...(Tutorial 1) Chapter 2 Market Forces: Demand and Supply Demand Law of demand: the price of a good rises and all other things remain constant, the quantity demanded of the good falls Individual demand curve and market demand curve Demand Shifters Change in demand VS Change in quantity demanded Shift of the demand curve VS Movement along the demand curve (1) Income Inferior good: demand is negatively related to changes in buyer’s income Normal good: demand is positively related to changes in buyers income Are these goods normal goods or inferior goods? Transportation services: public transportation, private car Movies: afternoon matinees, regular evening showings The distinction between normal and inferior goods and Business strategy The demand for inferior products during economic growth and recession The demand for inferior products for richer/poorer countries, developed/ developing countries Examples (2) Prices of related goods Substitutes: an increase in the price of one good causes an increase in the demand for the other goods Complements: an increase in the price of one good causes a fall in the demand for the other goods Examples: movies, popcorn, video rental? (3) Advertising and consumer tastes Informative advertising Persuasive advertising (4) Population Composition of the population and the demand for products (5) Consumer expectations Stockpiling (6) Other factors Example: durability of products 1 The demand function ...
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...ECON212-1501B-03: Principles of Microeconomics Being in the floral business there are its ups and downs let’s take a real approach in getting a jump start on the competition. People are more enthused now a days to purchase their items earlier with set delivery days via email, phone or online purchases. To beat out the crowds our company will raise prices early for those who want to buy the flowers today instead of waiting until the last minute or the day of. Flowers aren’t a product that lives forever it’s more of a consumable, so they aren’t made to last. The latitude of deciding to purchase flowers or not is based highly on the timing of the year. With knowledge of the latitude of the year helps the company put together a set plan to supply the demand of products. Demand system models provides us as a company a clear picture of the consumer side of the market and attempt to provide the empirical insight into what drives changes in the purchasing behavior. Demand can be assumed completely exogenous to an industry and the industry just accepts the pattern of change. (Ward, 2003) Needing to understand the essentials of the products from the certain characteristics such as potted plants, Fresh cut flowers and the artificial flowers makes a company strong in different products offered to the customer. Flowers are generally used for what you may ask? Everyone knows the biggest time of the year for flowers is Valentine’s Day. A holiday that is celebrated around the world in every...
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...Writing Assignment The World Factbook Mexico Economy - overview: Mexico is democratic country with a capitalistic economy or free market economy. It has plenty of natural resources and developing companies primarily own by the private sector it contains a combination of modern and outmoded industry and agriculture. Current management has increase competition in railroads, electricity generation, seaports, airports, natural gas distribution and telecommunication. The distribution of the income inside the country remains unstable. Regarding the free trade agreements, Mexico has with over fifty countries including Honduras, El Salvador, Guatemala, the European Free Trade Area, and Japan putting more than 90% of trade under free agreements. In July 2012 Mexico joined the pacific alliance with Chile, Peru and Colombia. The presidents Felipe Calderon productively pass pension and fiscal reforms in 2007. As the worlds demand for exports dropped Mexico’s GDP plunged 6.22% in 2009 asset prices dropped and so do remittances and investment. In 2010 the GDP growth was positive by 5.6% with exports, particularly by the United States, Leading the way. In 2011 growth slowed to 3.9% and recover to 4%. In 2012 Mexico’s legislature passed a labor reform which was signed into law by President Felipe Calderon by November. The new pact for Mexico was signed by the new president, Enrique Pena Nieto, along with the leaders of the country's three main political parties: the Institutional Revolutionary...
