...Influence of Math on Economics In: Business and Management Influence of Math on Economics Influence of Math on Economics Michelle Balmer, Marcie Holland, Beverly Segars, Israel Figueroa, and Porshia Cross MTH 110 Rigoberto Martinez March 17, 2012 The Influence of Math on Economics The history of mathematics is an investigative study of the discoveries of mathematics methods and notations from the past. The study of mathematics began in the 6th century BC with the Pythagoreans who coined the ancient Greek term mathematics with the meaning subject of instruction. Before the spread of knowledge, mathematics was written expressions of the development of Babylonian, Egyptian, and Pythagorean Theorem, which demonstrate the basics of arithmetic and geometry. Arithmetic is one of the oldest forms of mathematics used by Antoine-Augustin Cournot and Joseph Louis Francois Bertrand for tasks of simple day-to-day counting to science and business activities. Arithmetic involves the study of quantity as it relates to addition, subtraction, multiplication, and division. Mathematicians refer to the more advanced term of number theory. Antoine-Augustin Cournot and Joseph Louis Francois Bertrand’s influence on mathematics lay the foundation of the economic effect of the application method on economic theory and analysis of how it will affect others. Each allows individuals to form a meaningful understanding...
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...Influence of Math on Economics Michelle Balmer, Marcie Holland, Beverly Segars, Israel Figueroa, and Porshia Cross MTH 110 Rigoberto Martinez March 17, 2012 The Influence of Math on Economics The history of mathematics is an investigative study of the discoveries of mathematics methods and notations from the past. The study of mathematics began in the 6th century BC with the Pythagoreans who coined the ancient Greek term mathematics with the meaning subject of instruction. Before the spread of knowledge, mathematics was written expressions of the development of Babylonian, Egyptian, and Pythagorean Theorem, which demonstrate the basics of arithmetic and geometry. Arithmetic is one of the oldest forms of mathematics used by Antoine-Augustin Cournot and Joseph Louis Francois Bertrand for tasks of simple day-to-day counting to science and business activities. Arithmetic involves the study of quantity as it relates to addition, subtraction, multiplication, and division. Mathematicians refer to the more advanced term of number theory. Antoine-Augustin Cournot and Joseph Louis Francois Bertrand’s influence on mathematics lay the foundation of the economic effect of the application method on economic theory and analysis of how it will affect others. Each allows individuals to form a meaningful understanding of the complex expressions in various languages. Cournot and Bertrand have used the importance...
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...Economic Environments on Business Activities Task 4 Your local magazine plans to publish a follow-up article to the first one, which was well accepted. In this article, you will need to choose one of the two organisations from your initial article and compare it with an organisation from another industry. This requires you to research a different economic environment and to look at one business from that industry. This business with then be compared with your local business. * Draw up a table of economic data for your local organisations and one other contrasting economic environment. * Choose at least two economic topics and collect relevant data from two different industries example GDP, retail sales, inflation and interest rates. * Using the data collected in your table, describe the influence of two contrasting economic environments (i.e. the economic data collected) on business activities within your selected organisations. Economic Environment An economic environment is the factors that have effects on the working of the business. This will include the system, policies and the nature of the economy, economic resources, level of income, distribution of income, trade cycles and wealth. GDP The gross domestic product or the gross domestic income (GDI) is one of the measures of national income and output. It is defined in 3 ways which gives identical results. 1. It is equal to the total expenditures for all final goods and services produced within the country throughout...
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...the influence of two contrasting economic environments on business activities within a selected organisation Start the question by explaining that the UK economy is currently in a recession. Explain why you think the UK economy is in a recession by using the following indicators that are used to indicate recession; they include, GDP (Gross Domestic Product)- Very Low currently in the country, state how this will affect your business organization. Give at least three examples; it can be positive or negative. Unemployment: Identify the fact that the numbers of unemployed is very high in the country. Explain how this will affect your business organization. Give at least three examples of positive and another three for negative influence. Inflation: Talk about the inflation rate (Very high), explain how this will affect your business organization. Give at least three examples of positive and another three for negative influence. Interest rate base rate: Explain that the interest rate is very low, currently 0.5% in UK. Explain how this will affect your business organization. Give at least three examples of positive and another three for negative influence. House Prices: Currently very high to rent a house in the business district areas. Give examples of rent prices within your business location. How does the high rent affect cost? Give at least three examples of positive and another three for negative influence. Recession: All these negative impacts lead to economic recessions...
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...P5 Describe the influence of 2 contrasting economics environments on business activities within a selected organisation Introduction In this task I will be talking about two contrasting economic environments on business activities for Harris Academy Peckham and Peckham. The economic environments will be recession, demand and supply. Supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy. Demand refers to how much of a product or service is desired by product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and how much of a good or service is supplied to the market is known as the supply relationship. Price, therefore, is a reflection of supply and demand. Harris Academy Peckham Demand and supply In this section for the task, I will be discussing the demand and supply for the school, in the most important element to talk about of the demand for and the supply of the school places and the parents that they need to send their kids to the school. It will be not uncommon for the parents who they live in Peckham to send their children to the school or different school that they aren’t in the area. There is a leading-on of the effect to the firing teaching because they were not enough students to come to the school, in this would cause extreme in the implication of the school which is the...
