Premium Essay

Eco/101

In:

Submitted By mrsgaryf
Words 682
Pages 3
Economics 101
By
Alicia Fletcher
April 29, 2013
ECO/372
Shah Danyal

Economics 101

The gross domestic product is the output of goods and services provided by labor and property located in the US. The measurement is used to determine the growth of the economy and can determine what areas may need a boost in their output to help the economy grow. An inflation-adjusted measure that reflects the value of all goods and services produced in a given year, expressed in base-year prices. Often referred to as "constant-price," "inflation-corrected" GDP or "constant dollar GDP". Real GDP is the nominal GDP plus adjustment for inflation. Real GDP is also called per capita real output which is where the total population divides the real GDP. Unlike nominal GDP, real GDP can account for changes in the price level, and provide a more accurate figure. Nominal GDP is a gross domestic product (GDP) figure that has not been adjusted for inflation. Also known as "current dollar GDP" or "chained dollar GDP.” ("Invetopeida", 2013) The unemployment rate is the percentage of the total labor force that is unemployed but actively seeking employment and willing to work. Inflation is defined as a sustained increase in the general level of prices for goods and services. It is measured as an annual percentage increase. ("Invetopeida", 2013) As inflation rises, every dollar you own buys a smaller percentage of a good or service. Interest rate is the amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets. Purchasing groceries has an affect on government, households and businesses. Groceries are part of the household and will affect the amount of expenditures in the household. By purchasing groceries you are giving the businesses income to purchase additional products. Since the business is buying additional products this in turn

Similar Documents

Premium Essay

Eco 101

...1. Define explicit and implicit costs. The opportunity cost equal to what a firm give up in order to use factors which in neither in purchases or hires. It’s the opposite of an explicit cost, which is borne directly. 2. Define Normal Profit and explain why it is an implicit cost. The difference between total revenue and total costs (explicit and implicit costs) equals zero, and it is an implicit cost because opportunity cost is considered in it. 3. Define Economic Profit, Short Run and Long Run. The difference between the revenue received from the sale of an output and the opportunity cost of the inputs uses. Profit in the short run is that when a period is short enough that some of the firm can’t be varied. Profit in the long run is when the period is long that inputs can be varied. 4. Define Total Product and Marginal Product, and Diminishing Returns. TP: is the total amount produced by a firm during time period. MP: is the extra unit of output obtained by one extra unit of some factor, all other factors being held constant. 5. Calculate MP for the following: Labor Total Product 0 100 1 220 2 350 3 450 Graph the TP and MP functions for the above data. Show on the graphs the point at which diminishing returns begins. 6. Define Total Costs, Total Fixed Cost, and Total Variable Cost. Show the curves representing each of these costs on one graph. The total cost of production is made up of variable...

Words: 1055 - Pages: 5

Free Essay

Module 07

...Decide were to apply ACL and in which directions. There for I will place the access list on F0/0 of 2811 the nearest port of 182.64.0.0 R1>enable R1#configure terminal Enter configuration commands, one per line. End with CNTL/Z R1 (config) # access-list 101 deny ip host 182.64.0.0 182.62.0.0 0.0.0.0 R1 (config) # access-list 101 permit ip any any R1 (config) # interface fast Ethernet 0/0 R1 (config-if) # ip access-group 101 in R1 (config - if) # exit R1 (config) # Now I will block host to network R1 (config) # access-list 102 deny ip host 182.64.0.0 182.62.0.0 255.255.255.255 R1 (config) # access-list 102 permit ip any any R1 (config) # interface fast Ethernet 0/0 R1 (config-if) # ip access-group 102 in R1 (config - if) # exit R1 (config) # Block all telnet R1 (config) # access-list 104 deny ip host 182.64.0.0 182.62.0.0 0.0 0.0.0.0 eq23 R1 (config) # access-list 104 deny ip any any eq23 R1 (config) # access-list 104 permit ip any any R1 (config) # interface fast 0/0 R1 (config-if) # ip access-group 104 in R1 (config - if) # exit Block all ftp traffic R1 (config) # access-list 103 deny ip host 182.64.0.0 182.62.0.0 0.0 0.0.0.0 eq23 R1 (config) # access-list 103 deny ip any any eq23 R1 (config) # access-list 103 permit ip any any R1 (config) # interface Ethernet 0/0 R1 (config-if) # ip access-group 103 in R1 (config - if) # exit Reference Cisco. (n.d.). Configuring Commonly Used IP ACLs. Retrieved from       http://www...

