...down along the supply curve of wheat. C) a rightward shift in the supply curve of wheat. D) a leftward shift in the supply curve of wheat. 5) If total expenditure remains constant after price is increased, demand is: A) inelastic. B) perfectly elastic. C) unitarily elastic. D) perfectly inelastic. 6) The short run, as microeconomists use the phrase, is characterised by: A) a period where the law of diminishing returns does not hold. B) no variable inputs - that is all of the factors of production are fixed. C) all inputs being variable. D) at least one fixed factor of production and firms neither leaving nor entering the industry. 7) Philippa grows lettuces to sell. This is a perfectly competitive business and Philippa faces a perfectly elastic demand curve. If she wants to try to increase revenues she should: A) lower the price of her lettuce to try to sell more. B) keep the price the same but produce more to increase sales. C) do nothing; there is nothing she can do to increase revenues. D) raise the price of her lettuces to make more per sale. 8) For a profit maximising monopolist to sell more...
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...Rally Round the Trade Name 1) Explain whether or not the fact that Gabby’s surname is Rally gives her the right to use it any way she wishes. I believe that Gabby has the right to use her surname “Rally” in her pizza business because it’s a different business and is not harming the Rally motor business As long as it’s a different type of business, then Gabby can use the last name “Rally.” Now, if Gabby wants to open up an auto business, she cannot use Rally as the name of the business because it will be confliction with the already existing business. A name or a trademark is what differentiates a business from any other business. Each business name must be unique according to its form or type of business. Just like two corporations cannot have the same name within a state, two auto businesses in the same town cannot have the same name. Gabby cannot use her last name in any way she wishes to. If there already exists a business named “Gabby’s Auto’s” she cannot open another auto shop with that same name. If she were to be allowed to do so, confusion will be created amongst consumers. It would be unclear to which “Gabby’s Autos” one is referring to so she would have to change the name of her business to something else, something more distinguishing that would avoid any kind of confusion. Just because her last name is Rally, it doesn’t give her the right to use it as she pleases. If this were the case, millions of businesses would have the same name worldwide and there would...
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...ECONOMICS EXAMINATION GUIDELINES GRADE 12 2014 These guidelines consist of 25 pages. Copyright reserved Please turn over Economics 2 Examination Guidelines DBE/2014 INDEX PAGE 3 1. INTRODUCTION 2. ASSESSMENT IN GRADE 12 2.1 Format of the question papers 2.2 Detail of question papers 4 4 4 3. CONTENT 6 4. CONCLUSION Copyright reserved 25 Please turn over Economics 1. 3 Examination Guidelines DBE/2014 INTRODUCTION The Curriculum and Assessment Policy Statement (CAPS) for Economics outlines the nature and purpose of the subject Economics. This guides the philosophy underlying the teaching and assessment of the subject in Grade 12. The purpose of these Examination Guidelines is to: • • Provide clarity on the depth and scope of the content to be assessed in the Grade 12 National Senior Certificate (NSC) Examination in Economics. Assist teachers to adequately prepare learners for the examinations. This document deals with the final Grade 12 external examinations. It does not deal in any depth with the School-Based Assessment (SBA). This guideline should be read in conjunction with: • • • The National Curriculum Statement (NCS) Curriculum and Assessment Policy Statement (CAPS): Economics The National Protocol of Assessment: An addendum to the policy document, the National Senior Certificate: A qualification at Level 4 on the National Qualifications Framework (NQF), regarding the National Protocol for Assessment (Grades R–12) The national policy pertaining...
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...Why is business ethics important? Please select all that apply. Question options: | 1) | Business has greater power and influence in society than ever before. | | | 2) | Business has the potential to provide a major contribution to our societies. | | | 3) | Business malpractices have the potential to inflict enormous harm on individuals, communities and the environment. | | | 4) | Business continues to violate ethics, across countries and sectors. | | View Feedback | Question 2 | | 1 / 1 point | The law can be said to be a definition of the minimum acceptable standards of behaviour, with many morally contestable issues not covered by the law. What does this imply for business ethics? Question options: | 1) | In a sense, business ethics can be said to begin where the law ends. | | | 2) | Businesses should prevent laws from being enacted so as to give themselves maximum freedom to act. | | | 3) | Business ethics is about uncovering the definitive answer to business ethics problems in the absence of guidance from the law. | | | 4) | The other three answers are all correct. | | View Feedback | Question 3 | | 1 / 1 point | A sex shop might call itself ethical because it... Please select all that apply. Question options: | 1) | sells sex toys made with environmentally friendly materials. | | | 2) | uses fair trade materials in its toys and aides. | | | 3) | provides philanthropic support for...
