Principles of Economics (Common for Private Registration to BA History‚ Political Science‚ Sociology‚ & Islamic History Programmes) 1. a) b) c) d) e) In Economics the central problem is: money production consumption allocation scarcity 2. a) b) c) d) Macroeconomics deals with: the behaviour of firms. the activities of individual units. economic aggregates. the behaviour of the electronics industry 3. a) b) c) d) Microeconomics is not concerned with the behaviour of: firms. aggregate demand.
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demanded of the product increases. 3. The non-price determinants of demand. a. Income change in income affects 2 types of goods b. Normal goods: most goods that if the income rises‚ their demand will rise as well I. As income rises the demand curve will shift to the right and the size of the shift depend on the good itself. I. II. Inferior goods: if a product is considered inferior‚ as the income increases‚ the quantity demanded for the product will fall‚ as people
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television set. Question 3. Analyse the method by which a firm can allocate the given advertising budget between different media of advertisement. Question 4. What kind of relationship would you postulate between short-run and long-run average cost curves when these are not Ushaped as suggested by the modern theories? Question 5. How do demand forecasting methods for new products vary from those for established products? Assignment - B Question 1. What are the different methods of measuring
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THE ELEMENTS OF DEMAND AND SUPPLY TOPICS: - DEMAND SUPPLY - LAW OF DEMAND LAW OF SUPPLY - DETERMINANTS OF DEMAND DETERMINANTS OF SUPPLY - DEMAND SCHEDULE SUPPLY SCHEDULE - DEMAND CURVE SUPPLY CURVE The Law of Demand And Supply is one of most important laws in economics. It give us a closer look at the system of exchange in the circular flow. There is exchange taking place because of this law. In the Philippines the law assumes greater importance since our
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as control of inflation‚ investment as well as employment. Interest rates refer to the price paid by deficit agents for borrowing funds from the surplus agents. A line that plots interest rate at a set point in time is the term structure or yield curve. Interest rates which may be short term or long term are linked to a government’s macro-economic policy and future expectations of such a policy .The UK government uses Treasury bill and bond prices to implement its monetary policy. Bills‚ which are
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to Economic Written Report 6.1 a) Consider a monopoly facing the following demand and MC curves: Demand: P = 12 – 0.002 Q MC: MC = 3 + 0.001 Q (i) Calculate the profit maximizing output of this monopoly. Ans: The output level of monopoly to maximize profit is MR=MC. As‚ P=a-bQ‚ the MR curve will be MR=a-2bQ‚ So‚ 12-2(0.002Q) = 3+0.001Q 12-0.004Q = 3+0.001Q 9 = 0.005Q Q = 1800 Monopoly Price
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elastic demand curve for its boxes at $5. Since a perfectly competitive firm faces a perfectly elastic demand curve at the market price‚ it can sell any quantity it chooses at this price. Therefore‚ the change in total revenue that results from a one-unit increase in the quantity sold is equal to the market price‚ so the marginal revenue curve is a horizontal line at the market price of $5 per box. Since the demand curve is also a horizontal line at the market price‚ the demand curve and the marginal
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Sea Cucumber Condition and Trepang Industry in the Philippines Leejee Moody M. Zamora BS Biology Program‚ Sciences Cluster University of the Philippines Cebu 6000‚ Gorordo Avenue‚ Cebu City Abstract Sea cucumbers are under Phylum Echinodermata and Family Holothuridae and Stichopodidae. In the Philippines‚ there are over 170 known sea cucumber species and 69 of these are commercially exploited. The Philippines has no specific regulatory and management measures for sea cucumbers ever since
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kira-kira 1‚5 - 1‚7 meter dan penampang 5-5 cm. Fungsi utama dari usus ini adalah menyerap air dari feses. Usus besar terdiri dari: a. Kolon asendens yg berada disebalah kanan. b. Kolon transversum c. Kolon desendens yang berada disebelah kiri. d. Kolon sigmoid yang berhubungan dengan rektum. e. Sekum (usus
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Definitions American Heritage® Dictionary of the English Language‚ Fourth Edition 1. n. A plane curve formed by the intersection of a right circular cone and a plane parallel to an element of the cone or by the locus of points equidistant from a fixed line and a fixed point not on the line. Century Dictionary and Cyclopedia 1. n. Same as parabole. 2. n. A curve commonly defined as the intersection of a cone with a Plane parallel with its side. The name is derived from the following property
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