MICROECONOMICS CHAPTER 1 INTRODUCTION TO ECONOMICS ____________________________________________________________________________________________ 1.0 INTRODUCTION – THE SUBJECT MATTER OF ECONOMICS Economics comes from the verb ‘to economise’‚ and this means making ends meet. This is a study of how society makes decisions‚ regarding the allocation of scarce resources. Economics as a subject is divided into two parts; Economics‚ social science concerned with the production‚ distribution
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Regional Paper - MERCOSUR Regional integration is the process by which countries agree to reduce or eventually remove tariff and non-tariff barriers to promote the free flow of goods and services amongst countries. Global business is accomplished when organizations conduct business internationally and are not committed or bounded to a single home country. Regional integration combined with global business supports organizations conducting business globally amongst a variety of countries by
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Asian Association for Regional Cooperation or SAARC was created to promote economic integrity and cooperation among 7 South Asian nations namely India‚ Bangladesh‚ Pakistan‚ Bhutan‚ Nepal‚ Maldives‚ and Sri Lanka. The Association was formed in 1985 with the aim to ensure social and economic development of the member countries. However‚ over the years it has been seen that SAARC mainly worked towards development of economic relationship among the SAARC nations. Attempts are also on to further trade
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Defination Examples |Prefential Trading Area |A preferential trade agreement is perhaps the | | | |weakest form of economic integration. In a PTA |European Economic area | | |countries would offer tariff reductions‚ though| | | |perhaps
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MANAGERIAL ECONOMICS MEANING OF MANAGERIAL ECONOMICS Managerial economics‚ used synonymously with business economics‚ is a branch of economics that deals with the application of microeconomic analysis to decision-making techniques of businesses and management units. It acts as the via media between economic theory and pragmatic economics. Managerial economics bridges the gap between ’theoria’ and ’pracis’. The tenets of managerial economics have been derived from quantitative techniques such as regression
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2230-9926 International Journal of Development Research Vol. 4‚ Issue‚ 6‚ pp. 1240-1248‚ June‚ 2014 Full Length Research Article ECONOMIC AND POLICY FOUNDATIONS OF AGRICULTURAL EXPORTS FROM GHANA: A COINTEGRATIONANALYSIS 1*BoansiDavid‚ 2LokononBoris OdilonKounagbé‚ 2AppahJohn and 1GebremariamGebrelibanosGebremedhin 1Department 2West of Economic and Technological Change‚ Center for Development Research (ZEF)‚ Bonn‚ Germany African Science Service Center on Climate Change and Adapted
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INDEX Introduction Impact of regional integration in Nafta on member states Objectives of Nafta Positives and negative aspects of NAFTA Impact of Regional Integration (NAFTA) on the U.S. Impact on United States Businesses: Impact of the Regional integration on Canada Impact on Canadian businesses. Impact of Regional Integration(Nafta) on Mexico Impact on Mexican Businesses Conclusion References Introduction In today’s globalised economies‚ most of the countries in the World are part
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1. What do you understand by Managerial Economics? Give Definition and meaning of Managerial Economics. Economics is the branch of Knowledge that deals with how the scarce resources can be used to produce valuable goods and services and distribute them efficiently among different classes of people in the society. What is Managerial Economics? Douglas - “Managerial economics is the application of economic principles and methodologies to the decision-making process within the firm or organization
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What is Economics? Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Economics explains how people interact within markets to get what they want or accomplish certain goals. Since economics is a driving force of human interaction‚ studying it often reveals why people and governments behave in particular ways. There are two main types of economics: macroeconomics and microeconomics. Microeconomics focuses on the actions
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If you are to risk everything in one shot‚ will you risk it all? ASEAN integration provides a spark for a pristine revolution in the global arena‚ with the full realization of the ASEAN Economic Community (AEC) as its end-all and be-all. The AEC is targeted at transforming the ASEAN region into a single market and production base‚ a highly competitive region‚ a region of equitable economic development‚ and a region fully integrated into the global economy. As the saying goes‚ “if you cannot conquer
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