Define Psychology. Is psychology a science? Elucidate your answer with relevant arguments. DEFINITIONS OF PSYCHOLOGY Psychology has been defined in different ways.Some people have defined psychology as an art.Other people have defined psychology as a science.Many text books define psychology as the science of mind and behavior.Psychology involves the study of human nature and/or behavior.Different opinions come from different perspectives. Eric Pettifor at GIGANTOPITHECUS defines psychology as "an
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Major Assignment 1) a) Demand Function: Quantity Demanded (Qd) = a + b* Price (P) Supply Function: Quantity Supplied (Qs) = a + b* Price (P) Where: a = constant b = the change in quantity as a result to the change in price. Demand Function: Quantity Demanded (Qd) = a + b* Price (P) b = (420 – 350) / (20 – 25) = 70 / -5 = -14 Using: P = 25‚ Qd = 350 350 = a – 14 * (25) 350 = a – 350 Therefore a = 700 and the demand function would be: Qd = 700 – 14 * P Supply Function:
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POLITICAL SCIENCE‚ academic discipline‚ the focus of which is the systematic study of government in the largest sense‚ encompassing the origins of political regimes; their structures‚ functions‚ and institutions; all the ways in which governments discover and deal with socioeconomic problems—from dog licensing to diplomacy; and the interactions of groups and individuals that play a part in establishing‚ maintaining‚ and changing governments. Nature of the Discipline. Political science usually
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RELATIONSHIP BETWEEN SOCIOLOGY AND ECONOMICS Sociology and economics are the branches of the social sciences .They have very close relationship. Economics deals with the economics activities of man which is also called science of bred and butter. Economics is the study of production‚ distribution and consumption of goods and services. Economics as concerned with material welfare of the human beings. Economics welfare is only a part of human welfare and it can be only sought only with
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Price Elasticity: Price Elasticity is used to explain the degree of responsiveness of the demand for a product to a change in its price. Ep=Percentage change in quality demanded/Percentage change in price (Ep=Price Elasticity) Practical applications of Price Elasticity: 1) Helps in fixing the prices of different goods: It helps a producer to fix the price of his product. A higher price is charged if the demand for the product is inelastic and a lower price is charged if the demand for the product
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SUPPLY supply curve - in economics‚ graphic representation of the relationship between product priceand quantity of product that a seller is willing and able to supply. Product price is measured on the vertical axis of the graph and quantity of product supplied on the horizontal axis. In most cases‚ the supply curve is drawn as a slope rising upward from left to right‚ since product price and quantity supplied are directly related (i.e.‚ as the price of a commodity increases in the market‚ the
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Cost drivers‚ as propounded by Porter (1985) are the structural causes of the cost of an activity in the value chain. They determine the behaviour and level of costs within an activity. A cost driver can be completely‚ partly or not at all under the control of a firm. It is therefore important for a manager to understand these factors because according to the Neo-classical model of the firm‚ the firm’s objective is to maximise profit by producing a given level of output at the minimum cost level
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The Relationship Between Sociology and Other Social Sciences Sociology can be defined as the science that deals with human relationship. It is the study of how human beings relate with each other‚ how each individual relationship has been influenced by other people and the patterns which are formed out of their interactive relationships. Sociology emphasizes group relationships and total social environment. Sociology studies human behaviour in a different way from other academic approaches
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question of whether Psychology can be classed as a Science has been a topic of debate for many years‚ however to truly answer this question it is first important to understand what the term ‘science’ actually means. According to Eysenk and Keane 1990‚ one of the fundamental principles of science is objectivity‚ which is ensured through the use of highly controlled observations in order to verify or falsify a hypothesis. This method is commonly used within the field of psychology‚ particularly within
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Detroit are the three possible choices for the two new manufacturing plants. These locations vary in distance from the existing outlets in Chicago‚ Milwaukee‚ Minneapolis and Detroit which is why there are differences in transportation costs. Constraints like minimizing transportation costs and meeting the demands of all the outlets are to be considered so that Ricky can make the best decision for the company. Availability of the materials needed‚ specifically fiberglass should be accessible to all manufacturing
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