fast food restaurants for that reason. 5. If all other factors are equal‚ what is likely to happen to the supply of a product if the price goes up? Why? Explain. (3-6 sentences. 3.0 points) Supply is how much of something is available. Demand is how much of that thing that people want. If the price of a product goes up‚ its supply is going to go up and the demand will go down. People always want the best price. 6. If all other factors are equal‚ what is likely to happen
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Factor Analysis Introduction Basic Concept of Factor Analysis Factor analysis is a statistical approach to reduce a large set of variables that are mostly correlated to each other to a small set of variables or factors. It is also used to explain the variables in the common underlying factors. (Hair et al‚ 1998) Malhotra‚ 2006 mentioned that factor analysis is also an interdependence technique that both dependent and independent variables are examined without making distinction between them
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Factors of Production 1. Land 2. Labor 3. Capital (Money) is not actually considered as capital in economics as it does not produce a good and service but it is rather a form of asset that is used as a medium of exchange. 4. Entrepreneurship The 3 E’s in ECONOMICS 1. Efficiency refers to productivity and proper allocation of economic resources. 2. Equity means justice and fairness. 3. Effectiveness means attainment of goals and objectives. Types of Economic Systems To address
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Steven Beatty Midterm Essay #1 Prompt 1 People in America for years have been living under the assumption that they can do anything they wish and can be successful based on the idea of the “American Dream”. As it’s seen through the recent recession and the 1920s’ depression the poverty issue has seem to put down the idea of the “American Dream” and some people have given up hope they can be successful. A recent radio talk show host has stated that‚ “Nobody has to be poor in this country. If
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The Factors in Developing Nationalism There are many ways in which nationalism can be shaped by the people of a country. Some factors include social‚ economic‚ political‚ geographical and historical aspects. These things give the inhabitants of a country realistic events and values to base their nationalities on. Many events in the French Revolution‚ Napoleonic Era of rule in France‚ and the Independence of Kosovo will be used in the explanation of this development of nationalism. Historical factors
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Janine Krüger: Department of Business Management‚ Nelson Mandela Metropolitan University Chantal Rootman: Department of Business Management‚ Nelson Mandela Metropolitan University Purpose: The purpose of this research is to scrutinise motivational factors that may influence the levels of satisfaction and commitment of small business employees. Problem investigated: An unmotivated workforce leads to dissatisfaction and low commitment levels among employees. Possible consequences of these unproductive
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COMMUNICATION AND ITS FACTORS Communication is an essential part of the development of a functional society member. This action helps us satisfy basic interpersonal needs to express emotions‚ information‚ concerns‚ and motivation‚ inquire‚ and even for persuading. Communication can take place verbally‚ written‚ or signed. Many factors can deviate the intention of the information that is being transmitted. Verbal communication is affected by the ability of the sender to adequately transmit the information
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Environmental factors can play a major part in a company’s marketing plan. Environmental factors can include social‚ ecological‚ political‚ cultural‚ technological‚ and ethical issues. PepsiCo can face all these issues because they are a global company. Many of these issues can affect PepsiCo’s marketing plan even in different areas of the United States. Larger environmental factors affect the way they market globally with different factors having to be considered in each area of the world. A company
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Heather N English 001A Midterm Essay 13 February 2013 The Factors of Success Success is a term that many use as a way to describe ideals. Living in a world that exalts the extraordinary‚ praises the leaders‚ and puts the best up on a pedestal‚ it is not hard to guess why achieving success is what the human race strives to do. Youth look up to the exceptional people in their life‚ media grasps stories of thriving individuals‚ and the world idolizes those who stand out. People endeavor great
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FACTORS OF PRODUCTION In economics‚ factors of production are the inputs to the production process. Finished goods are the output. Input determines the quantity of output i.e. output depends upon input. Input is the starting point and output is the end point of production process and such input-output relationship is called a production function. ’Factors of production’ may also refer specifically to the ’primary factors’‚ which are stocks including land‚ labor (the ability to work)‚ and capital
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