MACROECONOMICS The four main Economic Objectives in the UK are (in order): Economic growth – Economic growth is an increase in the productive capacity of the economy. Measured by real GDP (Gross Domestic Product). Price stability (low‚ stable rate of inflation) –If prices in an economy are constantly fluctuating/unstable‚ it creates uncertainty. Persistent or sustained increase in prices inflation. Gov therefore aim for a low and stable rate; in the UK the target is 2.0% and is measured
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Economics Unit 2 Paper 2 June 2014 Cape Exam N.L. 1) a) Intermediate goods- goods and services purchased for resale or further processing or manufacturing. b) I) GDP only includes the market value of final goods‚ not intermediate goods because the value of final goods already includes the value of all intermediate goods used in producing them. (Including the value of intermediate goods would amount to multiple counting‚ and that would distort the value of GDP) II)
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Chapter 1‚ Basic Microeconomic principles TC function: Represent the relationship between total cost and output‚ assuming that the firm produces in the most efficient manner possible given its current technological capabilities. Semifixed: fixed over certain ranges of output but variable over other ranges AC(Q): average cost function; describes how the firms average cost function or per unit of output costs vary with the amount of output it produces. When average costs decreases as output
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Marketing strategies in the UK car insurance market Marketing of Financial Services 31/06/2011 Anne‐Sophie de Zuttere‐ George Koussis‐070007618 Kyriakos Tyllis‐100039290 Neophytos Stylianides‐100059219 1.0 Introduction Due to the high level of regulation that exists in the insurance industry differentiation is limited as products and services need to be compliant. In regards to car insurance‚ where competition is intense‚ insurance premiums and policies are similar
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Unit 2 Summary notes – Nikhil Pillai Measurements of economic performance Economic growth Two meaning of the term economic growth: - Actual growth‚ increase in real incomes or GDP - Potential growth‚ increase in the productive capacity in a country Real values are adjusted to remove the effects of inflation. Nominal values are current incomes that are not adjusted For GDP to have any significance in terms of standards of living; figures must be given per head (or per capita). E
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Discuss the advantages and disadvantages of aid as a strategy for economic development. Aid is a term used for major financial and material donations given from a donor country to a recipient country. Aid can be given directly from the donor government to the recipient government (bilateral aid)‚ or go from donor to recipient through an international organization such as the World Bank (multilateral aid). It can also take the form of loans from banks to the recipient country‚ or donations managed
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convenience stores‚ and consumers turning to the internet. Major retailers are already adapting for example Tesco’s chief executive has admitted that the power of out-of-town hypermarkets is waning‚ and the internet is now dictating strategies. Online spend in the UK in 2011 grew 16% growth on 2010. “Click and collect” is up‚ as is “mobile shopping”‚ with around 15% of Google search queries now go through mobile devices. John Lewis is said to be “really going after the mobile online sale” by inviting
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made it their number one target for growth.� Why and how did Starbucks venture into the orient? Let’s begin by taking a look at their global/entry strategy along with decision factors. Secondly‚ we will focus on the Chinese government’s possible influence on the company. Finally‚ we’ll touch on future strategic factors. Starbucks international entry strategy for China was basically two-fold. The first phase of the entry was to build the brand. In the initial stages Starbucks tested the waters by offering
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The United Kingdom (UK) consists of England‚ Wales‚ Scotland (who together make up Great Britain) and Northern Ireland. The UK’s geography is varied‚ and includes cliffs along some coastlines‚ highlands and lowlands and many islands off the coast of Scotland. The highest mountain is Ben Nevis in Scotland which reaches a height of 1 344m. The United Kingdom is a constitutional monarchy and parliamentary democracy. The main chamber of parliament is the lower house‚ the House of Commons‚ which has
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TESCO’s Marketing Strategies and the UK Consumer Perceptions Introductory Background According to the report by Solar Navigator (2007) Tesco was founded by Jack Cohen‚ who sold groceries in the markets of the London East End from 1919. The Tesco brand first appeared in 1924. After Jack Cohen bought a large shipment of tea from T.E. Stockwell‚ he made new labels by using the first three letters of the supplier ’s name and the first two letters of his surname forming the word "TESCO". Tesco’s first
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