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...concepts to business decisions. Students learn important criterion for developing effective research questions, including the creation of appropriate sampling populations and instruments. Other topics include descriptive statistics, probability concepts, confidence intervals, sampling designs, data collection, and data analysis – including parametric and nonparametric tests of hypothesis and regression analysis. Cooper, D.R., & Schindler, P.S. (2006). Business research methods (9th ed.). Boston, MA: McGraw-Hill/Irwin. Lind, D. A., Marchal, W. G., & Wathen, S. A. (2008). Statistical techniques in business and economics (13th ed.). Boston, MA: McGraw-Hill/Irwin. All electronic materials are available on the student website. |Week One: Descriptive Statistics and Probability Distributions | | |Details |Due |Points | |Objectives |Compute descriptive statistics for given data sets. | | | | |Apply probability concepts related to discrete and continuous probability. | | | |Readings |Read Ch. 3, 5, 6, & 7 of Statistical Techniques in Business & Economics. ...
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...School of Business, Shantou University Course Syllabus |Course Name |Course Code |Credit |Class Hours | |Macroeconomics |BUS1035 |2 |32 | 1. Course Objectives To provide a basic understanding of economic reasoning, economic theory and economic policy, particularly for the study of the economy as a whole. Throughout the course, students will be introduced to: ● Define Gross National Product, Gross Domestic Product, Net National Product, National Income, Personal Income, and Disposable Income ● Explain the purpose of a price index, use a price index to calculate the rate of inflation, and distinguish between Demand-Pull inflation and Cost-Push Inflation ● Define unemployment in China, calculate unemployment and employment rates, and differentiate between frictional, cyclical, structural and seasonal unemployment ● Describe the phases of the business cycle and economic growth ● Explain the role of money and monetary policy ● Explain fiscal policy 2. Course Description/ Intended Learning Outcomes (Course ILOs) An introduction to the basic principles of economics with emphasis on the macroeconomic aspects of the entire economy. It deals with national income, national output, national employment, inflation, cyclical business fluctuations, economic growth,...
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...Professor of Finance and International Business at James Madison University. He is an author of several business articles and has been featured in many business journals. His main purpose of this article is to get the reader to understand the differences between the cultures, decision-making, and employment strategies of Japan and the United States. This topic is suitable for my research paper because it helps me answer the first research question, which deals with the elements and dimensions of culture of Japan. Fukuda, J. (1992). The internationalization of Japanese business: different approaches, similar problems. The International Executive , 34 (1), 27-41. John Fukuda is a professor in the department of the International Business at the Chinese University of Hong Kong. He has written peer reviewed articles for the International Executive. His main purpose for this article is to get the reader to understand the Japanese's approach to business versus the other countries. This article is suitable for my research paper because it helps me to answer question numbers 1 and 2 of the Business cultural analysis. Fukukawa, K., & Teramoto, Y. (2008). Understanding Japanese CSR: the reflections of managers in the field of global operations. Journal of Business Ethics , 85 (1), 133-146. Kyoko Fukuawa is a Senior lecturer in marketing at Bradford University School of Management. Her publications appear in the Journal of Business Ethics and Journal of Corporate Citizenship...
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...ECON1202 Quantitative Analysis for Business and Economics Course Outline Semester 1, 2014 Part A: Course-Specific Information Students are also expected to have read and be familiar with Part B Supplement to All Course Outlines. This contains Policies on Student Responsibilities and Support, Including Special Consideration, Plagiarism and Key Dates. It also contains the ASB PROGRAM LEARNING GOALS. Table of Contents 1 STAFF CONTACT DETAILS 1 1 1 2 2 2 2 2 3 3 5 5 5 5 6 7 7 8 8 8 8 9 10 11 11 11 12 13 13 15 1.1 Communications with staff 1.2 Pitstop and PASS 2 COURSE DETAILS 2.1 Teaching Times and Locations 2.2 Units of Credit 2.3 Summary of Course 2.4 Aims and Relationship to Other Courses 2.5 Presumed Knowledge 2.6 Student Learning Outcomes 3 LEARNING AND TEACHING ACTIVITIES 3.1 Approach to Learning and Teaching in the Course 3.2 Learning Activities and Teaching Strategies 3.2.1 Lectures 3.2.2 3.2.3 3.2.4 4 Tutorials Computing component Out-of-Class Study ASSESSMENT 4.1 Formal Requirements 4.2 Assessment Details 4.3 Tutorial Participation 4.4 Online Quizzes 4.5 In-tutorial Tests 4.6 Final Exam Format 4.7 Quality Assurance 5 6 7 COURSE EVALUATION AND DEVELOPMENT COURSE RESOURCES COURSE SCHEDULE 7.1 Lecture Schedule 7.2 Tutorial Schedule 1 STAFF CONTACT DETAILS Lecturer-in-charge: Dr Arpita Chatterjee Room: ASB 430C Phone: No: 9385 4314 Email: arpita.chatterjee@unsw.edu.au Consultation Times: Tuesday 2 – 5 pm Lecturer: Dr April Cai Room 432, ASB Building Ph 9385...