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...Final Business Proposal: Healthcare Kiosks Nephateri White ECO/561 October 12, 2015 Nancy Irizarry Healthcare Kiosks Intro- The healthcare industry is an industry that has endless possibilities as far as innovation is concerned. This is why I think that improving the whole kiosk movement would be worth the capital for hospitals, pharmacies and other medicinal clinics to use. Not only are these industries taking advantage of kiosks, but so are colleges and universities to better help aid students. Kiosks have been introduced throughout the US as early as 2010 for the healthcare industry to utilize for patient check-ins and/or dispersing some medicines to patients. Let’s further discuss how this could be beneficial to the market. Market Structure- It is said that this is a new age for healthcare kiosks. So many people are adept to new and constantly changing technology. The health care industry is one that has proven to be recession free in terms of the business cycle stages. Unaffected by catastrophic events due to the industry making more in dividends and excelling in marginal revenue (Wunker, 2013). Healthcare self-service innovators such as Allscripts and Fujitsu, Clearwave, Nova Medical, HealthAsyst, MedHost, and Interior Health have turned to KIOSK’s custom design expertise to bring new patient check-in solutions to market (Kiosk, 2015). KIOSK’s ability to leverage modular design efficiency and integrate highly custom peripherals has provided these clients with...
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...Business Economics GM545 FALL TERM Chapter 15: Q14 There is a lot to be said about being a part of a national estimation or basic "guesstimation "in my mind. Any time there is a standard that is based on a calculation of how much the average versus the absolute, and then you are always going to have a situation where the guess may not be as all inclusive as needed be. When Richard Stone came up with the system to gauge how much is being spent in each household and funneling back into the market this was a "just-about" ingenious way to make sure we know what is going on in our economic basic structure. Coming up with a way to measure the expenditures of the Americans in comparison to other nations can be very useful when trying to figure out the needs that society may have and what it takes to fill the gaps however, this can take an unforeseen turn of events just as it did in the days of the great depression. The problem with accurate representation from a society that income fluctuates based on shortcomings in the ability to employ the employable is that income is never the same. There are businesses in this country that go unaccounted for and there are businesses that are being accounted for that is no longer in existence and this affects the estimation. If this information is not taken into account the numbers or end result will definitely be an inaccurate one. Just like in the days of the days of the Great Depression the information that was used to devise the...
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...BUSINESS PLAN: SOLAR PANELS INSTALLATION SITUATION B Report of Project 1 – Microeconomic Analysis Keller School of Management – DeVry University ECON 545 – BUSINESS ECONOMICS Prof. John Hinrichs January 28, 2015 1. Introduction This is a business report to evaluate the profitability and success of starting a contracting company for installing solar panels in 2015. The report was asked by Miss Cindy B. and it’s purpose is solely to provide Miss Cindy B. the most detailed and informed advice possible. In order to contextualize the type of business Miss Cindy B. wants to begin, the article “US boosts ‘game-changer’ solar technology in bid for global market share” – page 374 of the textbook – was studied and will be cited several times during this paper. Industry Overview The solar energy industry is growing in America, as can be seen by the increase in global demand for solar cells. The US Department of Energy is investing hard on the industry, offering over $12 billion dollars in loans to solar projects. A particular company called 1366 Technologies received a $150 million loan guarantee due to it’s new technology that promises to reduce drastically the costs of production of wafers for solar cells. Studies show that ‘1366’s machines simplify the traditional manufacturing process into one step, slashing costs by more than half. That’s important, since silicon wafers account for about 40 percent of the cost of today’s solar panels, and manufacturers...
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...Business Economics GM545 May 2012 Chapter 16 Question 5 According to our text book, frictional unemployment is used to describe he short period of time that people are unemployed between jobs. Usually it is when someone quits a job for another job that they want and there is a short period of time that the person spends between jobs. This time is referred to as frictional unemployment. Even when people quit their jobs and don’t have another one lined up it can still be referred to as frictional unemployment if they are able to find a new job within a short period of time. (Stone, Gerald. CoreEconomics. Worth Publishers, 07/2011. p. 443). Frictional unemployment is a natural part of the employment cycle. It shows us that there are choices for both employers and employees. Typically when the economy is expanding there are jobs available and people feel comfortable moving from one job to another without much fear of being unemployed for too long. Structural unemployment is the opposite of Frictional Unemployment and refers to the extended periods of time that people spend unemployed (Nayab, 2012) Both employees and employers benefit from the presence of frictional unemployment. Employers can choose from talented pool of individuals and employees can choose where they want to work from the different options available. This leads to people finding jobs that are better suited to their needs and skills. Also when people don’t feel stuck in...
