Introduction There is no denying that for the poorest countries in the world‚ aid (Oversees Development Assistance – ODA) is one of the best tools for economic growth. It is my opinion however that aid in developing countries often comes with too many strings attached. Case and point the issue of aid and homosexuality in Uganda. When Yoweri Museveni officially made homosexuality illegally in Uganda‚ the developed countries threatened to withhold aid from the country. The unfortunate thing is that
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extremely huge‚ over 510 thousands‚ the market structure is classified into perfect competition indisputably with negligible market share. The first graph below shows the counting process of concentrate ratio in the year of 2004‚ based upon the total industry output was 845.9 billion RMB. Though the concentrate ratio is in a low level‚ second graph shows a gradual increase every year. However‚ there still a long way to reach the highly concentrate market. Whereas‚ followed the judgment of atomistic
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Exam Russian Foreign Policy 25/I/2010 PART I : Write an essay Discuss the elements of continuity and change in the foreign policy of post-Communist Russia‚ comparing it with the policies of the Soviet Union and the Russian Empire. Globally seen‚ the goals of the current Russian foreign policy are completely different than the goals the Russian empire or the Soviet Union were wanting to achieve. Nowadays‚ the main interest of Russia is nothing but Russia itself and this is completely different
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of output and price? What are profits? (b) Graph the marginal revenue‚ marginal cost‚ and demand curves. (a) Step 1. Derive the MR and MC functions. P 130 – 2Q TR=P*Q=(130 – 2Q)Q=130Q – 2Q2 MR=dTR/dQ=130 – 4Q MC= dTC/dQ=10 Step 2. Set MR=MC and solve for P*‚ Q*‚ and π. MR=MC 130 – 4Q=10 4Q=120 Q*=30 P*=130 – 2Q=130 – 2*30=130-60=70 Π=TR-TC=P*Q-TC=70*30-(350 10*30)=2100-650=1450 (b) Deadweight loss is equal to area abc. 3. If a monopoly firm sells a product with price $100‚ and marginal
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Markets fail when they under or over allocate resources of production or consumption‚ relative to the best interests of society. Market failure occurs due to four main factors: the existence of externalities‚ asymmetric information‚ the abuse of monopoly power‚ and inequalities and wealth and development. The existence of externalities means that the market mechanism does not always work efficiently. Markets run on a mechanism that only takes into account the private benefit and cost for a good.
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Economic Policy Institute‚ 2012. The China Toll. [Online] Available at: http://www.epi.org/publication/bp345-china-growing-trade-deficit-cost Ensor‚ 2014. Business Day. [Online] Available at: http://www.bdlive.co.za/business/trade/2014/03/12/bilateral-trade-with-china-on-the-i... Friedman‚ M.‚ 1978. Free Trade: Producer vs Consumer. s.l.:Kansas State University. Hill‚ C. W.‚ 2012. International Business: Competing in the Global Marketplace. New York: McGraw-Hill/Irwin. Hill‚ C. W.‚ 2012. International
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monopolistic competition‚ oligopoly‚ and monopoly. When classifying market‚ economists use these following basic criteria: The numbers of sellers and buyers: This is a very important criteria for determining market structure. For example‚ in perfect competition and monopolistic competition‚ there are many sellers and buyers. Each of them only buy or sell a very small part in quantity supplied of market. Type of product: In perfect competition and monopoly‚ products are standardized while in monopolistic
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The Situational Leadership model is based on the assumption that leadership behavior should be guided by the elements affecting the situation. The three primary elements affecting the of the Situational Leadership model as identified by Changingminds.org are follower readiness‚ factors affecting the situation‚ and factors affecting the leader (as cited in Tannenbaum & Schmitt‚ 1958 pp.95-101) Follower readiness is the most important element. Where there is no readiness to follow‚ there exists no
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ZEEZDM Economics 165 Final Exam Spring 1995 1. Economic models or theories a. are limited to variables that are directly (positively) related * b. are simplifications of the real world they represent c. cannot be tested empirically d. are limited to variables that are inversely related 2. Allocative efficiency means that a. opportunity cost has been reduced to zero * b. resources are allocated to the use which has the highest value to society c. technological efficiency has not been
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COLLECTIVE BARGAINING AGREEMENT Collective bargaining is a process of negotiations between employers and a group of employees aimed at reaching agreements that regulate working conditions. The interests of the employees are commonly presented by representatives of a trade union to which the employees belong. The collective agreements reached by these negotiations usually set out wage scales‚ working hours‚ training‚ health and safety‚ overtime‚ grievance mechanisms‚ and rights to participate in
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