Dreams and What They Mean Psychologists seem to fall into two groups regarding dreams. The first group believes that dreams have no real purpose; while the second group believes they do have a purpose‚ although this group cannot reach a consensus on what the purpose might be. Sigmund Freud is probably the most famous of the dream theorists. He believed that dreams helped to preserve sleep by keeping individuals from waking as a result of physical urges such as needing to go to the bathroom
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into and out of a country resulting from transactions relating to savings investments and speculations. Economic Growth An increase in the capacity of an economy to produce goods and services‚ compared from one period of time to another. Economic growth can be measured in nominal terms‚ which include inflation‚ or in real terms‚ which are adjusted for inflation. Economics growth refers to an increase in the real GDP or GNP per capita in a country in a given period of time. It can
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Economics Basics: Elasticity The degree to which a demand or supply curve reacts to a change in price is the curve’s elasticity. Elasticity varies among products because some products may be more essential to the consumer. Products that are necessities are more insensitive to price changes because consumers would continue buying these products despite price increases. Conversely‚ a price increase of a good or service that is considered less of a necessity will deter more consumers because the opportunity
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the supplier would supply more to further increase profits. Price and quantity exchanged in the market is a bit more complex than the previous statement . We will start off the analysis by looking at the law of supply. The law of supply is a basic economic principle that states firms are willing to supply larger quantities at higher prices. In retrospect‚ they will supply lesser quantities at lower prices. Supply is illustrated by an upward-sloping line due to this concept. *Insert supply schedule
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following identify which of the economic principle(s) (see below) is at work. a. You pick the shortest line at the store checkout. g. People respond to incentives. b. The price of new textbooks increased so you buy the used textbook. e. Markets are a good way to organize economic activity. c. You decide to watch the Olympics rather than study for this test. b. The cost of something is what you must give up to get it. d. You help your friend with economics‚ he helps you with philosophy. d
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What is Water Scarcity? Simply put‚ water scarcity is either the lack of enough water (quantity) or lack of access to safe water (quality) Water covers 70% of our planet‚ and it is easy to think that it will always be plentiful. However‚ freshwater—the stuff we drink‚ bathe in‚ irrigate our farm fields with—is incredibly rare. Only 3% of the world’s water is fresh water‚ and two-thirds of that is tucked away in frozen glaciers or otherwise The problem of water scarity is a growing one. As more people
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Benjamin Graham is known to have grown the seeds of investment in America’s Wall Street. Graham was a great economist who introduced the present day security analysis. Being the founder of value investing Graham paved the way for a new era of economical strategy setting and planning which were carried forward by his students like Warren Buffett‚ Mario Gabelli‚ John Neff‚ Michael Price‚ and John Bogle and many others. Graham’s books ’Security Analysis’ and ’The Intelligent Investor’ are regarded as
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Economic problems. The economic problem‚ sometimes called the basic‚ central or fundamental economic problem‚ is one of the fundamental economic theories in the operation of any economy. It asserts that there is scarcity‚ or that the finite resources available are insufficient to satisfy all human wants and needs. The problem then becomes how to determine what is to be produced and how the factors of production (such as capital and labor) are to be allocated. Economics revolves around methods and
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Economics questions Top of Form [pic][pic][pic] 1. Scarcity: [pic]A) exists because resources are unlimited while human wants are limited. [pic]B) means we are unable to have as much as we would like to have. [pic]C) will likely be eliminated as technology continues to expand. [pic]D) is not an issue addressed in economics. 2. Which of the following is true of resources? [pic]A) Resources are inputs used to produce goods and services. [pic]B) Labor is the mental and physical capacity
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Basic economic ideas Scarcity‚ choice and resource allocation – Meaning of scarcity and the inevitability of choices at all levels (individual‚ firms‚ governments) – Opportunity cost – Basic questions of what will be produced‚ how and for whom Unlimited Wants Human beings‚ in order to survive need a lot of things. Some of these things are very important for our existence. For example‚ food‚ clothing‚ water‚ shelter and air. These things can be classified as Needs. Apart from this there are
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