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...ECON 545: Business Economics Project Two: Microeconomic Analysis Situation B For Situation B, Cindy is looking at investing into the renewable energy industry. She is looking at one section of the industry to invest in, which is that of contracting the installation of solar panels. Cindy, has read, that families and businesses are saving money by going to solar for their power needed. Also, that there are government back regulation to make solar more assessable to people. For Cindy, she is looking pass the business opportunity for installing solar planes, but that this product can reduce pollution and help save the environment. GDP and Solar Energy In the United States and most nations in the world, energy is vital in keeping society stable and expanding. Energy provides the ability to aid in transportation, activities in daily living and employment. In the United States, $1.2 trillion dollars were spent on energy in 2013 or 8.3% of the GDP. That translates into an annual cost of 3,895 dollars per person was spend on energy consumption. With the great environmental impact seen by the production of energy, there was been more of a call, for renewable energy forms, as that of solar panels. The United States dose consumes 19% of the world’s energy supply and a 19% total of the world’s GPD. With the large needed for energy, companies are looking for new way to produce this produce that cost less and reduces the environmental impact. Renewable energy consumption is projected...
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...College of Economics and Management 85 COLLEGE OF ECONOMICS AND MANAGEMENT Libornio S. Cabanilla, Dean Jose V. Camacho, Jr., Associate Dean Agnes T. Banzon, College Secretary Reynaldo L. Tan, Chair, Dept. of Agribusiness Management Cesar B. Quicoy, Chair, Dept. of Agricultural Economics Amelia L. Bello, Chair, Dept. of Economics The College of Economics and Management (CEM) was formally created in the 996th UP-BOR meeting, February 1987. However, the College traces its roots to the Institute of Agricultural Development and Administration (IADA)which was established in 1975, with three departments – Agricultural Economics (DAE), Economics (DE), and Management (DM), and was elevated to the College of Economics and Management from the merger of IADA with the Agricultural Credit and Cooperative Studies and the Agrarian Reform Institute in 1978. At present, CEM is composed of three departments – the Department of Agricultural Economics, the Department of Economics and the Department of Agribusiness Management. The college sees itself as a center of excellence in undergraduate and graduate instruction, research and extension in economics, agricultural and applied economics, and agribusiness management in Asia. It envisions to be an institution of higher learning that can serve as an active catalyst for economic and social transformation. Its two-fold mission is to produce graduates and future leaders with strong training in economics, agricultural and applied economics, and in agribusiness...
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...DEGREE REQUIREMENTS M.S. Business Economics A minimum of 33 credits are required for the degree Effective Fall 2011 ____________________________________________________________ ________________ (I) Economics Core (5 courses; 15 credits) Take ALL of the following courses: (A) Econ 7000X [700x](Option 2 and Option 3 students may take Busn 7206X [706X] -“Microeconomics for Business Decisions” -- in lieu of Econ 7000X), (B) Econ 7010X [710X], (C) Econ 7025X [725.1], Option 3 students only who took an undergrad course in calculus may, with permission of the Grad. Deputy, waive Econ 7025X and substitute a course from the Option 3 requirements listed below. (D) Econ 7020X [720X], and (E) Econ 7021X [721X] (Option 2 and Option 3 students may take Busn 7279X [779X] -- “Applied Business Research” -- in lieu of Econ 7021X). (II) Choose either Option 1 or Option 2 or Option 3 Option 1. Economic Analysis (394): Take a minimum of 18 credits (6 courses) from the following: Busn/Econ 7215X [711X]; Econ 7027X [727X]; Econ 7028X [728X]; Econ 7030X [713X]; Econ 7040X [711.1X]; Econ 7045X [715X]; Econ 7050X [730X]; Econ 7055X [735X]; Econ 7060X/HNSC 7144 [772X]; Econ 7090X [781X]; Econ 7095G [783G] (Permission Required for Thesis Research class). With permission of the graduate deputy chairperson, students may be allowed to take up to 6 credits of other courses to complete the 18 credit requirement in Option 1. Option 2. Global Business and Finance (339): Take a minimum of 18 credits (6 courses)...
