ECON 1. (Demand Under Perfect Competition) what type of demand curve does a perfectly competitive firm face? Why? A horizontal or a perfectly elastic‚ demand curve. A perfectly competitive firm is called a price taker because that firm must “take‚” or accept‚ the market price- as in “take it or leave it.” 2. Explain the different options a firm has to minimize losses in the short run. A firm in perfect competition has no control over the market place. Sometimes that price may be so low
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The principles‚ applications and communication of teaching and learning theories In teaching cycle there are many different factors contribute to the final outcome‚ one of the factor is student learning which contributes the most to our teaching strategies. To get the best outcome‚ we have to apply the teaching strategies that suits our group profile the best‚ and in order to do that we need to know how student learn. Educational psychology is one of the principle foundations for our preparation
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behaviourist and cognitive approaches to consumer learning theory and discuss the implications of these theories for marketing practice’ Learning is one of the major determinants of human behavior. Psychologists are of the opinion that all human behavior involves some form of learning. Human beings are not born with the knowledge or skills that could be used as guidelines of how to behave for their daily life. Knowledge or skills are obtained from learning. Learning is an unconscious activity that occurs frequently
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Strengths‚ Limitations and Social Work Every theory has strengths and limitations‚ which can be beneficial to understanding behaviour as well as leaving gaps in knowledge as not every theory can explain every facet of human behaviour and understanding this is a key part of social work practice. The social work profession is guided by the AASW Practice Standards‚ which aim to provide a guide to practice‚ collective standards and expectations and can be used as a platform for ongoing professional
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Unit 504 TASK C REFLECTIVE ACCOUNT In my teaching I employ principles of learning in the following four areas: lesson planning‚ lesson structure‚ meeting learners’ needs and assessing learning. I like to do and use my session plan as it serves as a guide and makes me feel confident. I will set ground rules for standards of acceptable behavior. In communication theory‚ a linear style of transmission is used to communicate ground rules to my learners‚ although a circular model is used in developing/agreeing
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This is shown in the article “What is The Great Gatsby Curve?” by David Vandivier when he talks about the Great Gatsby Curve and predictions for success and wealth for people in America. In the article it talks about how the rich have more of an advantage and opportunities than the poor‚ but just because they have more resources and advantages doesn’t mean that poor people can’t obtain wealth. There are many things out there to help the poor and middle
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Explain how production possibility curves can be used to demonstrate the problem of unemployment‚ effects of technological change and the benefits of economic growth. Human wants are unlimited and resources are scarce. In order to satisfy these wants‚ all societies face the problem of allocating these scarce resources to producing the wanted products. These decisions greatly affect the economy and will contribute to the movements of growth. A graph that visually represents the results of the decisions
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1. Economies of Scale. If the firms produces in an industry with very high fixed costs‚ consumers can benefit from a large firm which can exploit economies of scale. Economies of scale lead to lower long run average costs and therefore give the potential of lower prices. Example: Would you want several firms providing tap water? Would it make sense to have 2-3 companies laying a network of water pipes and sewage systems across the country? No. It is better to have 1 firm. This is an example of
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Describe and evaluate the learning theory for attachments. The learning theory suggests that we are born with a blank slate which means everyone starts off exactly the same‚ and then we learn all of our behaviours once we are born. The learning theory is split into two areas‚ Operant and Classical conditioning. Operant conditioning is one part of the learning theory to describe attachments. This states that attachments are formed through positive and negative reinforcements. An example of positive
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Critic on Albert Bandura’s Social Learning Theory By: Genevie-An Ortega Suico Albert Bandura is the leading proponent of the Social Learning Theory . This theory focuses on the importance of observational learning‚ imitation and modeling. According to Bandura (1977)‚ learning would be exceedingly laborious‚ not to mention hazardous‚ if people had to rely solely on the effects of their own actions to inform them what to do. Fortunately‚ most human behavior is learned observationally through
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