Law of Increasing Opportunity Cost As more of a good is produced, more of another good has to be sacrificed in production Comparative Advantage When one can perform an activity at a lower opportunity cost than anyone else Law of Comparative Advantage Trade can benefit countries if they specialize in goods in which they have a comparative advantage 2. Demand & Supply Law of Demand Inverse relationship exists between price of good and quantity demanded of good, ceteris
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I. Chapter 1 + 2: 1. a. Meaning of LIBOR and what is its significance in the Eurocurrency markets? The benchmark interest rate paid on deposits among banks in the Eurocurrency market is called LIBOR (London interbank offer rate). It’s the world most widely used benchmark for short term interest rates. LIBOR is determined by the supply and demand for funds in the Euromarket for each currency, because participating banks could default on their obligations and the rate paid for Eurodollar deposits
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Scarcity is the limited nature of society’s resources. Economics is the study of how society manages its scarce resources. Efficiency is the property of society getting the most it can from its scarce resources. Equity is the property of distributing economic prosperity fairly among the members of society Opportunity cost is whatever must be given up to obtain some item Marginal change is a small incremental adjustment to a plan of action Market economy is an economy that allocates resources
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INTRODUCTION ABOUT CO-PERATIVE BANK Farmers in India are scattered all over the country and need short term borrowings for agricultural purpose. This need is not fulfilled by commercial bank, which unsuited for financing agricultural. Land which these farmers can offer to cover bank advances is not generally accepted as security by commercial bank therefore special type of banks are necessary for the financing of agricultural co-operative banks is to offer banking facilities to persons of
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Assignment General Instructions: 1. Your assignment should have a cover sheet with the following information: a. your name; b. the course number; c. the section number; and, d. the date, 2. You may either copy and paste the questions and the appropriate graphs into your paper, or you may insert your coversheet, your answers and your references into THIS document, renaming it as required in the instructions. 3. To any graphs, or charts, you may add
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Fertilizer Industry, Composition of Foreign Trade, Direction of Exports and Imports and Major Problems of Indian Fertilizer Export Sector will be analyzed. Overall the industry specific export-import scenario, avenues and prospects, India’s competitive advantages and disadvantages and suitable export strategies to boost the exports of carpet related products will be discussed. Though economic relations between India and Korea have been strengthening, the current size of trade and investment between the
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------------------------------------------------- Page 124 Check Your Understanding 3. Describe the circular flow diagram. Why must all income equal spending in the economy? The circular flow diagram is a representation of how businesses and households network amongst one another through the product and resource markets. Households supply labor to the resource market. In turn, businesses use this labor to produce goods and services that are provided to the product market. Overall, products
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Zambia’s agriculture has the potential of enhancing economic growth and reducing poverty. Good agricultural policies and a well performing agricultural sector translates into significant improvements in the country’s Gross Domestic Product (GDP), employment generation, and broadens the country’s tax base since the livelihoods of the majority of Zambians depend on agricultural-related activities such as farming. The sector, if well developed, should contribute significantly to welfare improvement
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company (Regions of Sterea and Western Greece). The company intends in the rational utilization of natural resources of Aetolia, through activities that contribute in the creation of initiatives, programs and collaborations and point out the comparative advantages of the region, giving answers to the following pressing challenges of our time: Pace acceleration for the creation of new work places, reduction of income divergences and upgrading of regions standard of living, extended reproduction of social
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Phase One Individual Project Natalie Olivo Global Managerial Economics ECON310-1301A-02 January 14, 2013 Phase One Individual Project Before entering into any other type of global market, it is important that the decision-makers familiarize themselves with different macroeconomic and microeconomic concepts. A solid understanding of these concepts will make it much easier for a decision to be made. Major decisions such as these should not be made on a whim. Any additional information that
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