Words: 355 - Pages: 2

Free Essay

Nature vs. Man

...English 122 Nature vs. Man In the world now there are views of what can or should be done with the environment, use what is available to save any animal/plant/bug for the future. Then there are the options that go between those two extremes. Looking at some of the views from our readings as well as other sources, we’ll see what is looked at as right and wrong ways to use and preserve nature. There are many views on how the Earth should be used or preserved, but the how to do it with the world’s increasing population makes the answer so important to those that will come after us. While not about nature, Aldous Huxley’s “Time and the Machine” talks about time and how man has made himself a slave to time. Knowing that we have a limited amount of time in our lives, many want to do as much to fill that time as can be done. Most in the western world view time as something that needs to be taken advantage of, that there’s always a deadline for creating or making something. In some eastern cultures, there isn’t the hurry seen like we have. They aren’t as concerned for man-made time as they have “not been made conscious of the existence of minutes.” (Huxley, 366) He goes on to say that people living in large cities can live “without being aware of the daily march of the sun across the sky; without ever seeing the moon and stars.” (Huxley, 366) This goes to show that people are too into the passing of time and don’t look at taking time to relax and exist with nature. ...

Words: 1048 - Pages: 5

Free Essay

Eco Terrorism

...Eco Terrorism Eco-terrorism is the term used to describe the violence in the interests of environmentalists. There have been cases when environmentalists have inflicted damage to the industrial factories, due to the fact that, they cause pollution and other environmental problems. According to Manning (2012), “Eco-terrorism can be defined as the act of violence or sabotage against person and property commits and support animal right activist.” There are some organizations that participate in it, such as, Earth Liberation Front (ELF) and Animal Liberation Front (ALF). These organizations managed to burn down a ski resort and blow up a laboratory among other things. On the other hand, some groups such as the Sea Shepherd Conservation Society are labeled as eco-terrorists although they do not commit such acts of violence against humans- they do not attempt to injure or kill people, but only provoke people through property. This has led to a debate that touches on whether or not to classify these actions as "terrorist" or not. The FBI has given the environmentalists a definition ‘the use or threatened use of violence of a criminal nature against innocent victims or property by an environmentally-oriented, sub national group for environmental-political reasons, or aimed at an audience beyond the target, often of a symbolic nature.’ John Lewis, a top FBI official says, ‘The number one domestic terrorism threat is the eco-terrorism, animal-rights movement.” Eco-Terrorists...

Words: 959 - Pages: 4

Premium Essay

Strategy

...Internship Report on | | A Study of BRAND REPOSITIONING STRATEGIES AND BRAND PERCEPTION OF CITIZEN ECO DRIVE WATCHES By Vivek Kumar 149010108 (BIM BANGALORE) To Bharathidasan Institute of Management Period (March 2009 –30th May 2009) Declaration I hereby declare that that the dissertation titled “A Study of BRAND REPOSITIONING STRATEGIES AND BRAND PERCEPTION OF CITIZEN ECO DRIVE WATCHES” is done for partial fulfillment of internship which is a part of study “under the guidance of Sharon Andrew and I have invested my earnest effort to accomplish the task and it has not been submitted anywhere for any other award. Where ever I had made any references I have furnished the source of information and they have been acknowledged. Vivek Kumar PGDBM BATCH-06 Bharathidasan Institute of Management ...

Words: 8820 - Pages: 36

Free Essay

Argument Essay

...Mercedes Davis English 091 March 11, 2011 An Open Reader Reading is the foundation of our life. Without reading we would be like lost souls in the world. Everywhere we go and anything we do we have to read; at work, school, driving, etc. People who do not know how to read are limited in life, they cant get a job, and the everyday life would be a struggle. Someone who knows how to read has no restrictions, the sky is the limit for them, they are our lawyers, doctors, and teachers. In Moody’s article “The Joy and Enthusiasm of Reading”, he expressed his love for the unpopular selections, and how he learned how to dissect his readings. Moody also states that nobody will ever be able to tell him how to read, and also believes there is no right or wrong way to read. In Moody’s article “The Joy and Enthusiasm of Ready”, he explains his high school and college reading experiences. He tells us how his, Mr. Buxton, taught him how to analyze Shakespeare’s Macbeth. Mr. Buxton did not give him his own interpretation and made sure Moody noticed how Shakespeare repeated somethings to help Moody come to a conclusion. In eleventh grade Moody’s teacher Mr. Flanders encouraged Moody to develop his own relationship with the Gospels, in his religious studies. Then Moody continued onto college where he read Umberto Eco’s Role of the Reader, where he was introduced to Eco’s “Open Text” philosophy. He also read some of the great European and Latin Americans articles. After his...

