Roles and Functions of Law in Business and Society LAW-421 May 6‚ 2013 Roles and Functions of Law in Business and Society Law is a necessity in business and society. Law has been defined as “A body of rules of action or conduct prescribed by a controlling authority and having legal binding force” (Melvin‚ p. 4‚ 2011). Laws are essentially common sense or ethical standards that are enforced. Without laws‚ society would depend on all to be ethically and morally sound‚
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b) cost exceeds its marginal benefit. c) cost equals its marginal benefit. d) benefit is still positive. 4. Microeconomics is concerned with: a) the aggregate or total levels of income‚ employment‚ and output. b) a detailed examination of specific economic units that make up the economic system.** c) positive economics‚ but not normative economics. d) the establishing of an overall view of the operation of the economic system. 5. Any combination of goods lying outside of the budget
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Shuvojit Saha 114840 07 Hasan Ahmed Sultan 114864 08 Mehran Karim 114866 09 Md. Sajib Hasan 114884 10 Ummah Tamima Yasmin Tama 104902 Case Title Business Plan of Brunt Hotels to start a new hotel business in France. Overview of Brunt Hotels‚ PLC Brunt Hotels‚ PLC is a well known hotels in United Kingdom. Brunt Hotels‚ PLC‚ owns more than 60 hotels throughout the United Kingdom. They recently acquired a small hotel chain
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* Budget deficit * Budget surplus * Balanced budget * National saving * Private saving * Public saving Questions 1. What is the role of the financial system? Name and describe two markets that are part of the financial system in our economy. Name and describe two financial intermediaries. What is the fundamental difference between financial markets and financial intermediaries? 2. Draw a diagram to illustrate the market for loanable funds (closed economy) where all
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Specific Performance MT311 Business Law Part I There are four situations we have to review in terms of specific performance and possible breach of contract. First we must understand the elements of specific performance then we can evaluate how they relate to each scenario. “In some situations‚ damages are an inadequate remedy for a breach of contract…equitable remedies include rescission and restitution‚ specific performance‚ and reformation” (Miller & Jentz‚ 2009). Specific performance
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Introduction An injunction is an equitable remedy in the form of a court order that requires a party to do‚ or to refrain from doing‚ certain acts. A party that fails to comply with an injunction faces criminal or civil penalties and may have to pay damages or accept sanctions. In some cases‚ breaches of injunctions are considered serious criminal offenses that merit arrest and possible prison sentences. Emergency injunctions that are in effect only a short time are called temporary restraining
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Business Economics 201 Chapter 23: Measuring a Nation’s Income Macroeconomics: a study of the nation’s economy as a whole with a goal of explaining the changes that affect many households‚ firms‚ and markets simultaneously GDP: measures the total income of everyone in the economy and the total expenditure on the economy’s output of goods and services income must equal expenditure every transaction has a buyer and seller Can be computed by adding up expenditure by households or total income
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Uses of Computer in Field of Business Computer in business: Information Technology (IT) has played a very significant role in taking business to new height. Before computers‚ the time taken to complete a task was more and however as computer started to be used in business establishments‚ the processing of work got more stabilized. Some of its uses in the field of business are given below: Keeping records: Computer programs such as QuickBooks and other accounting programs
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The Use of Second Life in Business Abstract Second Life and other virtual worlds like it are quickly becoming one more in an arsenal of mainstream applications that business are using to gain an edge on their competitors. However‚ since virtual worlds are still in the infancy stage‚ the ways that companies can best use them to further their goals is still under development. This paper takes a look at how businesses are using virtual worlds in the areas of brand and service expansion‚ virtual human
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northeastern parts of the US‚ such as New York. During this time the need for school social workers was evident due to the Great Depression and the increase in federal legislation concerning school laws (Dupper‚ 2003‚ pg.12). As time progressed the use of school social workers became more useful in schools‚ although currently there is a shortage in the number of school based social workers. According to Dupper‚ the educational system realized that the social and mental health needs of students should
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