NOMICS REVISONRevision Checklist for AS/A Level Economics 9708 Guide for Students REVISION CHECKLIST for AS Level Economics 9708 A guide for students How to use this guide The guide describes what you need to know about your AS Economics examination. It will help you to plan your revision programme and will explain what the examiners are looking for. The guide contains the following sections: Section 1 - How will you be tested? This section will give you information about the different
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Web Search Activity #1 1. What is finance? Finance is essentially any transaction where money or a money-like instrument is exchanged for money or a money-like instrument. (Lecture Notes) 2. What is a market? Name five types of markets in which you participate. What markets trade economic resources? Any organized effort where buyers and sellers freely exchange goods and services. Money Market‚ Stock Market‚ Flea Market‚ Real Estate Market‚ Retail Market. Labor Markets‚ Capital Market
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PowerPoint Lectures for CHAPTER 1 The Scope and Method of Economics Principles of Economics‚ 9e ; ; By Karl E. Case‚ Ray C. Fair & Sharon M. Oster © 2009 Pearson Education‚ Inc. Publishing as Prentice Hall Principles of Economics 9e by Case‚ Fair and Oster © 2009 Pearson Education‚ Inc. Publishing as Prentice Hall Principles of Economics 9e by Case‚ Fair and Oster CHAPTER 1 The Scope and Method of Economics PART I INTRODUCTION TO ECONOMICS The Scope and Method of Economics
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scarcity‚ we have to make choices - When we make an economic choice‚ an alternative is given up We try to build models in Economics that explain how the world works. The model tends to simplify the real world so we can study how it works. Ceteris paribus - all other things being equal. when we have a model we change one variable‚ and leave the rest unchanged. Positive and Negative Economics - A positive statement is oce based on facts that can be verified. - A normative statement is something
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1. Which of the following characterizes the U.S. trade balance since the mid-1970s? a. The U.S. trade balance has been in deficit. b. The value of imports has exceeded the value of exports. c. Trading partners have sold more to the United States than the United States has sold to them. d. All of the above. 2. If we add together all the gains from specialization and trade and then subtract all the losses‚ the net result would be: a. Zero; the gains and losses would cancel out.
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Leadership‚ Differentiation and Focus. It is Porter’s view that any company that positions itself in at least one of these categories or striving to achieve one of these strategies should be able to attain and maintain competitive advantage‚ ceteris paribus. Nike Inc. has enjoyed a great deal of success in the Global Sports and Clothing Industry. One may even go as far to say it is the “cream of the crop” or “a cut above the rest”. One may also wonder if any of Porter’s strategies can be applied
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it)‚ if we take into the consideration that SRGA took only 3 percents of other Schweppes Ginger Ales. (See tables 1.a and 1.b) But taking into account the forecast of increasing sales of SGRA the total net income for Ginger Ales will increase ceteris paribus. Table 1.a Table 1.b Taking into the consideration all above- mentioned in my opinion it is worth to continue producing SRGA because of the number of reasons: 1. The sales
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8 Jerome has a "C" average in his philosophy course and a "B" average in his economics course. He decides to study an extra hour for his philosophy exam. This is an example of A) thinking at the margin. B) using assumptions to simplify. C) ceteris paribus. D) caveat
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previously great Pioneer of the Internet‚ failed in the attempt. As smartly noted in Gwartney‚ Macpherson‚ Sobel and Stroup’s (2013) text‚ it is very important that economists in today’s business market‚ try at best to avoid violation of the ceteris paribus to avoid drawing the wrong conclusion. Although expectations were set high for Ms. Mayer’s
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equilibrium quantity. However‚ the large counter-boycott measures created the opposite result. A majority of the consumers’ tastes and preferences for Chic-fil-A turned out to be positive‚ while other constants remained the same otherwise known as ceteris paribus (Stone‚ 2008‚ p. 53). The public’s increase in their willingness and ability to buy the food in question in turn increased demand‚ shifting the demand curve to the right. This increased both the equilibrium price and equilibrium quantity. As
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