Hult Managerial Economics Don Uy-Barreta Lecture notes – Week 1 Chapter 1 – Microeconomics: A Way of thinking about business (and life!!!) The bottom line Property rights are crucial to the efficient allocation of resources that are depleted or devalued in some way when used and when transaction costs are low. They can be a problem when transaction costs are high and the use of the resource does not deplete the resource or devalue it. 1) What is economics about? a) What and how much
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Frankly‚ to know more about Islamic economic‚ lets briefly look at differentiation between Islamic economic and conventional economic. The first different is the role of moral values. Basically‚ conventional economics is more concern towards behavior and preferences of individuals as given. However‚ Islamic economics more concern on individual and social improvement throughout the moral elevation. This moral evaluation or known as uplift moral aims to the changes of individual and preferences of
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Investment South Korea is a role model country that has‚ over the past 40 years‚ successfully evolved into a country of notable economic growth. Possessing a highly achieving educational system‚ South Korea has emerged from a low-income‚ low education region to a thriving nation of scholarly professionals. High levels of education‚ a substantial domestic economy‚ and excellent profitability are elements that make South Korea an attractive site as a foreign direct investment. South Korea is recognized
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ECONOMICS CHAPTER 1- INTRODUCTION TO ECONOMICS ● Assumed 3 decision makers- consumers (households) – that sell land‚ labour‚ capital & entrepreneurship and firms- that pay rent‚ wages‚ interest and profits (rewards for above factors of production ) firms then use the factors to produce G/S in return for payment from consumer. Govt imposes taxes on individuals and (income tax) and firms (corporate tax) to provide infrastructure and other services to community ● Econon’s 2 basic assumptions
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star wars One required textbook Earthquakes science and society lecture will be on additional material not in book but will be guided by materials in the book. take notes (HE SAID IT ALOT!) his lecture slides will not be posted. CH.1 for this lecture Why Learn Earthquakes? Plate Tectonics they are not static they always move. they are moving in a limited space it will cause friction when it moves moves very slowly a few centimeters a year. slides past each other and radiated
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Case 21 South African Breweries Executive Summary South African Breweries (SAB) one of the biggest global producer of beer which is facing several problems such as: SAB has operated in many countries with instable currencies which makes company looking for other alternatives of sufficient capital. Whether is better to enter emerging markets or developed markets. SAB stays on intersection which leads to many local brands in one direction and one global brand in other direction
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Fears and Concerns about Public Speaking Fears and Concerns about Public Speaking There are many things in this world that one can have a fear of. One could be scared of bugs‚ the dark‚ or heights; but a major fear is the fear of having to speak in public. In everyday life public speaking is necessary‚ whether it be in a social or professional setting. My biggest fears and concerns about public speaking are being the center of attention‚ rejection‚ and failure. Being the center of attention
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North vs. South Compare and Contrast The north and south were very different from each other socially and economically. They each had their won interpretations of the Constitution and their differing views creating much conflict. Each conflict gave the two regions their own reasons for entering a Civil War. First of all‚ economic circumstances were very different between the north and the south. The north gradually had become an economy revolving around manufacturing and commerce; they focused
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Scarcity -Basic Economic problem - unlimited wants‚ but limited resources The question is: How do we allocate these limited resources? 3 questions that any economic system must answer: - What should be produced - How should we produce it? - Who gets it? Command Economy - You have heavy state involvement - State of ownership of resources and control of production - What should be produced - the state decides - How to produce it - the state decides - Who gets it - the state decides Market
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North vs. South in the Great Depression The Great Depression is one of the most misunderstood events in not only American history but also Great Britain‚ France‚ Germany‚ and many other industrialized nations. It also has had important consequences and was an extremely devastating event in America. It was the longest and most severe depression ever experienced by the industrialized Western world. When the New York Stock Exchange crashed in October 1929‚ the United States dropped sharply into a
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