Economics 247 Assignment 1 Version A This assignment has a maximum total of 100 marks and is worth 10% of your total grade for this course. You should complete it after completing your course work for Units 1 through 5. Answer each question clearly and concisely. 1. a. 3/3Define opportunity cost‚ and explain its importance in economics. (3 marks) -The opportunity cost of something is what you must give up of one thing‚ in order to get it. Opportunity cost is a key concept of
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CONTRACTIONARY POLICY: Definition: A type of policy that is used as a macroeconomic tool by the country’s central bank or finance ministry to slow down an economy. Contractionary policies are enacted by a government to reduce the money supply and ultimately the spending in a country. This is done primarily through: 1. Increasing interest rates 2. Increasing reserve requirements 3. Reducing the money supply‚ directly or indirectly This tool is used during high-growth periods of the business
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MATRIX RANKING OF THE POLICY ISSUES ON SOLID WASTE MANAGEMENT Main Policy Issues on Solid Waste Management | Sub-set of Issues | Target Beneficiaries | Major Players | Policy Content | The use of non-biodegradable plastic carry out bag and polystyrene foam at point of sale by retail / business establishments | Banning the use of film plastic bag | Costumers‚ commercial establishments‚ citizen | * Commercial establishments such as engaged in commerce or sale of goods or services‚ including
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Art 203 Final Exam Art in eighteenth and nineteenth century took many roles in history illustrating the modern world. Courtly art was uninterrupted through the renaissance period until it came to standstill in the eighteenth century antiquated by the rise of the Bourgeois class. With countless revolutions emerging throughout the eighteenth and nineteenth century‚ ensued by the new found enlightenment‚ artists became liberated with the subjects used in their art‚ depicting political ideals of the
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Money Market on the Nigerian Economic Development Mr. Okpe Innocent Ikechukwu Department of Accountancy‚ Enugu State University of Science and Technology‚ Enugu‚ Enugu State of Nigeria Abstract The objective of this study is to examine the impact of money market on the Nigerian economic development; it has been prepared as a contribution to the quest for promotion of entrepreneurship as an engine growth. To access the multidimensional role and medium scale enterprises in bringing out rapid industrialisation
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Demand Estimation Debbie Allen ECO 550 August 10‚ 2014 Dr. Lundondo Mumeka Demand Estimation In this essay I will assume the role as an employee for the maker of a leading brand of low-calorie‚ frozen microwavable food chain. Using the data from 26 supermarkets around the country for the month of April and the equation data that has been provided to me‚ I will compute the elasticity for each independent variable as well as determine the implications for each of the computed elasticities for the
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Economics 1 Assignment Name: Shaun Neo Wei Qiang Student CT NO. : CT0209608 Date : 18th April 2014 Module : Economics 1 Lecturer : Mr Wong Hean Hoo Outline 1) Introduction 2 2) Relating to the Article – Inflation 3 3) Some of the causes for inflation 4 4) Managing inflation 5 5) Conclusion 6 6) Biblology 7 7) Actual Article Selected 8 Page 1 Introduction The article I chose Is from Today
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would be affected * Government: * Federal Government de-regulated the industry in 2000. * They do not have perfect policies and regulations to control farm product price * shocked industry leaders and put local jobs at risk 3. What economic theories can be drawn? * Government intervention * Actions on the part of government that affect economic activity which includes “taxes”‚ price controls‚ assorted regulations‚ and control over government spending. * Deregulation
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command economy. In mixed economy both the private and public sector need to co-exist to overcome the weakness of one another. Most countries practice mixed economy for a number of reasons as mentioned below. Where there is free market enterprise economic forces are unfettered. Supply and demand determine the prices of goods and services. Prices in turn tell businesses what to produce‚ if the people want more of a particular good than the economy is producing the price of the good rises. That catches
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Fiscal Policy vs. Monetary Policy With America in recovery from the attacks on our freedom and our economy‚ many wonder if we will return to phase one (expansion) and how long it will take to reach phase two (recession) again. The Keynesian Theorists of America believe that the government should actively pursue Monetary policies (enacted by the Federal Reserve Bank) and Fiscal policies (enacted by Congress) to reach adjustments to price‚ employment‚ and growth levels. In our full market economy
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