Econolands Production Possibility Frontier (PPF) we first need to understand what is a PPF. A production possibilities frontier (PPF) is a graph showing the different quantities of two goods that an economy can efficiently produce with limited productive resources. Points along the curve describe the trade-off between the two goods‚ that is‚ the opportunity cost. Opportunity cost here measures how much an additional unit of one good costs in units forgone of the other good. The curve illustrates
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cement as its color resembled to the rock found in Portland‚ a place in England. Concrete is the second most used commodity in the world after water. During 2000-2001‚ it is estimated nearly 1 ton of concrete is used by each person on earth. The production of cement is presently estimated at 2000 Million Tons. The strength of cement when it was invented was about 10 MPa which has Continuously increased to 75-80 MPa and through better understanding of its Chemistry and improved technology. Cement is
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ECON 201 Macroeconomics Test #1 Study Guide CHAPTERS 1 and 2 Introduction and Economic Models 1. Define economics. Differentiate between macro and microeconomics. 2. Explain the concept of scarcity. 3. Explain how marginal costs and marginal benefits influence incentives and choice. 4. Define and explain the difference between efficiency and equity. 5. What is the difference between positive and normative economics? 6. What is ceteris paribus? 7. Explain the concept of opportunity
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When the hurly-burly’s done‚ When the battle’s lost and won. Second witch to others We’ll meet when the noise of the war is over‚ when one side has won and the other side has lost. Control the mood of the story Is this a dagger which I see before me‚ The handle toward my hand? Come‚ let me clutch thee: Macbeth to himself Do I see a knife in front of me‚ with its handle pointing upon my fingers? Come‚ let me hold you. He is going to kill the key by the dagger. ( foreshadowing)
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conflict: trade-off methods and penalty functions Unit 9 Material and shape Unit 10 Selecting processes: shaping‚ joining and surface treatment Unit 11 The economics: cost modelling for selection Sustainability Unit 12 Eco Selection: the eco audit tool Unit 13 Advanced Eco design: systematic material selection Unit 14 Low Carbon Power: Resource Intensities and Materials Use Special Topics Unit 15 Architecture and the Built Environment: materials for construction Unit 16 Structural sections:
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Qn: In today’s global environment‚ why are eco-efficiency and eco-effectiveness important to organizations In recent years‚ much emphasis has been put on the importance of eco-efficiency and eco-effectiveness due to raising concern of global warming and the environment in general. Basically‚ eco-efficiency means reducing the environmental impacts of goods and resource intensity throughout the entire life cycle to a level at least in line with the Earth’s estimated carrying capacity; while at
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Eco/372 Final Exam ECO/372 Final Exam Study Guide How to Use this Study Guide – READ ME FIRST The following study guide will NOT have the same exact questions on your test! However‚ this study guide WILL help you ace the ECO/372 Final Exam. The guide covers the same topics and will help you gain a deeper understanding of the concepts. Best of all‚ you are still guaranteed a score of 90% or higher or your money back! Tip #1: Use CRTL+F to search a related keyword to quickly find the topic you
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Economics 201 notes Chapter 1 : First Principles • Economics is science of decision making • individual choice is the basis of economics • methodology = cost-benefit analysis • If it does not involve choice‚ it isn ’t economics. • Resources (something used to produce something else) include capital like tools and equipment‚ land like natural resources and labor • Resources are scarce • Opportunity cost are all costs that you must give up to get it. • trade-off is the
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Econ 201 Name_____________________________ 1st test Sp 2012 Keith Watson 1.Economics is primarily the study of a.economists’ roles in the market for stocks and bonds. `b.the problem of unlimited wants and limited resources. c.methods to eliminate scarcity. d.government programs that make the economy grow. 2.Societies in which consumers‚ producers‚ and resource suppliers determine economic outcomes are known as a.traditional economies. b.command economies. `c
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alternative over another‚ or whether to implement a plan or not. In most cases‚ the effects of these decisions are felt in the future. Examples: Expand into a new market (geographical‚ consumer segment‚ etc.) or not? Now or later? Outsource production or keep it in-house? Grow organically or acquire a competitor? Or don’t grow at all? Purchase shares in Microsoft‚ S&P index options‚ or a B-rated corporate bonds? How could we make such decisions?
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