CARIBBEAN EXAMINATIONS COUNCIL Caribbean Advanced Proficiency Examination CAPE ® ECONOMICS SYLLABUS Effective for examinations from May/June 2010 CXC A20/U2/09 Published by the Caribbean Examinations Council All rights reserved. No part of this publication may be reproduced‚ stored in a retrieval system‚ or transmitted in any form‚ or by any means electronic‚ photocopying‚ recording or otherwise without prior permission of the author or publisher. Correspondence related to
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Lecture on Production and Cost of Production Basic Economics Production is the transformation of inputs into outputs. Production Function shows the relationship between quantities of various inputs that can be produced with those inputs per unit of time expressed in a table‚ graph or an equation. Q = f (K ‚L) given a technology Where: K = Capital and L = Labor Periods of Production 1. Short – run – the use of at the least one factor of production cannot be changed‚ or there are
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The recent economic recession faced by not only the United States‚ but also major countries across the globe‚ has made it tough for businesses to keep operating at a profitable level and forced many to downsize their personnel or to even go bankrupt. In fact‚ this tough economic period has caused consumers‚ whether they are manufacturers buying raw material or an average person buying food at the grocery store‚ to be a lot more conservative with regards to their needs and spending. Consequently the
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Download the original attachment (1) Economics for Engineers - Introduction Our Country has reached 65th yr of its glorious existence as the defender of a great legacy of professional integrity‚ independence and excellence. To preserve it for posterity is our duty – ‘ The prudent heir takes careful inventory of his legacies and gives an faithful accounting to those whom he owes an obligation of trust’ – rightfully said by the 35th American President – John F. Kennedy. The days of generalists
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The Relationship Between the Objectives of Owners of Professional Clubs and Franchises and League Structures Introduction In the literature related to sports economics there is a strong debate regarding the objectives of clubs and franchise owners and their implications on league regulations. As Sandy et al (2004) state‚ ‘there is a conflict between the interest of the league in having most teams win half of the games to maximise competitiveness and those of the individual teams which maximize
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Chapter 1 Questions 1. Explain the concept of opportunity cost. Opportunity cost is that which has to be forgone in order to obtain a good or service 2. List goods‚ or services‚ that compete for your income. Similarly‚ list activities that compete for your time. In deciding what you will spend your income on and how you will allocate your time‚ do you minimize your opportunity costs? Goods or services competing for your income might include rent‚ food‚ heating and travel. Activities
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Glynn Lowth‚ Malcolm Prowle‚ Michael Zhang Nottingham Business School The impact of economic recession on business strategy planning in UK companies Research executive summary series Volume 6 | Issue 9 Key findings: The key findings from this research were: • There is very little optimism about the prospects for the UK economy in the short to medium-term. • There is quite a degree of optimism from companies about their own commercial future based on a combination of factors such
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analysis • Obstacles to national income measurement • Circular flow of income (two sector economy) 3. Macroeconomic theories • Classical economics: ideologies • Keynesian economics: ideologies • Monetarism: ideologies • New Classical economics: ideologies 4. Unemployment • Types of unemployment • Unemployment in Nigeria • Policy measures towards reducing unemployment 5. Inflation
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PAPER – 2.1 MANAGERIAL ECONOMICS UNIT – I CHAPTER - I SECTION - I Definition of Managerial Economics Managerial economics refers to those aspects of economics and its tools of analysis most relevant to the firm’s decision-making process. According to MeNair and Meriam‚ managerial economies consists of the use of economic models of thought to analyze business situations. Some writers consider managerial economics as the integration of economic theory with business practice
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Managerial economics as defined by Edwin Mansfield is "concerned with application of the economic concepts and economic analysis to the problems of formulating rational managerial decision."[1] It is sometimes referred to as business economics and is a branch of economics that appliesmicroeconomic analysis to decision methods of businesses or other management units. As such‚ it bridges economic theory and economics in practice.[2] It draws heavily from quantitative techniques such as regression analysis
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