ECONOMIES OF SCALE Economies of scale are an important aspect of efficiency in production .Economies of can henceforth be define as ‘the reduction in average costs of production‚ that occur as a firm increases in size’. As businesses grow and their outputs increases‚they commonly benefit from a reduction in average costs of production.Total costs will increase with the increase in output‚but the cost of producing each unit falls as output increases .The reduction
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Tourism is global phenomenon that has evolved tremendously in the past century. These transformations have depended on and benefited from the emergence of Western Capitalism and capitalist economies (Chambers 2010: 15). Initially restricted to the tourism of the “preserve of elites” (Urry 1991: 4) the “Grand Tour” has over time become an easily accessible universal experience‚ defining the characteristics of the modern man and consequently is the “largest industry in the world” (Urry 1991: 5). Although
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conomics | Economics-I Tutorial | (Rough Copy) | | Introduction: The patent system aims to confer Intellectual Property right to an innovator who has created an economic innovation which provides a better way to make something or something better to make. When an innovator comes up with a product which is new in the market‚ the innovator gains a competitive advantage. This is turn creates extraordinary profits for the innovator which temporarily causes disequilibrium in the market.
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Attitude Measurement: Likert Scale The Dogmatism Scale Please do not skip any of the statements‚ and answer each statement to the best of your ability. Strongly Agree‚ Agree‚ Sometimes‚ Disagree‚ Strongly Disagree 1.) Once an idea is in my head‚ I stick with it. 2.) My own personal beliefs seem to be more right than others. 3.) I am open to hear others opinions and let them at least try to change my mind. 4.) I would rather agree with someone‚ even though I know they are wrong‚ just because we
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Likert Scale Page 1 of 3 Likert Scale The following choices may help you when you design an attitude instrument. The bold face sets are the most popular. AGREEMENT z z z z z z z Strongly Agree Agree Undecided Disagree Strongly Disagree z z z z z z z z z z Agree Strongly Agree Moderately Agree Slightly Disagree Slightly Disagree Moderately Disagree Strongly z z z Agree Very Strongly Agree Strongly Agree Disagree Disagree Strongly Disagree Very Strongly z z z z Yes No z z z z Agree
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Resiliency Scales for Children and Adolescents A critical review Katie Waghorn West Virginia University March 14‚ 2014 Author’s Note This paper was prepared for COUN 505 taught by Dr. Tina Walsh Introduction Resilience is a complex construct with many definitions. Most frequently‚ resilience can be defined as one’s ability to “bounce back” from an adverse situation. It is “interactive and contextual” (Prince-Embury & Saklofske‚ 2013‚ pg.19). However‚ some believe resiliency
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all populations has become an accepted international goal and we can attest that there have been gains in life expectancy over the past century especially in the developing world. The prospects for future health depend increasingly on the relatively new process of globalisation which in past times has often been seen as a more or less economic process. However it is increasingly being perceived as a more comprehensive phenomenon‚ which is shaped by a multitude of factors and events that are reshaping
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evaluate their impacts at the global and national scales (40 marks) A TNC (transnational corporation) is a company that operates in no less than two countries and has a global outlook. TNCs have a long history going back to the 16th Century in terms of trade such as spices‚ but it’s not until C. 1945 that companies started to form acquisitions and mergers. The one key reason why these businesses have been so successful in their area of expertise globally is because they can take advantage of spatial
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Poverty‚ which is defined as the lack of the minimum food and shelter necessary for maintaining life. More specifically‚ this condition is known as absolute poverty. Today it is estimated that more than 35 million Americans—approximately 14 percent of the population—live in poverty. Of course‚ like all other social science statistics‚ these are not without controversy. Other estimates of poverty in the United States range from 10 percent to 21 percent‚ depending on one’s political leanings. This
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Economies of scale The long run – increases in scale A firm’s efficiency is affected by its size. Large firms are often more efficient than small ones because they can gain from economies of scale‚ but firms can become too large and suffer from diseconomies of scale. As a firm expands its scale of operations‚ it is said to move into its long run. The benefits arising from expansion depend upon the effect of expansion on productive efficiency‚ which can be assessed by looking at changes in average
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