“If we were to look over the whole world to fine out the country most richly endowed with all the wealth‚ power and beauty that nature can bestow-in some parts a very paradise on earth-I should point to India”. ~ Max Mueller What Max Mueller said is indeed true. Crowned by the Himalayas on top and vast seas surrounding its peninsula‚ India is quite distinct on the world map. The Himalayas enveloped all the beauty with in itself‚ giving rise to the mighty rivers-Indus‚ Ganga and Yamuna and their
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Yes‚ experience counts a lot during disasters‚ but India can’t afford to adopt unscientific disaster management modules to minimise impacts of repeated natural calamities. For a couple of days‚ flood victims in Bihar had no clue what to do‚ and more importantly what not to do. Meaning of disaster management Disaster Management : disaster management) is the discipline of dealing with and avoiding risks. It is a discipline that involves preparing‚ supporting‚ and rebuilding society when natural or human-made
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information. People can find just about anything on the Internet with the click of just a few buttons. File sharing was introduced in the late 70’s and since then‚ has continued to grow. It boomed in the 90’s with the introduction of mp3 files. There are millions of people who use file sharing in legal ways. However‚ that number is masked by the amount of people who abuse the concept of file sharing and downloaded copyrighted material such as music or movies. This topic is very controversial in today’s
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Local Revenue Sharing and Competitive Balance Problem Statement Your textbook shows the conditions that lead to increased competitive balance with an increase in local revenue sharing. Data exist on competitive balance and local revenue sharing so you can examine this for yourself. New local revenue sharing plans were put in place in MLB for the 1995 season and another increase in revenue sharing was in place for the 2001 season. These changes create a "natural experiment" for analyzing the
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Opportunity cost Have you ever been in the situation deciding which cloth to buy? Have you ever facing the dilemma of to study or to play? Have you ever consider as a seller and choose to lower the price or raise it? In the field of economics‚ here’s a solution for you. The magic word is “opportunity cost”. Opportunity cost in terms of economy is the highest-value alternative one has to give up to engage in an activity. In other words‚ using the same resources such as money and time‚ the best
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Opportunity Cost Scarcity of resources is one of the more basic concepts of economics. Scarcity necessitates trade-offs‚ and trade-offs result in an opportunity cost. While the cost of a good or service often is thought of in monetary terms‚ the opportunity cost of a decision is based on what must be given up (the next best alternative) as a result of the decision. Any decision that involves a choice between two or more options has an opportunity cost. Opportunity cost contrasts to accounting
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Banning File Sharing Sites In an article found in Just do IP (Issue 42‚ August 25‚ 2000) Talal Shamoon states‚ "People are copying music because they feel somewhat disenfranchised with the options they have at their disposal in the digital space. It’s up to the content industry to create value in the digital arena and they’ve made phenomenal steps in that direction." District Judge Marilyn Hall Patel ruled in favor of the Recording Industry Association of America (http://www.riaa.com/) (RIAA)
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In microeconomic theory‚ the opportunity cost of a choice is the value of the best alternative forgone‚ in a situation in which a choice needs to be made between several mutually exclusive alternatives given limited resources. Assuming the best choice is made‚ it is the "cost" incurred by not enjoying the benefit that would be had by taking the second best choice available.[1] The New Oxford American Dictionary defines it as "the loss of potential gain from other alternatives when one alternative
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Class Serial No- 4. Economics Assignment- Opportunity Cost Lets start with a small introduction to the topic Opportunity Cost. Opportunity cost is the cost of any activity measured in terms of the value of the next best alternative forgone (that is not chosen). It is the sacrifice related to the second best choice available to someone‚ or group‚ who has picked among several mutually exclusive choices. The opportunity cost is also the "cost" (as a lost benefit) of the forgone products
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is one of the more basic concepts of economics. Scarcity needs trade-offs‚ and trade-offs result in an opportunity cost. While the cost of a good or service often is thought of in monetary terms‚ the opportunity cost of a decision is based on what must be given up as a result of the decision. Any decision that involves a choice between two or more options has an opportunity cost. Opportunity cost‚ scarcity and trade-off are important in our daily life because it affects us every day in different ways
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