Words: 621 - Pages: 3

Free Essay

Classical Argument: Earthquakes

...Adrian Howley Classical Argument Reporting earthquakes are very critical to studying the behavior of tectonic plates. The very first recorded earthquake occurred in the year 1831 B.C. and is currently known today as the 526 Antioch Earthquake. The area affected was Antioch, China (located between the Syria and Turkey regions). Not much is known about how the report was formed. However, this historic report did include information about how the aftershocks lasted for twelve months. Other details from this report indicate that the death toll is around 250,000 to 300,000 casualties. Scientists today can only prove that the earthquake occurred between May 20 and May 29 (date translated from B.C. to Calendar Year). The first instrument to measure the seismic waves of earthquakes was invented by Charles F. Richter at the California Institute of Technology. (Bellis, 2013) He introduced his new instrument called the Richter scale, to the world of science. His invention allows scientists today to study the mechanics behind earthquakes and locate the epicenter to which the natural disaster originated. The largest earthquake recorded by the Richter scale was measured on May 22, 1960 at a magnitude of 9.5. The quake resulted in 1,886 deaths, 2,000,000 homeless, and $1,175,000,000 total in damages. (“The Largest Earthquake”, [PDF file]) If we want to see these large numbers slide down to zero, the impossible will need to be challenged by science. Skyscrapers are buildings consisting...

Words: 914 - Pages: 4

Free Essay

Building the Burj Khalifa

...Building the Burj Khalifa: Main: Chronological order 200 Mechanical, electrical and plumbing: air conditioning (temperature), 300 Safety – (getting everyone out) refuge rooms 300 Elevators– mention of transition from steam to motor and latched systems and electrical brakes and coping with load 100 Spire 100 Maintenance - Broadcast and communications floors, Mechanical Floors Conc: How it has progressed engineering and enabled more (buttress structure). Future plans – The kingdom Tower in Saudi (1km into the sky) Building potential: Space elevator, new arising problems, strength of materials, what that would mean and enable if possible. Throughout history, progression and advancement in technology has fundamentally separated us from our evolutionary antecedents, enabling a life of greater comfort, extravagance and an increased ability to procreate and sustain ourselves. This improvement is especially apparent in the world of architecture and civil engineering, where there has been an unremitting ambition to surpass the existing boundaries, particularly with regards to height. The most renowned early example of a structure where height was key are the Pyramids of Giza where elevation was crucial in order to radiate power and divine authority. The tallest pyramid, standing at 146.5m, was built more than 4500 years ago, and remained the tallest manmade structure for the next 3800 years, until the 1300s when Lincoln Cathedral was built topping it by only 13.5m [1][2]...

Words: 3583 - Pages: 15

Premium Essay

Tallest Building In The World Essay

...western hemisphere. High building consists of approximately 104 standard floor is 541 meters. This building was opened in November 2014. One World Trade Center (Freedom Tower) looks like a pyramid when viewed from the road surface near to the building, as seen in the image of the building. https://timedotcom.files.wordpress.com 7. Taipe 101 (509m) This building is located in Taipei, Taiwan. Height of the building is 509 m with the total floors are 101. In many cases, the building is recognized as one of the most advanced skyscrapers in the world. One of the superiorities of this building is having a fiber-optic and internet connection satellite which can reach speeds of 1 gigabyte per second. Besides, the elevator building also was fastest than Burj Khalifa, 63 km/hour means that to reach the 89th floor, it only takes 39 seconds. The building was already used in 2004 has a sophisticated tools that can stabilize the building from the force of earthquakes and hurricanes. http://www.taipei-101.com.tw/ 8. Shanghai World Financial Center (492m) The tower is located in Pudong, Shanghai, China and has a height of 492 m with the floors total 101. The top floor is 474 m and was built in 1997-2008. The most distinctive of this building is the trapezium aperture at the top. Aperture with a diameter of 46 m it functions for reducing the pressure of the wind. And the uniqueness of this building if we observed it looks like a giant corkscrew. http://www.maersk.com/ 9. International...

