• List the two assumptions that underlie the conclusion that free markets are efficient. Explain how these assumptions either do or do not apply to an industry of your choosing. Free market economics concludes that the two assumptions that make free markets efficient include; 1.) perfect competition and 2.) that buyers and sellers are the only actors interested in the outcome of the market. eBay is an example that I consider being the closest thing to a “perfectly” competitive market‚ albeit internet
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• Post a 250- to 300-word response to the following debate topic: The United States must place high tariffs and use quotas to restrict trade with foreign countries. • Consider the following issues: • The strength of the dollar on domestic and global economies • Benefits from tariffs or quotas • Losses from tariffs or quotas I think that it is very important that trading with other countries is limited. With the economy that we are currently in‚ many people stand to benefit from their
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I. Background of the study Guimaras is an island province of the Philippines located in the Western Visayas region. Among the smallest and youngest provinces‚ its capital is Jordan. The island is located in the Panay Gulf‚ between the islands of Panay and Negros. Guimaras Island is a favored destination by both foreign and domestic tourists because of its beaches‚ waterfalls‚ springs‚ off shore islets‚ and its famous mangoes‚ which is considered one of the sweetest in the world. Guimaras
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Week 2 Assignment Topic | Answer | What factor caused movement along the supply curve in the simulation? | By decreasing the availability of the units to 28%‚ there was a surplus of 550 units available. | Please include the graph of a movement along the supply curve. Refer to our textbook please. | | What factor caused shift of the supply curve in the simulation? | The higher the price of the rental unit‚ the more the supply increased. This caused a movement along the supply line to curve
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Be Intelligent—Identify the Stakeholders You’ve identified the issue‚ and your ultimate goal is to take an action that will solve or address that issue. But we can’t skip right to the end just yet! Before thinking about the solution‚ consider the other people in the situation. Your decision—even if that decision is to do nothing—will have an effect on some people. We call these people the stakeholders. Like a pebble hitting the water‚ our actions have consequences that ripple out from the
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Russian President Vladimir Putin recently directed his nation’s parliament to develop a plan to reduce the country’s falling birthrate. In a speech to parliament on May 10‚ 2006‚ Putin called the problem of Russia’s dramatically declining population‚ "The most acute problem of contemporary Russia." The president called on parliament to provide incentives for couples to have a second child to increase the birth rate in order to stop the country’s plummeting population. Russia’s population peaked
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Economics‚ Case No. 8 THE PRODUCTION FUNCTION AT TOYOTA Throughout most of the 20th century‚ business in the United States‚ especially in manufacturing‚ was dominated by the paradigms of mass production and scientific management. The focus was primarily on finding ways to produce at lower unit costs without much overt concern about quality and consumer satisfaction. Now‚ a new view of the productive enterprise has emerged. The new view focuses more on quality and customer satisfaction as the driving
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Elaine Vieira Week 2 iLab – Exercise 1 * Compare/contrast commercial wind turbines "offshore" versus "on land". Land wind turbines “on-shore” are installed in land-based applications‚ while “off-shore” wind turbines are installed over water. There are some advantages and drawbacks; such as the environmental impact of offshore wind is considerably reduced compared with those onshore; although noise and visual impact are questionable to be problems there are some concerns. For example‚ there
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Making Decisions Based on Demand and Forecasting Tiara Jones Strayer University Dr. Mumeka ECON 550 July 25‚ 2013 Introduction In this assignment I will be discussing the consideration of Domino’s Pizza entering the market place in the Washington DC’s Georgetown community. I selected this area because it is highly populated with tourists that may want to grab a quick bite to eat while shopping and touring the area and the local upper class working singles that often don’t
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Unit 203 Work in a Business Environment Outcome 1: Understand How to Respect Other People at Work Assessment Criteria The Learner Can: 1.1 Describe what is meant by diversity and why it should be valued. Diversity can be differences in race‚ heritage‚ gender‚ beliefs‚ physical appearance‚ mental capabilities‚ etc. Diversity should be respected and valued because nobody is completely the same as anyone else‚ even within the categories above. People tend to reject what is different. Our differences/diversities
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