Railroads and their roll in Georgia history Railroads and their roll in Georgia history "The time will come when people will travel in stages moved by steam engines from one city to another‚ almost as fast as birds can fly‚ 15 or 20 miles an hour.... A carriage will start from Washington in the morning‚ the passengers will breakfast at Baltimore‚ dine at Philadelphia‚ and sup in New York the same day.... Engines will drive boats 10 or 12 miles an hour‚ and there will be hundreds of
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In microeconomic theory‚ the opportunity cost of a choice is the value of the best alternative forgone‚ in a situation in which a choice needs to be made between several mutually exclusive alternatives given limited resources. Assuming the best choice is made‚ it is the "cost" incurred by not enjoying the benefit that would be had by taking the second best choice available.[1] The New Oxford American Dictionary defines it as "the loss of potential gain from other alternatives when one alternative
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Scarcity of resources is one of the more basic concepts of economics. Scarcity needs trade-offs‚ and trade-offs result in an opportunity cost. While the cost of a good or service often is thought of in monetary terms‚ the opportunity cost of a decision is based on what must be given up as a result of the decision. Any decision that involves a choice between two or more options has an opportunity cost. Opportunity cost‚ scarcity and trade-off are important in our daily life because it affects us
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Railroad crossings are something that you will run into several times throughout driving and there are certain precautions that you should take to cross them safely. Trains often move very fast and won’t be able to stop for you so you must be very cautious when coming acrossthem. When approaching a railroad crossing it is very important to exercise caution.When approaching a railroad crossing you must slow down and if you are to park by a railroad crossing you may not park within 50 feet of the
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Opportunity cost Have you ever been in the situation deciding which cloth to buy? Have you ever facing the dilemma of to study or to play? Have you ever consider as a seller and choose to lower the price or raise it? In the field of economics‚ here’s a solution for you. The magic word is “opportunity cost”. Opportunity cost in terms of economy is the highest-value alternative one has to give up to engage in an activity. In other words‚ using the same resources such as money and time‚ the best
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The First Transcontinental Railroad in the United States was built in the 1860s‚ linking the well developed railway network of the Eastern coast with rapidly growing California. The main line was officially completed on May 10‚ 1869. The vast number of people who traveled the line‚ and the network that followed‚ set the USA on the path to economic abundance. It also ended the centuries old way of life of the Native Americans and greatly altered the environment. The rail line was an important goal
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Discuss the opportunity cost of getting your MBA. What steps and economic factors must a student make when choosing between getting a degree and taking another route in life? Feel free to include aspects from your own decision to pursue your MBA. When considering to starting an MBA program‚ there are many questions that you have to ask yourself. Can I afford the program? Will it help me to become more marketable in the job industry? Will I have time to dedicate into completing coursework?
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Underground Railroad was crucial to the Reconstruction era and in supporting the Union side of the Civil War. The Railroad was a system of routes and safe houses that helped slaves escape from slavery to a better life. Runaway slaves were led by “conductors” such as the famous Harriet Tubman to free territories‚ the most popular destination of these being Canada‚ or the “promised land”. Many slaves also escaped to Northern states‚ Mexico‚ or even the Caribbean. The system provided an opportunity for black
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In this essay I am going to explain the term ” equal opportunities” in relation to early years practice. Explore this in the context of the UN Convention on the Rights of the Child and explain the impact the Convention on UK legislation. I am also going to suggest some steps which in my consideration can implement equality of opportunity for children in UK. Equal opportunity is a descriptive term for an approach intended to give equal
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Harriet Tubman and the Underground Railroad I am sure everyone has heard about Harriet Tubman and the Underground Railroad at least once in their life; most people have learned about it in elementary or middle school. When I first learned about it‚ I always thought it was an actual railroad that was underground. Eventually‚ I learned that that was not true; it was just a metaphor. “It was symbolically underground as the network’s clandestine activities were secret and illegal so they had to remain
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