3.1 I would like to make the example as China economy in order to analyze how the structure of an economy has changed in the 21st century. To a variety of industries around the world is divided into three categories: primary industry‚ secondary industry and tertiary industry. Primary industry refers to the provision of production industries‚ including forestry‚ farming‚ aquaculture‚ animal husbandry and other natural objects as objects directly in the production sector. The second refers to industrial
Premium Economics Monetary policy Inflation
Answers of Managerial Economics Homework #2 Chapter 5~Chapter 9 1.Using figure 5.3 as a basis‚ construct a series of four figures to show the effect of an increase in the demand for tanker service on the market price when (a) demand is extremely inelastic‚ (b) demand is extremely elastic‚ (c) supply is extremely inelastic‚ and (d) supply is extremely elastic. Answer: [pic] [pic] [pic] [pic] 2.Industry researchers R.S. Platou predicted
Premium Supply and demand Costs Microeconomics
[pic] Contents |PART I PLANET EARTH | |Chapter 1 Fundamentals of chemistry | | |The scientific method |1 | |Kinetic theory of matter
Free Atom Electron Electric charge
Microeconomics Homework Problem 1: C(Q) = 100 + 20Q + 15Q^2 + 10Q^3 a) Fixed Cost (doesn’t change depending on output produced) = 100 b) Variable Cost of producing Q = 10 units: 20*10 + 15*10^2 + 10*10^3 = 200 + 1‚500 + 10‚000 = 11‚700 c) Total Cost of producing Q = 10 units: C(10) = 100 + 20*10 + 15*10^2 + 10*10^3 = 11‚800 Alternatively‚ we have Total Costs of Producing Q=10 units = Fixed Costs + Variable Costs of producing Q = 10 units = 100 + 11‚700 = 11‚800 d)
Premium Costs Marginal cost Variable cost
Question 1 1. Consumption spending is $4.5 billion‚ gross private domestic investment is $3 billion‚ and government expenditures are $2 billion. If GDP is $14 billion‚ which of the following could be true regarding exports and imports in the economy? Answer Exports are $6 billion‚ and imports are $8.5 billion. Exports are $15 billion‚ and imports are $10.5 billion. Exports are $4.5 billion‚ and imports are $2 billion. Exports are $9 billion‚ and imports are $6 billion. 10
Free Gross domestic product
Seminar 2 Topics Covered: Heckscher-Ohlin Model Part I and II 1. This exercise uses the Heckscher-Ohlin model to predict the direction of trade. Consider the production of hand-made rugs and assembly line robots in Canada and India. Problem 1 Answer a) Which country would you expect to be relatively labor-abundant? Capital-abundant? Why? Labor-abundant: India. Capital-abundant: Canada b) Which industry would you expect to be relatively labor-intensive? Capital-intensive? Why? Handmade
Premium Economics International trade Microeconomics
Harris ECN 3000 Homework #1 Please show your work and answers to all parts on separate paper. It will probably be in your best interest to keep this sheet and make a copy of your answers since I may not return your graded homework before the test. Use the following information to answer questions 1-13 below. Two countries‚ Athens and Troy‚ produce two goods‚ ships and food‚ according to the following production functions: 1 ship = 4 capital + 2 labor 1 food = 1 capital + 3 labor. Athens
Premium Trade Question Commerce
1. Determining changes in equilibrium price and quantity for a perfectly competitive industry given changes in demand and/or supply (Ch. 2‚ p. 60-65; Class Notes) A. Graphical analysis given demand and supply curves (a) While there is increased awareness of Vitamin C available from orange juice‚ a hard‚ freezing winter occurs in most of the orange producing areas. Demand increases while supply decreases. (b) While the technology used for tobacco production is improving‚ there is increased
Premium Supply and demand Economics Perfect competition
1 INTRODUCTION 1.1 Definition of economics Economics is a social science‚ positive as well as normative‚ divided into microeconomics and macroeconomics‚ concerned with how society allocates limited factor inputs to produce goods and services to satisfy unlimited human wants. 1.2 Economics as a social science A social science is the study of a particular aspect of human behaviour using the scientific method. Examples of social sciences are economics‚ sociology and
Premium Economics
The article discusses China’s growth in these recent years. It forecasts that China’s growth is not sustainable; thus growth rate will cease next year because the country is operating at full potential‚ facing the risk of overcapacity. In addition‚ China now has to face the severest national debt in its history‚ which puts its economy in extremely vulnerable state. The author also argues that China should stop relying on strong fiscal policy‚ but to initiate an economic reform if it wants to keep
Premium Macroeconomics Inflation Monetary policy