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...CALCULUS | 3 | A- | ECON 2005 | MICRO PRINCIPLES OF ECONOMICS | 3 | A- | ACIS 1504 | INTRODUCTION TO BUSINESS INFORMATION SYSTEMS | 3 | B+ | ENGE 1114 | EXPLORATION OF ENGINEERING DESIGN | 2 | A | MATH 1206 | CALCULUS | 3 | B+ | PHYS 2305 | FOUNDATIONS OF PHYSICS | 4 | A | AOE 2074 | COMPUTATIONAL METHODS | 3 | B+ | ECON 2006 | MACRO PRINCIPLES OF ECONOMICS | 3 | A- | ECON 3104 | MICRO ECONOMICS THEORY | 3 | B+ | AOE 2104 | INTRODUCTION TO AEROSPACE ENGINEERING | 3 | A- | ESM 2104 | STATICS | 3 | B | MATH 2224 | MULTIVARIABLE CALCULUS | 3 | A- | AOE 3094 | MATERIALS FOR AEROSPACE AND OCEAN ENGINEERING | 3 | B+ | ACIS 2115 | PRINCIPLES OF ACCOUNTING | 3 | A | BIT 2405 | QUANTITATIVE METHODS | 3 | A | AOE 3104 | AIRCRAFT PERFORMANCE | 3 | B+ | ESM 2204 | MECHANICS OF DEFORMABLE BODIES | 3 | B+ | ESM 2304 | DYNAMICS | 3 | A- | ECON 3204 | MACRO ECONOMICS THEORY | 3 | B+ | MGT 3304 | MANAGEMENT THEORY AND LEADERSHIP PRACTICE | 3 | A | AOE 3054 | AEROSPACE EXPERIMENTAL METHODS | 3 | B+ | AOE 3114 | COMPRESSIBLE AERODYNAMICS | 3 | B | AOE 3124 | AEROSPACE STRUCTURES | 3 | A- | AOE 3134 | STABILITY AND CONTROL | 3 | A | MKT 3104 | MARKETING MANAGEMENT | 3 | B+ | FIN 3104 | INTRODUCTION TO FINANCE | 3 | A | AOE 3044 | BOUNDARY LAYER THEORY | 3 | B | AOE 4154 | AEROSPACE ENGINEERING LAB | 1 | A | AOE 4234 | AEROSPACE PROPULSION | 3 | B | AOE 4266 | DESIGN | 3 | A | FIN 3055 | LEGAL ENVIRONMENT OF BUSINESS | 3 | A- | BIT 3414...
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...Dr. Mohammed Alwosabi Econ 140 – Ch. 11 Notes on Ch. 11 PERFECT COMPETITION This chapter examines the basic elements of perfect competition and the competitive firm. It examines how businesses with a given market price make production decisions that help maximizing profit. Characteristics of Perfect Competition 1. Many firms, each is selling an identical product. Each firm’s output is a perfect substitute for the output of the other firms, so the demand for each firm’s output is perfectly elastic. 2. Large number of buyers who are indifferent from whom to buy 3. No barriers (restrictions) to entry or exit; it is relatively easy to get into the business 4. Each firm produces a very small share of the total output so that no individual firm has the market power to influence the market price of the good it produces. A perfectly competitive firm is a price taker; it takes the market price as given. 5. Firms already in the industry have no advantage over new entrants 6. Complete information is available to buyers and sellers are about price, demand, and supply in the market 7. Perfectly competitive firms earn zero economic profit in the long run (only normal profit) 1 Dr. Mohammed Alwosabi Econ 140 – Ch. 11 Market demand curve vs. firm demand curve It is important to distinguish between the market demand curve and the demand curve facing a particular firm. The equilibrium market price is determined by the interaction of market demand and...