Words: 1169 - Pages: 5

Free Essay

Photography

...Photography Photography * Transforms the passing moment of a three dimensional event into a frozen instant reduced in size on a flat piece of paper. * Transforms a three dimensional composition into two dimensional. Uses of Photography in the Philippines * Portraiture * In the Philippines, the first forms of photos were of the size of calling cards called cartes de visite (4” x 2 ½”) and the tarjeta (3 ½” x 5 ½”) used for mailing as a postcard. * In the 1800’s, photo studios sprouted in Sta. Cruz, Binondo and Quiapo. * Life-size photos are hung in living rooms and became status symbols. * Research and Documentation * Photo journalism became a field which shows a visualized history through photos captured in actual events. * Travel and Tourism * Photos are used widely to promote the beauty of the country like photos of colorful festival celebrations, beautiful tourist spots and night life posted in the net and magazines. * Propaganda * Used as an effective communication tool to promote political messages. * Photos are also incorporated in the campaign materials of the government. * Advertising * Photographs are used to sell products, services and personalities. * Billboards and print ads used photographs more than text to sell. * Artists’ tool and art medium * Augusto Fuster is the first painter who used photographs to composed pictures as paintings. * Photographs are also used by artists...

Words: 2084 - Pages: 9

Free Essay

Most Inspiring Qoutes of All Time

...SUCCESS QUOTES Your Ultimate Inspirational Guide By Patric Chan “Enrich Your Mind, Unleash Your Potential. Success Begins Within You.” http://www.esuccessmastery.com * Anthony Robbins * Dale Carnegie * Dr. Stephen Covey * Brian Tracy * Jim Rohn * * Napoleon Hill * Mark Victor Hansen * Robert Kiyosaki * Brought to you by : Noel Hynes http://ebookdirectory.com Congratulations on taking the first step toward achieving success!! Why I wrote and compiled this ebook ... Because I know how you feel. The burning desire for success and the determination you have to achieve it. The rich knowledge and resources provided in this ebook had been read personally by me, and I had benefited from it. I guess, all the featured successful men in the ebook don’t have to be introduced anymore as I’ll assume that you would have heard of them. If you do not know about them yet, just type their name in the search engine and you will find them. I will only recommend authors and coaches whom I know from my personal experience who are successful and inspirational. If you sell the product in which you believe in or you have benefited from personally, you will be a very successful person. I’ll always prefer to promote the products/services that I had used, reviewed, joined or read before. We live in abundance of wealth today. There is no limit to our earnings; we have the capacity to earn extraordinary income if we are determined to achieve it. What is most important is how we deliver our...

Words: 7593 - Pages: 31

Premium Essay

Effects

...5 BEST PLACES TO VISIT IN THE WORLD | | BURJ KHALIFA, DUBAI * It is a skyscraper in Dubai, UAE. * It is the tallest man-made structure in the world, standing at 829.8 m (2,722 ft). 1)At 828 meters (2,716.5 feet) tall, Burj Khalifa is 3 times as tall as Eiffel Tower and twice as tall as the Empire State Building.2. Burj Khalifa holds the world Records on: tallest freestanding structure in the world, highest number of stories in the world, highest occupied floor in the world, highest outdoor observation deck in the world, elevator with longest travel distance in the world, and tallest service elevator in the world.3. It is said that the weight of concrete used to build the skyscraper is equivalent to 100,000 elephants and the steel used to construct the frame is equal to that of 5 Airbus 380 aircrafts.4. The building design takes after the Greek flower, Hymenocallis. The name is translated as Beautiful Membrane in Greek.5. The building was constructed by a South Korean Company called South Korean company, Samsung Engineering and Construction.6. Burj Khalifa was built at a cost of $1.5 billion, It is supplied with about 250,000 gallons of water daily, and its electricity needs can go up to 360,000 100-watt bulbs burning at once.7. During the peak of construction, atleast 12,000 workers worked on the construction site per day.8. The tip of the sphere of Burj Khalifa can be seen from 95 kilometers away.9. The tower was to be called Burj Dubai but this was changed at...

