of sandwiches or a bowl of fish-ball noodles form a street hawker. Explain the effect on Eason’s opportunity cost of buying the sandwiches if a cockroach is found inside the noodle soup. Eason’s opportunity cost of buying the sandwiches is a bowl of fish-ball noodles‚ however‚ there is a cockroach found inside the noodle soup‚ therefore his opportunity cost would decrease due to the value of the fish-ball noodles would decrease because of a cockroach found. 2A)(i) Distinguish between change in
Premium Supply and demand Price elasticity of demand
LABOUR ECONOMICS Q2.Define “Labour Economics”. Explain the nature and scopeof Labour Economics. Explain the characteristics of Labour? Ans: -Labour Economics:- “Labour Economics may be defined as a study of theorganization‚ institutions and behavior of the labour market in anindustrising or industrial economy”. According to Dole Yoder:- “Labour economics or manpower economics is primarilyconcerned with efficient utilization and conservation of manpower and resources. It studies and seeks to understand
Premium Minimum wage Unemployment Employment
Turkey Economic Factors Turkey has many market drivers that make it an ideal location currently for property investment. Here we look at some of the reasons why Turkey is one of the world’s hottest investment property locations. * Excellent capital growth projections of around 25% per annum Land prices in Turkey have risen in recent years and‚ in many cases‚ doubled. In 2005 to 2006‚ property prices have risen by 25–40%. Recent research shows that by comparison investments made since 1994
Premium Turkey Istanbul
Managerial Economics Economics has two major branches namely Microeconomics and Macroeconomics and both are applied to business analysis and decision-making directly or indirectly. Managerial economics comprises all those economic concepts‚ theories‚ and tools of analysis which can be used to analyze the business environment and to find solutions to practical business problems. In other words‚ managerial economics is applied economics The areas of business issues to which economic theories can be applied
Free Economics Macroeconomics
The United States economic environment consisted of many criteria between the years 1999-2003. One factor of influence on the economy was the unemployment rate of Americans. Personal income was another factor that played into the economy. Another economic factor was the price of oil. The last factor was that of the unimaginable War in Iraq. These factors all combined to impact the economic environment. Unemployment rates have always been atop Americans minds. Today more than ever‚ Americans
Premium Economics Unemployment Inflation
METHODOLOGY: DEMAND AND SUPPLY 4 MODULE 2: MARKET STRUCTURE‚ MARKET FAILURE AND INTERVENTION……...12 MODULE 3: DISTRIBUTION THEORY 17 UNIT 2: MACROECONOMICS MODULE 1: MODELS OF THE MACROECONOMY 27 MODULE 2: MACROECONOMIC PROBLEMS AND POLICIES 28 MODULE 3: GROWTH‚ SUSTAINABLE DEVELOPMENT AND GLOBAL RELATIONS 36 OUTLINE OF ASSESSMENT 44 REGULATIONS FOR PRIVATE CANDIDATES 55 REGULATIONS FOR RESIT CANDIDATES 56 ASSESSMENT GRID 57 RESOURCES 58 GLOSSARY
Premium Economics Supply and demand
ECONOMICS Economic Problem * Unlimited wants‚ limited resources Economic Systems * Questions to answer: 1. What to produce? 2. How much to produce? 3. How to produce? 4. For whom to produce? * Criteria to classify economic systems 1. Productive resources owned by private individuals (private sector) or government (public sector) 2. Role of market forces of demand and supply in allocating resources‚ determining prices‚ distributing incomes 3. Role of government in production
Premium Supply and demand Economics
ECM002 Business Economics Instructions: Please answer four out of the following six following questions: Question 1. Suppose Cola- Sol and Miniranda are the only two companies producing a particular type of cola drink in the soft drink industry. Both companies are considering launching a new drink with a light lemon twist. They can launch their products either at a low price or at a high price. The expected net payoffs are the following: If both companies choose a high price strategy‚ Cola-
Premium Economics Consumer theory Game theory
Economic growth is considered as one of the most essential parts of the economics‚ and it is defined an increase of goods and services of a country within certain period (Acemoglu‚ 2012). Modis (2013) claimed that‚ this economic growth conception particularly relates to the growth of potential output and production which is measured by gross domestic product per capita (GDP). Economic growth ideology has a long history‚ though it has been existed since the mid-18th‚ economic growth has dominated
Premium Economic growth Economics Macroeconomics
Health economics - The Primer This series of articles will introduce readers to the emerging field of health economics. We will review how health economics influence decision making process in health care and the basic tools used in health economics. * 1. The Role of Health Economics * 2. Cost of Health Care * 3. Should Oncologists Care About Cost-Effectiveness Analyses? * 4. Classification of Health Economic Analyses * 5. Health Economics Research: Cost Utility Analysis
Premium Health economics Costs