CIRCULAR FLOW OF INCOME The Circular Flow of Income‚ expenditure and output is a model of the economy which shows the movement of goods and services between households and firms and their corresponding payments in money terms Money circulates from households to firms and back again. The more a households spend and the more firms produce‚ the higher the levels of income. Income + output in economy should always be same and are measured by GDP. Circular Flow emphasizes importance of interactions
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TSMC Company establishes an imprest petty cash fund by issuing a check for $200 to Mary Mann‚ the custodian of the petty cash fund. On October 31‚ 2008‚ Mary Mann submitted the following paid petty cash receipts for replenishment of the petty cash fund when there is $55 cash in the fund: Freight-in $27 Office Supplies Expense 35 Entertainment of Clients 60 Postage Expense 20 Instructions Prepare the journal entries required to establish the petty cash fund on October 1 and the replenishment
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THE THEORY OF THE FIRM Notes by:Ramon Somar THE THEORY OF THE FIRM Even though managerial economics is not concerned solely with the management of business firms‚ this is its principal field of application. To apply managerial economics to business management‚ we need a theory of the firm‚ a theory indicating how firms behave and what their goals are. The concept of the firm plays a central role in the theory and practice of managerial economics. An understanding of the reason for the existence
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FLOW CHART A flowchart is a type of diagram that represents an algorithm or process‚ showing the steps as boxes of various kinds‚ and their order by connecting them with arrows. This diagrammatic representation illustrates a solution to a given problem. Process operations are represented in these boxes‚ and arrows; rather‚ they are implied by the sequencing of operations. Flowcharts are used in analyzing‚ designing‚ documenting or managing a process or program in various fields. Symbol | Name
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Introduction When All Was Green by The Key Theatre was showcased at Esplanade Recital Studio as part of the Octoburst! Festival for children. The play revolves around the interactions between a boy and a tree and‚ showed the tree as a great support system for the boy since he was young. However‚ due to modernization‚ not only was the environment at stake‚ but also the deeds of the tree were forgotten by the boy. The play aimed to engage children on the importance of the environment through the relationship
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using religious teachings it is easy� to see that God thinks all human life equal regardless of race�‚ gender or disability and encourages all his ’sheep’ (followers of his‚ who he regards not as servants but as friends) to do so as well. This is proven in 1st Corinthians 7 18- 20 where it is said‚ ’Was a man already circumcised when he was called? He should not become uncircumcised. Was a man uncircumcised when he was called? He should not be circumcised. Circumcision is nothing and uncircumcision
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How ought one to go about evaluating a work of art? The first thing I learned as an art major at St. Johns was how to evaluate a work of art or one that was in progress‚ often times it was a piece we got to pick at the Met or the Momma. Sometimes it was our classmate’s work that we had to critique and evaluate. It was this process that drove me away from the Art department. There was too much nit picking and it got to be a pain in the ass to sit there and listen to some power hungry professor ripping
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RITCHELL S. GALAS TITLE: GUIDELINES ON THE FORMULATION OF QUESTIONS INTRODUCTION All rules regarding the formulation of questionnaire questions – no matter who has created them and where they are to be found – have one crucial disadvantage: they only have limited use. Of course‚ they are more or less suitable as “general guides” which can point you in a general direction‚ but their importance usually diminishes when it comes to formulating specific questions for specific questionnaires. It is then
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book is being recommended for background reading. PAPER 2. (Literature in English) DRAMA : As You Like It : Shakespeare (edited by Roma Gill‚ Oxford University Press) OR Loyalties : John Galsworthy (edited by G.R. Hunter) PROSE: At least one of the following: (i) A Treasure Trove of Short Stories: Compiled and Edited by S. Chakravarthi (Frank Bros. & Co.) 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. An Astrologer’s Day : R.K. Narayan Dust : ‘Saki’ (HH Munro) The Postmaster : Rabindranath Tagore
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in The Star newspaper on Friday‚ 26th October. The story is about a condominium project that is going to be developed in close vicinity to Batu Caves. The project‚ if allowed to be carried out‚ can potentially cause the historical site to cave in much sooner than expected as the development may accelerate the limestone massif’s natural erosion process. The developer‚ Dolomite Industries‚ has been ordered to stop all construction-related works by the state government in order for soil testing to
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