I-4: Demand and Supply Practice Questions and Answers from Lesson I-4: Demand and Supply The following questions practice these skills: Describe when demand or supply increases (shifts right) or decreases (shifts left). Identify a competitive equilibrium of demand and supply. Describe the equilibrium shifts when demand or supply increases or decreases. Describe how prices or gross substitutes or gross complements shift demand. Describe how input costs or production costs shift supply
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Many hope and pray that their dream and wishes come true‚ some do and some don’t. Most of them don’t and nobody can admit failure. They blame their loss on other people or obstacles that they faced along the way. American was considered “The land of opportunity”‚ or “The Golden door”. Many new immigrants sailed to America because they heard it’s where dreams come true. The “American Dream” so to speak. The American dream was the opportunity for prosperity and success‚ and an upward social mobility
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The Phillips Curve and the Philippines According to Cristeta B. Bagsic‚ the Phillips Curve “depicts the trade-off between inflation and unemployment rate” (“The Phillips Curve and Inflation Forecasting: The Case of the Philippines”). Nowadays‚ the relationship depicted by the Phillips curve is specified in the following equation: πt = πe – γ(UR – UR*) + v where πt is the inflation rate‚ πe is the expected inflation‚ γ is a parameter‚ UR is the unemployment rate‚ UR* is the natural rate of unemployment
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focuses on providing value to the customer and also on the customer relationship. Some of the basic features of Services are: 1. Intangibility: Services are intangible which cannot be touched or viewed‚ so it is difficult for clients to tell in advance what they will be getting. For example‚ banks promote the sale of credit cards by emphasizing the advantages derived from possessing a credit card. 2. Inseparability:
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DIFFERENCE BETWEEN POISE AND POSTURE Posture and Poise Good Posture or Good Use? For many people‚ the Alexander Technique is closely associated with cultivating good posture. However the term posture is inadequate to convey what it is the Alexander Technique aims to improve. When it comes to posture‚ it is generally assumed that more uprightness is better and crooked is bad. There is relative truth in this. But striving for uprightness only brings about misuse in another guise: the straining
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Timeline. The History of Computers - Computer History Timeline. Retrieved January 5‚ 2014‚ from http://inventors.about.com/library/blcoindex.htm Cohen‚ R. (2013‚ August 23). What Steve Jobs Can Teach Us About Living In The Post PC Era. Forbes. Retrieved January 8‚ 2014‚ from http://www.forbes.com/sites/reuvencohen/2013/08/23/what-steve-jobs-can-teach-us-about-living-in-the-post-pc-era/ Dvorak‚ J. (2013‚ May 29). Life in the Post-PC Era. PCMAG. Retrieved January 8‚ 2014‚ from http://www.pcmag.com/article2/0
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page 93 • Law of Demand ▪ As price increases‚ the quantity of the product demanded decreases‚ and as price decreases‚ and the quantity demanded increases - an inverse relationship exists between the price and the quantity demanded. • Law of Supply ▪ As price increases‚ the quantity of a good or service a supplier is willing to offer will increase‚ and as price decreases‚ the quantity supplied will decrease – a direct relationship exists between price and quantity supplied
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Indian religion ritual. However‚ he is not allowed to participate in their rituals. This shows the cultural divide between him and the World State society because Bernard and Lenina see the tribal ritual as disgusting. John is rejected by the savage Indian culture and the civilized World State culture. John is a devoutly religious man. John believes in the soul. He’s concerned about what will happen to him after death. There would
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and Hofstede‚ 2005‚ 4). However‚ human beings are not programmed same way as the computers are‚ they have reflective ability and may deviate based on unforeseen event. More so‚ culture has strong impact on the way a person act on certain situation. Between 1994 and 2005 over half the U.S. work force was made up of minorities. Currently‚ one third of new immigrants to the U.S. are from Asia. Although these immigrants are classified broadly as “Asians‚” they include a melting pot of nationalities such
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PRINCIPLES OF ECONOMIC (DIFFERENCE BETWEEN MICROECONOMICS AND MACROECONOMICS) CERTIFICATE IN ESTATE AGENCY (CEA) HAFIFI BINTI HAMDAN 940113-10-5504 LECTURER: MRS. NORZIHA BINTI ISMAIL DIFFERENCE BETWEEN MICROECONOMICS AND MACROECONOMICS The study of economics is divided into microeconomics and macroeconomics by the modern economists. Both of them discuss the economic activities but are used in different sectors under different circumstances. In spite of having some similarities‚
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