Words: 395 - Pages: 2

Free Essay

What Are the Key Aspects in the Construction and Design of the Burj Dubai Tower?

...structure. The Burj Dubai, situated in Dubai, will soon be the tallest building in the world, bypassing the previous record holder, the Taipei 101 by almost 290 metres giving it an astonishing 800 metre height. With over 2700 feet, designing and constructing such a vast building has given significant challenges to engineers and designers alike. Since the building can hold up to 35,000 people at once, it is essential that it is strong, comfortable and able to move people up and down it at a steady rate. This essay will explore how the designers and engineers went about solving these issues. One of the key problems the engineers had to overcome was effect of the wind load and how it would affect the building motions due to the extraordinary height of the tower. Wind load is something that must be taken into account for all buildings, but obviously the wind velocity increases the higher you go and since the structure is over 800 metres tall, there is guaranteed to be a large wind force acting on the building. Three different engineering firms: Skidmore, Owings and Merrill who were all working on the project, hired the RWDI (Rowan Williams Davies & Irwin Inc.) a wind and environmental engineering firm to conduct wind studies on the Burj Dubai’s design. The RWDI had worked on a number of previous projects such as the Petronas Towers and the Taipei 101 and its facilities included four boundary wind tunnels. Their job was to minimize the effects of the wind load and building motion of the...

Words: 2012 - Pages: 9

Free Essay

My Journal Entry 1

...Entry 1 (24th September 2012) It's exactly 12:01 am now, and seeing that this is my first entry, I should update a little of myself. I'm currently at Taiwan for a short vacation with my high school friends of about 10years. And they are Lee Sue Ee, Soh Pei Ling, and Chong Yee Wun. We arrived here on Saturday, 22nd September 2012, and so far it has been an hectic journey seeing that we are here on our own for the first time and we did not go through any travel agency. Enough of updating, I just finish my STA assessment and e-mailed it to my group mates to submit later in the morning. I just hope that I did good enough despite my heavy schedule and with little initiative. Oh yes, I am now in my room while the girls are sleeping and the view is just amazingly breath-taking. How fortunate i am that I could do my assignment while looking at this sea view. The sound of the rushing waves eases my mind to relaxation and light music as my background to suit my emotion. The only thing that lack, is a partner to share this spectacular moment. Anyway, I should sleep now. Gotta be up early later for another tour around the north-east Taiwan before heading to the capital city Taipei later in the evening. I will update my entry again later whilst exploring every possibility here. Good Night ! Good afternoon, it was quite a day after waking up restlessly. Breakfast here was amazing, I mean, what more can we ask with such nature phenomenal as our spectacular view. After finishing our...

Words: 701 - Pages: 3

Free Essay

Seven Wonders of 21st Century Architecture

...Seven Wonders of 21st Century Architecture You may not be able to name them all, but most people have at least heard of the 7 Wonders of the Ancient World. Here’s a list with links: Great Pyramid of Giza, Hanging Gardens of Babylon, Temple of Artemis, Statue of Zeus at Olympia, Mausoleum of Halicarnassus, Colossus of Rhodes, and the Lighthouse of Alexandria . Of the seven, only the Pyramid remains, the rest we know of only through historic documents.[1] There have been other “7 Wonders” lists and in 2007, the Swiss government sponsored a project to create a new list, with selections made by popular vote. Over 100 million votes were cast, and the new 7 Wonders were announced as follows: Chichen Itza (the Yucatan, Mexico pyramid), Christ the Redeemer (Brazil’s enormous statue of Jesus), Colosseum (Rome’s arena of Gladiators),Great Wall of China (you can see it from space!),Machu Picchu (ancient city built on an unbelievably high mountain top in Peru),Petra (Jordan’s city cut directly into the side of a stone mountain ),and the Taj Mahal (India’s majestic temple/mausoleum).[2] But my final Cyber Journey of the semester started not as a stroll through history, but as a trip into the future of arts and Architecture with a look at another “7 Wonders” list – The 7 New Wonders of the 21st Century [3], as selected by Architecture, an online review published by the website Quazen. With no further ado, here are the 7: * Millau Viaduct http://en.wikipedia.org/wiki/Millau_Viaduct ...

Words: 771 - Pages: 4