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...Evaluate the economic case for and against governments attempting to influence how mobile phones are manufactured and used. Mobile phones are often used next to the person’s ear, which gives it direct contact with their head (brain). The risk mobile phones pose is arguably insignificant however as the article suggests it can emit radiation, which can cause potential damage to someone's health. To reduce harm to the public the government might chose to build mobile phone masts away from towns and cities as to reduce the number of people that are in contact with radiation. Many components are made in various places over the world. Mobile phones are often assembled from a large number of components to produce a finished phone. As stated in extract E mobile phones are often manufactured in countries where manufactures often exploit workers. Low wagers are paid to Asian workers that often have to work in conditions that are often poor and unsafe. Workers might also be punished if they do not produce phones of a high enough standard or fall behind. Basic economic theory states that profits are earned when firms gain revenue, which exceeds the costs of production. By keeping production costs low firms are able to make profits. The mobile phone industry is a completive market. Companies such as Apple and Samsung are often fighting against each other to produce the best phone at the lowest cost. In a free market system, such as the mobile phone industry governments take the view...
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...The summary of Pst Matthew Ashimolowo's message at the ongoing RCCG Youth Convention in Nigeria. Hope you'll learn something new and be blessed as you read. MINDSET OF KINGDOM MILLIONAIRES Money is like a current, it is either flowing to you or flowing away from you that is why it is called Currency. So you need to learn how to magnatise money. Most people are poor because of lack of knowledge and examples/training they received from parents and authority figures. If you grew up in an environment that says "money is meant to be spent", you'll never have savings" Psalm 66:12 Every year loads of people are joining the millionaires club! God wants to raise you as a person who can make a difference in your world. It is not true that there is money scarcity in the world, rather every year millions of people cross the millionaires threshold. Don't listen to the what ifs and words of distractions around you. You work towards getting blessed first and watch God teach you how to handle it. There are people who lack the right knowledge to make wealth, some Christians will cry and pray for financial breakthroughs but their financial levels never change because they haven't obeyed the laws of wealth making. There are certain laws you must follow to make wealth, if you don't obey them you can't be a millionaire! The law of gravity doesn't respect anointing! 2Timothy 1:7 To be a millionaire you have to overcome the spirit of fear! Things may not always go right at first...
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...To what extent were economic motives the most important reason for Britain obtaining influence and possessions in Africa from 1868 – 1902? There are many factors involved which allowed Britain to obtain influence and possessions in Africa during the scramble. The main factors are Strategic, The individuals in the field, humanitarian issues and properly the most important factor; economics. Economics could be described as the main reason for British interests in Africa to begin with but also remaining an important factor throughout this period. The British involvement in Africa was down to economic reasons; this is clear throughout the time period as most events which take place in Africa can be linked back to economy. One of the most important ecological was the purchase of 44% of the shares in the Suez Canal, these became available when the leader of Egypt; Khedvie Ismali became bankrupt and had to be bailed out. Disraeli bought the Egyptian shares in the canal for £3,976,582 in 1875. The purchasing of these shares was important as it gave Britain influence over this area, but also it opened a direct trade route with India. Due to British and French influence in the area, Britain and France assume dual control of Egypt’s finances. Although they manage to control debt levels, this is done at the expense of the Egyptian public and army. This interference led to an anti - European uprising in 1882 led by Arabi Pasha. On the 13th of September 1882 Sir Garnett Wolseley defeated...
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...Dr. King had a dream, a dream that one day we would all be equal. I believe that this dream has yet to be fully realized, though we have come a long way. The hate that existed then still remains, though usually in a more faint way. Socio-economic disparity is still prevalent in our society, and biased politicians are still in power. Michelle Obama the first black First Lady shares the same viewpoint in a speech to the students of Topeka, Kansas where she said, “By some measures our schools are just as segregated as they were back when Dr. King gave his final speech.” The main issue that drives all others is that the hate still remains. The main reason it has endured is that people that were alive during the 60’s, and that held those beliefs, are still alive and directly or indirectly passed it to the next generation. Due to the socio-economic disparity often many people have minimal contact with other groups and psychologically people are warry of strangers and unfamiliar things. They may as well, due to the lack of contact, have no knowledge to disprove stereotypes that they may have been taught....
