplies of water‚ oil‚ and other natural resources‚ underlying the government’s heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of poverty‚ unemployment
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1. What do you understand by Managerial Economics? Give Definition and meaning of Managerial Economics. Economics is the branch of Knowledge that deals with how the scarce resources can be used to produce valuable goods and services and distribute them efficiently among different classes of people in the society. What is Managerial Economics? Douglas - “Managerial economics is the application of economic principles and methodologies to the decision-making process within the firm or organization
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