1.How does the Government improve the operation of the market systems?: (a) by providing an appropriate legal and social framework and (b) by acting to maintain competition. 2.Refer to the diagram regarding equilibrium price and quantity. The equilibrium price and quantity in this market will be: $1.00 and 200 3.Basic determinants of demand are:: 1. consumers’ tastes (preferences)‚ 2. the number of buyers in the market; 3. consumers’ incomes‚ 4. the prices of related goods‚ 5. consumer expectations
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Socrates and Aristotle both have contrasting views of the concept of justice which serves to influence their notions of an ideal constitution. The abstract‚ speculative ideas of Socrates will be compared and contrasted with the practical‚ sensory ones of Aristotle in matters concerning justice and politics. Both Aristotle and Socrates disagree with regards to the definition of justice and what qualities are attributed to a just person. According to Aristotle‚ a just person must follow the law
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Abstract Financial Innovation has been the backbone of our modern financial system. It has revolutionised the way we spend‚ receive and borrow money‚ however through the recent global financial crisis and negative connotations that have been attached to the term‚ people have doubted the positive notions it has had. It is important to distinguish between innovation itself and how it can be used or misused. Recent Financial Innovation has thwarted real economic growth and has been the blame for the
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are two of the four key qualitative characteristics of financial accounting information. The others being understandability and comparability. Relevance requires that the financial accounting information should be such that the users need it and it is expected to affect their decisions. Reliability requires that the information should be accurate and true and fair. Relevance and reliability are both critical for the quality of the financial information‚ but both are related such that an emphasis
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information and moral hazard are important concepts in understanding the evolution of financial markets Name: Qiwei Sun When we consider the evolution of financial markets‚ information is the thing that we must pay much attention to deal with. Asymmetric information and moral hazard‚ the two important concepts‚ are playing key roles in the information system. Both of them could hinder the development of financial markets. So‚ in order to make the financial markets developing much more stably and
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What is a Financial Crime? There is no internationally accepted definition of financial crime. Rather‚ the term expresses different concepts depending on the jurisdiction and on the context. In general‚ financial crime can refer to any non-violent crime that results in a financial gain to the perpetrators and loss to others or the state. It includes a range of illegal activities such as: • corruption (bribery‚ speed money‚ kickbacks etc.) • financial fraud (accounting‚ check‚ credit card‚ mortgage
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The word recklessness in everyday language conveys the idea of taking an unjustifiable risk. Within the law‚ recklessness has acquired two definitive meanings‚ which are individually known as subjective and objective recklessness. The basis for recklessness in criminal law is derived from the fundamental maxim‚ acteus non facit neum nisi mens sit rea ’‚ to the nearest effect‚ a man cannot be guilty on the basis of his actions alone; he must also have a guilty mind. The initial approach to recklessness
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using a gate. Here the person who make a decision is called “Gatekeeper”. At first it is widely used in the field of psychology and later it occupies the field of communication. Now it’s one of the essential theories in communication studies. Concept: The Gatekeeper decides what information should move to group or individual and what information should not. Here‚ the gatekeeper are the decision makers who letting the whole social system. The gatekeeper is having its own influence like social
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Biohome Concept Statement People affected by biochemical components‚ specifically radiation‚ zinc‚ and lead being released into the air‚ soil and most importantly water because of an Earthquake is a disaster where people could be forced to live in a temporary or emergency shelter. The focus for these shelters will be to accommodate the physical‚ psychological and sociological needs for people in search of housing. An emphasis on maintaining a sense of self‚ social and cultural identity will
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Concept of Ethnicity Concept of Ethnicity is being interpreted by many school of thoughts. Ethnicity has turned out to be conspicuous in prominent and insightful thoroughly considering the most recent 50 years. In the late 1960s a couple key works fortified the development of a confusing collection of writings. Ethnicity is a fervently idea. Since it rose as a critical type of aggregate personality in the 1960s‚ it has been appropriated by a wide range of individuals for a wide range of purposes
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