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...Is technological innovation the main source of all economic development and change? How might differing research and development systems influence the performance of major nations? Introduction Technological innovation has come to be regarded as a central factor upon which success is contingent (Dodgson and Bessant, 1996: 3; Schumpeter, 1943: 83). Not only has it been considered a promise for generating competitive advantage but it has also been prescribed as a remedy for a broad range of managerial problems such as intense competition, globalised marketplace and technology fusion (Eris & Saatcioglu, 2004). Since the middle of the 20th century many theorists have explored the issue of technological innovation and how it influences performance on the national, industry and firm level. This report will firstly, compare the R&D systems of the USA, UK, Germany, Japan and China and then analyse the automobile and semiconductor industries in relation to these systems to show that technological innovation is not the main source of economic development. Technological innovation Various definitions of technological innovation have been devised as part of existing theories. In addition, technology and innovation are often used interchangeably. Throughout this report, however, technological innovation will be regarded as the usage and knowledge of tools, techniques, crafts or methods in terms of new products and processes (Porter, 1990; Nelson, 1993). Further, a distinction...
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... | |Introduction |01 | |Model of consumer behavior |02 | |Physical influences within an individual |03 | |Motivation |04 | | Perception |05 | |Learning |06 | |Attitudes |06 | |Lifestyle |06 | |Social influences affect consumer behavior |07 | |Family |07 | |Social class ...
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...efficiently and establish a loyal group of customers with positive attitudes towards the company’s products. Consumer behaviour can be formally defined as: the acts of individuals directly involved in obtaining and using economic goods and services, including the decision processes that precede and determine these acts. The underlying concepts of this chapter form a system in which the individual consumer is the core, surrounded by an immediate and a wider environment that influences his or her goals. These goals are ultimately satisfied by passing through a number of problem-solving stages leading to purchase decisions. The study and practice of marketing draws on a great many sources that contribute theory, information, inspiration and advice. In the past, the main input to the theory of consumer behaviour has come from psychology. More recently, the interdisciplinary importance of consumer behaviour has increased such that sociology, anthropology, economics and mathematics also contribute to the science relating to this subject. 2 Social and cultural influences Culture is ‘learned’ behaviour that has been passed down over time, reinforced in our daily lives through the family unit and through educational and religious institutions. Cultural influences,...
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...D2-EVALUATE HOW FUTURE CHANGES IN ECONOMIC, POLITICAL, LEGAL AND SOCAL FACTORS MAY IMPACT ON THE STRATEGY OF A SPECIFIED ORGANISATION It is vital to investigate the economic, political, legal and social factors of an organisation before making any future plans on it. The business that I have chosen is Asda. It provides goods and services that people require in their everyday life for an affordable price. Economic influence The economy of the UK has barely grown due to the recession which impacted on the demand for goods and services in UK. Inflation rate means increasing level of prices of goods and services. When the inflation rate rises, the government will raise interest rates to reduce spending. The inflation rate is 2% above target which means it has a positive impact on Asda as they will be able to provide cheaper products. This also means that there will be more competition for Asda as other stores may provide cheaper products. Asda is affected by inflation rate when prices shoot up but the wages don’t increase so customers have less money to spend. The public transport has an effect on Asda because is there is less transport, there will be less customers coming to Asda and they wouldn’t make any money. Asda will have to keep customers coming into their supermarket because it will be highly likely that they would go to stores that are cheaper. Political influence The government has a huge effect on Asda when it comes to changes in government laws such as...
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...Child Development During a child’s early development they learn more quickly than any other time in their life. They are eager to learn and are easily influenced throughout their childhood. These influences are categorized in three different groups. They are social, economic, and cultural influences. These different influences can affects a child’s development both negatively and positively. Social influence is very important for all ages, but it changes and forms over the course of childhood. Social influence comes in many shapes and sizes, but there are some majors influences that affect a child more dramatically. One of the main positive social influences is family. Family is especially important because they are the people that a child spends most of their early childhood with. They have a direct and indirect influences on the challenges that children encounter and have the resources they need to accomplish those certain challenges. Within the family children learn social skills and attach to people who love and care for them. Children who have parents that spend time with them are able to reach out and relate to others. There is a theory called the Attachment Theory which explain that the emergence of an emotional bond between an infant and their parent or caregiver and the way in which this bond affects the child's behavioral and emotional development into adulthood. According to this theory, children who have a secure bond with their parent use this attachment to...
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...However, when you have been duped into doing this, perhaps one sheet of paper was deliberately hiding the contents when you signed it, the contracts would be void. * There may be a mistake about the identity of what you are buying. Jo intended to buy a landline phone and pete intended to sell him a mobile phone. Here no contract was made * You may make a mistake in understanding what the other part is telling you when they describe the product or obligation which go with it, whether in writing or verbally. The law expect businesses and people to take care when they enter into contracts and will not normally let them escape from one simply because they didn’t read it properly or listen when it was explained. Duress and undue influences * Duress is where someone is forced to do something because they are being threatened with personal injury, unlawful imprisonment or even death. A threat to someone’s property is insufficient for a claim of duress any contract made under duress is unenforceable in law. * In certain relationships, one party is able to take unfair advantage of the other due to the nature of the relationship. This...
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