that there are only six students considering renting rooms in the specified neighbourhood. Assume also that all student rooms in the neighbourhood are identical. Table 1 shows you‚ for each of these six students‚ the maximum monthly rent that they would be willing to pay for a student room. These are the students’ reservation prices. Note that‚ since at the reservation price‚ the student is indifferent between renting a room and not renting one‚ by the argument made in the lecture on “Thinking like
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better. The data on rural finances are not available in organized manner. Many firms render rural finances through improper distribution channel and don’t maintain database. Micro Finance A type of banking service that is provided to unemployed or low-income individuals or groups who would otherwise have no other means of gaining financial services. Ultimately‚ the goal of microfinance is to give low income people an opportunity to become self-sufficient by providing a means of
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A macro environment comprises the external factors that can influence a business. These factors are often out of the control or management ability of a company. Factors typically include economic‚ demographic‚ political‚ and technological forces in business. Business owners and managers often spend copious amount of time and effort to assess the overall economic environment in order to determine the number and strength of each factor. Strategies and performance reviews can help owners and managers
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experiencing high unemployment and what the government should do about it‚ how would each economist explain unemployment and what policies would each advocate? If I were having a conversation about why the economy is experiencing high unemployment and what the government should do about it‚ with a Keynesian and a Classical economist I think that the economists would explain the situations in the following way and would support the following policies. Classical economists promote the idea of two
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1. From the definition of GDP we arrive at the following expression: c + i + g + x-m = y = c + s + t Discuss the three important economic relationships that can be derived from this expression related to the definition of GDP and explain each carefully. The expression above depicts two different ways to come up with real GDP for a country. The left side of the expression explains expenditure side of computing real GDP which can be rewritten as: y = c + i + g +x – m In real terms‚ it could
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What Steps Do you need to Achieve to Realize Your Career Goal? How can this course help you to achieve it? Growing up I have always wanted to become an Attorney-At-Law‚ well time and things change‚ and I have been exposed to other career options. Becoming an Attorney-At-Law was not meant to be but still I had a burning desire and passion inside me to become a trained professional‚ so I thought I heard the kitchen calling‚ I could almost hear sounds of pots and pans cluttering‚ I could see spatula
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Y = $200. b. Draw a graph using the demand and supply curves given and show the equilibrium outcome. c. Calculate the elasticity of demand at equilibrium. Also calculate income elasticity. Interpret your results for both elasticities. d. What would be the consequence for the market if the government imposed a minimum price of $20 per
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1.0 MACRO ENVIRONMENT ELEMENTS There are many factors in the macro-environment that will effect the decisions of the managers of any organization. Tax changes‚ new laws‚ trade barriers‚ demographic change and government policy changes are all examples of macro change. 1.1 Political and Legislation Factors The political-legal dimension of the general environment also affects business activity. The philosophy of the political parties in power influences business practices. The legal environment
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follows: Assets Reserves $100‚000 Loans 400‚000 (a) If the central bank requires to hold 5% of deposits as reserves‚ how much in excess reserves does ONCB now hold? (b) If ONCB decides to reduce its reserves to only the required amount‚ by how much would the economy’s money supply change? 4. (a) Explain the adjustment process that creates a change in the price level when the money supply increases. (b) Explain with the aid of a diagram what happens to the money supply‚ money demand‚ the value
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Sociological theories can be divided into two categories‚ macro-sociological and micro-sociological theories‚ otherwise known as structural and action theories‚ respectively. As sociological theories‚ they both aim to explain the society we live in‚ but differ in where they choose to focus their explanation‚ with macro-sociological theories observing society as shaping the individuals that live in it‚ and micro-sociological theories observing individuals as shaping the society they live in. Structural
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