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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1. Types of Drama a. Comedy When we talk about comedy‚ we usually refer to plays that are light in tone‚ and that typically have happy endings. The intent of a comedic play is to make the audience laugh. In modern theater‚ there are many different styles of comedy‚ ranging from realistic stories‚ where the humor is derived from real-life situations‚ to outrageous slapstick humor. Is designed to be entertaining and humorous where misfortune ends in triumph or happiness. It presents characters
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1.0 Introduction Although inflation is generally thought of as an inordinate increase in the general price level‚ throughout the history of economics the causes of inflation and the definition of inflation itself remained as an unresolved issue. There is a general agreement that‚ in the long-run‚ inflation is a monetary phenomenon. In short-run‚ however‚ many other factors could cause inflation that instigates unsettled debate on the causes of inflation. Every school of economists tries to define
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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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three or even five years. The basic process of planning a budget involves listing the business’s fixed and variable costs on a monthly basis and then deciding on an allocation of funds to reflect the business’s goals. Businesses often use special types of budgets to assess specific areas of operation. A cash flow budget‚ for instance‚ projects business’s cash inflows and outflows over a certain period of time. Its main use is to predict business’s ability to take in more cash than it pays out. The
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UNIVERSITY OF DELHI DELHI SCHOOL OF ECONOMICS DEPARTMENT OF ECONOMICS Minutes of Meeting Subject : Course : Date of Meeting: Venue : Convenor Attended by: 1. Basanti Kumari Nayak‚ Satyawati College 2. Supriti Mishra‚ Shyam Lal College 3. Chhavi Gautam‚ Kamla Nehru College 4. Lokendra Kumawat‚ Ramjas College 5. Rashmi Mittal‚ Dyal Singh College 6. Reetika Rana‚ Shivaji College 7. Punam Tyagi‚ Kalindi College 8. Aditi Aeron Bansal‚ Shaheed Bhagat Singh College 9. Vandana Sethi‚ Motilal Nehru College
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Types of Fallacy 1) Fallacy of Accident/ Fallacy of Sweeping Generalization - occurs when one reason with the generalization as if it has no exceptions. Examples: 1) Cutting people with a knife is a crime Surgeons cut people with knives Therefore‚ surgeons are criminals. 2) Birds can fly Penguins are birds Therefore‚ penguins can fly 3) Speeding up above 50 kph is a crime. Therefore‚ ambulance drivers are criminals. 2) Fallacy of Converse Accident - occurs when
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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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Philippines Economy To Survive Haiyan Despite a terrible human toll‚ Haiyan is unlikely to derail the nation’s impressive economic performance. By Anthony Fensom Asia’s “strong man” economy of the Philippines is considered tough enough to weather the effects of Typhoon Haiyan. Yet even after the deadliest typhoonin the nation’s recorded history‚ analysts have warned of potentially worse storms ahead. After making landfall on November 8‚ Haiyan (known as Yolanda in the Philippines) flattened dozens
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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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