EC137 Economics Coursework Based on Principles of Microeconomics (Lecturer: Ger Turley) Assignment 2 Instructions: To be submitted by 4pm on Friday‚ 18th of October to the Economics Department‚ 1st floor of St. Anthony’s building (old part of the CAIRNES School of Business and Economics building) on the Upper Newcastle Road (located on the right-hand side‚ beyond the Topaz garage and crossroads). Please ensure that your name‚ student ID‚ tutorial details (day‚ time‚ venue)‚ degree programme
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ECONOMICS the branch of knowledge concerned with the production‚ consumption‚ and transfer of wealth. the social science that studies economic activity to gain an understanding of the processes that govern the production‚ distribution and consumption of goods and services in an exchange economy. SCARCITY: THE NEED TO CHOOSE Scarcity is the fundamental economic problem of having seemingly unlimited human wants in a world of limited resources. It states that society has insufficient productive
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1. Below is a list of topics in usually studied in economics. Determine whether each topic deals under the area of microeconomics or macroeconomics. a. How Bangko Sentral ng Pilipinas influences the consumer spending in the Philippines. b. How a household decides what LPG brand to buy. c. How a firm decides whether to continue business or shutdown. d. How debt affects the income gap among Filipinos. e. How new parents decide whether to work or stay at home with their children. f. How the
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Geography’s effect on the English colonies is indisputable‚ but was it the primary factor for shaping the colonies? I think it is‚ whether it was good or bad the geography always played an important part in the lives of the English colonist. From the swampy terrain of Jamestown to the bays of the Northern colonies‚ each played an integral part in the development of the colonies. I’ll start with Jamestown‚ one of the first colonies to make it. The beginning of Jamestown was almost it’s end‚ the
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Cassandra Wilson The Colonial Period (1607–1775) • 1642 • Massachusetts Bay Colony law requires proper teaching of children. In 1642‚ the Mass Bay Colony ruled children not taught properly would be apprenticed (practical work experience under the supervision of skilled workers in the trade and arts) to the town. The Early National Period (1775–1820) • 1805 • First elementary school established in New York‚ Formed by a wealthy businessmen to provide education for poor children. Run on the
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Title: Ant colony optimization techniques for the vehicle routing problemAuthor: John E. Bell‚ Patrick R. McMullenYear: 2004 | Representation: finding the minimum distance or cost of the combined routes of a number of vehicles m that must service a number of customers n.Fitness Function: * Each customer is visited only once by a single vehicle. * Each vehicle must start and end its route at the depot‚ v0. * Total demand serviced by each vehicle cannot exceed Q.Performance:Ant colony optimization
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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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Assume a consumption function that takes on the following algebraic form: C = $100 + .8Y. Assume that Y = $1000 what is the level of consumption at this income level. C = $100 + .8($1000) = $100 + $800 = $900. 1. Using the above figure calculate the marginal propensity to consume between the aggregate income levels of $80 and $100. Also explain why this consumption function is linear. The marginal propensity to consume is equal to $15/$20 = .75. The consumption
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same whereabouts‚ the two poles of the colonies‚ north and south‚ developed two distinct societies. For example‚ in the New England area the settlers developed an egalitarian‚ unified‚ and organized atmosphere‚ while in the Chesapeake region residents created an aristocratic‚ unloyal‚ and scattered environment. But‚ if they are of the same origin‚ how did they develop such divergent societies? This difference was a result of opposite immigration and settlement patterns‚ and motives. Immigration patterns
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gave the Greeks access to those agriculture riches of Campania. Campania was a fertile plain‚ crossed by two major rivers and had soil rich in phosphorus and potash. They settled there for trade‚ investment of resources‚ and relief from population growth and drought. But during the 700 b.c Greeks established colonies in southern Italy‚ Egypt‚ Sicily‚ and even the Middle East. With having colonies in the Middle East and Egypt‚ it made trade routes to major civilizations a lot easier and quicker.
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