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...Global Business Today 6e by Charles W.L. Hill McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 2 National Differences in Political Economy Introduction Question: What is the political economy of a country? A country’s political economy refers to its political, economic, and legal systems These systems are interdependent, and interact and influence each other A country’s political system has major implications for the practice of international business 2-3 Political Systems A political system is the system of government in a nation Political systems can be assessed in terms of the degree to which they emphasize collectivism as opposed to individualism in terms of the degree to which they are democratic or totalitarian 2-4 Classroom Performance System The political, economic and legal systems of a country are called a) Political systems b) Economic systems c) Legal systems d) Political economy 2-5 Collectivism and Individualism Collectivism refers to a system that stresses the primacy of collective goals over individual goals Collectivism can be traced to the ancient Greek philosopher Plato Today, socialists support collectivism When collectivism is emphasized, the needs of the society as whole are generally viewed as being more important than individual freedoms 2-6 Collectivism and Individualism Socialism Modern socialists trace their roots to Karl Marx who advocated state...
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...Question 1. :-Define economics? Answer:-It is the study of allocation of resources available to organization or business. It is fundamentally concerned with the art of economizing i.e. making rational choice to yield maximum return of output in minimum resources & efforts by selecting best alternative course of action among various. Question 2. : - Contraction and extension of demand? Answer:-A variation in demand implies “extension” or “contraction” of demand. When with a fall in price more of a commodity is bought there is an extension of demand. Similarly, when a lesser quantity is demanded with a rise in price there is a contraction of demand. In short demand extends when the price falls and it contracts when the price rises. Both of the terms are technically used in stating the law of demand. Question 3. :-Opportunity cost / alternative cost? Answer:-It is measure in terms of the forgone benefits from the next best alternatives use of a given resources in simple words scarifies or loss of alternative use of a given resource is turn as an opportunity cost. The alternative or opportunity cost of one unit of product A is the amount of product B that has been sacrificed by allocating the resources to produce A rather than B. Question 4. :-Low of Demand? Answer:-According to Ceteris Paribus, “The higher the price of the commodity the smaller is the quantity demanded and lover the price larger the quantity demanded other things remain...
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...G Question 2 a) How was Poland able to avoid the worst effects of the economic crisis that gripped most of Europe during 2008-2009? Answer: There are three points that Poland able to avoid the worst effects of the economic crisis that gripped most of Europe during 2009-2009. Firstly, Poland has a stable economic policy. Poland government keeps the public debt in check and they don’t allow it to expand during the recession. Because of the main sources of economic crisis come from debt, stable economic policy can maintain the basic economic activity as Poland government does not need to pay a huge of debt. Polish debt-GDP ratio is about 23% in 2007 only. It’s lower than other countries. (Reference1) Secondly, free market and free trade policy helps a lot in maintaining polish economy. Free market attracts many investors to invest in Poland. This table shows that The FDI stock of Poland is about 53 billion which are higher than other countries. (Refrence2) The last factor is Poland has a stability and development plan. It aims at strengthening the polish economy during the world financial crisis and it amount up to 91.3 billion zloty in activities to stimulate investment in the polish economy. The first goal of Poland’s stability and development plan is prevent overheated economy. Poland was designed to curb inflation and ease Poland’s entry into the European Union in the early 2000s by using tight MPC. The inflation rate of Poland is lower than 5% after tight MPC policy...
