Economics Answers Define the following terms: 1) Public goods are goods that when produced can be freely consumed by anyone‚ for example the justice system. They are made up of the following goods‚ non-exclusive and non-rival. Non-exclusive goods are goods that people cannot be excluded from consuming‚ it is difficult or impossible to charge for its use which implies no private market as benefits cannot be denied to those who refuse to pay‚ for example public TV. Non-rival goods or
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Projection is of two types – forward and backward. It is a forward projection of data variables‚ which is named forecasting. By contrast‚ the backward projection of data may be named ‘back casting’‚ a tool used by the new economic historians. For practical managers concerned with futurology‚ what is relevant is forecasting‚ the forward projection of data‚ which supports the production of an event. Thus
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that each has a negligible impact on the market price. 2. Here is an example of a monthly demand schedule for pizza: Price of Pizza Slice | Number of Pizza Slices Demanded | $ 0.00 | 10 | 0.25 | 9 | 0.50 | 8 | 0.75 | 7 | 1.00 | 6 | 1.25 | 5 | 1.50 | 4 | 1.75 | 3 | 2.00 | 2 | 2.25 | 1 | 2.50 | 0 | The demand curve is graphed in Figure 1. Figure 1 Examples of things that would shift the demand curve include changes in income‚ prices of related
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International Journal of Economics and Financial Issues Vol. 3‚ No. 3‚ 2013‚ pp.743-751 ISSN: 2146-4138 www.econjournals.com Foreign Aid and Economic Growth in Egypt: A Cointegration Analysis Hoda Abd El Hamid Ali Department of Economics and Foreign Trade‚ Faculty of Commerce and Business Administration‚ Helwan University‚ Cairo‚ Egypt. Tel: 00201003452575. Email: hoda_hawary@yahoo.com ABSTRACT: There is a current and growing debate on the effectiveness of foreign aid‚ especially in
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1. Explain economics? Economics is the study of how society allocates scarce resources and goods. Resources are the inputs that society uses to produce output‚ called goods. Resources include inputs such as labor‚ capital‚ and land. Goods include products such as food‚ clothing‚ and housing as well as services such as those provided by barbers‚ doctors‚ and police officers. These resources and goods maybe be considered scarce because of society’s tendency to demand more resources and goods than
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the gross value of output produced in the manufacturing sector and the generation of employment by the small-scale sector is more than five times to that of the large-scale sector. This clearly shows the importance of small-scale industries in the economic development of the country. The small-scale industry have been playing an important role in the growth process of Indian economy since independence in spite of stiff competition from the large sector and not very encouraging support from the government
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Principles Of Economics Assignment Nurlisa Asyiqin Salehuddin 951123-10-6264 19295 ‚ Foundation in ICT Madam Khalidah Khalid 1.Define a market. A market is any arrangement where buyers and sellers interact with each other to determine the price and quantity of goods and services to be exchanged at a certain period . It need not be a particular place . For example ‚ Amazon.com website is a market in itself since they bring buyers and sellers together to transact goods and
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branded. 4. Each unit of input‚ such as units of labour‚ are also homogeneous. 5. No single firm can influence the market price‚ or market conditions. The single firm is said to be a price taker‚ taking its price from the whole industry. 6. There are a very large numbers of firms in the market. 7. There is no need for government regulation‚ except to make markets more competitive. 8. There are assumed to be no externalities‚ that is no external costs or benefits. 9. Firms can
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Candace Clark BRM/353 Howard Kersey Week One November 11‚ 2014 iPhone 6 I went into the Apple store and I observed a lot‚ the store is really big and bright and is set up to be interactive. When you walk in you feel like you have walked into the future it is not like any other electronic retail store‚ it is merchandised perfectly to fit the brand. The employees are all so helpful and know there job well; they are very knowledgeable about the Apple products. It was very busy when I went
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for the removal of their sins‚ they are freed from the rule of Satan‚ and made to be part of the Kingdom of God. Romans 6 makes it quite clear that when we are baptized‚ we die. The word "myself" became meaningless upon death. Just as Jesus was raised through the glory of God the Father‚ we too are raised from death at baptism. This is not a physical death I speak of. In John 3:1-6‚ Jesus was speaking to Nicodemus about the concept of being reborn into righteousness. While the example is different
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