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...University and BBA requirements on page 4 of this template. It is important that you monitor your progress on a regular basis to that ensure you are on track. 7. Changes may be made to the BBA program during your time at Trent. If this happens contact the Business Administration office to arrange a meeting with a faculty advisor to discuss the impact of the change. Generally you graduate under the rules in place when you enter or re-enter the BBA program. You have entered the BBA program when you declare your major on MyTrent. You should retain a copy of the declaration for your records. Level 1000 Courses Normally Offered Completed, In Progress, Plan to take in (term): Required FA WI ADMN 1000H - Contemporary Issues in Mgmt X ADMN 1021H- Financial Accounting I X X ECON 1010H - Intro micro economics X X ECON 1020H- Intro macro economics X X Electives Level 2000 Courses Normally Offered Completed, In Progress, Plan to take in (term): Required FA WI ADMN 2010H - Management Skills X ADMN 2021H- Financial Accounting II X X ADMN 2100H - Intro to marketing X X ADMN 2220H- Organizational Behaviour X X ADMN 2510H - Organization Theory X X ADMN-ECON 2200H- Intro to...
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...that are sought after by organizations in the private, public and not-for-profit sectors. The CGA Program of Professional Studies gives you the tools to succeed in business, no matter where your career takes you. You’ll enter the workforce with the applied knowledge and demonstrated expertise that employers want, including specialized technical knowledge, sectorspecific competencies, problem-solving skills and the ethical integrity to lead. CGA’s competency-based curriculum is simply your best way to prepare for a rewarding career in financial management. Flexible study options and the freedom to choose the career you want CGA is all about choice. You choose the professional-studies path and real-world experience that best match your career goals and interests. We give you the skills and freedom to work in any type of organization, in any industry, at any level of management. With a CGA designation, your opportunities—both professional and personal, at home and around the world—are limitless. Take your place as a highly respected member of the business world. Karmen Rempel, CGA Manager Grant Thornton LLP Vancouver, British Columbia Why CGA? There are many reasons why CGA is the fastest-growing accounting designation in Canada. With CGA, you can: 1. Pursue unlimited career opportunities in the business or enterprise of your choice. 2. Develop the wide range of skills needed to take on leadership, senior...
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...UNDERGRADUATE REGULATIONS & SYLLABUSES 2014 - 2015 THE FACULTY OF SOCIAL SCIENCES TABLE OF CONTENTS MESSAGE FROM THE DEAN ............................................................. 3 UNDERGRADUATE PROGRAMMES ................................................ 4 ACADEMIC CALENDAR 2014-2015 ................................................ 5 DEFINITIONS ...................................................................................... 13 GENERAL INFORMATION & REGULATIONS .............................. 14 General Regulations for Bachelor of Science Degrees 14 Special Regulations for Degrees in Hospitality and Tourism Management........................................................... 27 Franchise Agreements .......................................................... 27 EVENING UNIVERSITY -GENERAL INFORMATION & REGULATIONS ................................................................................... 28 General Regulations for Bachelor of Science Degrees 28 General Regulations for Diploma Programmes ............ 36 General Regulations for Certificate Programmes ......... 37 STUDENT PRIZES .............................................................................. 38 CODE OF CONDUCT ........................................................................ 39 UNIVERSITY REGULATIONS ON PLAGIARISM .......................... 40 THE ACADEMIC SUPPORT/ DISABILITIES LIAISON UNIT (ASDLU) ..............................................................................................
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