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...Answers Question 1 A key advantage of a corporation is that Question 2 A _____ is a voluntary agreement between two or more people to jointly own a business. Question 3 _____ are organizations, such as mutual funds, insurance companies, or pension funds, that pool contributions from a large number of investors, clients, or depositors to buy stock and other securities. Question 4 What are the three types of partnerships? Question 5 A _____ maintains limited liability but offers more flexibility in terms of tax treatment than other forms of business ownership. Question 6 In an acquisition, the firm being purchased is the _____ and the firm which is purchasing the other firm is the _____. Question 7 A statutory close (or closed) corporation gives its shareholders Question 8 A company must register as a foreign corporation if they Question 9 The most effective way to form a general partnership is Question 10 From the standpoint of an owner, a major advantage of the sole proprietorship is the: BUS 100 Quiz 3 Answers BUS 100 Week 3 Quizzes New 2015 Question 1 _____ is a structure for allocating scarce resources. Question 2 The economy, as a system, represents the Question 3 _____ refers to actions that shape the economy by influencing interest rates and the supply of money. Question 4 ...
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... International Economics and Business (Course code: 308) Instructor: Dr. Mahima Sharma (A+B+D), Mr. Mohd. Irfan (C+E) Course Credit: 3 Number of Sessions: 24 Office Ext: 236, 269 Course Overview/objective: There are new realities that are critical for today’s students to embrace with the remarkable changes that are taking place in the cross border flow of products, services, capital, technology and people. Today both the volume of international trade and the level of firms’ internationalization are increasing at a fast pace creating newer opportunities and challenges for business. With this fact in mind, this course has been designed to prepare the future managers to grasp and comprehend the economic forces behind international business operations (as for instance -why does international trade take place? or why do firms invest overseas?) and the economic consequences of such operations( as for instance effect of international trade on production and consumption or effect of international trade on exchange rates. The contents of the course will familiarize the students with various fundamentals of international economics theory and also understand the linkages between these economic concepts and their implications for business. (As for instance the creation of a regional trade block and its implications for various sectors of business in the integrating countries) ...
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...Measuring GDP and Economic Growth 1 Gross Domestic Product 1) Gross domestic product is the total ________ produced within a country in a given time period. A) market value of all final and intermediate goods and services B) market value of all goods and services C) amount of final and intermediate goods and services D) market value of all final goods and services Answer: D Topic: GDP Skill: Recognition Question history: Previous edition, Chapter 4 AACSB: Reflective Thinking 2) Gross domestic product A) includes all the goods and none of the services produced in an economy in a given time period. B) measures the value of the aggregate production of goods and services in a country during a given time period. C) measures the value of labor payments generated in an economy in a given time period. D) is generally less than federal expenditure in any time period. Answer: B Topic: GDP Skill: Recognition Question history: Previous edition, Chapter 4 AACSB: Reflective Thinking 3) Gross domestic product is a measure of the total value of all A) sales in an economy over a period of time. B) consumer income in an economy over a period of time. C) capital accumulation in an economy over a period of time. D) final goods and services produced in an economy over a period of time. Answer: D Topic: GDP Skill: Recognition Question history: Previous edition, Chapter 4 AACSB: Reflective Thinking Copyright © 2012 Pearson Education, Inc. Chapter 4 Measuring GDP and Economic Growth 493 ...
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...Economics Week | Lesson | Learning Goals | Due Date | 1 | 01.00 Welcome to Economics01.01 How Do I Plan for Success? 01.02 What is Economics? 01.03 Why Can’t I Have It All?01.04 Demand 01.05 Supply 01.06 The Soap Opera of Supply and Demand | After completing 01.00 you will be able to: * navigate your economics course * identify how different elements of society are interconnected by economics * print and utilize the module checklist to identify lessons and assessments in this module * identify the essential questions in this moduleAfter completing 01.01, you will be able to: * understand course requirements and honors credit requirements * comprehend the pace options * examine collaboration expectations * define and explain the purpose of studying economics * complete a module pre-assessment to assess your prior knowledgeAfter completing 01.02, you will be able to: * define the study of economics * analyze ways that economics influences our daily lives * identify three basic economic questions: What will be produced? How will it be produced? For whom will it be produced?After completing 01.03, you will be able to: * apply the concepts of scarcity and opportunity cost to explain why choice is necessary * analyze situations creating opportunity cost in your life and the world around you * justify the choice you make based on a costs and benefits analysisAfter completing 01.04, you will be able to: * differentiate between demand and quantity demanded...
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